Real Estate: Settlement Prices and New Opportunities

Where to invest?

Rural areas, or near the coast with beautiful views, are likely to appreciate in value. To avoid mistakes, we must keep abreast of infrastructure projects. A new road, which opens up a region and decreases with the distance-time employment centers (Port Louis, Ebene) will grow an investment property, says Denis Maujean, director Coprim Ltd.. On the road alignment Terre Rouge-Verdun is a multitude of land, farm today, which will be valued. Already, plans are underway property.

Among the areas that should attract: Riviere du Rampart, especially in its northeastern part, fueled by the success of the project Azuri land under cane West enjoying the overflow attractive coastal villages (Tamarin, Flic- en-Flac, Albion). Southeast also be of interest. In this region rather isolated and eccentric, "there are more than ideas projects "nuance Maujean Denis, who nevertheless believes in the potential, over a longer term.

In short, we must be aware of the fragmentation of agricultural land. However, Uttum Sanmukhiya, Director V5 ESTATE, warns: "Beware of lot sizes often close to the campaign. Attention also to the configuration, topography all play because the real value and potential. " No need to rush because "supply currently exceeds demand" with the entry of many farmland following RSV Blueprint projects and Sugar Investment Trust and sugar companies.

Areas that have the coast

In quinté winner: Grand Bay, Tamarin , Quatre-Bornes, Moka and Floreal. The prices reflect the continued demand.Good news, prices seem to have peaked. In these areas, land prices exceed Rs 20,000 the board. A Grand Baie and Tamarin, the average exceeds Rs 30,000 toise, as in the upscale neighborhoods of towns (Quatre Bornes, Curepipe and Balfour Beau-Bassin).

Old or new?

Buyers are reluctant to invest in the former. Homes, especially those with more than ten years, are struggling to find buyers.Mauritians of the upper middle class and wealthy prefer to invest in new or a building plot. This is the modern comfort, proximity to areas of business and commerce, that appeal to potential buyers.

At the nine apartments and subdivisions closed "for the upper classes" have the wind in their sails, is Uttum Sanmukhiya.Safety, maintenance, architectural style arouse enthusiasm. To secure these residential severances, it takes from Rs 15,000 the board and follow a strict set of specifications for construction (which inflates the final invoice). It is this type of habitat around-Wilhems Plains in Balaclava and rural areas close to major access routes. Small addition to these developments: buyers do not have to live with the work for years. This is the kind of annoyance with which the new owners must live in insecure grinds.

In cities, where land shortage, the apartments are a sensational, even in residential areas. The demand is such that prices take the elevator. According to the Director of REAL ESTATE V5, the price of old houses tend to fall. "The prices do not correspond to the actual value of the property where a slowdown in transactions." It comes down to more reasonable prices.

The outskirts

Too expensive land in Tamarin, Grand Baie or Mocha? Needless to persist in these areas want to buy expensive despite the lower prices. Choose the peripheries. A Grand-Baie, "landowners sell the acre between Rs 15 million and Rs 18 million," said Denis Maujean. Even near the path Twenty Feet, land is expensive, especially as "the road is increasingly crowded, dangerous, and no improvement project is in the pipeline of the District Council of the North". The alternative? Few kilometers inside: Folly, The Vale, Petit Raffray. Near Grand Baie and the highway, these villages have land trading at around Rs 5 million per acre. The view can be beautiful.

The valuation of land prices around Tamarin shows. A La Gaulette, grinds being often hold a latent demand and prices have shot up. Further north, Cascavelle tends to become an extension of Flic-en-Flac. Conveniently located on the coast, not far-Wilhems Plains, Albion continues to attract. But available land will be scarce. So, we should expect that land under cane are released and developed in the area, not far from Little River, which grinds up to now.

And soaring prices?

Denis Maujean is categorical : "There is a decrease in prices after artificial inflation." the government's decision to ban foreigners to buy property outside the IRS and RES was saving. Before that, owners enjoy the thought cows expatriates.

"This speculation has hurt the market," argues the director of Coprim Ltd.. The prices in both the old and the new, to buy or to rent, put beyond the reach of many Mauritians land and property. And "people who are improvised realtors helped to distort the market and complexifi er" Uttum Sanmukhiya distance. He explains the refusal of landlords to review selling prices down, some can make the most of their property. Back to basics: the law of supply and demand conditions in the market. Land developers and real estate should motivate the demand as they value new spaces.

Residential Land Prices *

Regions / localities Price Range (per square)

Upscale neighborhoods of Quatre-Bornes /> Rs 30,000 
Beau-Bassin-Rose-Hill/Floréal

Other city neighborhoods Rs 10,000 - Rs 25,000

Moka Rs 12,000 - Rs 30,000

Flic-en-Flac ** Rs 17,000 - Rs 40,000

Albion ** Rs 6000 - RS 18,000

Tamarin / ** The Preneuse> Rs 30,000

Periphery of Tamarin (La Gaulette, Petite Riviere Noire) Rs 12,000 - Rs 20,000

Grand Bay and North Shore **> Rs 30,000

Inner periphery of Grand-Baie Rs 5000 - Rs 12,000 
(The Vale, etc. / large areas)

Riviere du Rampart Rs 7000 - Rs 15,000 /> RS 15,000 grinds in secure

Balaclava RS 5000 - Rs 18,000

* Estimates with the assistance of professionals and the overlap of ads / ** excluding land waterfront considerably more expensive.