The Moroccan Mortgage Alliance was established in 2006 in association with The Spanish Mortgage Alliance formed in 2004 and currently operates from our offices in Marbella, Spain. The Moroccan Mortgage Alliance consists of a team of experienced multilingual professionals who between them have over 10 years experience in processing European Mortgages.
The company is dedicated to providing the highest quality of service and advice to clients wishing to purchase anywhere in Morocco. In order to achieve this we have thoroughly researched the Moroccan mortgage products available and have established strong links with a variety of lenders offering the best range of products available in the mortgage market today.
Our expertise covers the full spectrum of the property market. We have experience in arranging finance for properties ranging from apartments to villas, first time buyers to investors and for families relocating or purchasing their holiday home. Our aim is to provide top quality advice and the level of service you would expect from a company with our experience.
We recognise that purchasing a property is one of the most important decisions many of our clients will ever make. With this in mind we believe in going the extra mile to ensure that the purchase process is made as simple as possible. We explain the process, assess your financial situation, find the best mortgage available to meet your requirements and liaise with all parties involved.
Our customers are safe in the knowledge that we will do the shopping around for the right product for them.Our experienced multilingual administration team will update them at every stage of the process and take them through to completion.
Source http://www.moroccanmortgagealliance.com/index.html
Friday 26 January 2007
Thursday 25 January 2007
Morocco a shrewd investment
An exotic country, merely three hours away by plane, morocco has a unique decorative and vibrant culture and warm year-round climate. This increasing popularity is leaving the traditional travel and investment destinations in the shade.
Morocco shows all the signs of becoming a top investment destination for overseas buyers. Property prices are as little as half those of the Iberian Peninsula and, according to the Oxford Business Group, visitors are increasing (the government predicts that ten million tourists will visit the country each year by 2010).
in addition, the pro-Western government is encouraging overseas buyers. "Property prices have risen by around 50 per cent in the past two years and land prices have been rising even faster", says Alistair Emery of Hamptons.
An increase in Morocco property buyers has been encouraged by the very low cost in living, which is currently running at one third the cost of most European countries. This, coupled with the emergence of cheap flights from various European locations, means foreign buyers are buying a variety of Moroccan properties, including apartments, riads in the medinas and villas in the palmeraies.
With more and more property investors choosing Morocco, business practices are becoming more professional, which contributes to the overall stability of the property market. This leads to even greater confidence among the off-plan buying public.
The property market is booming, with realistic growth projections of 15% plus per annum.
Rental occupancy rates of 85 pre cent in peak season
Huge investment in infrastructure, with projected tourism increase from 2.2 million in 2005 to 10 million in 2010
Property prices are 50% less than the Costa del Sol, which at its closest point is only 9 miles away
The country enjoys a Mediterranean climate with 320 days sunshine per annum
Low cost of living
English, French and Spanish is widely spoken along with Arabic
Excellent travel links from the UK, with Ryanair scheduling 20 new flights to Morocco
Familiar investment regime, with notary supervised registration similar to France and Spain
Flexible mortgage packages available
Capital gains tax rate of just 20 per cent
Easy repatriation of investment proceeds
Morocco shows all the signs of becoming a top investment destination for overseas buyers. Property prices are as little as half those of the Iberian Peninsula and, according to the Oxford Business Group, visitors are increasing (the government predicts that ten million tourists will visit the country each year by 2010).
in addition, the pro-Western government is encouraging overseas buyers. "Property prices have risen by around 50 per cent in the past two years and land prices have been rising even faster", says Alistair Emery of Hamptons.
An increase in Morocco property buyers has been encouraged by the very low cost in living, which is currently running at one third the cost of most European countries. This, coupled with the emergence of cheap flights from various European locations, means foreign buyers are buying a variety of Moroccan properties, including apartments, riads in the medinas and villas in the palmeraies.
With more and more property investors choosing Morocco, business practices are becoming more professional, which contributes to the overall stability of the property market. This leads to even greater confidence among the off-plan buying public.
The property market is booming, with realistic growth projections of 15% plus per annum.
