Buying real estate in Mauritius : What is the minimum budget?

The Mauritian real estate market: an attractive overview

The Mauritian real estate market is characterized by its diversity and dynamism, offering a wide range of properties to meet the needs and aspirations of all investors.

Types of properties:

Apartments : from cozy studios to luxurious penthouses, apartments in Mauritius offer excellent value for money and are perfectly suited to urban lifestyles and rental investors.

Villas : symbols of luxury and refinement, villas in Mauritius come in a multitude of styles, ranging from colonial villas to contemporary villas with private pools and landscaped gardens.

Lands : for those dreaming of building their own haven of peace, lands in Mauritius offer total freedom in terms of design and layout.

Factors influencing property prices in Mauritius

- Location: property prices are generally higher in popular coastal areas and sought-after neighborhoods.

- Proximity to services: the closeness to amenities such as schools, hospitals, shopping centers, and public transport increases the value of real estate.

- Property features: The size, number of bedrooms, presence of a pool, a garden, or an ocean view also influence the price of a property.

Understanding purchase costs in Mauritius

Buying real estate in Mauritius is a significant transaction that involves several additional fees that must be considered to establish a realistic overall budget.

Mandatory fees:

- Registration fees: 5% of the property value, payable by the buyer.
- Notary fees: they vary depending on the price of the property and the services of the notary, but they generally represent between 1% and 1.5% of the property value.
- Acquisition duty (TDS): 1.5% of the property price for non-Mauritian citizens and non-domiciled fiscal residents.
- Real estate agency fees: generally 2% of the property price, excluding VAT, paid by the buyer.

Additional costs to anticipate:

- Renovations and works: if you are planning to carry out renovations or works on your property, it is important to budget for these.
- Furniture and equipment: do not forget to take into account the cost of the furniture and equipment needed to furnish your property.
- Condominium charges: if you buy an apartment or villa in a residence with common areas, you will have to pay monthly condominium charges.
- Property taxes: property taxes in Mauritius are relatively low, but it is important to include them in your annual budget.
- Insurance: It is important to take out home insurance to protect your property against damage and risks.

What budget for what type of property in Mauritius?

The price of real estate in Mauritius varies considerably depending on the type of property, location, and features of the property. Here are some examples of price ranges to give you an idea :

Apartments:

Downtown studio: from Rs 1.5 million (about 37,500 euros)
2-bedroom beachfront apartment: between Rs 3 and Rs 5 million (about 75,000 to 125,000 euros)
Luxury penthouse with ocean view: more than Rs 10 million (over 250,000 euros)

Villas:

3-bedroom villa in a residential neighborhood: between Rs 5 and Rs 7 million (about 125,000 to 175,000 euros)
4-bedroom villa with pool on the beachfront: between Rs 7 and Rs 15 million (about 175,000 to 375,000 euros)
Luxury villa with panoramic island view: more than Rs 20 million (over 500,000 euros)

Lands:

Buildable land in rural area: From Rs 1 million (about 25,000 euros)
Buildable land on the beachfront in a sought-after area: Between Rs 5 and Rs 10 million (about 125,000 to 250,000 euros)
Land with ocean view and beach access: More than Rs 10 million (over 250,000 euros)
It is important to note that these prices are estimates and the actual price of a property can vary based on several factors. It is therefore important to do your own research and compare offers from different real estate agents before making a purchase decision.

Examples of minimum budgets to buy real estate in Mauritius:

Couple wishing to buy a 2-bedroom apartment on the beachfront: Rs 5 million (about 125,000 euros)

Family with 2 children wishing to buy a 4-bedroom villa with pool: Rs 10 million (about 250,000 euros)

Investor wishing to buy buildable land on the beachfront: Rs 5 million (about 125,000 euros)

Of course, these minimum budgets do not take into account the purchase fees and additional costs mentioned in the previous section. It is therefore important to plan an additional budget to cover these costs.

Investing in Mauritius as a Foreigner: What is the Minimum Budget?

The Mauritian government has established attractive real estate investment programs that allow foreigners to acquire real estate and obtain a residence permit. 

By purchasing residential property for a minimum amount of 375,000 USD (or its equivalent in other currencies), non-citizens obtain a permanent residence permit.
This permit is valid as long as the foreigner remains the owner of the property.

Non-citizens can also buy apartments in condominium buildings of at least two levels above the ground outside of approved residential programs.
The purchase price must be at least 6 million MUR (or its equivalent in other currencies).

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