What are the criteria to consider for investing in real estate?
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 required
Although investing in land is a sure way to secure your capital, you do not become a real estate investor overnight. It must be prepared and have clearly defined objectives ... this in order to be able to define its project in the short term as well as in the long term.
"A wise investor will have determined his personal goals. For example, a property purchased with a rental goal: can it also be used as a vacation home? Will the property become a principal residence at the time of retirement? Is the search for yield the main objective? These are the questions, among others, that are good to answer before embarking on this type of approach "advises Philippe de Beer.
Where to invest?
It is important to select a dynamic geographic area in order for the rental investment to be profitable, if that is the objective, and to ensure that the resale market is advantageous, allowing for a capital appreciation over time. An area near the sea or a commercial infrastructure will always be appreciated by seasonal workers.
"In Mauritius, the northern region is generally the most popular and the most touristic, as well as the western coastal region from Flic en Flac to Rivière Noire. But there are more and more interesting properties in all corners of the country "adds Philippe de Beer.
To be accompanied and professionally advised
In order to become more efficient in its investment operations, it is better to use the services of real estate professionals. These professionals know the rules of the country in terms of investment (especially if you are a foreign investor), so it will be easy for them to guide and present investors with the offers best suited to their profile.
"At Park Lane, we support our customers throughout the cycle of their project, from looking for good rental possibilities and also resales once the investment has provided returns" commented Philippe de Beer.