Rental occupancy rates of 85 pre cent in peak season
Huge investment in infrastructure, with projected tourism increase from 2.2 million in 2005 to 10 million in 2010
Property prices are 50% less than the Costa del Sol, which at its closest point is only 9 miles away
The country enjoys a Mediterranean climate with 320 days sunshine per annum
Low cost of living
English, French and Spanish is widely spoken along with Arabic
Excellent travel links from the UK, with Ryanair scheduling 20 new flights to Morocco
Familiar investment regime, with notary supervised registration similar to France and Spain
Flexible mortgage packages available
Capital gains tax rate of just 20 per cent
Easy repatriation of investment proceeds
NORTH AFRICAN HOTSPOTS RISE IN POPULARITY
Reflecting growing interest from investors, Egypt and Morocco leapt up the rankings of TheMoveChannel.com’s Top of the Props Top Ten chart in December.
Based on interest from visitors to the site, Morocco rose seven positions to fifth place while Egypt rose 15 places to reach seventh place. The Top of the Props chart reflects each listed country’s share of the overall volume of enquiries the property website receives over the preceding month.
The top ten, with percentage of market share and position change, are as follows:
France: 11.28% (non-mover for last four months)
Spain: 9.99% (up one)
Italy: 8.07% (up one)
Bulgaria: 8.07% (down two)
Morocco: 3.85% (up seven)
Cyprus: 3.71% (up two)
Egypt: 3.58% (up15)
USA: 3.38% (up 7)
Portugal: 3.34% (down three)
India: 3.23% (down one)
Both of these North African countries have seen a rise in tourism and are investing substantial resource to increase numbers. Egypt saw a record 8.6 million visitors in 2005 (according to the Egyptian Tourism Authority) and hopes to double this by 2014. Morocco received 5.8 million tourists in the same year and has already launched a major initiative to double by 2010 (according to the Morocco Tourism Authority). Rising numbers are being driven, in part, by new cheap flights from Easyjet and Ryanair.
An increase in tourist numbers means more property investors, according to TheMoveChannel’s sister company E-Quity.com. “ Morocco offers European proximity and quality at emerging market prices,” said sales consultant Meredith Drynan. “With high occupancy rates and a King dedicated to increasing tourism even further to 10 million visitors per annum by 2010, Morocco’s improving infrastructure, Mediterranean climate and accessibility make this a smart investment and lifestyle choice.”
Commenting on Egypt, Chris Davidson, product manager at E-Quity.com, said: “An increasingly popular tourist destination, Egypt offers cultural attractions dating back to 3200BC, thousands of miles of glorious beachfront as well as world-beating dive spots. The Egyptian government is currently heavily promoting its tourist sector and is opening tourist offices around the world. A low tax environment is just one of the ways the Government is attracting international investors right now.”
An increase in foreign investment is also helping to drive up prices, as Dale Pilkington of Churchill Overseas explains: “Some land and property prices on the Red Sea coast have already increased by as much as 60% in the past 12 months and property professionals are forecasting further rises of around 15% in the next year. Additionally, the Egyptian government is competing with neighbouring Gulf States to attract foreign investment into real estate which is anticipated to stimulate further growth in the property market. With entry into the market still very competitive with properties available for less than £30,000, property investors are flocking to the Egyptian market.”
Themovechannel
Based on interest from visitors to the site, Morocco rose seven positions to fifth place while Egypt rose 15 places to reach seventh place. The Top of the Props chart reflects each listed country’s share of the overall volume of enquiries the property website receives over the preceding month.
The top ten, with percentage of market share and position change, are as follows:
France: 11.28% (non-mover for last four months)
Spain: 9.99% (up one)
Italy: 8.07% (up one)
Bulgaria: 8.07% (down two)
Morocco: 3.85% (up seven)
Cyprus: 3.71% (up two)
Egypt: 3.58% (up15)
USA: 3.38% (up 7)
Portugal: 3.34% (down three)
India: 3.23% (down one)
Both of these North African countries have seen a rise in tourism and are investing substantial resource to increase numbers. Egypt saw a record 8.6 million visitors in 2005 (according to the Egyptian Tourism Authority) and hopes to double this by 2014. Morocco received 5.8 million tourists in the same year and has already launched a major initiative to double by 2010 (according to the Morocco Tourism Authority). Rising numbers are being driven, in part, by new cheap flights from Easyjet and Ryanair.
