Category: Morocco

Morocco: Higher visitor numbers make it an excellent place to invest

Marrakesh, MoroccoMorocco remains an excellent country to buy property in with the number of tourists increasing by 6 percent last year despite the global economic crisis. By comparison, similar holiday destinations such as Spain and Tunisia saw the numbers of visitors decline.

In the past decade, Morocco has managed to double tourist income and there has been heavy investment in holiday properties over this period. The government are doing their bit by actively encouraging foreign investments to help raise up local living standards.

Morocco: A Buyer’s Guide to Property

Why Buy Property in Morocco?

Morocco is an excellent place to buy as it offers a lively culture and history whilst being just a few hours flight away from most major European cities, making it attractive to a large number of tourists. There are plenty of different properties and areas in Morocco to choose from – from properties in the bustling ancient cities of Tangier, Marrakech, Fez and Casablanca through to the arid desert.

Government reforms good for Moroccan property market

Experts have said that recent government moves to boost Morocco’s economy will make the country more attractive to buying foreign propertys.

The Moroccan government is said to be embarking on a programme of economic diversification which makes the country less dependent on industries such as agriculture, and boosts sectors such as tourism. The reforms could see the north African country becoming a more appealing destination for investors looking to buy property and eral estate overseas.

The magic of Marrakesh

Mention Marrakesh and most people will think of an exotic place full of travellers and traders, a place with a real buzz and plenty of culture with minarets, mosques, souks and carpet-sellers. It is easy to see why Marrakesh is so alluring, and it is this attraction that is marking it out as a good place to buy for overseas investors.

The housing market in the area is buoyant with prices having gone up by around 50% in two years. For those looking to buy or move to Marrakesh, it has a reputation as being a very tolerant Muslim state although there are some concerns over terrorism in the area. Traditional Moorish houses called riads are incredibly popular, and buyers should expect to spend around $400,000 Euros on a small riad.

Morocco – A guide to the buying process

Morocco is a country widely tipped by foreign property investors as a good place to buy for future returns. With the King’s Vision 2010 well under way, the country is hopeful that over ten million tourists will visit the country each year in the future. So, here at BuyingForeignProperty, we have put together a short guide to the buying process in Morocco.

When you have found your perfect property, it is best to secure the deal by placing a holding deposit of around $4,000 (£2,000). It can be advisable to place a refundable holding deposit on any property you are interested in before you go to see the property to stop any price hikes and to stop some other investor snapping up the property.

Morocco – A footballer’s heaven?

Morocco, famed for it’s fantastic climate, low house prices and wealth of culture, is becoming an attractive place to buy property for foreign investors. Ever since “Vision 2010” was launched in 2001, interest in Moroccan property has soared. The Vision is hoping to bring many tourists to the area and over $4 billion has been invested in the country’s infrastructure to aid this.

The country is becoming more accessible thanks to low-cost airlines, and as the tourism increases, so do the potential revenues from property investment. According to recent figures, Morocco’s economy increased by 8.1% in 2006, much of which is thanks to the burgeoning real estate trade.

Why Northern Morocco could be the next big thing.

Having spent the last few days in Morocco and around 6 months researching the market I feel a bit more qualified to put together my views regarding the potential for capital growth and future yield potential in the real estate development market.  I am going to concentrate on the area around Tangier but new developments springing up are situated in Saidia near the Algerian border and along the Atlantic coast. Conservative estimates of 15% growth per annum for the next 5 years and double digit yields are really possible.

Overview

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