Not much of a game changer... Expats will still be "exploited" in this segment by means of targeted market. Yes, freestanding etc. will now be easier to purchase, but it will just adapt to the new incoming market. You will now see older properties that was going for say ~400k all of a sudden jumping to 500k. Opens new options, but you still going to pay way over local price which financially doesn't make sense. Still better of renting directly from owners. Agents are going to be smiling all the way with change.
Approach with caution, the $500k threshold today can be a $375k threshold further down the line, leaving those that buy early in negative equity. It happened with the pds res irs schemes, they lowered the threshold from 500k to 375k and many were left unable to re-sell at break even. Also, this scheme is terrible for locals already struggling to buy a home.
Hello,so do I understand it right,when I get a retiree stay permission and want to buy a small appartement,on the local market I have to spend at least 500.000??
Not much of a game changer...
Expats will still be "exploited" in this segment by means of targeted market.
Yes, freestanding etc. will now be easier to purchase, but it will just adapt to the new incoming market.
You will now see older properties that was going for say ~400k all of a sudden jumping to 500k.
Opens new options, but you still going to pay way over local price which financially doesn't make sense.
Still better of renting directly from owners. Agents are going to be smiling all the way with change.
Approach with caution, the $500k threshold today can be a $375k threshold further down the line, leaving those that buy early in negative equity. It happened with the pds res irs schemes, they lowered the threshold from 500k to 375k and many were left unable to re-sell at break even.
Also, this scheme is terrible for locals already struggling to buy a home.
Better bay land
l want to work in Mauritius
Hello,so do I understand it right,when I get a retiree stay permission and want to buy a small appartement,on the local market I have to spend at least 500.000??
Yes
Better to rent for 5 to 7 years, then apply for citizenship, I think. After that, you could buy whatever you want, right?