The luxury property market in Mauritius is bouncing back after several years of reduced interest due to the Covid-19 pandemic and difficulty travelling.<\/p>\n
According to international agents and local developers, sales on leading developments have seen unprecedented growth in the last 18 months.<\/p>\n
They said that Brits, Europeans and South Africans<\/strong> see the island as a ‘safe haven’ and are buying property for investment and lifestyle reasons.<\/p>\n From 2014 to mid-2022, foreign direct investment in high-end property totalled 63.3 billion rupees (R25 billion) – roughly 40% of all international investment inflow, according to the Bank of Mauritius.\u00a0<\/span><\/span><\/p>\n Bloomberg said that with demand increasing, property sales helped push inflows to 25 billion rupees (R10 billion) in 2022.\u00a0<\/span><\/span><\/span><\/u><\/p>\n According to the Africa Wealth Report 2022<\/a>, Mauritius is home to just under 5,000 high-net-worth individuals – a 78% growth compared to the prior decade.<\/p>\n The island is highly coveted by wealthy individuals around the world due to its strategic location, dynamic business landscape and advantageous fiscal regime.\u00a0<\/span><\/span><\/u><\/p>\n \u201cOverseas investors are attracted to Mauritius because of the lifestyle but also because it is considered one of the safest African nations with a dynamic economy and stable political framework. It makes sense fiscally with property buyers seeing a good capital uplift from their investment, ” Robert Green from Sphere Estates<\/a>\u00a0said.\u00a0<\/span><\/span><\/p>\n “The <\/b><\/span><\/span>IRS (Integrated Resort Scheme)<\/span><\/span> <\/b>is also a big draw as it gives buyers residency rights and tax advantages, creating an enabling environment for investment.”<\/span><\/span><\/p>\n He added that there was an increasing number of families relocating – full or part-time – to the island nation due to the lavish lifestyle on offer, the business environment, and good-quality schools.<\/p>\n