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Wealthy folks have been moving to Mauritius in recent years for good reason. They can build their wealth even more, especially if they consider opportunities in Mauritius real estate for sale.
The growth in the number of well-to-do citizens of the island nation started in 2002 when its government-initiated development schemes allowed foreigners to purchase real estate. Following the initial implementation of these schemes and their subsequent refinements, the number of high-net-worth individuals in Mauritius rose to 4,400 in 2018.
Of the 150 development projects initiated under the country’s various real estate schemes attractive to foreign buyers, 2Futures was responsible for 18.
From its base in Grand Baie, 2Futures has introduced plenty of luxury choices in Mauritius real estate for sale – villas, duplexes, and apartments. It has also delivered modern commercial and business spaces in Grand Baie Business Quarter, completed in 2011.
The payback for those who invest in Mauritius real estate is fruitful and advisable. Compared to 2010 values, residential property prices in the country were up by approximately 133% in 2018. Some of the great picks in Mauritian residential developments include those in Flic en Flac, Grand Baie, Tamarin, Pereybere, and Quatre Bornes.
With the steady growth of real estate prices in Mauritius, a residential property investor can reap an average of 3-4 percent gain per year. Optimal gains of more than 50 percent over two years are possible in off-plan property transactions. Also known as VEFA (Vente en l’État Futur d’Achèvement), this entails investing in a residential property before its construction.
The buyer of a property under VEFA becomes its owner immediately after signing the deed of sale. This opens the potential for exceptional gains particularly in well-located beachfront or oceanview projects by reputable Mauritian developers such as 2Futures.
Investors from overseas are encouraged to stake their fortunes in Mauritius real estate because the country provides strong protection to private property rights. The 2020 Mauritian property rights index, as measured by the Heritage Foundation, is notably the highest in Africa. Private property rights are guaranteed by the Mauritian government and expropriation is unlikely.
Owning a property in Mauritius enables foreigners to build their wealth in the country in other ways. Under the government’s latest Property Development Scheme, foreign investors and members of their family are eligible for permanent residency. Subject to a set price range, real estate purchases by foreigners under these government programmes also open opportunities for them to work in Mauritius. They can rent out their properties as well.
Mauritius offers a host of economic sectors ripe for growing a business, or developing a career or profession. The country has a vibrant tourism industry, flourishing economic zones, and a thriving financial sector. Significantly, the Mauritian government allows foreigners living in the country to invest overseas with no exchange controls. In addition to the relaxed government regulations, taxes are relatively lower in Mauritius, and there are even some remarkable levy exemptions.
To cap it all, Mauritius exudes a natural island charm and beauty rarely found elsewhere. Such a splendid setting alone could easily inspire that million-dollar feeling. Combined with sound government policies, the Mauritian landscape indeed constitutes a ground fertile enough to send more millionaires moving to Mauritius.