{"id":33982,"date":"2022-10-04T13:31:27","date_gmt":"2022-10-04T09:31:27","guid":{"rendered":"https:\/\/preprod.villa-vie.com\/?p=33982"},"modified":"2022-12-21T09:40:49","modified_gmt":"2022-12-21T05:40:49","slug":"property-acquisition-in-mauritius-the-buying-process-for-mauritians","status":"publish","type":"post","link":"https:\/\/www.villa-vie.com\/en\/2022\/10\/property-acquisition-in-mauritius-the-buying-process-for-mauritians\/","title":{"rendered":"Property Acquisition in Mauritius | The Buying Process for Mauritians"},"content":{"rendered":"\n
\n
\n

In most cases, the purchase of a real estate property<\/a> is a lifetime investment which is usually done in different steps. In order to avoid any trap and to ease up the purchase process, it is highly recommended to have all necessary information. While it is up to the buyer to search for the perfect property to buy, hiring property professionals such as a reliable real estate agency and a trustworthy notary, remains essential. Regarding property acquisition in Mauritius<\/a>, you will find below les key steps of the buying process for Mauritians.<\/p>\n\n\n\n

Identify your dream property<\/strong><\/h3>\n\n\n\n

Be it for your primary residence, secondary or only for investment purposes, several criteria should be considered while purchasing your dream property<\/a> : the property type –  choosing between a house in a non-coastal town, a beachfront villa, a PDS apartment or a G+2, a penthouse, an agricultural or residential land; the geographical location of the property \u2013 the selling price of a property varies according to the region in which it is located, the North and the West being the most sought-after regions; the characteristics of the property such as the number of rooms, living surface area, with, or without private pool\u2026Villa Vie features a wide array of real estate properties for Mauritian; you are just a couple of clicks away!<\/p>\n<\/div>\n\n\n\n

\n
\"\"<\/figure>\n<\/div>\n<\/div>\n\n\n\n
\n
\n

A lifetime investment<\/p><\/blockquote><\/figure>\n<\/div>\n\n\n\n

\n

Hiring a trustworthy property agency<\/strong><\/h3>\n\n\n\n

To avoid any bad surprise, it is recommended to hire the services of a property professional. Who better than Villa Vie<\/a>, celebrating this its 40th<\/sup> birthday to be trusted for this mission? The agency acts as an intermediary between the seller and the buyer. Its role: perform an accurate evaluation of the property and accompany the buyer throughout the negotiation phase by guiding him in his choice. The agency is dedicated to advising the buyer in total objectivity and independence in terms of attributes, weaknesses or added-value concerning a particular property. The property agency provides the buyer with a 3600 view on the most relevant projects in line with the latter\u2019s preferences. <\/p>\n\n\n\n

During a property acquisition<\/a>, the buyer should ensure that the notary has checked and vetted all required documents and that these documents are in order, most importantly the title. Hiring an agency prevents the buyer from taking unnecessary risks as for a property to be listed by a reliable agency, this means that the latter has already checked and validated the documents.<\/p>\n<\/div>\n<\/div>\n\n\n\n

Hiring a notary<\/strong><\/h3>\n\n\n\n

It is common practice in Mauritius <\/a>that it is the buyer that chooses the notary to work the sale transaction except in specific cases such as property acquisition within a project where the notary is selected by the promoter. The notary acts as a counsel to both parties, the buyer and the seller. His mission is to check and vet every clause of the sale agreement. Before signing the documents, the notary takes care of verifying the existence of any mortgage and charge, as well as of the registration of the sale agreement at the Registrar before providing the buyer with a copy.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Fees<\/strong><\/strong><\/h3>\n\n\n\n

Buying a property in Mauritius implies various fees:<\/p>\n\n\n\n

Registration fees of 5% of the property value freehold (First-time buyers get an exemption of registration duty on the first 5 million MUR on the costs of a property).<\/p>\n\n\n\n

Notary fees based on the following scale (plus 15% VAT):<\/p>\n\n\n\n