real estate in Mauritius

[sawan]

Hi
Could somebody please inform me about the house prices in Mauritius.I hear a lot of people are leaving the island for greener pastures.Jobs are a problem and also the fianancial situation is not rosy.Thanks Sawan

[Werner]

Dear sawan:
It is forbidden to strangers to buy real estate in MRU.!
Even...if you have a mauritian passport...it will be still forbidden for you to buy.
The point is:
You must be born native.!

[sawan]

Thanks ( O king of Mauritius ) I have lots of friends and relatives in Mauritius they are always telling me to leave crime riddled South Africa and move to mauritius but its impossible I guess.I would love to live in mauritius I have visited the Island as early from 1977 till now a total of 14 times.If thereb was a way I would certainly move.Thanks again have a lovely day Sawan

[Werner]

Dear sawan:
At least it is a matter of money,if you can enter MRU or not :
First :
There is an Extra-regulation...when you have 500.000 US$ or more.

(When you ask for buying real estate.: may be,you got.?)

Than :
Maybe one of your friends and relatives can give you a *Job-pro-forma*..??

Or :
You enter for 6 months...than you go out for 3 weeks...and enter for 6 months again..??
Not the best kind...but a way.

The best you can do is :
To ask a good lawyer...
perhaps Mr Arvin Rogbeer in :
22,Sir William Newton Street ( 6th floor.)
in Port Louis.

Collect some ideas with the help of your friends ...and than you're gonna ask him.!

All the best : Werner

[Ian Regnard]

I am not too sure where you get your info Werner but you should really check laws and regulation before saying what you are. In the last three years the government has allowed foreigners to buy property in Mauritius. There has been huge devellopment in Tamarin and other places where practically all houses has been sold to foreigners. They are very luxurious houses including security and golf course. The company is called RIS.
They are also a lot of property for sale in Mauritius beside those ones.

[macca06]

To Sawan,

Werner is partially correct. i am also looking to buy in mauritius but lucky for me my mother is mauritian.

I believe there is some sort of investment catch 22, were you have to invest like $50,000 or so USD. In relation to the Tamarin development it is the first of it's kind in mauritius and as far as i'm aware the only real estate avaliable to foreigners at this time it is very dificult however to buy almost impossible. However I think you may be able to buy through employment but i'm not too sure on that

[Werner]

To Ian Regnard:
Just try it yourself...you will see...
---------------
To macca: When your mother is mauritian: maybe other rules. Good luck.!

I know,what I'm talking about: I tried myself...

[Joe]

Hi,

Werner is right in what he said and ... he isn't !

It's simply so that as from July 2006 the new budget came together with several laws changed. Werner mentioned what was valid until July 2006 or may still be valid, as the administration needs time to carry out, what the government has decided. Until then the old laws are in force and nobody can predetermine exactly when a new law will become valid.

Some important changes are:

1. As a tourist its no longer possible to stay in Mauritius for longer than 3 months. This will have an impact especially on those who lived 6 months in Europe and 6 months in MRU. But these people can now live (not work!!!) 12 months a year in Mauritius if they can show that they spent around US$40000 a year in Mauritus. Guess this could lead to a new market place: Receipts exchange for expats

2. Shareholders of companies although not of Mauritian nationality can now get the permission to buy land if they fullfill some conditions (# of employees, revenues etc.) and it can be stated that its main use is for the company. This is something completly new in Mauritius !!! Before it was simply impossible for Non-Mauritians to own land in Mauritius.

3 Every Mauritian company can hire a non mauritian employee if they can ensure that he/she will earn more than 30000 Rupees/month.

I think since 2005 it's also possible to rent land for a period of time i.e. 20 years or so (Tamarin). After these years, somewhere was mentioned, that one should have the chance to extend for another 10 years or so. But at the end the land and everything on it falls back into Mauritian hands.

Hope I could clearify the situation a bit.

Joe

[Werner]

Hey Joe..!
Thx for your news and your intervention.!

It was really completely new ... for all of us...I think.

[mempep]

I looked into it with my family. It you have a Mauritian born parent you qualify for citizenship and therefore able to buy property (once citizenship granted). All the information is available via the Prime Ministers website. The citizenship process and other new schemes as announced last budget were supposed to be streamlined but I'm not sure if this has happened yet. I know citizenship could take up to 6 months due to the slowness of the public "service".

If you are married to a Mauritian citizen you can buy with your spouse however your name does not appear on the title. Your spouse's name appears and the title names them and their spouse as owners - therefore effectively giving you part ownership.

The new entry requirements are supposed to be a bit easier to meet than the old $500,000US invested but you'd need to inform yourself of that.

If buying property be aware that the price suddenly increases a lot of the time when the seller or agent finds out you are not a Mauritian or if they know you are returning to Mauritius following extended time overseas.

As Werner rightly points out a good lawyer may save you a lot of time and inconvenience.

The Govt departments, while being slow at their job are genuinely helpful once you find the right person to assist in the issue at hand. Trouble is you might be sent from pillar to post in your quest for correct information.
I found even the information on the PM's website was out of date and I went to the wrong department or address a couple of times when seeking information. Almost every Mauritian will give you their 2 bob's worth about what you are trying to do or find out and the problem with this is it is often incorrect or not the full story.

Also, again as Werner pointed out, the laws and public information may indicate one thing but putting it into practice and getting the official approval is often much more difficult.