In Mauritius, real estate is one of the safest investments to build a lasting legacy and to protect its financial security. Today, this country allows Mauritians and foreigners to acquire IRS, RES and PDS properties and has several credit facilities to finance a property purchase project. These foreign and Mauritian buyers are turning to the banking sector for a loan or a mortgage. The types of residential property purchased under favorable conditions by a foreign national or a Mauritian may be a primary residence, second residence, retirement home, villa or apartment.

Foreign nationals and Mauritian citizens who do not have the necessary budget for the acquisition of a real estate program, can take out a mortgage loan from banks and credit institutions. Credit facilities are practical and flexible solutions for some acquirers, but it is essential that they seek professional advice.

Mauritius has a very developed financial system. Many Mauritian and international banks and financial institutions having a branch on the Mauritian territory, have various financial solutions suitable to the needs of all foreigners and Mauritians to finance different types of projects. In order to ensure that a Mauritian citizen or a foreigner residing on the island could benefit from a mortgage in Mauritius, he must be able to prove his salary paid in Mauritian Rupees. He must also compile a full and accurate record proving in particular his ability to refund the loan.

The criteria for a mortgage loan agreement vary from country to country and from bank to bank. In Mauritius, all mortgage loans must be accompanied by a death or disability insurance and needs to go through a file review of documents. Interest rates on loans depend on the proposals of financial institutions and banks and may be fixed or variable throughout the life of the loan. The borrower's age is also a decisive step in the maximum length of a mortgage loan in Mauritius. A mortgage loan is generally refundable over a maximum period of 25 to 30 years depending on the banks.

Foreigners are increasingly attracted by the real estate purchase in Mauritius. They are getting into real estate investment through their personal savings or a bank loan. Foreign nationals get easier access to mortgage in Mauritius than in their country of origin, for the reason that banks can be able to mortgage on IRS, RES and PDS real estate projects of these latter on the Mauritian soil. These assets are sold off-plan (VEFA), which allows the borrower to benefit from a completion bank guarantee. For a foreign borrower, the maximum repayment term of a mortgage loan is 15 years maximum and is calculated according to his age.

Credit purchase remains a key solution for Mauritians and foreign investors in Mauritius. Whether it is to buy a land or to purchase your dream house, banks and financial institutions have the right mortgage loan for each of your projects and help you achieve your wishes.