Mauritius real estate hurdles pandemic challenges

2Futures and other major players in the property market expect healthy growth for their sector in 2021. They believe that the island’s real estate industry has already hurdled the adverse effects of the Covid-19 pandemic.

An anticipated rise in demand from rental property investors fuels the local developers’ optimism. Encouraging for these investors, Mauritius has created a Covid-safe environment for work, leisure, and retirement that many are now looking for.

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Coveted community normalcy is back

Significantly, local Covid transmission is practically nil on the island since June 2020. As a result, community life in Mauritius has little to no disruption since then.

Strict quarantine measures and thorough testing protocols have effectively contained the Covid outbreak on the island. Notably, Mauritius scored a perfect 100 on the Oxford University Stringency Index tracking government policy and action regarding the pandemic.

As early as October 2020, Mauritius started progressively easing its entry requirements based on the pandemic’s global evolution. The country expects to relax its quarantine requirements following the early 2021 Covid vaccination rollout locally and in the country’s major markets. Covid-vaccinated foreigners may soon be granted free access to the island, thereby reinvigorating the Mauritius property market for rentals.

To help boost market demand, Mauritius launched its  Premium Travel Visa in November 2020. Holders of this new visa can stay on the island for a renewable one-year period. This long-stay visa targets tourists keen on extended vacations, retirees, and digital nomads or freelancers serving overseas clients. The Economic Development Board has reported encouraging response on the visa, with applicants mainly coming from France and South Africa.

New residential picks ready and aplenty

Mauritius real estate developers remain well-positioned to meet the looming rebound of demand on residential properties for non-citizens on the island. 2Futures, the No. 1 luxury property developer on the island, is delivering two multimillion-dollar projects in the 2021 first quarter.

These deliveries include 145 residences at Le Domaine de Grand Baie, an exclusive community for senior living. 2Futures is also set to deliver the 20 apartments of Les Residences de Mont Choisy in the second quarter of 2021,  further enriching the stock of the Mauritius property market.

In addition, construction is progressing steadily in 2Futures’ projects in Pereybere: Ki Resort, Serenity Villas, Ki Residences, and 2Beach Club. Work on another development, Ocean Grand Gaube, is also proceeding smoothly.

These projects and the brewing real estate demand on the island indicate that the Mauritius property market is past the initial hiccups of the Covid-19 pandemic.

Tap the potent opportunities that this recovery brings, contact 2Futures for any help you need.

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