Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Mauritius has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Mauritius have shown a strong preference for residential properties, particularly in the luxury segment. The demand for high-end villas and apartments has been on the rise, driven by both local and foreign buyers. Additionally, there is a growing interest in properties located in prime coastal areas, offering beautiful views and access to beaches.
Trends in the market: One of the key trends in the real estate market in Mauritius is the increasing popularity of property investment for non-residents. The government has implemented policies to attract foreign investors, such as the Property Development Scheme (PDS) and the Real Estate Scheme (RES), which allow foreigners to acquire property in Mauritius. This has led to a surge in real estate transactions involving foreign buyers. Another trend in the market is the development of integrated resorts and smart cities. These projects aim to create self-contained communities with a mix of residential, commercial, and leisure facilities. The development of smart cities, in particular, is driven by the government's vision of transforming Mauritius into a knowledge-based economy.
Local special circumstances: Mauritius is known for its political stability, attractive tax regime, and high quality of life. These factors have made it an appealing destination for both investors and individuals looking to relocate. The government has also implemented measures to facilitate property ownership for foreigners, including the provision of residency permits for property buyers.
Underlying macroeconomic factors: The growth and development of the real estate market in Mauritius can be attributed to several underlying macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, driven by sectors such as tourism, financial services, and real estate. This has created a favorable environment for property investment. Secondly, Mauritius has a strong tourism industry, attracting a significant number of visitors each year. This has created a demand for accommodation, especially in popular tourist areas. As a result, real estate developers have been focusing on building hotels, resorts, and holiday homes to cater to this demand. Lastly, the government's commitment to infrastructure development has played a crucial role in the growth of the real estate market. Investments in transportation, utilities, and connectivity have made Mauritius an attractive destination for property buyers and investors. In conclusion, the Real Estate market in Mauritius is experiencing growth and development due to customer preferences for residential properties, the increasing popularity of property investment for non-residents, the development of integrated resorts and smart cities, and the country's political stability, attractive tax regime, and strong tourism industry. These trends are supported by underlying macroeconomic factors such as steady economic growth and infrastructure development.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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