Madagascar • Buying • Land • Foreign buyers

Buying in Madagascar: Real Estate and Foreigners

Villa in Nosy Be, secondary residence or real estate project: understanding land, long-term lease and essential checks before buying in Madagascar.

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A foreigner can invest in real estate in Madagascar, but the process of acquiring property in France should not be applied to the country. The central issue is land ownership: land, occupancy rights, buildings, and contracts must be identified and verified before any commitment is made.

This vigilance is particularly important for villas, tourist properties and properties located in Nosy Be or on the coast, where the attractiveness of a location can sometimes lead the buyer to focus on the house and the view before having sufficiently studied the legal situation of the land.

Important: This guide provides general information on the real estate and land framework applicable to foreign investors. It does not replace the examination of titles and contracts relating to a specific property, nor the advice of a qualified legal professional in Madagascar.
1. The land: Identify its legal status
2. The law : Determining what is actually transmitted
3. Building inspections and permits
4. The action : Securing the transaction before payment

Can a foreigner buy land in Madagascar?

The current framework is established in particular by Law No. 2023-002 of July 27, 2023 on investments in Madagascar.

Article 18 of it stipulates that foreign natural or legal persons cannot directly access land ownership.

This rule is essential: when a property is presented as a "villa for sale", the foreign buyer must determine precisely what rights pertain to the land, what rights pertain to the buildings and under what legal mechanism the entire transaction is proposed.

🇲🇬 The rule to remember

For a foreign investor, buying a villa and becoming the owner of the land are not necessarily one and the same legal transaction.

Malagasy law prohibits direct access to land ownership by foreign individuals or legal entities.

However, it allows them to freely enter into an emphyteutic lease, under the conditions provided for by law.

What is an emphyteutic lease?

Up to 99 years old

The emphyteutic lease is a long-term mechanism allowing one to have significant rights over a piece of land without becoming the owner of the land.

For foreign investors, Article 18 of Law No. 2023-002 provides for a maximum duration of ninety-nine years, renewable according to the terms set by the applicable legislation.

The law also specifies that this lease can be entered into freely and without prior authorization.

However, the mere mention of a "99-year lease" should never be considered a sufficient guarantee. The exact duration, the lessor, the rights granted, the financial terms, the possibilities for assignment, any buildings and their fate upon expiry must be examined in the deed applicable to the property.

Land, villa and real estate rights: don't confuse them

In an international acquisition, the words used in a commercial advertisement can simplify a much more precise legal reality.

The land: It is necessary to identify its status, its owner, its boundaries and the rights that the owner is legally able to transfer or lease.
The lease : If it is an emphyteutic lease, its remaining duration, its clauses, its renewal and the rights of the emphyteutic lessee must be studied.
The construction The villa itself must be subject to checks: legal existence, available permits, conformity and transferred rights.
The transaction: The buyer must understand exactly what they are acquiring or receiving and under what conditions before paying significant sums of money.

Does creating a Malagasy company automatically allow one to purchase the land?

It would be unwise to present it that way. The 2023 law expressly provides that companies incorporated under Malagasy law whose management is controlled by foreigners can also use renewable long-term leases.

The creation of a company should therefore not be presented as a shortcut automatically allowing a foreign investor to circumvent the rules relating to land ownership.

The appropriate legal structure depends on the project under consideration and should be studied with competent professionals before its implementation.

Essential checks before a purchase

1. Identify the rights holder. Verify the identity and legal capacity of the person or entity offering the land, lease, or property.
2. Check the land status The nature of the land documents and their consistency with the reality of the property must be examined.
3. Check the limits The advertised surface area, physical limits and documentary references must match.
4. Investigate third-party rights. Mortgages, charges, occupancies, disputes or other potential rights must be identified before the transaction.
5. Review the lease. Duration, renewal, royalty, assignment, works, constructions and termination of the contract must be understood before signing.
6. Check the constructions The house and its outbuildings must be compared with the available documents and authorizations.
7. Check access A villa can be magnificent while presenting an access or passage issue that needs to be clarified legally.
8. Have the whole thing audited. For a major transaction, the buyer has an interest in having the file checked by their own advisors and competent professionals in Madagascar.

