Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Mauritius has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for this growth is the increasing demand for rental properties among both locals and foreigners. Many people are opting to rent rather than buy properties due to the flexibility and affordability it offers. Renting allows individuals to live in desirable locations without the long-term commitment of purchasing a property. Additionally, the younger generation is increasingly choosing to rent as they prioritize mobility and the ability to live in different areas as their career and lifestyle needs change.
Trends in the market: Another trend in the Residential Real Estate Leases market in Mauritius is the rising popularity of short-term rentals, such as vacation rentals and serviced apartments. With the growth of tourism in the country, there has been a surge in demand for temporary accommodation options. Many tourists prefer the convenience and comfort of renting a private property rather than staying in a hotel. This trend has led to the emergence of platforms and services that connect property owners with potential tenants, making it easier for individuals to rent out their properties on a short-term basis.
Local special circumstances: Mauritius has a unique real estate market due to its status as a popular tourist destination and its attractive tax policies. The country offers various incentives for foreign investors, such as the possibility of obtaining a residence permit through property investment. This has led to an influx of foreign buyers and investors in the real estate market, further driving the demand for rental properties. Additionally, the government has implemented measures to regulate the rental market, such as the introduction of a rental tribunal to resolve disputes between landlords and tenants. These initiatives have contributed to the overall growth and stability of the Residential Real Estate Leases market in Mauritius.
Underlying macroeconomic factors: The growth of the Residential Real Estate Leases market in Mauritius is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income and improved living standards. As a result, more individuals are able to afford rental properties and are willing to invest in the rental market. Furthermore, the government has implemented policies to attract foreign investment and promote economic diversification, which has stimulated the real estate market as a whole. These macroeconomic factors have created a favorable environment for the growth of the Residential Real Estate Leases market in Mauritius.
Data coverage:
Figures are based on total and average revenue of residential apartment leases.Modeling approach:
Market size is determined by a 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 considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
