Housing Finance in Mauritius


Mauritius has a developed housing finance sector. As the mortgage market does not yet meet the breadth of the population who might afford a mortgage, most households still finance their housing independently, with savings or non-mortgage credit.

The lowest recorded interest rate on a mortgage in Mauritius is eight percent, as of September 2016, and requires at least a 20 percent down payment. The cheapest newly built house by a developer recorded by CAHF is US$ 32 000, which is for a 120 square metre unit. Cement prices are lower than the continental average, at US$ 6.60 for a 50-kilogram bag.

Demand for affordable housing remains, both for rental and purchase. Housing microfinance will play an important role in increasing the supply of housing for the poorest, and efforts to increase access should be undertaken. Banks tend to rely on deposits for funding, supported by the high rate of financial inclusion. The Mauritius Housing Company (MHC) is the leading mortgage lender to low and middle income households, with home ownership rates at 89 percent. With a good macroeconomic environment, sound policy, better data and increased access to affordable credit, an enabled housing market can increasingly provide housing that the average household in Mauritius can afford.

Find out more information on the housing finance sector of Mauritius, including key stakeholders, important policies and housing affordability:

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2016 edition, which has up-to-date profiles for 51 African countries.

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