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Mauritius Real Estate Market View

5/7/2020

Elaine Wilson 
Divisional Director Research 
Cushman & Wakefield Broll

Economy Overview 

The Mauritian Government imposed a 14-day nationwide lockdown on 20 March, which has subsequently been extended to 4 May, with only essential services being operational during this period. During the initial lockdown, the Government declared martial law, stating that no one could leave their residence without a letter from the Government. For over a week everything was shut down, not even supermarkets were open for trade. As a country heavily reliant on tourism, import and export services, the lockdown is sure to come at a heavy cost, with a negative effect on the Mauritian economy. 
 

Retail Overview 

With only essential services allowed to trade, in an effort to curb the spread of the virus, the Government imposed strict access for grocery shopping, giving access to households for 30 minutes twice a week, alphabetically. Consumers with family names A-F can shop on Monday and Thursday, G-N on Tuesday and Friday and O-Z on Wednesdays and Saturdays. Only one person per family is allowed to shop and every customer has to wear a face mask. Product rationing has also been implemented to stop panic buying. 

Industrial Overview 

Due to the complete lockdown, the possible loss of employment is unfortunately imminent as well as the possible reduction of income, affecting all markets in the economy. Although activity is expected to return to normal once the spread of the virus has been contained, it is expected to change the way in which individuals live, work and play. 

Office Overview 

Many businesses are adopting the work-from-home policy in order to guarantee the progression of operations. However, a lot of businesses and services providers are experiencing a decrease in turnover which is likely to have a negative on the market. 

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