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It’s difficult to see what Mauritius has created for herself without wondering the possibility of what Nigeria could have been. Just look at this three level apartment building starting from $2m each with the swimming pool. The land used to be a sugar plantation but now an indescribable beauty.
Mauritius used to be one of the biggest exporter of sugar cane until there was a price crash. Now they sell real estates up to $40m. Can you just imagine this very small island who heavily depends on imported food but is able to attract annual tourism equivalent to its population.
With a population of 1.2m and annual visitors of 1.1m how can they afford to buy real estate up to $10m let alone $40m. Well that is what tourism does to a country. 51% of the properties are bought by French investors, 35% bought by other investors including Africans, Europeans, Asians. Only 15% are bought by locals. With no capital gains tax, why not.
It’s obviously not about the return on investment for Mauritius but their properties have maintained their value for a long time. Like Dubai, property prices of $500,000 and above come with residency.
Waking up to blue beaches, green water and amazing landscaping, I can only say one day, mee too.
#Mauritius
#beaches
#properties
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