Properties for sale in Mauritius

2Futures properties for sale in Mauritius

2Futures is the largest Mauritian developer of luxury residential and commercial properties with roots in property development and management solutions.   

Since its creation in 2007, 2Futures has attracted numerous local and foreign investors and more than 500 international clients from 16 different countries.  

The company has a growing portfolio of outstanding commercial and residential property developments in the North and West coast of the island.  

Partnering with some of the best professionals in the construction field, 2Futures has acquired an excellent reputation for changing the Mauritian landscape with concepts and design aesthetics inspired by the ideal tropical beach lifestyle. 

We have a wide range of properties for sale in Mauritius including apartments, penthouses and villas. Our properties are GFA certified and backed by a solid guarantee. 

Types of properties for sale in Mauritius 

Apartments 

There are many channels for foreign investment in Mauritius. And for a new investor, a choice to buy an apartment in Mauritius would be one smart move. 

The Mauritian government actually has several conduits allowing foreign investments in real estate. However, apartment units built under its G+2 scheme are the most suitable for newbies at investing in real estate. 

The pricing of G+2 apartments starts at a relatively more affordable level for those just new at real estate investing. Under the G+2 programme, non-citizens of Mauritius can invest in apartments priced from MUR6 million (about USD150,000). Additionally, those who buy an apartment in Mauritius at a purchase price of over USD375,000 under the G+2 scheme are eligible for permanent residency. 

Non-citizens don’t need an occupation permit, residence permit, or a permanent residence permit from the government to purchase G+2 apartments. They can also buy more than one apartment under this scheme and have their property as a rental investment. 

Penthouses  

Penthouses in Mauritius are the ideal choice for buyers looking for fantastic views and luxury amenities. Coastal penthouses on the island, in particular, offer unobstructed views. This is so unlike in many home buying destinations elsewhere in the world where high-rise condominiums are the norm along the coast. 

Penthouse apartments in Mauritius enjoy this advantage because of the forward-looking building code on the island. It limits the height of residential buildings constructed in the coastal regions of Mauritius. 

As top-floor units, therefore, penthouse apartments in Mauritius, are amongst the prized residences on the island. You can become a 2futures’ penthouse owner as from only $375,000! 

The well-designed sumptuous penthouses with rooftop terrace are perfect to open up to the spectacular island and sea views of Mauritius. 

Villas 

The number of villas for sale in Mauritius has risen in the last decade as they are standout units amongst the country’s real estate developments.

The remarkable features that set a villa apart from other residential types include the niche living that it provides. 

Living in a villa is the epitome of a comfortable and private lifestyle. A villa as your residence allows you to enjoy the privacy of its deck, terrace, or garden. This feature also brings a touch of luxury and sophistication to the way you live. 

A search for prime properties for sale in Mauritius, namely luxurious villas, would typically take you to real estate projects developed either under the government’s Integrated Resort Scheme (IRS) or Property Development Scheme (PDS). Foreigners are eligible to buy a property under these schemes, and with a purchase under the IRS, they can rent out the residence. 

This rental possibility makes IRS properties popular amongst foreign investors. Moreover, IRS developments are laden with high-end amenities and are located in high-value sites in Mauritius. 

Worry-free living comes with a villa as your residence, too. A service provider manages the whole property development, giving you plenty of time to enjoy all its amenities. 

Benefits of investing in Mauritius 

Wealthy people choose to live and work in Mauritius, contributing to its status as one of the fastest-growing economies in Africa. Mauritius attracts a steady number of high-net-worth individuals (HNWIs), many of whom invest in luxury island property to qualify for residency. 

To that end, the Mauritius government encourages entrepreneurship and invites foreign investment in a broad range of industry sectors. In exchange, foreigners get to apply for a 10-year Occupation Permit. This is conducive to the long-term stability of the island economy.   

A New World Wealth report on wealth migration, published in collaboration with AfrAsia Bank, highlights ease of doing business as a motivating factor for HNWIs to move to other countries. Mauritius is ranked first in Africa and 13th worldwide in the World Bank’s 2020 Doing Business Report. Fiscal policy, good governance, ethics, transparency, political and economic freedom all contribute to its strong reputation. In addition, it has a transparent and well-defined investment code and legal system.    

The island’s location benefits pleasure-seekers with its magnificent scenery and glorious beaches, lapped by the warm Indian Ocean. Investors who live in Mauritius get that, and so much more. The island is a key connector for Asia and Africa, a signatory on several international treaties, and a portal to European and American markets. 

Interesting investment schemes 

Integrated Resort Scheme (IRS) 

Live the resort life! Foreigners can buy residences such as villas, townhouses, apartments, penthouses, duplexes and serviced plots (maximum extent 1.25 arpents or 5,276 square metres) in approved IRS projects. 

The advantage of buying in an IRS is the prescribed inclusion of resort-style facilities for shopping and leisure pursuits. The land area must be at least 10 hectares and the development must be of some benefit to the neighbouring communities. In addition, developers must provide management services to homeowners such as security and maintenance. 

Buying a home in an IRS for a minimum USD 375,000 makes noncitizens and their dependents eligible for a residence permit. In addition, they can become tax resident in Mauritius. 

Owners are allowed to rent their property. What’s more, there is no restriction on the repatriation of funds or revenue received from the property’s sale or rental. Non-citizens with a residence permit under the IRS do not need an Occupation or Work Permit to invest and work in Mauritius.  

Real Estate Scheme (RES) 

Non-citizens can also qualify for a residence permit under the RES. These luxurious developments are usually smaller residences comprising villas, penthouses, duplexes and apartments. The minimum investment for a residence permit for the investor and their dependents is USD 375,000.  

