There are a few reasons why Mauritius continues to perform well each year and will always attract South African and foreign investors. We take a look at some of the key elements that have influenced the strength of the Mauritius market.
Strong economy and financial sector
Since 2000, Mauritius has climbed 26 positions in the Economic Freedom of the World (EFW) report, with it now ranking 8th position overall. Mauritius went through a huge transformation from being a low-income continent to diversifying its economy and becoming an upper-middle-income place to reside. With a thriving economy, the financial sector has also flourished with growth in the offshore and private banking and fund management.
Large number of wealthy individuals
Mauritius continues to attract High Net Worth Individuals, especially from South Africa and Europe. Currently Mauritius is home to around 4 600 High Net Worth Individuals compared to 10 years ago where they had approximately 1400.
Property ownership rights
The property market hugely influences foreign investment into the country. With all of the perks, knowing that individuals have property ownership rights makes Mauritius property even more attractive. In fact, the Mauritius government have specifically conceptualised property investment initiatives for foreigners, such as the Property Development Scheme (PDS).
Lifestyle perks
You can’t resist the appeal of the tropical island lifestyle Mauritius offers residents and visitors. Looking past the obvious sunny weather and beach vibes, Mauritius boasts a low unemployment and inflation rate, as well as low tax rates. It is safe, especially for children and women. Residents have access to world-class amenities, good schools, first-class food and produce.
Residency
When investing in Mauritius property over $500 000 those purchasing have the opportunity to receive permanent residency within Mauritius. For many looking to immigrate and invest, Mauritius is a smart choice, especially for South Africans. It’s even more so attractive as South Africa is merely a 4-hour flight to Mauritius.
There are many more reasons why Mauritius has achieved so much over the years. It continues to grow stronger each year, as a place for business, a first-choice to reside and visit, as well as to invest in.
