Honorary Consulate of Mauritius in Bulgaria organizes “Mauritius Living, Investment and Property Show”
On October 4th, the Honorary Consulate of the Republic of Mauritius and Unique Estates organized a joint press conference, where the exotic island of Mauritius was presented not only as a luxury vacation destination, but also as a fast-growing hot lreal estate investments, business hub, and high-class living environment . The event kicked off the debut edition of the Mauritius Property Show with 3 day of showcase open to the public, and ended with a special welcoming reception with diplomats, business representatives, partners and friends. The business event took all guests on an exciting journey to the paradise island of Mauritius, which combines comfort and luxury, modernity and cultural traditions.
Hristo Iliev, honorary consul of the Republic of Mauritius in Bulgaria and and founder and CEO of AG Capital, pointed out that "Mauritius is among the most dynamically developing countries in Africa and against the backdrop of uncertainty in the global economy, investors consider the island nation an attractive investment destination and a kind of "portal" to continental Africa. For the past 11 years, during which I have been Honorary Consul, I have been trying to promote Mauritius as an attractive destination for investment, tourism and economic exchange. We are happy that during the last active season the island was visited by more than 5,000 of our compatriots."
Vesela Ilieva, managing partner of Unique Estates (part of AG Capital), announced the beginning of a new international partnership between the leading company in the high segment of real estate in Bulgaria and the leading boutique agency Park Lane Properties from Mauritius, a member of the largest international network of leading real estate companies in the world Leading Real Estate Companies of the World, in which over 50,000 remarkable homes are presented, and the luxury face of the network - Luxury Portfolio International, through which Unique Estates cooperates with Bulgarian buyers for the purchase of property in over 70 countries.
„“Mauritius is a classic example of a successful tourist destination that has managed to grow into a premium real estate market. In addition to being indicative of the economic potential of the business, this partnership will enable Bulgarian clients to receive better assistance when buying a property in Mauritius", commented Vesela Ilieva.
Buyers from a total of 42 nationalities invested a total of EUR 413 million in real estate in the island nation of Mauritius in 2023 alone. France accounted for the most at 32%, followed by South Africa at 21%. The total share of buyers from Belgium, India, Switzerland and Eastern Europe equals 24% of all those who acquired real estate. Customers from Eastern Europe - Romania, Bulgaria, the Czech Republic, Poland, Russia, as well as Ukraine, Slovakia and Austria - are becoming more and more active. For 2023 and 2024, the share of sales to foreigners grows by 16%. For the same period, the value of real estate sold to foreign citizens increased by 15%. Nearly 70% of the properties sold are in newly built buildings. More than half – 52% of the transactions are for apartments, and another 26% for villas and townhouses.
Mauritius is an extremely attractive destination for foreign investors, especially from Europe. They choose the island either to diversify their property investment portfolio in a safe, regulated and stable property market, or to enjoy the exceptional lifestyle that Mauritius has to offer,", commented Philippe de Beer, CEO and Co-Founder of company Park Lane Properties.
Among the main investment advantages that the island offers is favorable taxation - a low tax jurisdiction with no profit tax, no wealth tax, no inheritance tax and free money transfers. Mauritius is entering the stage of a regulated and stable real estate market, which provides investors with reliable protection of their real estate investments. Mauritius' real estate market also offers attractive returns - competitive rental yields driven by growing demand from tourists and relocators. Investors are granted permanent residency with a minimum investment of USD 375,000.
Real estate acquisition costs vary between 5.6% and 8.45%, including registration fees (5%), notary fees (0.6%-1.15%) and brokerage fees (2.3%). Mauritius ranks first in Africa for Ease of Doing Business, implementing a sustainable legal framework and incentives for foreign investors.The island is also one of the safest countries in the region, with low crime rates, making it a suitable location for families as well. The high level of healthcare and opportunities for international education are among the main advantages of the country.
In 2023, the Mercer Quality of Life Index recognized Mauritius as the country with the highest quality, based on 39 factors, such as socio-cultural environment, healthcare, quality of education, infrastructure and housing. Mauritius has received the World's Leading Island Destination award, World's Best Beach award and World's Leading Golf Destination awards three times.
The Mauritius Property Cocktail under the patronage of the Honorary Consulate of the Republic of Mauritius in Bulgaria with Special partners French-Bulgarian Chamber of Commerce and Industry, Bulgarian Golf Association, the travel agency for exotic holidays and excursions Luxutour and the leading importer of premium French and Italian wines and champagne BNK Wines.