Owners are allowed to rent their property. There is no restriction on the repatriation of funds or revenue received from its sale or rental. In addition, owners can become tax resident in Mauritius.   ‍ 

Non-citizens with a residence permit under the RES do not need an Occupation or Work Permit to invest and work in Mauritius. 

Property Development Scheme (PDS) 

The Economic Development Board introduced the PDS in 2016 to facilitate the development of high-end properties for sale to noncitizens. These international-standard developments incorporate large open spaces as well as top-notch leisure and recreational facilities. Daily management services are provided. 

For as long as a homeowner owns a residential property purchased for a minimum USD 375,000, they can live in Mauritius under a residence permit. 

This also covers their spouse, dependent parents and children younger than 24 years. What’s more, they do not need an Occupation or Work Permit to invest and work in Mauritius. 

Ground + 2 (G+2) 

Foreigners may buy apartments outside the approved residential schemes. However, these must be in a complex that comprises at least two levels above ground (G+2). In addition, the price point must be a minimum of MUR 6m or its equivalent in a hard convertible foreign currency. For any purchase above USD 375,000 (or the equivalent in another currency) a noncitizen may apply to the EDB for permanent residency and is exempted from the requirement of a work or occupation permit. This applies for the dependents of the buyer as well. 

Vefa 

Vente en État Futur d’Achèvement (VEFA) enables investors to buy property in Mauritius off-plan. 

Conditions imposed by the global pandemic continue to inspire people to make changes to their home environment and lifestyle. Many are keen to buy property off-plan that better suits their changing needs. 

Those who are scaling up or down, or planning to move to Covid-safe countries like Mauritius will be well advised to buy property off-plan. 

4 reasons to invest in property off-plan 

1. Reputable developer 
   The most important thing to do is research the developer to establish their track record. Do they deliver according to their agreements with buyers? How many homes have they sold off-plan and delivered within agreed timeframes and according to quality standards? Buying off-plan from a reputable developer, with a proven track record, is a must. 
2. Early-bird pricing 
   The first phase of a new development is always competitively priced to get sales going. Buyers who get in early will have the pick of the properties. Therefore they will see accelerated capital growth compared to investors who buy when the development is established. By the time early-bird buyers celebrate the completion of their new home and move in, their investment will already be more valuable. 
3. Brand-new home 
   When you buy off-plan from a reputable developer, you spare yourself the stress of managing the design and construction of a new home. In addition, you may customize your home according to the options offered by the developer. This opens up your choice of layout, fixtures, and fittings. 
4. Rentability 
   Buying a property off-plan is a good idea whether you plan to rent it out or live in it yourself. You can enjoy a property untarnished by any other resident’s presence. This will also help you secure a higher rental. As you can’t be sure that the dates of transfer and occupation will coincide, you might have to set money aside for occupational rent. 

How to buy a property in Mauritius? 

If you’re in the market for a residence in Mauritius, do your homework to find the ideal match. The real estate market in the country has grown increasingly sophisticated in recent years. The choices for a property in Mauritius for foreigners come in different price ranges and residential styles. 

Mastering the steps towards ownership of a Mauritian residence is essential. Importantly, foreigners may only buy Mauritius real estate in certain government-approved schemes designed specifically to attract investment from overseas buyers. 

Choose the right scheme 

It’s a smart move for foreign home buyers to examine which of these suit their respective needs and budgets. Foreigners who want permanent resident status and the option to work in Mauritius can choose from residences built under the Property Development Scheme (PDS). 

Secure government approval 

To be eligible to purchase Mauritius real estate, a foreigner must obtain prior approval from the country’s Economic Development Board (EDB). Noncitizens need the following documents to apply to buy property in Mauritius: 

• a notarized copy of the first five pages of the applicant’s passport 
• a letter from a Mauritian notary or local bank certifying the validation of the “Know Your Client”  protocol 
• a completed application form for the resident permit 
• a notarized copy of the applicant’s birth certificate 
• an extract from the applicant’s police clearance/record six months before the application 
• a non-refundable processing fee of MUR10,000 

Exercise due diligence on developments 

There are now about 150 real estate projects available under the schemes made possible by the Mauritian government since 2002. 

Make sure that the residential property you select is backed by developer or builder guarantees on par with industry standards. It is wise to deal with the likes of 2Futures, the no.1 real estate developer in Mauritius. 

Get in touch with a professional real estate agent 

Buying a home in Mauritius, as in most other markets, is a complex process especially for noncitizens. Contact a local real estate agent who can help you choose which of Mauritius’s foreign investment schemes suits you best. A professional will have contacts with local developers and give you advice on the quality of their projects and the best value-for-money property choices.  

Scrutinise property title deeds and specifications 

Check the validity of all the documents of the property you are buying. Make sure that the property meets the developer’s specifications on completion of construction. 

Furthermore, check on facilities such as the completion date of the swimming pool, particularly if you are buying a home in a residential complex. Likewise, discuss maintenance costs and rules and regulations associated with life at this address. 

Hire an experienced notary 

Notarial services are a must. You will need an experienced notary to draft the property deed and make sure that all documents comply with Mauritian laws. The notary will submit the signed sale agreement to the Registrar General of Mauritius. Buyers are free to choose their notary and their real estate agent can advise them on that. Mauritian notary fees vary between 0.5 percent and 2 percent of the total transaction cost. 

Talk to a 2Futures consultant

The easiest way to buy a property in Mauritius is to get in touch with a 2Futures consultant who will guide you throughout the process, refer the best partners for your project, and answer your pressing questions with accuracy.