2021-04-23
View on 2020 and 2021 on West Coast
2020 was a very special year for everyone, and turned all economic sectors upside down. Real estate has also been affected by this year marked by the health crisis. Mauritius managed to escape much of this crisis, but was forced to close its borders, which naturally changed the real estate market throughout the year.
Outi de Falbaire, managing director of BARNES Mauritius, gave an interview to the Property Cloud Magazine. She explains her view on Mauritius West Coast's real estate market following 2020, and the opportunities that emerge from it.
"The year 2020 as we all know was particularly challenging for all sectors, and real estate amongst them. The west coast has been a firm favourite for the foreign buyers in the last few years with some fantastic projects that have taken shape. Some of these were already well in the making, so the impact of the island closing up was less, but of course the sales processes were delayed and a lot of the clients were unable to confirm their purchases as they could not get to Mauritius.
In spite of all this, the big developments such as the new commercial centre of SuperU and did take place and manage to be completed and opened and many residential projects were also completed.
The new Smart Cities of Cap Tamarin and Medine are both taking shape, and will both change the landscape of the west coast dramatically. Both projects are promising much more than just housing and commercial space, but a full package of new style of living in Mauritius.
West coast has always been the “little brother” to Grand Bay when it comes to foreign investment, but I think this gap is quickly closing, if it hasn’t already done it.
The area is dynamic, in future will not only offer high quality residential living, but also education on all levels, more commerce and the rest which is the region itself; beaches, sea access, dolphins, surfing, kite surf spots of international reputation, big game fishing, all outdoor activities, views of le Morne, surrounding mountains, saltpans, history of le Morne…
2021 started off with a bang and the real estate sector was very vibrant for the first two months. It is difficult today to predict what form the rest for the year will take as we don’t have visibility on the opening of the borders. One thing is for sure; once they do open, the west coast will see a “gold rush” of the foreign investors hitting its’ shores. Whilst we wait for that to happen , I would say to all local investors out there that now is the time to invest on the west coast."
