Will there be a house price crash in Mauritius?

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Looking at the house prices on L'Express Properties, it seems that the asking prices are extortionate and could lead to the property market seeing a crash similar to that it the UK and America.

I'm not sure whether the property prices advertised are more targetted to foreigners or mauritians living abroad but above Rs5M (5,000,000) for a decent house of 3 bedrooms, a living room, toilet and bathroom seems quite high, doesn't it?

The house prices are not going down and considering an average salary of Rs10,000 for a mauritian, it might be hard to afford a mortgage.

So do you think the house prices are fair (or am I looking in the wrong places for house prices) or is a property crash imminent?

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Sagitarius Level 2

Building a 3 bedroom , living room , toilet and bathroom house in a suburb of Curepipe on a 300 square meters plot of land costs Rs1.5 - Rs2 million . A similar sized house designed by an inspired architect on a 900-1000 square meters plot in a well-to-do neighborhood can be worth Rs5 million .

The houses(?) targeted at foreigners can cost over Rs50 million . At Anahita some are worth Rs80 million . You'll find some Bollywood actors or English Premier League players living there (not permaently), but there are also Mauritians .

The prices can be be said to fair , considering the very high importance of house ownership in every Mauritian mind .

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Sagitarius Level 2

The prices can be said to be fair.....

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