Why is due diligence particularly important?

In the luxury real estate market, the property's value can encourage buyers to act quickly to avoid missing an opportunity. However, the larger the investment, the more rigorous the due diligence process must be.

The checks must cover legal aspects, but also technical aspects: condition of the construction, water, energy, sanitation, access, swimming pool, outbuildings and any independent installations.

It is also necessary to distinguish between documents provided by the seller and checks carried out independently on behalf of the buyer.

🌴 Buy a villa in Nosy Be

In Nosy Be, legal issues are added to the criteria specific to island real estate: access, view, distance to the beach, water supply, energy, maintenance and quality of construction.

In Andilana, Ambondrona, Ambaro or in more secluded areas, two seemingly comparable villas can have very different situations.

The buyer must therefore simultaneously analyze the property that is seen and the rights that are acquired.

→ Luxury real estate in Nosy Be: where to buy a villa?
→ Villas for sale in Nosy Be: Andilana and beachfront

How to organize a real estate purchase project?

Defining the project: Main residence, holiday home, family villa or rental project: the selection criteria are not the same.
Determine the overall budget . Do not consider only the advertised price of the property. Include the costs of verification, legal documents, advice, potential renovations, equipment, and maintenance.
Select the area, especially in Nosy Be, and study travel times, access, environment, beaches and services actually available.
Visiting and inspecting: A remote acquisition should not lead to neglecting the physical and technical inspection of the property.
Carry out legal checks. Have the land, any lease, buildings, transferred rights and the capacity of the seller or lessor inspected.
Securing financial commitments : Understanding the conditions of the preliminary contract and the final deed before any significant payment.

And what about for a rental or tourist investment?

The acquisition of a villa intended for commercial use should not be analyzed solely from a real estate perspective.

It is also necessary to study the framework of the planned activity, any necessary permits, taxation, management, staff, seasonality, maintenance costs and marketing conditions.

A return advertised in a commercial advertisement can never replace a forecast built from actually documented expenses and revenues.

→ Investing in luxury real estate in Madagascar

Compare prices before buying

Once the legal framework is clarified, the price must be compared to the local market and the specific characteristics of the property.

In Madagascar, public transaction data is much less accessible than in some European markets. It is therefore important to carefully distinguish between asking prices in advertisements and actual sales prices.

Our pillar page presents the main available benchmarks: Real estate prices in Madagascar: market and luxury areas .

🔎 Search for a property

Propriétés De Charme presents a selection of high-end villas, houses and properties in France and internationally.

An advertisement is a starting point: for an acquisition in Madagascar, legal and technical checks must then be carried out depending on the property concerned.

→ Search for a property

🏢 Real Estate Professionals

Are you marketing luxury villas or properties in Madagascar? Propriétés De Charme allows you to develop their visibility with a French and international clientele.

Even without real estate software compatible with French gateways, a specific presentation can be considered: you send your existing ad, your photographs and additional information, and the Propriétés De Charme customer service can prepare the dedicated page.

→ Post professional ads
→ Discover the Featured Property service

Continue the Madagascar real estate file

Real estate prices in Madagascar: Market, luxury areas and price benchmarks. Luxury real estate in Nosy Be. Areas to search for a villa. Villas for sale in Nosy Be. Andilana, sea views and prestigious properties. Investing in luxury real estate and projects in Madagascar. Selling. Enhancing the value of a luxury property in Madagascar. Publishing an advertisement. Developing the international visibility of a property.
Updated: September 2026. Regulations may change, and their application depends on the specific circumstances of the land, the property, the seller or lessor, and the buyer. A local legal review remains essential before any transaction.
Sources consulted: Law No. 2023-002 of July 27, 2023 on investments in Madagascar, in particular articles 18 and 19; National Assembly of Madagascar; Economic Development Board of Madagascar; UNCTAD Investment Policy Hub; documentation relating to land tenure and investment in Madagascar.