Published on and written by Cyril Jarnias
Flic-en-Flac has, in a few years, gone from a simple seaside village to one of the most closely watched real estate markets in Mauritius. Between the explosion of short-term rentals, massive arrival of expats, new tax rules, and continuous price increases, one question haunts investors: how much does an apartment in Flic-en-Flac actually yield in 2026, and with what level of risk?
This article analyzes rental yield in a Mauritian seaside resort, using recent data on rents, purchase prices, and Airbnb performance. It distinguishes long-term rentals from seasonal rentals and takes into account tax changes planned for 2026.
A booming market, driven by tourism and expats
The starting point is the overall market dynamics. Flic-en-Flac is now considered one of the most active areas on Mauritius’s west coast. Infrastructure is modern, access to beaches and services is easy, and demand for upscale accommodations is growing rapidly.
Up to 733 short-term rentals like Airbnb are recorded in the area, nearly 95% of which are entire homes.
The stock of tourist rentals has soared by 40% in one year, but despite this explosion in supply, revenues and nightly rates have continued to rise. This discrepancy shows that traveler demand not only keeps pace but exceeds the arrival of new properties on the market.
Flic-en-Flac, number 1 on the Mauritian Airbnb market
In the ranking of Airbnb markets in Mauritius, Flic-en-Flac tops the list by size of its inventory, with 711 active listings. However, it is not the city with the highest average revenues: the top spot for monthly revenues goes to Grand River South East, with over 4,000 dollars per month and an average nightly rate flirting with 874 dollars, unmatched on the island.
The average nightly rate in Flic-en-Flac is around 119 dollars.
This profile makes it an “intermediate” market: neither ultra-luxurious nor saturated, but dynamic enough to allow for yield optimization strategies.
How much does an apartment yield in long-term rental in Flic-en-Flac?
To assess rental yield, you need to compare the potential rent with the purchase price. Several datasets allow building a fairly accurate picture of the residential market in Flic-en-Flac.
Monthly rent levels: 1, 2, or 3 bedrooms
Long-term rents in the city show a certain consistency across sources, once variations in neighborhood, quality, and size are taken into account. To keep a usable order of magnitude, we can reason based on local averages in Mauritian rupees and dollars.
The table below summarizes the average rents observed by property type in Flic-en-Flac (long-term):
| Type / Location | Average Monthly Rent (Rs) | Average Monthly Rent (USD, approximate) |
|---|---|---|
| 1 bedroom – center | ≈ 22,000 – 30,000 | ≈ 400 – 585 |
| 1 bedroom – outskirts | ≈ 20,500 – 25,000 | ≈ 390 – 500 |
| 2 bedrooms – Flic-en-Flac average | ≈ 35,000 | ≈ 700 (depending on exchange rate and source) |
| 3 bedrooms – center | ≈ 42,000 – 55,000 | ≈ 900 – 1,000 |
| 3 bedrooms – outskirts | ≈ 29,500 – 40,000 | ≈ 600 – 860 |
| Penthouse | ≈ 57,500 | ≈ 1,100 – 1,200 |
| Studio | ≈ 30,000 | ≈ 550 – 600 |
In parallel, one estimate indicates that a “standard” 83 m² apartment trades around 6.5 million rupees and rents for about 35,000 rupees per month, or just over 700 dollars according to the implicit exchange rate used by various sources.
Purchase prices: 2 and 3-room units in Flic-en-Flac
A comparative dataset for Mauritius, updated to mid-2025, provides purchase prices and typical rents by city and property type. For Flic-en-Flac, it notably includes:
| City / Type | Purchase Price (USD) | Monthly Rent (USD) | Stated Gross Yield |
|---|---|---|---|
| Flic-en-Flac – 2 br. | 276,000 | 885 | 3.85% |
| Flic-en-Flac – 3 br. | 442,500 | 1,095 | 2.97% |
These are gross yields slightly above the Mauritian national average, which hovers around 3.07%, but below what is observed in some very tight inland areas like Quatre Bornes (where a central 3-room unit can exceed 6% gross yield).
Calculating gross yield: concrete examples
Take the case of this 2-bedroom apartment, purchased for 276,000 dollars and rented for 885 dollars per month long-term.
