There are 11 IRS, 85 RES and 52 PDS developments on the island.
52% of buyers come from France, South Africa and Great Britain. Other foreign buyers are mostly from Belgium, Madagascar, Germany, China, Italy and Switzerland.
Analysis shows that the luxury residential properties in the north of the country are more popular with French citizens while South Africans tend to buy properties on the west coast.
The real estate market, unlike others, is influenced by intrinsically local factors. As well as the structural and architectural features of a building, easy access to essential amenities and equipment, the availability of transport and other public services play an important part in the attractiveness of a particular place. They actually determine the price of real estate products.
IRS property prices range from MUR 17m to MUR 100m. The highest price registered for an IRS project is MUR 250m and MUR 120m for an RES project.
About 76% of buyers bought their properties in their own name and 24% used the mediation of a company. Approximately 23% of those who registered their property through the mediation of a company were French citizens while 10% of those who bought their property through trusts were South Africans.
IRS, RES and PDS projects attract substantial foreign currency inflows into various sectors of the national economy while producing significant spin-offs. They have a very positive and immediate impact on the construction sector as well as the banking and financial sectors, including asset management, private equity funds and the legal sector.