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Mauritius Expects Revival Of Property Market In 2010,
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, July 21, 2009
Despite a slow down in the property market in Mauritius, due to the global economic
crisis, President of the Mauritian Estate Agents Association Mahen Poligadoo remains
confident that encouraging signs from Europe and the US point to a revival of
the sector from 2010.
Although the Integrated Resort Schemes (IRS) and the Real Estate Schemes (RES)
offered in Mauritius are currently not selling as well as before, demand remains
strong, and land in Mauritius will continue to retain its value for many years
to come, Poligadoo maintains.
Confident that Mauritius is not entering a crisis period, Poligadoo has rejected
the idea of a government rescue plan for the industry, emphasising that non-residents
already benefit from substantial fiscal advantages, including low income tax
and no capital gains or inheritance tax, once granted resident status.
According to Poligadoo, in terms of marketing, estate agents in Mauritius are
now targeting four key markets, namely South Africa, the Réunion Island,
Europe and Russia.
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