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All you need to know about buying a resale property in Mauritius

Updated: Aug 31, 2023


Sea view villa for sale in Mauritius

After decoding with you the benefits and risks of buying a property in a future state of completion (VEFA) in Mauritius, today I'd like to talk to you about purchasing a resale property. The Mauritian real estate sector is currently very active, allowing you to choose between resale and new-build properties according to your needs and requirements.


Mauritius is a prime location for investors, thanks to its thriving economy and booming real estate market. Whether you're looking to buy a primary residence, a vacation property or an investment property, the option of buying on resale can be attractive.


For some people, the resale option to buy an apartment, a penthouse, a duplex or a villa in Mauritius can offer greater security than buying off-plan, thanks in particular to the possibility of inspecting and valuing the property prior to purchase.


This informative and formal guide will take you through the essential stages of buying on resale in Mauritius.


1. Why should you choose a resale property?


Property preview and evaluation


If the option of buying a property in a VEFA project doesn't allow you to plan, and you need to visualize what you're buying, a resale property could be a more reassuring alternative than buying off-plan. This method of acquisition allows you to visit and evaluate the property, as well as its location and surroundings. For many people, the fact of visiting the property, touching it and feeling its atmosphere, provides additional reassurance for planning and finalizing the purchase.


Flexibility in price negotiation


Resale often allows greater flexibility in price negotiation. By having access to detailed information about the property for sale and its condition, you can negotiate a price that reflects its true value. This can save you money and give you a better return on your investment.


However, it should be noted that the real estate market in Mauritius is very dynamic, so if you make an offer, make sure that it is in line with the current market and that the proposed price is justified, at the risk of being turned down.


Avoiding the risks of buying off-plan


As I explained in my previous blog: Purchase under VEFA in Mauritius: deciphering the benefits and risks, buying a property off-plan can be subject to construction delays or quality problems if the developer has not been correctly chosen. By buying an existing property, you can be sure of what you're buying, and your property will be available quickly. A transaction for a resale property normally takes between 3 and 4 months, the time required for administrative and legal formalities.


A better assessment of the neighbourhood and surrounding amenities


A Property for sale in Mauritius in the resale market also allows you to better assess the neighbourhood and surrounding amenities, which can be crucial to your future quality of life. By visiting the property and exploring the area, you can get a better idea of what your daily life or your holidays will be like.


2. Working with a real estate agency in Mauritius


Client looking at properties for sale on sandra colas real estate website

Finding the ideal property


A real estate agency in Mauritius can make the process easier. A real estate agent in Mauritius has in-depth knowledge of the market open to non-citizens and can help you find the ideal property, whether it's a villa, a house, a penthouse or an apartment for sale in Mauritius.


Understanding market trends


The estate agent in Mauritius can help you understand market trends and prices in different areas, and guide you in selecting the best location for your needs and budget. This market knowledge can be priceless in making an educated investment.


Getting to know the legal aspects


Buying property in Mauritius is based on the French Code Napoléon. Understanding these laws is essential to avoid complications. Your real estate agent will answer those kinds of questions :


  • What are the costs associated with the property transaction (agency fees, transfer fees and notary fees)?

  • What are the different stages of the sale?

  • How can you buy in Mauritius? In your private capacity or through a legal structure?

  • Can I rent out my property, and if so, what regulations and taxation apply?


It is also advisable to consult a notary for legal advice, or a tax lawyer in your own country.


Your estate agent in Mauritius will also guide you through all the stages of the sale, from signing the reservation to signing the deed of sale to handing over the keys.

In summary, understanding the legal aspects of buying a resale property is essential to ensuring a legal and secure transaction. You'll be assured that your purchase complies with local laws and that you're protected throughout the process.


Negotiating the price


Negotiation is a key stage in the buying and selling process. Working with an estate agent can help you negotiate the best price. The agent can provide you with information on market prices and help you determine a competitive offer. Negotiation is an art that requires an understanding of the market and a clear strategy. Your agent can help you understand when and how to negotiate, and what are reasonable price expectations.


3. Use the inspection to your advantage


Inspection can also give you leverage in negotiations.


Understand potential repair costs


By visiting the house for sale, you'll be able to identify whether or not repairs are needed. Check whether the property is still covered by the builder's ten-year structural warranty. If there are repairs, you can estimate the associated costs and propose that the owner take care of them or reduce the price according to the potential repair or renovation costs. This allows you to plan ahead and avoid financial surprises.


The benefits of resale


As mentioned previously, resale offers many advantages, such as the opportunity to view the property before purchase, flexibility in price negotiation, and avoidance of the risks associated with buying off-plan. These advantages can make resale an attractive option for many buyers.


4. The disadvantages of resale


Acquiring a resale property can also present challenges, such as the need for renovations or upgrades, and the possibility that the property may have hidden problems.


Evaluate renovation or repair costs


It's also important to consider the potential costs of renovation or repair, and incorporate them into your budget and offer. By understanding these costs, you can plan ahead and avoid financial surprises. Ask for quotes if necessary.


Make an informed decision


Whether you're looking for a property to live in or to invest in, your search criteria won't be the same. By balancing the pros and cons of resale, you can make an informed decision that reflects your needs and objectives.


5. A few tips


  • If you're looking for an apartment for sale in Mauritius, be sure to obtain the minutes of the last 3 general assemblies to see if there are any works planned in the condominium that could result in unplanned expenses.

  • If you are looking at a house for sale in Mauritius, you have to check duplexes for sale in Mauritius on your request. Note as well they are semi-detached.

  • If you're looking for a beachfront villa for sale in Mauritius, you should be aware that these properties are very rare, as most beachfront villas are built on leasehold land and are only available to Mauritians. However, some projects offer apartments and villas with sea views.

  • Please note that in the event of resale, notary fees are around 1.15% of the property price and are payable by the buyer only, transfer fees are 5% and are payable by both parties, and agency fees are 2.3% (2%+ VAT) and are payable by both parties.

  • Properties are often sold furnished in Mauritius, and the price of furniture can be settled separately by drawing up a private contract between seller and buyer. Taxes will not apply to this amount.


6. Conclusion


Buying a resale property in Mauritius is an attractive option for many investors. It offers a unique buying opportunity, with specific advantages and disadvantages that you'll need to balance. By understanding these factors and evaluating them carefully, you can make an enlightened choice about your future resale property. Check out my Resales section to see what I have to offer if you are keen. And for those of you who prefer to buy a new property, Mauritius offers many new opportunities as well. Visit the New Projects section of my website to discover them.


There are new and resale properties to suit all requirements and needs, so by following these steps and being well-supported, you'll have everything you need to make your purchase a success.


Please do not hesitate to contact me if you would like personalized support for a successful purchase at scolas@sandracolas.com or by WhatsApp: +230 5474 0302

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