Buying Off-Plan Property in Mauritius: A Complete Guide for you!

Purchasing off-plan property in Mauritius is an attractive option for investors and future homeowners looking for modern real estate in a stunning tropical setting. With favorable tax benefits, a booming property market, and a transparent process, buying property off-plan can be a lucrative investment. In this article, we’ll walk you through the steps, benefits, and key considerations for buying off-plan property in Mauritius.

What Is Off-Plan Property?

Buying off-plan means purchasing a property before it’s completed or while it’s still under construction. The property is bought based on the developer’s plans, designs, and specifications. As construction progresses, payments are made in installments until the final handover.

Why Buy Off-Plan Property in Mauritius?

1. Modern, High-Quality Properties
   Off-plan purchases guarantee a new, modern property built to the latest standards and design trends.
2. Flexible Payment Plans
   Payment is made in stages according to the construction timeline, easing your financial commitment.
3. Customization Options
   Many developers allow you to customize finishes, fixtures, and layouts to match your preferences.
4. Favorable Tax Policies
   Mauritius offers attractive tax incentives, including a flat 15% income tax rate and no capital gains tax, making it an ideal investment destination.
5. Potential for Capital Appreciation
   Properties often increase in value between the purchase date and completion, offering a strong potential for return on investment.
6. Legal Protections and Guarantees
   Off-plan purchases are protected by guarantees like:
   • Completion Guarantee (Guarantee of Completion)
   • Ten-Year Structural Warranty (Decennial Guarantee)
   • Two-Year Equipment Warranty (Biennial Guarantee)

Step-by-Step Process to Buy Off-Plan Property in Mauritius

1. Define Your Budget and Property Criteria
   Decide on your budget, preferred location, and type of property (apartment, villa, or townhouse). Popular areas include Grand Baie, Black River, Tamarin, and Moka.
2. Choose a Reputable Developer
   Work with trusted developers and ensure the project is approved by the Economic Development Board (EDB)for foreign ownership schemes like:
   • Property Development Scheme (PDS)
   • Integrated Resort Scheme (IRS)
   • Real Estate Scheme (RES)
   • Smart City Scheme
3. Sign a Reservation Agreement
   Reserve your property by signing a reservation agreement and paying a deposit (usually 5% to 10% of the property price).
4. Review the Sale Agreement
   The Sale Agreement (VEFA – Vente en l’État Futur d’Achèvement)outlines payment terms, timelines, and legal protections. Have a legal advisor review this contract.
5. Apply for EDB Approval
   Foreign buyers must obtain approval from the Economic Development Board (EDB), which typically takes 4-6 months.
6. Stage Payments
   Payments are made according to construction milestones, such as:
   • 15%at the start of construction
   • 40%when the structure is complete
   • 25%at roof completion
   • 15%at finishing stages
   • 5%at handover
7. Final Inspection and Handover
   Once construction is complete, inspect the property to ensure it meets agreed specifications before final payment and handover.Key Considerations When Buying Off-Plan
8. Research the Developer
   Check the developer’s track record and past projects for reliability and quality.
9. Understand the Legal Protections
   Ensure the contract includes all guarantees and protections required under Mauritian law.
10. Review the Specifications
    Understand what’s included in the price, such as finishes, fixtures, and appliances.
11. Plan for Delays
    Be aware that construction delays can happen, and plan accordingly.
12. Get Professional Advice
    Work with a licensed real estate agent and a legal advisor to guide you through the process.

Ready to invest in off-plan real estate in Mauritius? Contact us today to explore the latest projects!