The Mauritian real estate sector is benefiting from new measures in the 2024-2025 budget, aimed at facilitating homeownership, construction, and real estate investment.
For new buyers, the budget proposes to extend the financial support programs including subsidies and low-interest loans for the purchase of land and housing. These initiatives aim to make homeownership more accessible to Mauritians.
Concerning construction, the budget provides for the harmonisation of fees for Building and Land Use Permits (BLUPs) across all local authorities, simplifying administrative procedures for investors. The validity of these permits is also extended from two to three years, offering more flexibility to real estate developers in carrying out their projects.
The process of Land Conversion Permits in Mauritius will also be rationalised, allowing faster and more efficient expansion of real estate projects. Additionally, initiatives are being put in place to encourage investment in the construction of social housing, with tax incentives and subsidies for developers.
To stimulate the supply of housing, the budget introduces an urban regeneration programme aimed at revitalising degraded urban areas. This programme includes incentives for the renovation of existing buildings and the construction of new housing.
These measures show a significant effort to address housing needs and boost the property real estate sector in Mauritius.
