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Mauritius: 52 high range property sold to foreign citizens during the first three months of the year 2014

According to the last digits of the Board of Investment (BOI) for the first three months of 2014 high range real estate residential projects intended for foreign citizens in Mauritius of type RES/IRS * have found buyers in the sales of 52  villas.
On the same calendar period last year, 60 sales had been completed.
A slight decline that does not worry professionals of the sector since on the first five months of the year 2014, the market seems to attract new buyers.
The Board of Investment (BOI) is planning of his next annual sales expected to reach more or less those recorded in 2013 with 119 property type RES / IRS purchased, as indicated by the newspaper L'Express of Mauritius.
* The Real Estate Scheme (RES) put in place at the end of the year 2007 by the Mauritian Government allows foreign owners to buy luxury real estate in Mauritius.
Acquisition of real estate premium under the aegis of the RES does not give automatic right to its owner to reside in Mauritius except if the value of the property exceeds 500,000 dollars (376.943 euros).
 In this case, operative of residence applies according to the same clauses granted during the purchase of villas under the vote IRS (Integrated Resort Scheme) regime in 2002 which in turn permits the acquisition for the holder of the property and his family of a resident status in Mauritius.

Fabrice François

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