Its different nationalities as a foundation helped propel Mauritius as a progressive nation and a thriving economy. With the multicultural strength it developed, the country hence allows non-citizens contributing to its growth to own real estate on the island. The government, however, only allows Mauritius property for sale to foreigners under certain programmes.
These schemes were formulated so that the non-citizens’ ownership of immovable property on the island is well-regulated. The government-approved real estate developments open to foreign buyers are also designed to prevent local land speculation.
The tone and tenor of regulations, however, shouldn’t discourage aspiring foreign buyers of residential properties in Mauritius. With some deft decision-making, they can bag the dream deal on a tropical island home, a productive rental investment, or both. Here are some smart ways for foreigners to buy a home in Mauritius.
2Futures brings a G+2 project in Pereybere via the Casa Alegria Beachfront development.
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Stay on the groove of the market
Since the country opened real estate investments to non-citizens in the early 2000s, the government has been updating its regulations. Hence, be on the lookout for new options on Mauritius property for sale to foreigners.
One new foreign investment window is the G+2 scheme that opened following the amendment of the country’s Non-Citizens (Property Restriction) Act. This scheme allows foreign purchase of apartments at least two levels above ground and priced not MUR6 million (about USD150,000). Foreigners can buy more than one G+2 unit and rent the property out. They are also eligible to obtain a temporary residence permit for a maximum of 6 months.
Explore the merits of off-plan purchases
Take advantage of the off-plan schemes that developers offer on projects in the pipeline or still under construction. Here, a foreign buyer enters into a Vente en l’Etat Futur d’Achevement (VEFA) contract purchase. This contract includes a financial guarantee of completion, and the buying price can be lower than that of a comparable existing residence.
Additionally, the foreign buyers can stagger their payments over the construction period. This payment period can stretch from around 18 months to two years, allowing buyers elbow room to manage their finances.
Go to developers with glocal thinking
Focus on purchase opportunities in the projects of developers with both global and local perspectives on their projects. This glocal approach is notably embedded into the property developments of 2Futures. This developer became no. 1 in luxury property development in Mauritius because of its experience on the island and other markets overseas.
The properties that 2Futures delivers not only appeal in form and concept to international buyers. These developments are also adapted to the nuances of the Mauritian environment, including the island’s geographical, cultural, economic, and political aspects. Given its glocal strengths, 2Futures can provide a one-stop-shop service package covering all the conceivable needs of foreign buyers.
Prime choices on Mauritius property for sale to foreigners are subject to government processes that non-citizens are wont to be unfamiliar with. 2Futures has lined up high-end Mauritius real estate developments staffed with professionals to expertly guide you through these steps. To learn more about these opportunities contact 2Futures consultant +230 5942 8106 or sales@2futures.com
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