As Mauritius continues to attract a growing number of foreigners to its shores, investors have been showing a sustained interest in the luxury residential sector. The uptrend in high-end residential property sales remained unabated in 2007, with a continual influx of non-citizens acquiring villas and apartments within Integrated Resort Scheme (IRS) developments approved by the BOI. The IRS is one of the two existing schemes under which non-nationals are allowed to purchase residential property in Mauritius. The IRS caters for the upper end of the market by setting a minimum price of USD 500,000 for a residential property. Through the IRS, international buyers can become Mauritian residents as soon as they acquire a luxury property on the island.
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