Surge in Luxury Property Drives Mauritius Foreign Direct Investment Inflows to $503 Million
RE/MAX 24, a reputable real estate agency in Mauritius is celebrating its six-year anniversary this year on the island with great accomplishments to showcase. Demonstrating excellence in their field, our agents have consistently delivered top results, surpassing thresholds and setting new standards, as evidenced by their performance in the RE/MAX SA Statistics. Currently boasting a portfolio of over 200 properties for sale, RE/MAX 24 ensures a diverse range of options catering to various preferences and locations across the island. Whether it's a dream home, an investment opportunity, or a commercial space, RE/MAX 24 prides itself on its ability to fulfill any property need with expertise and professionalism.
Barbara Sansom, our esteemed real estate agent, has clinched a coveted 8th position among the top 10 tier agents in the RE/MAX Franchise Group of South Africa for the year 2023. With over two decades of invaluable experience in the real estate sector, Barbara specializes in luxury properties spanning across every corner of the island. Whether you're seeking to buy, sell, or invest in property, Barbara Sansom is your go-to expert for all your real estate needs.
Cabous Van Der Westhuizen, a relative newcomer to the real estate industry, has made an impressive mark on the scene, climbing the ranks to break into the top 100 in the RE/MAX Franchise Group of South Africa for the year 2023. Despite being in real estate for less than a decade, Cabous's dedication and expertise have propelled him to this prestigious position. Teaming up with Barbara, they have become a formidable force, effectively navigating both the South African and European markets with finesse and determination.
RE/MAX 24 has emerged as a contributor to the Foreign Direct Investment (FDI) influx in Mauritius, thanks to its portfolio of foreign clients. Notably, a substantial portion of these clients hails from South African and the European Market, choosing to invest their funds in purchasing luxury properties through the RE/MAX 24 and Barbara Sansom. This trend underscores RE/MAX 24's role in facilitating cross-border investment and bolstering Mauritius' economic growth through the real estate sector.
Foreign direct investment (FDI) into Mauritius, a nation heavily reliant on tourism, experienced a significant surge in the nine months leading up to September, marking a 27% increase to 23.1 billion rupees ($503 million) compared to the previous year. This upswing was primarily driven by heightened property transactions, according to data released by the Bank of Mauritius headquartered in Port Louis.
A staggering 69% of the total foreign investments poured into real estate activities, totaling 15.85 billion rupees, showcasing a substantial 59% surge year-on-year. Specifically, sales of high-end residential properties to international buyers saw a notable increase, rising by a third to 10.24 billion rupees, as reported by the Bank of Mauritius.
Preliminary figures from the central bank also indicate a more than twofold increase in investments towards accommodation and food services activities, reaching 2.48 billion rupees during the same period.
These investment inflows are poised to bolster the nation's tourism revenue and augment its exports of manufactured goods, crucial sources of foreign currency for Mauritius, nestled in the Indian Ocean. Notably, Europe emerges as the primary source of foreign direct investments, with France leading the pack.
Mauritius, known for its picturesque landscapes and vibrant tourism sector, continues to attract foreign investors, particularly in its real estate and hospitality industries. The recent surge in FDI underscores confidence in the country's economic stability and growth prospects, further solidifying its position as a preferred investment destination in the region.
A staggering 69% of the total foreign investments poured into real estate activities, totaling 15.85 billion rupees, showcasing a substantial 59% surge year-on-year. Specifically, sales of high-end residential properties to international buyers saw a notable increase, rising by a third to 10.24 billion rupees, as reported by the Bank of Mauritius.
Preliminary figures from the central bank also indicate a more than twofold increase in investments towards accommodation and food services activities, reaching 2.48 billion rupees during the same period.
These investment inflows are poised to bolster the nation's tourism revenue and augment its exports of manufactured goods, crucial sources of foreign currency for Mauritius, nestled in the Indian Ocean. Notably, Europe emerges as the primary source of foreign direct investments, with France leading the pack.
Mauritius, known for its picturesque landscapes and vibrant tourism sector, continues to attract foreign investors, particularly in its real estate and hospitality industries. The recent surge in FDI underscores confidence in the country's economic stability and growth prospects, further solidifying its position as a preferred investment destination in the region.
16 Feb 2024
Author Jay