Mauritius is a prime destination for real estate investors. If you are considering purchasing land on this island, it’s essential to understand the specific conditions and benefits of such an investment. Here is a guide for foreigners wishing to acquire serviced land in Mauritius.
The purchase of land by foreigners in Mauritius is strictly regulated. Here are the conditions and the main real estate programs to be aware of:
1. Integrated Resort Scheme (IRS)
The IRS allows foreigners to acquire land within luxury resorts. These projects often include high-end services and infrastructure such as golf courses and marinas.
2. Real Estate Scheme (RES)
The RES applies to smaller-scale real estate projects compared to the IRS. Foreigners can purchase land within these developments, which are often located in high-quality residential environments.
3. Property Development Scheme (PDS)
The PDS is a combination of IRS and RES, enabling foreigners to acquire land in integrated developments that include environmental and social aspects benefiting the community.
4. Smart City Scheme
The Smart City Scheme aims to develop smart and sustainable cities. Foreigners can buy land in these areas, which combine modern living, working, and leisure spaces.
Investing in land in Mauritius offers numerous advantages for foreigners, whether for a second home or a long-term investment.
1. Exclusivity and scarcity
Become one of the few owners: Only 25% of a real estate project’s area intended for property construction can be sold as building plots accessible to foreigners. This makes it a rare product, leading to less competition when reselling your investment.
2. Spacious plots
The plots are often much larger than those in built real estate projects, with an average of 1,000 m² compared to 450 m². This is especially appreciated by foreigners looking to relocate to the island.
3. Flexibility in construction
You have the freedom to choose the architect and builder of your choice, as long as you comply with the development’s regulations. This allows for reduced construction costs compared to buying a villa off-plan from a developer. If you prefer not to manage the project yourself, the developer can provide their teams to carry out your plans according to your wishes.
4. High-end developments
Thanks to the options offered by the various real estate programs, also known as “Schemes” in Mauritius, your property will be within high-end developments accessible to both foreigners and Mauritians, ensuring a privileged living environment.
Buying serviced land in Mauritius as a foreigner is not only possible but also highly advantageous thanks to the various available real estate schemes. Before taking the plunge, it’s essential to fully understand the specific conditions and to surround yourself with professionals to ensure a secure and successful transaction. Whether for a second home or a long-term investment, Mauritius offers exciting opportunities in an idyllic setting.
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