No fence-sitting for Mauritius real estate buyers

Prospective buyers of Mauritius real estate cannot afford to dilly-dally these days. The inventory of the island’s property market is fast getting thinner. And they may miss out on the best picks if they fence-sit for too long.

Despite the Covid-19 pandemic, demand for both resale and off-plan market listings has been exceptionally strong, industry analysts noted. Buyers, they said, are focusing on properties in Grand Baie and Tamarin.

Confident wealthy buyers

Notably, buyers displayed confidence in seizing purchase opportunities on luxury residences in these popular homebuying areas. In 2020, the major purchases were off-plan or pre-construction, market-watchers said. The price tags of these sold properties were in the USD2–3 million range, they added. The high-end price points of Mauritius real estate properties sold reflect the growth of ultra-high net worth individuals’ potent presence in the island’s luxury property market.

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2Futures is experiencing this uptick in demand from luxury homebuyers. It has already sold out one of its new projects in Pereybere, the upmarket Casa Alegria Beachfront.

The sales pace is likewise upbeat in the other 2Futures projects in Pereybere which are still in the construction phase. At Ki Residences, for instance, there are only three penthouses available moving into the 2020 second quarter. This project is planned for a total of 56 units housed in a gross building area of 10,945 square metres. It has a development value of USD30 million.

2Futures has several other multimillion-dollar projects under construction in the north of Mauritius which are drawing keen buying interest. In the Pereybere area, these developments also include Ki Resort, Serenity Villas, and 2Beach Residences. 2Futures is also developing Ocean Grand Gaube and Ocean Point in the north of the island.

Perfect project renditions

The superb renditions of 12 prior 2Futures projects help drive strong market interest in these properties. In Pereybere, La Residence is a showcase of the excellence in 2Futures’ builds. 2Futures delivered its 26 townhouses in 2013. La Residence has a gross building area of 6,410 square metres and a development value of USD13 million.

Significantly, 2Futures has notched 100 % success in its development projects since its foundation in 2007. Besides residential developments, it has also delivered two commercial buildings to the Mauritius real estate market. These are the Grand Baie Business Quarters and the Mont Choisy Business Quarters. The office spaces in both have already been sold out, which to a great extent also underscores the vibrance of the Mauritius real estate market.

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