An increase in tourist numbers means more property investors, according to TheMoveChannel’s sister company E-Quity.com. “ Morocco offers European proximity and quality at emerging market prices,” said sales consultant Meredith Drynan. “With high occupancy rates and a King dedicated to increasing tourism even further to 10 million visitors per annum by 2010, Morocco’s improving infrastructure, Mediterranean climate and accessibility make this a smart investment and lifestyle choice.”
Commenting on Egypt, Chris Davidson, product manager at E-Quity.com, said: “An increasingly popular tourist destination, Egypt offers cultural attractions dating back to 3200BC, thousands of miles of glorious beachfront as well as world-beating dive spots. The Egyptian government is currently heavily promoting its tourist sector and is opening tourist offices around the world. A low tax environment is just one of the ways the Government is attracting international investors right now.”
An increase in foreign investment is also helping to drive up prices, as Dale Pilkington of Churchill Overseas explains: “Some land and property prices on the Red Sea coast have already increased by as much as 60% in the past 12 months and property professionals are forecasting further rises of around 15% in the next year. Additionally, the Egyptian government is competing with neighbouring Gulf States to attract foreign investment into real estate which is anticipated to stimulate further growth in the property market. With entry into the market still very competitive with properties available for less than £30,000, property investors are flocking to the Egyptian market.”
Themovechannel
Wednesday 24 January 2007
Royal Resort Cap Malabata formally launched
Signaling the start of development of the first phase of the US$ 1.4 billion Gateway to Morocco project in the Kingdom of Morocco, H.E. Mizwar Salahuddin, Minister of Industry & Commerce, today formally inaugurated the Royal Resort Cap Malabata Client Relations Centre (CRC).
Mr. Jalloul Samsam, the Director of the Regional Investment Center of Tangier , H.E. Driss Khazani, the Wali of Tetuan, Mr. Mohammed Al Arif - Mayor of Fahs Anjara, Mr. Toufiq Hijaira, Minister Delegate to the Prime Minister in charge of Housing and Urbanism, Mr. A.Rahman Al Jasmi, Deputy CEO of Gulf Finance House, H.E. Salahuddin Mizwar - Minister of Industry & Commerce, Mr. Esam Janahi, CEO & Board Member of Gulf Finance House, Mr. Hassan Barnousi - Director of International Investments for the Government of Morocco
Gulf Finance House: Successful transaction completion heralds international focus
Egypt an excellent and attractive investment option, says Gulf Finance House CEO
Gulf Finance House declared 'Bank of the Year'
Banyan Tree Desert Spa & Resort at Al Areen to formally open in Quarter 1 2007
Gulf Finance House confirms complete compliance with Stock Exchange disclosure rules
» more Gulf Finance House (GFH) news
A unique mixed-use tourism, commercial and residential destination in the city of Tangiers, the circa US$ 600 million Royal Resort Cap Malabata development is one of the two distinctive but complementary elements of the US$ 1.4 billion Gateway to Morocco project, the second element being Royal Ranches in Marrakech.
Royal Resort Cap Malabata was launched at a press conference followed by a high-profile function attended by Mr. Toufiq Hijaira, Minister Delegate to the Prime Minister in charge of Housing and Urbanism, H.E. Driss Khazani, the Wali of Tetuan, Mr. Mohammed Al Arif, the Mayor of Fahs Anjara, Mr. Jalloul Samsam, the Director of the Regional Investment Center of Tangier and Mr. Hassan Barnousi, Director of International Investments for the Government of Morocco.
Other attendees included top government officials, an array of senior dignitaries, VIPs, Gulf Finance House (GFH) senior management, members of the Diplomatic Corps, investors, strategic partners, international tourism operators and hoteliers.
The event commenced with the inauguration of the CRC followed by a guided tour of the vicinity, a laser show and cultural programme, and ended with a grand reception.
Mr. Esam Janahi, Chief Executive Officer and Board Member of GFH, a leading MENA region Islamic investment bank and promoter of the Gateway to Morocco project, said
"On behalf of the Board of Directors of GFH, I would like to thank His Majesty King Mohammed VI for his continuous support for the Gateway to Morocco project and his strong commitment in encouraging Foreign Direct Investment (FDI) flow into the Kingdom of Morocco and developing the economy. I would also like to thank H.E. Mr. Driss Jetou, the Prime Minister of the Kingdom of Morocco for all the support provided by the Moroccan government. We look forward to the continued encouragement of the Government towards foreign investment."
