Property Acquisition Trends in Mauritius vs. Global Millennial Shift
Property Acquisition Trends in Mauritius

Luxury Outlook Report

Millennial Tastes Globally and Property Acquisition Trends in Mauritius

The global real estate landscape is evolving as Millennials surpass Baby Boomers as the dominant homebuyers, reshaping luxury property markets in the U.S and Europe. 

However, property acquisition trends in Mauritius remain largely influenced by Baby Boomers, with French and South African buyers leading the market.

This blog explores the shifting dynamics in property investment, highlighting the preferences of Millennial buyers worldwide and the unique factors influencing real estate trends in Mauritius.

The Global Shift in Homebuyers

For the first time, a new generation has surpassed Baby Boomers as the largest group of homebuyers, bringing with them unique property preferences.

Based on research and insights from real estate experts within the Sotheby’s International Realty network, the Luxury Outlook Report highlights this demographic shift in property buyers across the US and Europe.

However, the property acquisition trends in Mauritius diverge, as Baby Boomers remain dominant in real estate acquisitions.

Millennials Reshaping the Global Luxury Property Market

Globally, Millennials are making a significant impact on the high-end property market.

In the U.S, Millennials overtake Baby Boomers as the largest group of homebuyers in 2024, accounting for 38% of purchases, up from 28% in 2023 (National Association of Realtors, NAR). This trend has been in motion for years. The Washington Post reported in 2022 that Millennials’ impact on the housing market in the US was being felt especially at the high end.

What Do Millennials Look For in a Property?

One defining characteristic of Millennial buyers is their reliance on digital platforms and social media during their property search. “Social media is everything “, says Daniel Heider, global real estate advisor at TTR Sotheby’s International Realty in Washington, D.C. “The smartphone is to our generation what television was to our parents and radio was to our grandparents. Attention is everything, and today, most attention is on social media.”

At least 50% of Heider’s clients are Millennials – many are upgrading from their first home. Their key demands include:

  • Turnkey properties: Modern, move-in-ready homes requiring no additional work.
  • Luxury amenities: Wellness spaces, cold plunges, steam rooms, pickleball courts, and infrared saunas.
  • Smart home technology: Integrated automation and energy-efficient features.

Europe’s Millennial Buyers and Digital Influence

The influence of millennials is equally strong in Europe. In Italy, Diletta Giorgolo Spinola, Head of Residential at Italy Sotheby’s International Realty, emphasizes the growing role of social media in property marketing. “A decade ago, we made long videos to showcase properties. Now, an Instagram Reel of just a few seconds is enough to attract Hollywood stars directly,” she explains.

Property Acquisition Trends in Mauritius: A Different Reality

Unlike the global Millennial trend, property acquisition trends in Mauritius continue to be dominated by Baby Boomers. The island remains a prime destination for relocation, holiday homes, and luxury retirement. According to insights from the Economic Development Board of Mauritius (EDB), buyers under 50 accounted for only 39% of real estate acquisitions in 2024. French and South African buyers, the island’s most significant market segments, are typically aged 50+ and favour the North and West coasts.

The prevailing perception of Mauritius as a holiday home destination naturally attracts an older demographic. Additionally, government incentives such as the Retirement Permit make it easier for retirees to settle in Mauritius, further reinforcing this trend.

Emerging Opportunities for Younger Buyers

However, new initiatives are beginning to create opportunities for younger demographics. The Premium Visa, a one-year visa designed for digital nomads and remote workers, is gradually shifting perceptions.

This initiative allows professionals to work remotely from Mauritius, potentially paving the way for younger property buyers seeking investment or long-term residence options.

Live in Mauritius

While Millennials are reshaping luxury property markets in the U.S. and Europe, Mauritius remains a stronghold for Baby Boomer investors. The country’s appeal as a second-home destination and retiree-friendly policies continue to attract older buyers.

However, with evolving residency programs and growing digital nomad interest, the landscape of property acquisition trends in Mauritius may soon welcome a younger generation of buyers.

Want to know more about life in Mauritius ? Contact our team at info@sir.mu or visit our website, www.sir.mu 

Published on February 28, 2025 by Laetitia Melidor

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