Over a full year, the owner collects 885 dollars per month in rent, i.e., 885 × 12 = 10,620 dollars in annual rent. The gross yield is calculated by dividing this annual rent by the purchase price of the property, i.e., 10,620 / 276,000 ≈ 3.85%.
For a 3-bedroom unit at 442,500 dollars with rent of 1,095 dollars, the calculation gives 1,095 × 12 = 13,140 dollars in annual rent. 13,140 / 442,500 ≈ 2.97% gross yield.
Classic residential rental yields in long-term rentals in Flic-en-Flac are generally estimated between 3 and 4%.
From theory to practice: what becomes of net yield
National data remind us that between gross yield and net yield, a gap of about 1.5 to 2 percentage points should be expected to cover:
– condominium fees and routine maintenance,
– landlord insurance,
– vacancy between tenants,
– potential agency fees,
– and especially taxes on rental income.
In a context where the national gross average is around 3 to 3.5%, the net yield felt by the owner often ranges between 1.5% and 2.5%, sometimes a bit more in dynamic neighborhoods.
In Flic-en-Flac, a 2-bedroom around 3.85% gross could therefore, after all deductions, deliver a net yield closer to 2 to 2.3%, sometimes 2.5% if management is tight and vacancy very low.
Airbnb and seasonal rentals: the real yield driver in Flic-en-Flac
While long-term yields remain relatively modest, the picture changes when you look at the short-term rental market, dominated by Airbnb and similar platforms. There, Flic-en-Flac clearly stands out.
Key figures for the Airbnb market in Flic-en-Flac
Data for 2026 (period June 2025 – May 2026) give the following orders of magnitude for an “average” listing:
| Indicator | Average Value in Flic-en-Flac |
|---|---|
| Average annual Airbnb revenue | $11,256 |
| Average monthly income (median) | $1,188 |
| Average monthly income (other source) | $938 |
| ADR (average price per night) | $119 |
| Average occupancy rate | 39.9% |
| RevPAR (revenue per available room) | $45 |
An annual revenue of about $11,256 corresponds to the “typical apartment,” neither particularly high-performing nor disastrous. But the dispersion is wide between the best and worst.
The performance segments are quite telling:
| Airbnb Performance Segment | Estimated Monthly Income | Average Price per Night (ADR) | Approximate Occupancy Rate |
|---|---|---|---|
| Top 10% (best-in-class) | ≥ $3,181 | ≥ $203 (or $212 depending on source) | ≥ 85–87% |
| Top 25% | ≥ $1,989–$2,043 | ≥ $122–$130 | ≥ 71–73% |
| Median | ≈ $1,141–$1,188 | ≈ $85–$91 | ≈ 44–45% |
| Bottom 25% | ≈ $576–$578 | ≈ $60–$64 | ≈ 19–21% |
The difference in RevPAR between the top 10% and the bottom 25% reaches about 66 dollars, showing that property quality, pricing positioning, and management are decisive for profitability.
High, low, and shoulder seasons: revenues that vary from nearly single to double
Seasonality is pronounced in Flic-en-Flac, with demand peaks and troughs that must be integrated into yield projections.
Over the studied year, the seasonal structure looks like this:
| Period | Average Monthly Revenue | Average Occupancy Rate | Average Nightly Rate |
|---|---|---|---|
| Peak season | $1,827–$1,863 | 52–53.5% | $119–$124 |
| Shoulder season | $1,555–$1,625 | 46–47.8% | ≈ $114–$119 |
| Low season | $1,185–$1,209 | 38–39% | ≈ $113–$116 |
The best period generally spans November, January, and December, with a record month reaching about $1,915 in revenue, 57.4% occupancy, and an ADR of $130. June is typically the weakest month, around $1,015, 33.6% occupancy, and an ADR dropping to around $112.
For an owner renting year-round, seasonality smoothes out annual results, but it must be anticipated for cash flow, especially to finance the mortgage during low months.
What gross yield can a seasonal investor expect?