"The Moroccan economy has experienced excellent growth over the last few years. Additionally, Morocco is a farsighted real estate investment location offering all the right natural elements for a harmonious environment.
Tangiers with its beautiful beaches, and its close proximity to Europe, Mediterranean environment, language, accessibility, culture, amongst other striking features provided the ideal setting for the Royal Resort Cap Malabata project.
'Royal Resort Cap Malabata will positively contribute to the overall social and economic framework of Morocco by enhancing FDI flow, offering investors with a new attractive investment opportunity and by directly and indirectly creating a quantum of new jobs in the Kingdom,' Mr. Janahi added.
Designed as a one-of-a-kind mixed-use tourism, commercial and residential destination on the Mediterranean coast, Royal Resort Cap Malabata in the city of Tangiers, will cover a total area of 127 hectares. It will feature cafes, galleries, exclusive shopping areas, beach house, 9-hole golf course, equestrian club and convention centre. Royal Resort Cap Malabata will also provide the international business community with an exclusive destination for corporate meetings, conventions and exhibitions. The resort will also include a private school as well as a clinic equipped with the latest medical facilities.
The new on-site state-of-the-art CRC will serve as a fully integrated sales and support centre for developers, and also function as a hub for promoting and advertising the development. Moreover, the CRC will host guests, investors, events, press conferences, meetings and site tours.
Commenting on the Royal Resort Cap Malabata development, H.E. Mohammed Hassad, the Wali of Tangiers, said: 'We are extremely excited about the launch of the Royal Resort Cap Malabata project and look forward to its completion. This is indeed a significant development as it will position Tangiers as a unique and wholesome destination catering to a broad spectrum of tourists, businessmen and residents. Furthermore, the resort will generate important new business and corporate hospitality revenue by attracting regional and international tourists."
'Gateway to Morocco', estimated at US$ 1.4 billion, adds to GFH's existing investment and project portfolio in the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Qatar, Kuwait, the Hashemite Kingdom of Jordan, the Arab Republic of Egypt, India, Germany, Spain and France.
Mr. Jalloul Samsam, the Director of the Regional Investment Center of Tangier , H.E. Driss Khazani, the Wali of Tetuan, Mr. Mohammed Al Arif - Mayor of Fahs Anjara, Mr. Toufiq Hijaira, Minister Delegate to the Prime Minister in charge of Housing and Urbanism, Mr. A.Rahman Al Jasmi, Deputy CEO of Gulf Finance House, H.E. Salahuddin Mizwar - Minister of Industry & Commerce, Mr. Esam Janahi, CEO & Board Member of Gulf Finance House, Mr. Hassan Barnousi - Director of International Investments for the Government of Morocco
Gulf Finance House: Successful transaction completion heralds international focus
Egypt an excellent and attractive investment option, says Gulf Finance House CEO
Gulf Finance House declared 'Bank of the Year'
Banyan Tree Desert Spa & Resort at Al Areen to formally open in Quarter 1 2007
Gulf Finance House confirms complete compliance with Stock Exchange disclosure rules
» more Gulf Finance House (GFH) news
A unique mixed-use tourism, commercial and residential destination in the city of Tangiers, the circa US$ 600 million Royal Resort Cap Malabata development is one of the two distinctive but complementary elements of the US$ 1.4 billion Gateway to Morocco project, the second element being Royal Ranches in Marrakech.
Royal Resort Cap Malabata was launched at a press conference followed by a high-profile function attended by Mr. Toufiq Hijaira, Minister Delegate to the Prime Minister in charge of Housing and Urbanism, H.E. Driss Khazani, the Wali of Tetuan, Mr. Mohammed Al Arif, the Mayor of Fahs Anjara, Mr. Jalloul Samsam, the Director of the Regional Investment Center of Tangier and Mr. Hassan Barnousi, Director of International Investments for the Government of Morocco.
Other attendees included top government officials, an array of senior dignitaries, VIPs, Gulf Finance House (GFH) senior management, members of the Diplomatic Corps, investors, strategic partners, international tourism operators and hoteliers.
