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The real estate market in Mauritius has experienced notable changes over the years, particularly between 2011 and 2023. According to data from the Economic Development Board (EDB), there has been a significant rise in both the number of authorizations granted for property acquisitions and the total transaction value associated with these approvals.
Key data on authorizations
Over the past 12 years, the EDB has issued 5,345 authorizations for property acquisitions. These transactions collectively amounted to Rs 146 billion. Over this period, the number of authorizations increased by 250%, and the value of these transactions rose by 790%, from Rs 2.5 billion in 2011 to Rs 22.4 billion in 2023.
Year-by-year breakdown
The data indicates a steady increase in authorizations, with a sudden peak in 2022.
Impact of the COVID-19 pandemic
Comparing the pre-COVID period (2011-2019) with the post-COVID period (2020-2023) reveals a significant shift in market dynamics:
- Pre-COVID : The average number of authorizations per year was 343.67.
- Post-COVID : The average number of authorizations per year rose to 563.00, reflecting a 63.82% increase.
This increase can be linked to several factors, including heightened interest in remote work opportunities and a resurgence in investor activity following the lifting of travel restrictions.
Insights on transaction outcomes
As of the most recent data, 91% of authorized transactions have been concluded, 8% have been canceled, and 1% are pending. These figures suggest a high completion rate for approved transactions, reflecting investor confidence in the Mauritian real estate market.
The EDB data highlights significant momentum in Mauritius's real estate market, with a clear boost in activity following COVID and favorable indicators for sustained growth.