Let’s return to our 2-bedroom at $276,000. Assuming it is operated as a short-term rental on Airbnb with “average” performance ($11,256 annual revenue), the gross yield becomes:
11,256 / 276,000 ≈ 4.08%.
That’s already a notch above the 3.85% of the same property rented annually. This differential widens if the apartment falls into the category of “well-managed” properties (e.g., top 25% of performance).
Imagine this 2-bedroom managed to generate $2,043 per month, or $24,516 per year. The gross yield then jumps to:
24,516 / 276,000 ≈ 8.88%.
This matches the ranges announced for very high-performing short-term properties in Flic-en-Flac (7 to 9% annual return), or even beyond for some ultra-optimized products.
Gross yield exceeds 8% for a 3-bedroom property at $442,500 with rental income of $36,000 per year.
Premium properties with hotel management: 6 to 8% net advertised
Several high-end programs, managed by renowned hotel brands like Maradiva Resort or Sands Hotel, advertise even higher net returns, but on much larger entry tickets.
Some penthouses or luxury apartments in Flic-en-Flac and the surrounding area (sometimes around Tamarin) show prices above one million euros and come with:
– full hotel management,
– 24/7 concierge service,
– organized activities and excursions,
– permanent security services,
– access to facilities like spa, kids’ club, water sports, etc.
For these products, advertised returns often range between 4% and 8% net:
| Type of Property / Management | Advertised Yield | Features |
|---|---|---|
| High-end penthouse | ≈ 8% (short stay) | Profitability described as “rare” |
| Apartment managed by Maradiva Resort | ≈ 6% net/year | Up to 120 days of owner use |
| Property managed by Sands Hotel | ≈ 7% net/year | Guaranteed rental management |
| Penthouse with hotel management | 4–6% net/year | Targeted occupancy rate 75–80% |
These figures, well above the 3–4% gross of standard housing, are explained by a very high-end positioning aimed at an international clientele, high occupancy rates (75–80% for some penthouses), and nightly rates well above the local average.
A yield to put in perspective: cost of living, taxes, and new 2026 levies
A gross yield does not tell the whole story, far from it. To understand what an apartment in Flic-en-Flac actually earns, you need to factor in three dimensions: the cost of living and expenses, taxes on rents, and the announced changes in transfer duties from 2026 for non-residents.
Expenses and cost of living on site
Cost of living data shows that Flic-en-Flac remains slightly cheaper than the global median (12 to 16% below for most household types), but housing weighs very heavily on the local budget: it represents about 131% of the average salary.
For an investor living on site and repaying a loan, these benchmarks are useful:
– a single person spends an average of $1,178 per month, including housing,
– excluding rent, the monthly cost is around $541,
– a couple should budget about $1,772 with housing, $1,113 without housing,
– a family of three approaches $2,367 per month including rent.
Non-negotiable expenses related to an 85 m² apartment remain moderate, however:
– electricity, water, garbage, and air conditioning run around $45 to $63 per month depending on source,
– an internet connection costs on average $29 to $41.
Despite additional expenses on top of taxes, their weight is relatively low: they are measured against a median Airbnb income of $1,188/month or a long-term rent of $800 to $1,000/month, which limits their impact on overall net yield.
Taxation of rental income in Mauritius
All income from Mauritian sources, including rents, is taxable in Mauritius, for both residents and non-residents (the latter are only taxed on their Mauritian income).
Since July 2025, personal income tax follows a simplified scale:
– 0% on the first 500,000 rupees of annual taxable income,
– 10% on the next bracket from 500,001 to 1,000,000 rupees,
– 20% above 1,000,000 rupees.
The former intermediate rates (2%, 4%, 6%, etc.) have disappeared, which simplifies reading but may lead to heavier taxation for some profiles. A complementary mechanism (“Fair-Share Contribution”) of 15% applies additionally on the portion of income exceeding 12 million rupees, but it mainly concerns very high incomes.
For non-residents receiving rents, the rule is simpler: taxation is at a flat rate of 15% on rental income from Mauritian sources. On a table of examples, one notably observes that:
– for $1,500 monthly rent, the tax burden equates to an effective rate of about 3.89%,
– for $6,000 monthly, it approaches 15.44%,
– for $12,000 monthly, about 17.71%.
