Top Local Real Estate Agencies in Madagascar

Published on October 4, 2025 and written by Cyril Jarnias

Madagascar, with its breathtaking landscapes and rapidly growing real estate potential, is attracting more and more investors and expatriates seeking their own piece of paradise. Whether you want to buy a luxury villa on the beaches of Nosy Be, invest in an apartment in the heart of Antananarivo, or acquire land for a development project, it’s crucial to rely on a reliable and experienced local real estate agency. In this article, we’ll explore the best real estate agencies in Madagascar, give you tips for choosing the one that best suits your needs, and inform you about the property management fees charged on the island.

Key Players in the Malagasy Real Estate Market

Let’s dive into the world of real estate agencies in Madagascar, examining the advantages and disadvantages of each one. This analysis will help you better understand the local real estate landscape and make an informed choice for your project.

1. Agence de la Poste – Immobilier Diego Suarez

• Excellent knowledge of the Diego Suarez (Antsiranana) region
• Extensive property portfolio, ranging from apartments to luxury villas
• Rental and sales services
• Multilingual team (French, English, Malagasy)

• Primarily focused on the northern region of Madagascar
• Limited online presence, which may limit property visibility

2. Immobilier Madagascar

• National coverage with properties in all major cities
• Modern and user-friendly website
• Wide range of services (purchase, sale, rental, property management)
• Expertise in luxury real estate and investment projects

• Potentially higher fees than some local agencies
• May lack in-depth knowledge of specific regions

3. Madagascar Real Estate

• Specialist in high-end real estate and prestige properties
• International network to attract foreign investors
• Personalized services and tailored support
• Expertise in real estate legislation for non-residents

• Limited portfolio for more modest properties or long-term rentals
• Generally higher rates, targeting affluent clients

4. Maison Immobilier Madagascar

• Strong local presence with excellent knowledge of the Antananarivo market
• Diverse offerings, from studios to family homes
• Renovation and interior design services
• Personalized approach and attentive client follow-up

• Limited presence outside the capital
• Less experience in international transactions

5. Immobilier Majunga

• Undisputed expert in the Majunga (Mahajanga) real estate market
• Specialist in seaside properties and tourism investments
• In-depth knowledge of local regulations
• Seasonal rental management services

• Activities concentrated on Majunga and surrounding areas
• Limited offerings for other regions of Madagascar

How to Find the Perfect Gem Among Malagasy Real Estate Agencies?

Finding the ideal real estate agency in Madagascar might seem challenging, but with the right criteria and a methodical approach, you can identify the perfect partner for your real estate project. Here are some tips to guide your search:

1. Evaluate Local Expertise

In-depth knowledge of the local market is essential. An agency that masters the subtleties of the region where you want to invest will be better equipped to advise you on opportunities and potential pitfalls. Don’t hesitate to ask specific questions about the neighborhood, market trends, and local development projects.

2. Check Accreditations and Affiliations

Although the real estate sector in Madagascar isn’t as regulated as in some Western countries, serious agencies are often members of professional associations or hold certifications. Look for affiliations with international networks or partnerships with reputable agencies abroad, which can be a sign of professionalism.

3. Examine the Range of Services Offered

A versatile agency capable of supporting you from A to Z in your project (property search, negotiation, legal aspects, property management) can prove invaluable, especially if you’re unfamiliar with the Malagasy market. Make sure the agency can meet all your needs.

4. Assess Transparency and Communication

The clarity of information provided, responsiveness to requests, and transparency about fees are important indicators of an agency’s reliability. A good agency should be able to clearly explain each step of the process and answer all your questions satisfactorily.

5. Check Reviews and Testimonials

Feedback from other clients can be very revealing. Look for online reviews, ask the agency for references, and if possible, contact former clients for their experience.

6. Compare Property Portfolios

An agency with a wide range of properties matching your criteria is a good sign. This indicates not only that they have good market knowledge but also that they have the capacity to offer you various options.

7. Evaluate Digital Presence

In an increasingly connected world, an agency with a well-designed website, detailed listings, and active social media presence demonstrates its commitment to staying modern and accessible.

8. Meet the Team in Person

If possible, visit the agency. This will give you an idea of their professionalism, organization, and allow you to assess whether you feel comfortable working with them long-term.

The Inside Scoop on Real Estate Management Fees in Madagascar

Understanding the fee structure charged by real estate agencies in Madagascar is essential for managing your investment effectively. Here’s an overview of the main fees you might encounter:

1. Agency Fees for Sales

Agency fees for selling a property in Madagascar typically range between 5% and 10% of the sale price. This percentage can be negotiable, especially for high-value properties. It’s important to note that these fees are usually the seller’s responsibility, but this can be subject to negotiation.

2. Rental Commission

For property rentals, agencies often charge the equivalent of one month’s rent, sometimes split between the owner and the tenant. Some agencies may charge up to two months’ rent for seasonal or short-term rentals.

3. Property Management Fees

If you entrust the management of your rental property to an agency, expect monthly fees between 5% and 15% of collected rents. This percentage may vary depending on the services included (payment management, maintenance, dispute management, etc.).

4. Custom Search Fees

Some agencies offer customized search services for clients with specific criteria. These services may be charged as a flat fee or a percentage of the final purchase price, typically between 2% and 5%.

5. Legal and Administrative Fees

Although often separate from agency fees, it’s common for agencies to facilitate administrative and legal procedures. These services may include verifying property titles, assisting with permit acquisition, etc. Fees vary depending on the complexity of the case.

6. Appraisal Fees

For an accurate property valuation, some agencies charge appraisal fees. These may be fixed or based on a percentage of the estimated value, typically between 0.1% and 0.5%.

7. Marketing Fees

For high-end properties or those requiring special promotion, some agencies may charge additional marketing fees. This may include professional photography, virtual tours, or targeted advertising campaigns.

8. Maintenance and Concierge Fees

For absent owners or foreign investors, agencies often offer maintenance and concierge services. These fees are typically calculated on a monthly or annual basis, depending on the size and complexity of the property.

Investing in real estate in Madagascar can be an exciting and potentially lucrative adventure. By choosing the right local real estate agency, you not only ensure finding the ideal property but also navigating smoothly through the administrative and legal intricacies specific to the country. Whether you’re looking for a vacation home on the paradise beaches of Nosy Be, a rental investment in the dynamic business district of Antananarivo, or land for a development project in Majunga, an experienced agency will be your best ally.

Remember that the Malagasy real estate market, although rapidly expanding, presents its own challenges and opportunities. Thorough due diligence, a clear understanding of the fees involved, and a trusting relationship with your agency are the keys to successfully completing your real estate project on the Big Island.

Also remember that real estate in Madagascar isn’t just a financial investment—it’s also an immersion into a rich and diverse culture. Take the time to absorb the local environment, learn a few words in Malagasy, and understand local customs. This will not only help you in your real estate transactions but will also enrich your overall experience in Madagascar.