The event commenced with the inauguration of the CRC followed by a guided tour of the vicinity, a laser show and cultural programme, and ended with a grand reception.
Mr. Esam Janahi, Chief Executive Officer and Board Member of GFH, a leading MENA region Islamic investment bank and promoter of the Gateway to Morocco project, said
"On behalf of the Board of Directors of GFH, I would like to thank His Majesty King Mohammed VI for his continuous support for the Gateway to Morocco project and his strong commitment in encouraging Foreign Direct Investment (FDI) flow into the Kingdom of Morocco and developing the economy. I would also like to thank H.E. Mr. Driss Jetou, the Prime Minister of the Kingdom of Morocco for all the support provided by the Moroccan government. We look forward to the continued encouragement of the Government towards foreign investment."
"The Moroccan economy has experienced excellent growth over the last few years. Additionally, Morocco is a farsighted real estate investment location offering all the right natural elements for a harmonious environment.
Tangiers with its beautiful beaches, and its close proximity to Europe, Mediterranean environment, language, accessibility, culture, amongst other striking features provided the ideal setting for the Royal Resort Cap Malabata project.
'Royal Resort Cap Malabata will positively contribute to the overall social and economic framework of Morocco by enhancing FDI flow, offering investors with a new attractive investment opportunity and by directly and indirectly creating a quantum of new jobs in the Kingdom,' Mr. Janahi added.
Designed as a one-of-a-kind mixed-use tourism, commercial and residential destination on the Mediterranean coast, Royal Resort Cap Malabata in the city of Tangiers, will cover a total area of 127 hectares. It will feature cafes, galleries, exclusive shopping areas, beach house, 9-hole golf course, equestrian club and convention centre. Royal Resort Cap Malabata will also provide the international business community with an exclusive destination for corporate meetings, conventions and exhibitions. The resort will also include a private school as well as a clinic equipped with the latest medical facilities.
The new on-site state-of-the-art CRC will serve as a fully integrated sales and support centre for developers, and also function as a hub for promoting and advertising the development. Moreover, the CRC will host guests, investors, events, press conferences, meetings and site tours.
Commenting on the Royal Resort Cap Malabata development, H.E. Mohammed Hassad, the Wali of Tangiers, said: 'We are extremely excited about the launch of the Royal Resort Cap Malabata project and look forward to its completion. This is indeed a significant development as it will position Tangiers as a unique and wholesome destination catering to a broad spectrum of tourists, businessmen and residents. Furthermore, the resort will generate important new business and corporate hospitality revenue by attracting regional and international tourists."
'Gateway to Morocco', estimated at US$ 1.4 billion, adds to GFH's existing investment and project portfolio in the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Qatar, Kuwait, the Hashemite Kingdom of Jordan, the Arab Republic of Egypt, India, Germany, Spain and France.
Casablanca Stock Exchange experienced significant growth in 2006
Last year saw the Casablanca Stock Exchange listing more companies and increasing share prices. Financial analysts expect the growth to continue this year, reflecting increased confidence in the Moroccan economy.
By Mawassi Lahcen for Magharebia in Casablanca -- 05/01/07
[Mawassi Lahcen] The chairman of the Casablanca Stock Exchange rings the bell after the listing of a new company.
The Casablanca Stock Exchange experienced unprecedented activity in 2006, with the number of transactions on the retail market for Moroccan shares reaching 117.4 billion dirhams -- an increase of 212.9% from 2005.
Some 200,000 Moroccans trade shares on the stock exchange. In 2006, they traded 128.8 million shares, an increase of 64.13%. The share prices of 45 companies rose by high percentages, causing the Moroccan All Shares Index (MASI) to increase by 71.14%.
The exchange's year-end capitalisation was 417.09 billion dirhams, an increase of 65.32% from 2005. The volume of the capitalisation of the Moroccan stock market was equivalent to 83% of Morocco's gross national product.
The rise in the stock exchange's indices reflects the confidence in Moroccan economy, which is expected to have grown by 7.3% for 2006, Upline Securities Bank General Manager Rachid Alaoui said. The indices were also affected by better than expected half-year results of listed companies, which showed an increase in combined net profits of 35%.
