Invest in Mauritius from about R3.5m

ince recent changes in the Mauritian government’s property investment legislation made it easier to invest, foreigners have been streaming to the island.

Foreign buyers can now purchase property in popular developments close to the ocean, starting from R3.3m (about MUR8m). Severine Pietersen of Seeff Mauritius says an Economic Board of Development report shows that by September 2018 2,737 units were sold to foreigners, of which 22% were from SA.

“There are also many South Africans who live in Mauritius on work permits and as professionals or who have invested in schemes. Most of our long-term rentals are also to South African tenants,” she says.

SPietersen says South Africans tend to invest in properties priced between MUR8.5m and MUR20m (about R3.47m and R8.2m). Among the most popular developments starting from R3.5m, she rates KI Resort in the north (above), Mon Tresor in the south and Cap Tamarin in the west.

“We’ve noticed South African investors want to move here as soon as they find out they can acquire a property for a minimum of just MUR6m [about R2.5m],” says RE/MAX 24 Mauritius broker-owner Errol Areington. “As a foreign investment, this is one of the most affordable options.”

Most nonresident buyers prefer to let on a long-term lease, says Areington, or they can place their property in a rental pool.

He cites Black River and Grand Baie as investment hot spots. “Black River is traditionally where foreigners holiday and is now considered an elite area.”