The state of the Real Estate Market in Mauritius
2023-05-08 08:12:54 • Jan Minnie
Let's take a look at some of the latest developments and news in the Mauritian real estate market this week:
1. Luxury real estate market remains strong: Despite the challenges posed by the COVID-19 pandemic, the luxury real estate market in Mauritius has remained strong. According to a recent report by Knight Frank, the country's high-end real estate market has witnessed steady growth in sales and prices over the past year. The report also highlighted the increasing interest of foreign investors in Mauritius' luxury properties.
2. Property prices continue to rise: Property prices in Mauritius have continued to rise in recent months, driven by high demand and a shortage of supply. The island's limited land availability and growing population have led to an increase in prices, particularly in popular areas such as Grand Baie and Black River. According to a report by Property Finder, the average property price in Mauritius increased by 5.5% in Q1 2023.
eh3. New real estate projects in the pipeline: Despite the pandemic, several new real estate projects are in the pipeline in Mauritius. One of the most notable projects is the upcoming Azuri Peninsula development, which will offer luxury apartments and villas overlooking the ocean.
4. Other notable developments include the upcoming Smart City of Cap Tamarin and the proposed redevelopment of the Port Louis waterfront.
5. Rental market remains strong: The rental market in Mauritius continues to remain strong, particularly in tourist hotspots such as Grand Baie and Flic-en-Flac. With the island's growing tourism industry, rental properties are in high demand, and rental yields are expected to remain stable.
6. Green Real Estate: Sustainability is becoming increasingly important for real estate developers in Mauritius. Many developers are incorporating eco-friendly features such as solar panels, rainwater harvesting systems, and energy-efficient appliances in their projects to attract environmentally conscious buyers. The government of Mauritius has also launched several initiatives to encourage sustainable development in the country.
That's all for this week's newsletter on Real Estate in Mauritius. Stay tuned for more updates on the exciting developments in the Mauritian real estate market.