Mauritius is a small tropical island which offers big rewards for investors. An exceptional climate, a stable political landscape and a vibrant, peace loving society make the island a sought after investment destination. Used by many investors as a hedge against more turbulent and uncertain locations, such as South Africa, the island’s property market has noted high double figure returns consistently for many years and the market is still expanding rapidly. Foreign buyers investing in IRS or RES Properties, either as an investment, or when relocating to the tropical paradise, are given permanent residence for the buyer and their immediate family.
In the past five years the island has seen the introduction of several world class shopping malls and greatly improved infrastructure; including extensive motorways, a new airport, and a doubling of the islands commercial port capacity. There are few boxes that Mauritius does not tick as an investment destination. The tireless work of the high calibre Board of Investment makes it an inviting investment market noted for its ease of doing business.
BUT; and yes, there is always a but! Despite the many positives, investing in the Mauritian property market can be treacherous due to a myriad of reasons, such as:
unscrupulous developers who seek to take advantage of foreign investors;
developers with the best of intention but little or no experience in property development;
a lack of adequate professional input into projects;
disputes between project participants;
Such factors have led to the failure of many IRS and RES property developments in Mauritius. While the government and in particular the Board of Investment implement measures to address these problems, the islands non-invasive commercial laws allow businesses to operate in a free environment where it can be difficult even for state enterprises such as the BOI to regulate all business practices.
Nonetheless, Mauritius remains brimming with more positives than negatives and with assistance to effectively navigate its property market, investors can be assured that the promise of paradise can be just that! Terracon Property Investments is extensively and widely experienced in the Mauritian property market. We offer clients a unique and bespoke management service tailored to meet each client’s particular needs. Services are structured around our core services in the Mauritian Property market. It is possible for clients to purchase directly from developers, and this is common practice in Mauritius.
However, it is also a fact that seven in ten foreign property purchases in Mauritius result in a dispute between the developer and the purchaser. Investing in a property in Mauritius is a substantial financial commitment. Having the assistance and advise of an independent company, with an in-depth knowledge of the island and its property market, when purchasing a property in Mauritius, can ensure you peace of mind and will inevitably result in significant cost savings for investors.
Due Diligence specific to Mauritian Property – with an insight into the Mauritian property market, which few organisations have, Terracon can ensure that investors have clear and comprehensive information related to any potential property investment. This includes a detailed review of the property location and surrounds assessed against a client’s specific needs.
Project Management Service – Once investors have purchased a property, Terracon offers a complete turnkey project management solution to ensure that your property is delivered on time and to the highest level of quality. This entails dealing directly with the developer and its team to ensure that our client’s needs are met, including submission and approval of the requisite residence permits.
The Complete Mauritius – Terracon offers a complete and thorough service for client’s purchasing properties in Mauritius and relocating to the island either part time or full time. This service is all encompassing, starting with the due diligence on the potential property, the project management of the property delivery, dealing with the Board of Investment for residence permits, company formation, opening of banks accounts, arranging visit to schools if required, assisting with shipping of personnel belongings, and ensuring that client’s are properly settled once the arrive at their completed property.