White sand beaches, clear turquoise blue lagoons, lush tropical vegetation, untouched natural beauty, a favourable all-year round climate, beautifully designed homes… It’s easy to see how investing in property in Mauritius is becoming more and more popular with the young and the not-so-young.
Many developments now offer sustainability, leisure, and commercial facilities, even schools, to complete the idyllic and privileged existence on one of the most beautiful islands in the world. “It’s (...)
"Investment in commercial spaces has become more attractive than residential properties"
Business Magazine, the weekly economic magazine of Mauritius, asks Philippe de Beer for professional real estate advice:
BM: What is your view on the evolution of the real estate sector since the beginning of the year? PDB: " The local real estate market remains very active. First of all, access to home ownership for an emerging middle class remains one of their primary objectives with access to (...)
After conquering the tourism, hotel and ecommerce sectors, customer reviews are now gaining the real estate market.
As individuals become increasingly demanding, industry professionals know not to underestimate their comments, or even capitalize on them. In a tense real estate market and with more and more volatile consumers, real estate professionals must offer an irreproachable customer service. When it comes to choosing a real estate agency to buy or sell a property, many individuals (...)
To seduce potential buyers and obtain the signature for the sale of your house or apartment, do not neglect the preparation of the sale.
Some tips from Park Lane Properties, leading real estate agency in Mauritius:
A property is constantly aging, deteriorating... it wears. Some equipment may no longer meet standards or meet current needs. Before you put the property on sale, it is therefore necessary to analyze all defects and the things that any buyer will want to redo if he considers (...)
When it comes to purchasing, many investors ask themselves whether they have made the right choice or the best investment. Each uses an evaluation grid that differs from one individual to another. But all too often this evaluation is not necessarily objective and is based on emotional criteria.
What are the key points not to neglect to make the right choice? Philippe de Beer, CEO of Park Lane Properties, leading real estate agency in Mauritius offers some insight.
Good preparation is (...)
The strategic developments of real estate agency Park Lane Properties in Mauritius In its pursuit of excellence and always striving to exceed customer expectations, Park Lane Properties as leading real estate agency in Mauritius has appointed Mr. Bruno Rochecouste as its new Executive Director, Strategy & Innovation. Achievement and results driven, Mr. Rochecouste comes with a proven track record in Financial Services, covering Banking, Wealth Management & Insurance across various (...)
Is Mauritius one of the best countries to emigrate? Looks like yes!
According to a study conducted by the international law firm Bradley Hackford - an entity specializing in tax and physical residence changes in attractive countries for their taxation and living environment - Mauritius is ranked 7th in the ranking of the least taxed countries in the world in 2017. A place of choice for an island that is still developing.
"For a foreigner, one of the best gateways to expatriate in a (...)
The dream of buying real estate in Mauritius It is fairly safe to say that when looking to invest, the first choice of investors, no matter their profile, is real estate. And with good reason too: it’s a secure and usually profitable investment; and often, a way to earn a regular income. Most importantly it’s a tangible investment, solid as a rock! However, the type of investment chosen varies greatly depending on the desires and plans of each investor. Here’s a quick overview...
The global (...)
CAP TAMARIN - THE SMART & HAPPY VILLAGE - THE PROJECT Imagine a place where you can savour each moment of every day! A place that allows you to live life to the fullest. A place where all the essentials are in close proximity. A place where adventure is a stone’s throw away. A place where people of all ages and cultures live together. A great place you can call home! An extension of the village of Tamarin and developed over an area of 44 hectares, Cap Tamarin is the smart village of (...)
I Want to Be a Home Owner in Mauritius! Most Mauritians, like people from all over the world who have fallen in love with the island, dream of buying a house in Mauritius. Synonymous with success and heritage, i.e. leaving behind a gift for one’s children, or motivated by a desire to emigrate, the purchase of real estate is a project many people hope to get a good return on investment. Even more so when that property is in Mauritius, a country known for its idyllic way of life and political (...)
Mauritius attracts Rs 10.6 billion in Foreign Direct Investment ...
During the first three quarters of 2016, Foreign Direct Investment has amounted to nearly Rs 10,6 billion (over US$ 286 m), compared to Rs 7,2 billion for the corresponding period in 2015, representing an increase of 46,8%. Over 69% (Rs 7,5 billion) have been represented by Real Estate activities, of which over 6,3 billion was invested in IRS, RES and IHS, ie non-resident property schemes and developments. Ken Poonoosamy (...)
Real estate investment is now available to non-residents in Mauritius Non-Citizens can now buy apartments in Ground + 2 buildings without necessarily having an occupational permit in hand, which was the requirement previously, and with no limitation on the number of units being bought and with the right to rent them out, which was not the case up to now.
The Non-Citizens (Property Restriction) Act has been amended on 20 December 2016 to allow foreigners to purchase apartments in (...)
The Following measures will impact positively the real estate sector :
· Exemption for a Mauritian acquiring a newly built dwelling costing less than Rs.6 million on land which is not on Pas Géométriques or within an Integrated Resort Scheme, Real Estate Scheme, Property Development Scheme or Hotel Invest Scheme during the period from 1 September 2016 to 30 June 2020. · Exemption for a promoter when acquiring land (which is not on Pas Géométriques or within an Integrated (...)
Notary fees for any property purchase in Mauritius follow a fixed schedule based on the sale price :
> 2% for the first Rs 250,000 paid
> 1.5% on the next Rs 500,000 paid
> 1% on the next Rs 1,000,000 paid
> 0.5% on the balance of the selling price
These notaries fees are subject to VAT (15%)
Example : Sale of Rs 8,000,000
Rs 250,000 x 2% = Rs 5.000
Rs 500,000 x 1,5% = Rs 7.500
Rs 1,000,000 x 1% = Rs 10.000
Rs 6,250,000 x 0,5% = Rs 31.250
Total : Rs 53,750 + 15% VAT = Rs (...)
