Developers got on a beeline to list under the Property Development Scheme (PDS) when it debuted in 2015. Since then, the Economic Development Board (EDB) has approved some 70 PDS Projects. This as hundreds of residences built have been sold in the initial PDS ventures. This programme’s remarkable track record is founded on four factors that help push real estate investment in Mauritius.
Aspiring buyers of PDS residences may need to make firm decisions promptly on a purchase. This is because these properties cover and appeal to a broad range of potential buyers.
Buying in PDS projects is open to Mauritian citizens, the Mauritian diaspora, and foreign nationals. Besides individual buyers, a PDS residential purchase is also open to institutions such as companies, partnerships, trusts, and foundations. Mauritius’s liberal tax regime plus residence eligibility with a PDS purchase notably makes this scheme quite appealing to foreigners.
The Serenity Villas of 2Futures excite a wide range of PDS property buyers
2. Competitive pricing vs. other island markets
A real estate investment in Mauritius is attractive especially to international buyers. The prices of properties in the country are competitive compared with other island markets.
The database Numbeo lists the average price per square metre of a city-centre apartment in Mauritius at USD791.62. On the other hand, Global Property Guide figures indicate higher square footage prices for similar residences in Caribbean Islands. These average prices range from USD1,007 in Puerto Rico to USD7,056 in Bermuda.
3. Attractive installment scheme
Prospective buyers of PDS residences can pay through installments if they buy off plan or in a sale before project completion. They sign with the developer in a contract called VEFA or Vente en l’Etat Futur d’Achevement.
This setup is ideal for investors. Potentially, they could earn profit on a resale upon delivery of the residence. Buyers can also bring in their specific design preferences to the residence while it is in the pre-construction phase.
4. Eclectic high-end residential choices
Promoters of PDS projects offer an amazing array of upscale residential types. The portfolio of 2Futures’ four PDS ventures, for instance, provides a selection of apartments, penthouses, duplexes, and villas.
These developments also provide high-end amenities. These include swimming pools, fitness facilities, and concierge services.
5. Well-preserved and breathtaking locations
Invariably, PDS projects are located in prime parcels that captures the natural splendor of the island. Many of these developments are set right on the islands’ pristine beaches or just minutes away from the coast.
Developers painstakingly take measures to preserve the natural setting within and around their projects. Given this posture, hopes could remain high that interest on real estate investment in Mauritius well extends to future generations.
English