Real Estate in Madagascar
Last updated on Apr 03, 2023
Summary: An expat looking to buy a home in Madagascar should begin their search by researching the local real estate market. They should look for listings on websites such as Immobilier.mg, Immo-Madagascar, and Immo-Plus. Additionally, they should consider contacting a local real estate agent who can provide more information about the local market and help them find the right property. Homes in Madagascar typically include basic amenities such as running water, electricity, and a kitchen. Depending on the location and price range, some homes may also include air conditioning, a pool, or other luxury features. Foreigners are allowed to own property in Madagascar, but there are certain restrictions. For example, foreigners are not allowed to own land, and they must obtain permission from the Ministry of Foreign Affairs before purchasing a property. Additionally, foreigners are not allowed to own more than one property in Madagascar.
How do I find a place to live in Madagascar?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Madagascar can be a challenge, but there are a few options available. One option is to look for rental properties online, such as through websites like Airbnb or HomeAway. Additionally, you can look for local real estate agents who specialize in rental properties in Madagascar. You can also look for classified ads in local newspapers or online forums. Finally, you can also ask around in the local community for recommendations on rental properties," said one expat in Madagascar.
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SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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What is a typical expat home or apartment like in Madagascar?
"Expat homes and apartments in Madagascar tend to be modern and comfortable, with amenities such as air conditioning, hot water, and internet access. Many expats choose to live in gated communities, which offer a sense of security and community. Expat homes and apartments often come with a variety of amenities, such as swimming pools, gyms, and tennis courts. Expats also have access to a variety of international restaurants, shops, and other services," said one expat in Madagascar.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
What is the average cost of housing in Madagascar?
If you are thinking about moving to Madagascar, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Madagascar varies greatly depending on the location and type of accommodation. Generally, housing in Madagascar is relatively inexpensive compared to other countries in the region. Rent for a one-bedroom apartment in a city center can range from $100 to $400 per month, while rent for a three-bedroom apartment in a suburban area can range from $200 to $600 per month," said one person in Madagascar.
Should I buy or rent a home in Madagascar?
If you have not spent a lot of time in Madagascar, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Madagascar can be a great investment, as the cost of living is relatively low and the country has a lot to offer. However, it is important to consider the cost of purchasing a home in Madagascar, as well as the cost of upkeep and maintenance. Renting a home in Madagascar can be a great option for those who are not ready to commit to buying a home, as it allows for more flexibility and can be more cost-effective in the short-term. Ultimately, the decision to buy or rent a home in Madagascar should be based on individual needs and preferences," said one expat who made the move to Madagascar.
What do I need to know when buying property in Madagascar?
When we asked expats what advice they would give a foreigner before buying a property in Madagascar, they said:
"1. It is important to research the local laws and regulations regarding property ownership in Madagascar before making any purchase. 2. It is advisable to hire a local lawyer to assist with the purchase process and to ensure that all legal requirements are met. 3. It is important to obtain a title deed for the property, which will provide proof of ownership. 4. It is important to be aware of any taxes or fees that may be applicable to the purchase of the property. 5. It is important to be aware of any restrictions on the use of the property, such as zoning regulations or restrictions on building or development. 6. It is important to be aware of any potential environmental issues that may affect the property, such as flooding or soil erosion. 7. It is important to be aware of any potential risks associated with the property, such as political instability or natural disasters. 8. It is important to be aware of any potential risks associated with the local economy, such as inflation or currency devaluation. 9. It is important to be aware of any potential risks associated with the local culture, such as language barriers or cultural differences. 10. It is important to be aware of any potential risks associated with the local infrastructure, such as access to utilities or transportation," explained one foreigner living in Madagascar.
Are foreigners allowed to own property in Madagascar?
When we asked expats what advice they would give a foreigner before buying a property in Madagascar, they said...
"Yes, foreigners are allowed to own property in Madagascar. The country has a law that allows foreign nationals to purchase and own real estate in Madagascar. However, the foreign national must obtain a permit from the Ministry of Interior and Decentralization in order to purchase property. The permit must be renewed every five years. Additionally, the foreign national must have a valid residence permit in order to purchase property in Madagascar," said one expat in Madagascar.
What appliances are typically included in a rental?
We asked foreigners in Madagascar what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Madagascar typically include a refrigerator, stove, and washing machine. Other common appliances may include a microwave, toaster oven, and air conditioning unit. Depending on the property, some may also include a dishwasher, clothes dryer, and water heater," explained one foreigner living in Madagascar.
Additional Information about Searching for a Home in Madagascar:
We asked foreigners in Madagascar what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Madagascar by looking online for real estate listings, contacting local real estate agents, and networking with other expats who may have knowledge of the local housing market. Additionally, expats can look for housing options in local newspapers and magazines, as well as on social media platforms such as Facebook and Twitter," said one in Madagascar.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
Additional Information:
- Madagascar Guide
- Healthcare & Health Insurance in Madagascar
- Members Talk about Healthcare & Health Insurance in Madagascar
- Best Places to Live in Madagascar
- Guide to Real Estate in Madagascar
- Pros & Cons of Living in Madagascar
- Cost of Living in Madagascar
- Pros and Cons of Living in Madagascar 2024