If you’re entertaining thoughts of buying a real estate property in Mauritius, take note that it’s worth the investment. However, before taking any steps, you should ensure that you have the most current information available. Although there are no universal criteria for the acquisition of a property, some key factors need to be taken into account such as financial security, stability, maintenance expenses and flexibility. Navigating a real estate purchase is a tricky business. You can surely do a lot of the legwork yourself but there’s no substitute for an experienced professional. Real estate agents are extremely familiar with the purchasing processes. Their knowledge of the real estate market can save you time, money and heartache by helping you make the right choice. Once your objectives are set and your financial budget is determined, the real estate agent will help you find the property that best suits your needs, be it a house, a villa or an apartment.
Streamlined administrative procedures
Once the purchase agreements and other contracts are signed, you have a legal waiver period of 7 days. The documents should be sent by postal service attested by an acknowledgment of receipt, including date of receipt. Within the 3 months following the reservation, you will sign the authentic deed of sale with the notary while bearing the appropriate fees and costs. This official document certifies that you are the legal proprietor under the sale on completion plan (VEFA). You will be notified of the delivery date by mail and the keys of the premises will be handed over to you. A property assessment will be carried out by your operating officer and afterwards a delivery report will be signed. The delivery report includes the following clauses: inspection conditions, financing conditions, conditions of sale of the buyer’s property, inclusions, exclusions and date of possession. After taking possession of your property, you are covered by the mandatory guarantees of the developer.
Real Estate Investment Mauritius
Owning of an apartment in a private residence in Mauritius is definitely an asset and an easy way to make a lot of money. This can be a great family project and a smart investment to benefit from tax advantages and exemptions. In Mauritius, many apartments are built respecting the protected areas not far from the coast and which are inspired by the Mauritian architectural style. By becoming an owner of an apartment, you will easily adapt to the Mauritian lifestyle without changing your habits. For example, if you practice sports activities, well equipped sports complex will be a definite advantage.
Enjoy high standard services
The acquisition of an apartment in a private residence through the Real Estate Scheme (RES) gives you the eligibility to a permanent residential permit. Moreover, you can benefit from quality services including a well equipped kitchen, a swimming pool and other amenities. The purchase of an apartment in a private residence is an investment with high rental profitability. With a very high level of sunshine and summer temperatures throughout the year, you will also be able to enjoy a first-class secondary residence, ensuring you a substantial resale profit. Buying an apartment for rent is for some the best strategy to build up a heritage and save money. You can entrust the management to a company and thus obtain rental income taxed in Mauritius at a rate of 15%.