The existence of a progressive scale leads to proportionally higher taxation of larger rental portfolios than modest incomes, but this effect is partially offset by the absence of property tax and wealth tax.
No property tax or capital gains tax: a key advantage
From a wealth perspective, Mauritius retains several major advantages:
– there is no recurring property tax on buildings,
– there is no wealth tax,
– there is no capital gains tax on real estate when the property is held as an investment (i.e., not trading).
Concretely, an investor who buys an apartment in Flic-en-Flac and resells it a few years later with a capital gain is not specifically taxed on that gain, unless the property is considered as trading stock. In a market where prices have more than doubled nationally between 2019 and 2024, this element is far from negligible.
From July 2026: registration and transfer duties doubled for non-Mauritians
The big change for foreign investors is not so much about rents but about transaction costs on purchase and resale.
From July 1, 2026, registration duties for non-citizens buying residential property through EDB-approved schemes increase from 5% to 10% of the property value, even if the sales agreement was signed before this date, as long as the deed is registered after.
Symmetrically, the seller (whether Mauritian or not) will have to pay a land transfer tax of 10% on the value of the property sold to a non-citizen, up from 5% previously, again for deeds registered after July 1, 2026.
These two increases combined seriously raise the entry and exit costs for foreign investors. Total transaction fees can thus rise to around 20% of the property value (combined seller + buyer), not even including notary fees, EDB application fees, or intermediary commissions.
In the short term, this shift creates an arbitrage window: many investors are trying to close their acquisitions before the fateful date. But in the medium term, it is likely to further filter profiles, directing the market toward longer-term, less speculative buyers.
How does Flic-en-Flac compare to the rest of Mauritius?
To put Flic-en-Flac yields in perspective, we need to compare them with a few other major Mauritian real estate hubs.
At the national level, the gross average for all property types combined hovers around 3.07%, and market studies place residential yields in a broad range of 3 to 6% depending on location.
A summary table gives the following orders of magnitude:
| Area / Strategy | Estimated Gross Yield or ROI |
|---|---|
| Grand Baie – long-term rental | 5.5–7% |
| Grand Baie – seasonal rental | 8–10% |
| Tamarin / Black River – long term | 6–7.5% |
| Tamarin / Black River – seasonal | 8–11% |
| Flic-en-Flac – long term | 5–6.5% |
| Flic-en-Flac – seasonal (Airbnb) | 7–9% |
| Moka – long term | 5–6% |
We see that Flic-en-Flac sits in the “high” part of the Mauritian range for long-term, and in the intermediate-high yield zone for seasonal, without reaching the heights of some ultra-high-end micro-markets.
The residential price index has risen more than 140% between 2019 and 2024.
In parallel, rental income has increased, but not always at the same pace, which explains compressed yields in some segments. Where property value has exploded, current yield tends to erode unless adopting an aggressive seasonal strategy.
Should you favor long-term or Airbnb in Flic-en-Flac?
The question of the type of operation is central for an investor in Flic-en-Flac, as it determines yield, volatility, and level of involvement.
Long-term rental: lower yield, greater visibility
In the long-term market, rents follow a relatively stable trend, correlated with local salaries. Gross yields for a 2 or 3-bedroom are between 3 and 6% depending on purchase price, with often moderate vacancy in sought-after neighborhoods.
In return, management is simpler, tenant turnover lower, and cash flow less dependent on the tourist season. Medium-term tenants (long-stay expats, remote workers) sometimes accept to pay a bit more than a standard annual contract, while requiring fewer services than a weekly vacationer.
This formula is particularly suited to investors residing abroad who want to minimize operational complexity, or to those who keep an option for personal use during the year.
Seasonal rental: high yield but demanding management
In short-term rental, the numbers speak for themselves: an average Airbnb property in Flic-en-Flac earns around $11,200 per year, but a well-operated property can easily exceed $20,000 to $24,000 annually, even approaching $30,000 for the best performers. Relative to a purchase price of $250,000 to $300,000, these amounts give gross yields of 7 to 10%, sometimes more.
