Property for sale in Port Louis

The global financial crisis has sparked off a debate over whether the impending world recession and the resultant limited availability of credit are going to impinge on the Mauritian real estate sector and consequently affect the construction industry.

Some anticipate only a slower growth in property for sale value while others believe that the risk of recession is certainly there as Mauritius does not have a diversified property market. Get more information on property for sale in Mauritius.

Views on the Port Louis real estate :

The world recession will definitely impact on the sale of IRS villas as foreign buyers diminish. Moreover, the sharp depreciation of the rand and of the pound sterling against the rupee dents the country's competitiveness in its two main markets, South Africa and England. The downside risks to property for sale growth are reflected in the fall of IRS-related stocks listed on the Port Louis Stock Exchange: the prices of Ciel Investment, Deep River Beau Champ and Médine S.E. have tumbled by a further 24% since the financial crisis unfolded on 15 September.

The opening of the property market in Port Louis to foreigners four years ago has put buyers into a feeding frenzy. Some say that the market is not really in a bubble or rather is still in the early stage of a boom, and it has yet to burst. The truth is that nobody can tell how far into a bubble the market really is, because property for sale valuations are done roughly and real estate indices are lacking.