Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in Mauritius is experiencing significant growth and development.
Customer preferences: Customers in Mauritius are increasingly interested in purchasing residential properties, both for personal use and as investment opportunities. The demand for residential real estate is driven by several factors, including the country's stable political environment, attractive tax incentives for property ownership, and the growing popularity of Mauritius as a tourist destination. Additionally, the government's efforts to promote foreign investment in the real estate sector have also contributed to the increased demand for residential properties.
Trends in the market: One of the key trends in the residential real estate market in Mauritius is the rise of luxury properties. High-net-worth individuals from around the world are attracted to the country's beautiful landscapes, favorable tax regime, and high-quality infrastructure. As a result, there has been a surge in the development of luxury residential properties, including villas, penthouses, and beachfront estates. These properties offer exclusive amenities and services, catering to the discerning tastes of affluent buyers. Another trend in the market is the growing popularity of integrated residential developments. These developments offer a range of amenities and facilities, such as shopping centers, schools, healthcare facilities, and recreational spaces, all within a single community. Integrated developments provide convenience and a higher quality of life for residents, making them highly sought after in the market.
Local special circumstances: Mauritius is known for its beautiful beaches, lush landscapes, and vibrant culture, making it an attractive destination for both tourists and expatriates. The government has implemented various policies to encourage foreign investment in the real estate sector, including the Property Development Scheme (PDS) and the Real Estate Scheme (RES). These schemes allow non-citizens to purchase residential properties in Mauritius, further driving the demand in the market.
Underlying macroeconomic factors: Mauritius has a stable and growing economy, which has contributed to the growth of the residential real estate market. The country has experienced steady economic growth over the years, supported by sectors such as tourism, finance, and information technology. This has led to an increase in disposable income and purchasing power, enabling more individuals to invest in residential properties. Furthermore, the government's focus on attracting foreign direct investment has resulted in the development of infrastructure and the improvement of business conditions in the country. This has created a favorable environment for real estate investment, attracting both local and international buyers. In conclusion, the Residential Real Estate Transactions market in Mauritius is thriving due to customer preferences for luxury properties and integrated developments, as well as local special circumstances such as attractive tax incentives and government policies encouraging foreign investment. The underlying macroeconomic factors, including the country's stable economy and focus on attracting foreign direct investment, have also contributed to the growth of the market.
Data coverage:
Figures are based on total and average revenue of residential real estate transactions (sales).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.
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