How to choose between either rent or purchase of a real estate property in Mauritius?
Real estate in Mauritius is known for being less expensive compared to other countries benefiting from the same economic potential. Be it for purchase or rent of a real estate property, many criteria must be closely studied before investment. The real estate market in Mauritius is in great rise, particularly in towns.
Real estate in Mauritius, advantages and traps to avoid
The acquisition of a property requires a long term investment from your side. Later, it is possible to resell this type of property of real estate at a higher price, which will be able to generate some benefits outside the sale. To become the owner permits to optimise a property depending on desires, by bringing the desired modifications. The financial constraints are numerous while purchasing a heritage, whereby repayment of loans, maintenance, taxes and habitation insurance must be paid. Unstable economic contexts will engender a loss by reselling. The rent of a real estate property in Mauritius is suitable in the case of sudden changes like shifting due to a new job. The owner is the only one to face works linked to maintenance of the property. No modification or renovation must be effected by the tenant on the real estate property without pre-agreement on behalf of the owner. In long term, the latter is free to terminate the leasing contract or to modify the price of the rent.
Renting a real estate property in Mauritius, in great rise?
The rent of a real estate property is a sector which is in great rise, with rising demands coming from everywhere, comprising of Mauritians. The promoters propose a large palette of real estate properties to rent to their clients, ranging from apartments to studios. The selling-renting consists of a concrete market actually in Mauritius due to luxurious residences. The country disposes managing societies, via tour-operators, proposing rent on individual houses, against a percentage. By going in urban zones, the value of a real estate property comprising of 3 bedrooms is Rs. 25000 per month. Youngsters or unmarried persons orient towards small apartments which disposes an attractive rent rate of around Rs. 4000. As for foreign students, favouring cohabitation, they search for regions like Saint-Pierre or Rose-Hill. For expatriates staying in Mauritius for a limited period by their work contract, they generally opt for real estate properties fully furnished. They invest between Rs. 15000 and Rs. 60000 per month so as to find the appropriate type of accommodation adapted to their needs.
The real estate rent in Mauritius and new orientations
If you have the necessary financial means to acquire a real estate property, the rent revenues are considerable. The renting Pool is the new trend in Mauritius, actually concerning the rent of real estate property. Both parties meet with an agreement, sharing the same real estate property, in relation to the use of property. The rent revenues, fees and maintenance must be shared between the concerned parties. Very often, the units of free accommodations, like a floor or ground floor, are put to rent by the real estate promoters, reducing syndic fees and the percentage. Concerning tariffs of accommodation connected to office spaces, the tendency is lowering. The delocalisation of office spaces constitutes a major problem, engendering a fluctuation of accommodation prices. You will see office spaces at Port-Louis being shifted to Ebene, having as consequence an important number of office spaces which have remained unoccupied with a lowering renting rate. To be able to rent offices in Mauritius, internet connection and an easy access to parking are indispensable, like Moka or Quatre-Bornes. The rent of houses transformed into office spaces is another trend in Mauritius.