Alaoui also attributed the rise in Moroccan share prices to a substantial increase in cash liquidity, resulting from privatisation revenues, an increase in remittances from workers abroad, tourism revenues, and the influx of foreign investment -- particularly from Europe and the Gulf states. The increase in liquidity caused a fall in interest rates to the lowest-ever level in the country, which made investors prefer to invest their funds in shares instead of bonds.
Alaoui says he does not expect any significant drop in share prices and says the upward trend should continue through this year, with many new companies joining the exchange. During 2006, 7.1 million new shares were listed on the stock exchange at a value of 7.2 billion dirhams.
Abdelaziz Lahlou, a senior financial analyst at the Attijariwafa Bank's brokerage subsidiary firm, told Magharebia that there will be a corrective fall in the prices of certain shares which increased in an exaggerated way over the past year. However, he does not expect there to be a major collapse in the market.
Casablanca Stock Exchange Organisation and Information Systems Director Omar Drissi Kaitouni said the developments in the Moroccan stock market reflect the new role that the stock exchange is playing in the national economy. He said the reform of the stock exchange, which has now entered its tenth year, has borne fruit, and is contributing in a more efficient way to mobilise savings, attract foreign investment and finance the national economy.
Moroccan authorities have been implementing a series of measures to modernise and reform the financial market. At the end of 2006, the Moroccan Parliament ratified new laws regulating the publication of information related to listed companies, ensuring market transparency, and protecting the rights of those dealing in the market. Preparations are under way to introduce futures transactions.
By Mawassi Lahcen for Magharebia in Casablanca -- 05/01/07
[Mawassi Lahcen] The chairman of the Casablanca Stock Exchange rings the bell after the listing of a new company.
The Casablanca Stock Exchange experienced unprecedented activity in 2006, with the number of transactions on the retail market for Moroccan shares reaching 117.4 billion dirhams -- an increase of 212.9% from 2005.
Some 200,000 Moroccans trade shares on the stock exchange. In 2006, they traded 128.8 million shares, an increase of 64.13%. The share prices of 45 companies rose by high percentages, causing the Moroccan All Shares Index (MASI) to increase by 71.14%.
The exchange's year-end capitalisation was 417.09 billion dirhams, an increase of 65.32% from 2005. The volume of the capitalisation of the Moroccan stock market was equivalent to 83% of Morocco's gross national product.
The rise in the stock exchange's indices reflects the confidence in Moroccan economy, which is expected to have grown by 7.3% for 2006, Upline Securities Bank General Manager Rachid Alaoui said. The indices were also affected by better than expected half-year results of listed companies, which showed an increase in combined net profits of 35%.
Alaoui also attributed the rise in Moroccan share prices to a substantial increase in cash liquidity, resulting from privatisation revenues, an increase in remittances from workers abroad, tourism revenues, and the influx of foreign investment -- particularly from Europe and the Gulf states. The increase in liquidity caused a fall in interest rates to the lowest-ever level in the country, which made investors prefer to invest their funds in shares instead of bonds.
Alaoui says he does not expect any significant drop in share prices and says the upward trend should continue through this year, with many new companies joining the exchange. During 2006, 7.1 million new shares were listed on the stock exchange at a value of 7.2 billion dirhams.
Abdelaziz Lahlou, a senior financial analyst at the Attijariwafa Bank's brokerage subsidiary firm, told Magharebia that there will be a corrective fall in the prices of certain shares which increased in an exaggerated way over the past year. However, he does not expect there to be a major collapse in the market.
Casablanca Stock Exchange Organisation and Information Systems Director Omar Drissi Kaitouni said the developments in the Moroccan stock market reflect the new role that the stock exchange is playing in the national economy. He said the reform of the stock exchange, which has now entered its tenth year, has borne fruit, and is contributing in a more efficient way to mobilise savings, attract foreign investment and finance the national economy.
Moroccan authorities have been implementing a series of measures to modernise and reform the financial market. At the end of 2006, the Moroccan Parliament ratified new laws regulating the publication of information related to listed companies, ensuring market transparency, and protecting the rights of those dealing in the market. Preparations are under way to introduce futures transactions.
Free viewing trips to Morocco with Property Borders
The free viewing trip offer only applies to new reservations in Morocco.
You must be financially in a position to purchase.
If two people are needed to make the decision to purchase then both need to attend the appointment.