A great opportunity for South Africans to invest in real estate in Mauritius PORT LOUIS – A change to the regulatory requirements for property investment schemes that have lured many affluent South Africans to the Mauritian property market could boost the value of properties bought under the older, less stringent schemes.
In its 2015/16 budget, the Mauritian government announced that the Integrated Resort Scheme (IRS) and Real Estate Scheme (RES) would be restructured and replaced by a new (...)
The Property Development Scheme (PDS) has replaced since August 2015 the IRS and RES schemes in Mauritius. Specifications The Property Development Scheme (PDS), which has replaced the IRS and RES, allows the development of a mix of residences for sale to non-citizens, citizens and members of the Mauritian Diaspora. The PDS is basically an integrated project with social dimensions for the benefit of the neighbouring community and allows for the development and sale of high standing (...)
‘It’s no easy decision to leave your country, culture and people, however Mauritius seems to be an increasingly easy transition for many retirees.’
When it comes to the crux of it there are three simple reasons why South Africans are willing to pack up their lives, put their property up for sale and make a new life in Mauritius.
1. Sun and surf
Simply put it’s a paradise. The lure of palm trees, cocktails out of coconuts and the piercing blue ocean that you see on the front page of (...)
What is so attractive with Mauritius and why would someone come and live there ? Mauritius, a beautiful island in the middle of the Indian Ocean, situated in the ‘golden triangle’ connecting Asia, Africa and Australia, is undoubtedly one of the most attractive countries in the world to live in. An ideal combination of political and economic stability, a clean and safe environment, magnificient lagoons, great road infrastructures and relatively low tax rates make it the ultimate place of (...)
Progress of real estate investments in Mauritius
Interesting to see that after the downward trend in 2008/2009 in the sale of IRS properties following the economical crisis, we have since then seen a constant improvement and increase in the number of properties sold in Mauritius. From 27 units sold in 2009, over 100 IRS properties were sold in 2013 and we foresee another good year in 2014.
Since the introduction of the alternative to IRS properties which are RES properties, sold with no (...)
Cautionary note on real estate acquisitions between individuals
On real estate sites online, including in Mauritius, you can find everything in terms of prices, with vendors trying to sell their property in Mauritius directly to potential buyers at a much higher price than the market price. It is best to find your property through a good realtor in Mauritius, recognized and patented. The real estate agent will tell you if the sale price is in line with the property market in Mauritius, and (...)
SOME SUGGESTIONS WHEN INVESTING IN PROPERTY IN MAURITIUS IN ORDER TO GET A RENTAL RETURN : The first thing to do is to calculate what the RENTAL RETURN would be. The easiest calculation is the GROSS rental return, which does not take into account the annual taxes payable for the property, the income tax imposed on the rental profit (only 15% tax in Mauritius on the net profit after deductions of the expenses and costs paid on the property during the income tax year) and the costs you will (...)
The advice of Philippe de Beer to better sell your house on Mauritius
Some tricks and tips to help sell your home in Mauritius and elsewhere : potential buyers of a house in Mauritius will be more attracted by the general condition of the interior than the house itself. A clean and tidy home always has a good effect on potential buyers of property in Mauritius. If the house is dirty and messy, buyers may wonder if you have well maintained it. Also, think of refreshing the paint on the (...)
New real estate investment opportunity in Mauritius
Wise investment opportunity in Les Mariannes, North of Mauritius.
Subdivsion of agricultural plots with completed infrastructures, including tarred roads, underground electricity & water.
Call the Northern branch of Park Lane Properties, leading real estate agency in Mauritius for more info on +230 263 7575 or north (...)
Press article: Park Lane and the international networks LeadingRE and Luxury Portfolio International
Read about Park Lane Properties, leading real estate agency in Mauritius, becoming member of LeadingRE and Luxury Portfolio International in the June/July 2013 issue of DETENTE, a tourism and leisure magazine in Mauritius.
New real estate project in Tamarin on Mauritius
Release of a new project by Park Lane Properties, leading real estate agency in Mauritius : 8 apartments on the waterfront in Tamarin, on the west coast of Mauritius, right in front of where the dolphins love to swim and the famous surfing spot "DAL".
From the studio to the 3 bedroom penthouse, a choice of various units for all budgets : from Rs 8 m to Rs 24 m all inclusive. Hurry ! Contact Park Lane Properties, your leading real estate (...)
Park Lane Properties Mauritius becomes member of Leading Real Estate Companies of the World and Luxury Portfolio30/05/13
Park Lane joins the prestigious network Leading Real Estate Companies of the World® Park Lane Properties, leading real estate agency in Mauritius, joins the international property network Leading Real Estate Companies of the World®, a global real estate network comprised of 500 of the best-known local and regional real estate firms, with 4,600 offices and 140,000 sales associates in the U.S. and more than 40 other countries. Collectively, these firms sell nearly 900,000 homes annually. (...)
Ten Year Guarantee for real estate developments in Mauritius
It would seem that new regulations are being put in place in Mauritius, for the benefit of buyers of properties in real estate developments in Mauritius. Excellent news ! Read the article attached published in l’Express newspaper in Mauritius on 8 april 2013 (article in french attached).
Facelift for the three Park Lane Real Estate Agencies in Mauritius
Park Lane Properties’ 3 branches of Tamarin, Grand Bay and Floreal have all received a facelifting in line with the company’s strategy to strengthen its visual identity and position in Mauritius.
Following the change in colors of the leading real estate agency’s logo in may 2010, and the various new advertising layouts, the 3 branches’ outside appearance has been redesigned and homogenized.
For all your property needs in (...)