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Last Updated: Sep 12, 2006

One of the most beautiful countries in Africa



Mauritius (pop. 1.2 million) is a small island nation in the Indian Ocean, east of Madagascar and mainland Africa. It has one of the strongest economies and one of the most stable democracies in Africa. It has one of the highest standards of living in Africa, with a GDP per capita of US$5,080.

Foreigners can now buy property through one of the government's schemes: the Permanent Residence Scheme (PRS), Integrated Resort Scheme (IRS), and Scheme to Attract Professionals for Emerging Sectors (SAPES).

Mauritius GDP per capita graphUnder the PRS, the foreign investor can purchase up to 1.25 arpents (5,276 sq. m.) of residential property, at least 100 meters away from the sea. A minimum investment of US$500,000 is required.

Under the IRS, foreigners can purchase luxury villas of up to 1.25 arpents each. As a property-owner, a residency permit is also granted, which is extended to the investorís family.

SAPES is an incentive to encourage professionals to work in Mauritius, and allows foreign professionals to acquire residential property.




RENTAL YIELDS
Last Updated: Nov 24, 2005



Mauritius exchange rate graphProperty prices are around US$700 to US$850 per sq. m. A 100-square meter (sq. m.) property in Port Louis can be bought for around US$85,000. A 500 sq. m. property would cost around US$350,000.

A 500-sq. m property in Port Louis can produce income from rent of around 6.17% per annum. The general rule here is that the smaller the property, the lower the yields. With a 200-sq. m property, the yield can go down to about 4.5%.

Read Rental Yields  »



TAXES AND COSTS
Last Updated: Feb 12, 2013



Rental Income: Rental income by nonresident individuals is taxed at 15%.

Capital Gains: There are no capital gains taxes in Mauritius.

Inheritance: There are no inheritance, gift, wealth, or estate taxes.

Residents: Residents are taxed on worldwide income at a flat rate of 15%. Residents are entitled to income tax allowances that vary depending on the family circumstance of the taxpayer.

Read Taxes and Costs  »



BUYING GUIDE
Last Updated: Feb 12, 2013



Total round-trip cost is around 7.875% to 14.60%. Notary fees are around 0.50% to 2% of the property value, plus 15% VAT,. The seller pays the transfer tax at 5% of the property value if the seller has owned the property for more than five years, and at 10% of the property value if the seller has owned the property for less than five years.

Properties are mostly quoted in either Mauritian Rupee (MUR) or US dollars (US$).

Read Buying Guide  »



LANDLORD AND TENANT
Last Updated: Jan 01, 1970


Rents are fixed for 3 years in Mauritius

Mauritius luxury villasMauritian rental law is generally pro-tenant.

Rent: The initial rent is regulated by the Fair Rent Tribunal and cannot be changed within the first three years of tenancy. Rent increases must be justified by the landlord.

Tenant Security: A landlord must go through the court system when evicting a tenant, as only District Courts have the power to evict. In case of eviction due to landlordís use of the property, the court can order that the tenant be compensated for any prejudice suffered.

Read Buying Guide  »



ECONOMIC GROWTH
Last Updated: Sep 12, 2006


Emerging sectors boost economy

Mauritius beachfront propertiesOver the past two decades, Mauritius has emerged as one of Africaís strongest economies, backed by a stable political system. Over the past two decades, real output growth averaged around 6% annually. This led to a doubling of real GDP per capita and tremendous improvements in social indicators.

Mauritian culture is a product of settlement by inhabitants from other civilizations, French, European, Indian, Chinese, English, and African. There is no indigenous culture. This makes Mauritius a rich melting put of religions, foods, and influences.

English is the official language, but French is widely spoken and Creole, a French dialect, is preferred by locals.

Mauritius GDP growth graphInflation has been subdued from more than 10% in 1989-1992 to below 6% from 2003-2000.

However, in recent times, Mauritius' sugar and textile industries have struggled, because of the erosion of preferential trade agreements, and harsh international competition.

The Government is embarking on an ambitious diversification strategy, encouraging the Information and Communications (ICT) sector, and promoting the island as a seafood hub.







  • Stable economy & democracy
  • Multiple ownership options
  • Pro-tenant rental market
  • Moderate to high income tax rates
  • High transaction costs
RESIDENTIAL PROPERTY FACTS
Price (sq.m): n.a. For a 120 sq. m. property, usually an apartment.
Rental Yield: n.a. For a 120 sq. m. property, usually an apartment.
Rent/month: n.a. For a 120 sq. m. property.
Income Tax: 11.95% Assumptions: Owners are a non-resident couple drawing US$ / €1,500 per month in rent, with no other local income.
Roundtrip Cost: 11.24% The total cost of buying and then reselling an apartment. Includes:

* all transaction taxes and charges:
* lawyers' and notaries' fees
* agents' fees

Assumptions: The buyers are non-resident foreigners. The apartment cost US$250,00 / €250,000.
Cap Gains Tax: n.a. Assumptions: The property was bought for US$250,000 / €250,000, and sold 10 years later, after a 100% appreciation.
Landlord and Tenant Law: Pro-Tenant Rating is based on a detailed study of each country’s law and practice.

News & Discussion
APRIL 2013
MARCH 2013

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