There are many things to thresh out when you’re planning to buy a plot of land in Mauritius and eventually build a house on it. There’d be price negotiations, for sure, and legal formalities have to be completed in the land purchase.
The entire land-buying process is typically time-consuming. And for this reason, many property investors, especially foreigners, opt instead to buy in real estate developers’ homebuilding projects.
True, foreigners can purchase a land parcel in Mauritius through the Permanent Residence Scheme (PRS). However, this programme first requires foreign buyers to invest a minimum of USD500,000 in qualified business activities. With such investment, they are allowed to acquire land for residential use. These investors can buy land of up to 1.25 arpents (5,276 square metres) located at least a hundred metres from the seafront.
A slice of the island’s sandy beachfront is a coveted piece of real estate in Mauritius.
Tougher route on leasehold “crown land”
For foreigners who want to buy land in Mauritius, there are other things to consider under the country’s property law. Notably, this law has been patterned after the French legal system that was based on the Napoleonic Code circa 19th century.
Foreign investors who prefer beachfront land are stymied not only under the PRS limiting their purchases to those properties beyond 100 metres from the seafront. Also, nearly all beachfront properties in Mauritius are leasehold, thus restricting full ownership of these parcels.
The government leases to individuals these seafront leasehold properties, which are commonly called “Crown Land,” for up to 60 years. In recent years, old leases having a balance of 15 years or more have been renewed for 60 years.
Take a faster track on freehold properties
Fortunately, private developers like 2Futures have acquired choice pockets of beachfront land where property buyers are entitled to full homeownership. These oceanfront homes are in freehold land where the owners have more control over the properties.
Many communities have already risen on these freehold beachfront properties, particularly in the north of Mauritius. Homebuyers and investors, hence, can fast track purchases in these completed private developments without undertaking complicated home construction themselves.
2Futures offers one choice in AO Residences, a gated luxury development already completed on freehold land in the north. Accessible to foreign buyers, this property is conveniently located off Merville Beach in Pereybere. The coastal road B13 brings it close to various points of interest in the north of Mauritius.
There are other picks of both completed and pre-construction developments on freehold land in the property portfolio of 2Futures. Rather than play out to buy a plot of land, the quicker way of owning a piece of the island could be a pick from these properties. Contact our consultant to gain a head start on freehold ownership of a residence in Mauritius.
English