What's the trend in IRS/RES properties?

Hi HKT,

There are many IRS/RES projects under construction and some others planned but of course, this real estate scheme will not go on forever for the simple reason that Mauritius is a tiny island, only 70 by 50 km.

Upon reaching this stage, RES projects which have been traditionally the construction of individual villas mostly along coastal regions will be remodeled into luxury apartment units to save space.

Yes, there are houses and apartments less expensive than IRS/RES units even if they almost of the same type and design quality. However, this is because foreigners cannot buy properties in Mauritius other than those labelled under IRS or RES schemes and apartments under some conditions like the minimum monthly income, etc.
And based on legal guidelines regarding the implementation of IRS/RES projects, the minimum cost for an IRS is set at $500,000 and for an RES a little less thus creating this sense of inequality in the price tag.

As for resale values and insurance policies, I would suggest you contact a real estate company involved in IRS/REs projects for some precise information.

Thanks.  I am aware of the 500K needed for the property, I was hoping to get a feel for the market as to whether there will be an oversupply at some point, or if the gov't will end the scheme thus ensuring there will not be overbuilding.

Having been in real estate in a prior phase, I am well aware that if speaking to an agent the picture will always be rosy, as it's their livelihood to sell property.

Speaking of agents, is there a specific training course and exam needed to become an agent, or can someone simply hang their shingle and call themselves an agent?  Where I currently reside, anyone can be an agent, and where I came from one had to sit for an exam and pass to become a licensed agent.

No,still now thr is no accademic course for Real Estate in Mauritius may be after.