- Purchasing Procedures
- The different Real Estate Schemes
- The different Real Estate Programs existing on the market
- Administrative and Legal Procedures
- Better know Mauritius
Geographically speaking and even if these programs are spread out all around the island, it must be recognized that most of these residential areas are found in two principal areas, the North of the island, near Grand Bay, on the one hand, and the West part of the island, near Black River, on the other.
The below map will help you to locate the majority of these residential developments in which foreigners can acquire flats, piece of land or villas, of course, according to their aspirations and wishes and given the budget and the priorities that they have set.
The majority of units sold by the Mauritian promoters are 'on plan' and sold as a ‘VEFA’ (Sales to be completed in the future’) and are governed by legal provisions of the Mauritius Civil Code which are very similar to the French provisions on the matter.
In very seldom situations, properties being sold for the first time, are available already built and ready for immediate habitation.
Such is the case, also, on resale properties.
Most of these programs are relatively high-end developments [some extremely luxurious], with world-class infrastructure and facilities, which may consist of golf courses, marinas, individual swimming pools, restaurants, sports centers, spas and fitness centers, hotel resorts, rental management services, concierge facilities .......
Some are located oceanfront, others in urban areas, others, finally, on a golf course.
For information, the average price of IRS & RES properties sold in 2014 was of 820,000 Euros. The lowest transaction closed at 240,000 Euros while the highest transaction was concluded at Euros 3, 250,000.
Interesting to note is that approximately 50% of the buyers of units sold in one of these real estate programs were French nationals, +/- 25% were South African, the other being predominantly nationals of other European countries such as Belgium, Swiss, Germany, to name a few.