Then, as now, we closely followed developments elsewhere to provide the best and most suitable regulations for our banking system. We do not believe that there is any need for a complete overhaul of the supervisory and regulatory framework here in Mauritius, however critical this may be for some of the developed economies.
Currently, loan approvals to investors buying properties to rent out account for nearly 45 per cent of total loan approvals, with most of the investment properties being existing properties. Perhaps not surprisingly, the biggest increases in housing prices have occurred in the city where investor demand has been strongest – namely Sydney.