Evidenced by the gloom in the real estate sector. Especially since the beginning of the year. " There is a slowdown in business and it is becoming harder for developers to sell luxury apartments to foreigners, "admits a liaison between customers and developers.
The agent, who started in real estate in recent years, has witnessed the boom experienced by the sector in 2012. Several major projects have also sprung up this year, including the La Balise Marina , in Black River. Or, highlight the estate agents; foreigners are less fond of the Mauritian homes.
" There are already a few months that we have ceased to rely on foreign customers. Not that interests us more, but we noticed that foreigners are interested less in the concept” says Mohamed Goolam Hossen, Director of Quadricolore Properties Ltd, which deals in particular with the customers of apartments Azuri and villas Valriche. “Mauritians that buy luxury homes are potential for us now. "
According to this agent, there first has the price factor but also other expenses that come with maintaining a luxurious residence that discourage potential buyers.
There is also the fact that many foreign investors have been scammed. The villas and other residences IRS and Real Estate Scheme (RES) are governed by the legal framework of the sale prior to completion (off plan). In doing so, the buyer files a part of the amount required prior to construction, allowing the developer to raise money for these projects. " There have been developers who have faced financial difficulties and have never been able to complete their project. And the purchasers, they lost a lot of money. It does not help the industry, "argued another real estate agent.
The subject divides. On one side there are observers who are skeptical about the success of real estate projects in Mauritius and talk about market saturation. On the other hand, there are optimists who believe firmly that the Mauritian property has a bright future.
8 years, 2 months ago
In general, the real estate sector is slowing down. Some projects IRS-RES then stagnate others are reluctant to get started. Proponents believe that 'rethinking complete sector is necessary because the market and competition still stuck in the past ...
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Board of Investment (BOI) says that French are main buyers of properties in the category 'Integrated Resort Scheme' (IRS) in Mauritius. Indeed, 37% of foreign nationals who have acquired IRS villas come from France, 30% of South Africa and 20% in the United Kingdom.
9 years, 1 month ago