But this yield surplus comes at a price:
– management is more intensive (check-in/check-out, cleaning, reservations),
– income is highly dependent on season, marketing, and quality of guest reviews,
– sensitivity to unforeseen events (border closures, drop in international travel) remains high.
Many investors rely on specialized agencies or hotel managers. These take a management commission from gross yield, but their price optimization (dynamic pricing), ability to maintain high occupancy rates, and operational expertise can offset or even improve net yield compared to amateur management.
Concretely: how much to expect in 2026 for an apartment in Flic-en-Flac?
By aggregating available data and remaining cautious, we can sketch several scenarios for 2026.
Scenario 1: Standard 2-bedroom in long-term rental
– Purchase price: $276,000,
– Monthly rent: $885 (reference data),
– Annual revenue: $10,620,
– Gross yield: 3.85%.
After deductions:
– current expenses (insurance, maintenance, condo fees, a few months of vacancy over several years),
– tax on rents (at least 10–15% depending on the investor’s overall income level),
the net yield is likely to be more around 2–2.5%, possibly 3% if expenses are contained.
Scenario 2: Same 2-bedroom, operated on Airbnb with median performance
– Purchase price: $276,000,
– Average annual Airbnb revenue: $11,256,
– Gross yield: ≈ 4.08%.
The expected net yield falls within a range of 2.5 to 3.5% after accounting for all costs.
The interest here comes mainly from the optimization potential: better presenting the property, adopting dynamic pricing, targeting high-season months and long reservations could push income above average.
Scenario 3: 2 or 3-bedroom in the top 25% of Airbnb performance
Imagine a property in the top 25% category:
– monthly income: from $1,989–$2,043,
– annual income: on the order of $24,000 or more.
Gross yield reaches 8.7% for a $276,000 purchase generating $24,000 in annual revenue.
Even after subtracting 20 to 30% in combined operating costs and taxes, the net would still be around 5–7%, which is hard to achieve in long-term rental.
Scenario 4: Penthouse or apartment with high-end hotel management
For properties managed by hotels like Maradiva Resort or Sands Hotel, advertised returns of 6 to 8% net are credible if we trust:
– targeted occupancy rates (75–80% for some penthouses),
– nightly rates well above average,
– and the target clientele (international, high purchasing power).
But these products require an initial investment often close to or above one million dollars or euros and remain exposed, like others, to the new transaction taxes from July 2026.
A very promising market, but in a phase of “controlled cooling”
Finally, it must be remembered that the Mauritian real estate market, especially on the coasts, is emerging from a phase of sustained, even explosive, price increases. The official residential price index has risen more than 140% between 2019 and 2024, with annual increases frequently exceeding 20%.
The authorities have initiated, through the 2025–2026 budget, a strategy of “controlled cooling”:
Tightening of tax benefits with an end to massive exemptions, increase in registration duties for non-citizens, and stricter conditions for access to residence and permanent residence permits.
The goal is to calm excesses without causing a brutal bubble to burst. In this context, prospects for quick capital gains become more uncertain than in the past, even though foreign demand remains strong and coastal land scarcity is very real.
For an investor, this means relying less on a surge in resale prices and more on the quality of current rental yield, the robustness of demand, and fine-tuned management of the operation.
In summary: how much does an apartment in Flic-en-Flac yield in 2026?
Combining all the data, a realistic reading grid can be formulated:
In 2026, the type of rental significantly impacts gross and net yield depending on the property’s positioning.
Gross yield 3 to 5%; net yield 2 to 3% after expenses and taxes.
Gross yield 4 to 6% on average; up to 7 to 9% for listings in the top 10%.
Targeted net yields of 6 to 8%, for high entry tickets and turnkey hotel management.
The choice of strategy – long-term or Airbnb – will therefore depend on:
– the time and energy the investor wishes to devote to management,
– their risk appetite regarding seasonality and tourism,
– their holding horizon (short, medium, or long term),
– and how they incorporate the new tax and transaction constraints that ramp up toward 2026.
One thing is certain: in 2026, Flic-en-Flac remains one of the most dynamic markets in Mauritius for those seeking a balance between rental yield, long-term appreciation potential, and quality of life, provided they enter with clear numbers and a committed strategy.
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Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
