Mauritius is an ideal market for foreign investors to flag off their first foray to cash in on rentals. And the rationale is sound for this. The government has successfully installed several incentive programmes enabling non-citizens to buy an apartment in Mauritius as a rental investment.
Amongst these schemes, the G+2 is one great template for first-time real estate investors on the island. This programme allows non-citizens of Mauritius to buy condominium apartments built at least two levels above ground (G+2). The country’s Economic Development Board approves such purchase for apartments priced from MUR6 million (about USD150,000) or its equivalent in another convertible, hard foreign currency.
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Notably, G+2 investors can easily maintain their purchased rental apartments partly as their seasonal vacation homes. The government in October 2020 launched a renewable one-year premium travel visa suited especially for investors. This visa is also designed for retirees, tourists, and digital nomads, who are all potential renters as well.
Foreign investors can get longer-term residency privileges in Mauritius via other government schemes. These conduits are the PDS, IRS, and RES bundled with a residence permit for property purchases starting from USD375,000. Additionally, those who buy an apartment in Mauritius at a purchase price of over USD500,000 under the G+2 scheme are eligible for a long-stay visa.
Significantly, the G+2 scheme also allows an investor to purchase more than one apartment. A well-funded investor thus has the opportunity to buy multiple income-generating units.
Endearing features for renters
Furthermore, Mauritius the real estate developments under the various property investment schemes generally flaunt features most appealing to renters.
Furthermore, Mauritius the real estate developments under the various property investment schemes generally flaunt features most appealing to renters. One classic example comes in the G+2 apartments in the Ocean Grand Gaube project of 2Futures.
This oceanfront property basks in a quiet nook of the Grand Gaube village. At the same time, it’s just minutes away from the bustling central business district of Grand Baie.
Ocean Grand Gaube provides many delightful resort-style amenities for renters. These include a private clubhouse, yoga pavilion, and a tennis court. There are separate pools for kids and adults.
Varying investment entry points
Investors can pick from Ocean Grand Gaube’s G+2 apartments priced starting from about USD394,000. These homes feature three bedrooms and three baths within floor plans measuring 118 square metres.
Certainly, 2Futures’s property portfolio holds plenty of other price points viable as rental investments. Contact our consultant to weigh which choice fits best your investment goal.