Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Mauritius has been experiencing significant development and growth in recent years.
Customer preferences: One of the key factors driving the development of the Residential Real Estate market in Mauritius is the increasing demand from both local and international buyers. Mauritius has become an attractive destination for real estate investment due to its stable political environment, favorable tax policies, and beautiful natural landscapes.
Trends in the market: One of the major trends in the Residential Real Estate market in Mauritius is the rise in luxury properties and high-end developments. Many investors are drawn to the island's luxury real estate market, which offers high-quality properties with stunning views of the ocean or golf courses. These luxury properties often come with a range of amenities such as private pools, gyms, and concierge services, catering to the discerning tastes of wealthy buyers. Another trend in the market is the increasing popularity of gated communities and residential complexes. These developments offer a sense of security and community, with shared amenities such as swimming pools, tennis courts, and playgrounds. Gated communities also often provide maintenance services, making them particularly attractive to buyers looking for a hassle-free lifestyle.
Local special circumstances: Mauritius has a unique advantage as a residential real estate market due to its status as a tropical paradise. The island's stunning natural beauty, with its pristine beaches and lush greenery, makes it an ideal location for those seeking a peaceful and idyllic lifestyle. Additionally, Mauritius has a multicultural society and a welcoming attitude towards foreigners, which further enhances its appeal as a residential destination.
Underlying macroeconomic factors: The development of the Residential Real Estate market in Mauritius is also influenced by a number of macroeconomic factors. The government has implemented policies to attract foreign investment, including the Property Development Scheme (PDS) and the Real Estate Scheme (RES), which allow non-citizens to purchase property in Mauritius. These policies have played a significant role in driving demand and stimulating growth in the real estate sector. Furthermore, Mauritius has a strong and stable economy, with a low unemployment rate and a growing middle class. This has led to an increase in disposable income and purchasing power, making it easier for individuals to invest in residential real estate. Additionally, the government has invested in infrastructure development, including improved road networks and utilities, which has further boosted the attractiveness of the market. In conclusion, the Residential Real Estate market in Mauritius is experiencing significant development and growth due to increasing demand from both local and international buyers. The rise in luxury properties and high-end developments, as well as the popularity of gated communities, are key trends in the market. Mauritius' unique natural beauty, multicultural society, and favorable investment policies are local special circumstances that contribute to the market's growth. The strong and stable economy, along with infrastructure development, are underlying macroeconomic factors that support the development of the market.
Data coverage:
Figures are based on total and average value of residential real estate, residential estate transactions and leases.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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