You must pay a holding deposit to be eligible for FREE WEEKEND VIEWING TRIPS. The deposit will be fully refunded, if you are not fully satisfied with your chosen Moroccan property. Holding deposits are requested to show commitment and reserve the best possible available property to avoid disappointment on arrival.
The offer applies to a maximum of two people for two nights, any two nights are ok. Accommodation in a specified hotel is subject to availability and entirely at the company’s discretion.
If clients are flying to Malaga accommodation shall be 1 night in Spain and 1 night in Morocco.
All viewing trips must be completed within 30 days of clients leaving a holding deposit.
Property Borders shall refund £100 per person (max 2 people) for flights to Malaga and £200 per person (max 2 people) for flights to Tangier. You must book and pay for your own flights initially. To claim the money for your visit you will need to produce the flight confirmation and provide personal bank account details (inc. IBAN code) to where the refund is to be made. We can only reimburse for flights in this way. If the appointment is not attended for any reason we will not reimburse flights.
If viewing Morocco and flying to Malaga, you will be collected from the airport and chauffeured to Algeciras or Tarifa for the ferry to Tangier, collected in Tangier and taken to your accommodation. (Ferry unavailable in July/Aug – direct flights recommended).
Inspection trips are an important part of the buying process. They are not solely about viewing the site or the property they also give clients a chance to experience Morocco and its unique culture.
Travel To…
Tangier
Direct or indirect flights are available throughout the UK. (direct flights are available with Ryl Air Maroc and GB airways). Alternatively take a budget flight, Easy Jet, Ryan Air or BMI, to Malaga, a coach/taxi to Tarifa or Algeciras then a ferry over to Tangier (this can take as little as 30 minutes). We can usually arrange collection at Malaga, car service to Tarifa or Algeciras and collection at the port in Tangier. (contact us for further details)
Saidia
Fly indirectly to Oujda, which is approx 50km from Saidia, there are plans for future direct flights.
Or fly to Malaga and catch a connecting flight to Melilla with airlines such as Iberia. Flights are frequent, cheap and take just 45 minutes. Melilla is then only an hour and a half from Saidia by car.
Marrakech
Direct flights from the UK leave Gatwick and Heathrow daily and from Luton on Mondays, Wednesdays, Fridays and Sundays. Among airlines offering flights are BA, Ryl Air Maroc, and Atlas Blue and from July, Easyjet.
Fes
For a low cost alternative fly to Fes with Ryanair to access areas of Northern Morocco including Meknes, Tangier & Saidia. (please note further travel by car, coach or train will be required).
Some clients opt to purchase their properties without viewing especially if they are investment buyers or have traveled to Morocco in the past and know that they liked and enjoyed the country but for everyone else our English speaking representatives are available at all our advertised resorts to show clients a full range of properties. Once you have settled in at your hotel our local representative will take you to view your chosen property/site, give you a guided tour of the area and answer any questions you may have with no pressure.
Alternatively if you do not wish to leave a holding deposit we are happy to assist you in arranging accommodation and advise you on travel arrangements, just advise us of your chosen dates for travel BEFORE booking flights/accommodation and we will be pleased to arrange collection from the airport and transport you free of charge to your hotel. Your return to the airport at the end of your visit can also be arranged by us. There is no charge for the airport collection and delivery service.
Contact us for further information regarding viewing trips or advice on travel arrangements: 0208 508 9905 or enquiries@propertyborders.com
Source www.propertyborders.com
You must be financially in a position to purchase.
If two people are needed to make the decision to purchase then both need to attend the appointment.
You must pay a holding deposit to be eligible for FREE WEEKEND VIEWING TRIPS. The deposit will be fully refunded, if you are not fully satisfied with your chosen Moroccan property. Holding deposits are requested to show commitment and reserve the best possible available property to avoid disappointment on arrival.
The offer applies to a maximum of two people for two nights, any two nights are ok. Accommodation in a specified hotel is subject to availability and entirely at the company’s discretion.
If clients are flying to Malaga accommodation shall be 1 night in Spain and 1 night in Morocco.
All viewing trips must be completed within 30 days of clients leaving a holding deposit.
Property Borders shall refund £100 per person (max 2 people) for flights to Malaga and £200 per person (max 2 people) for flights to Tangier. You must book and pay for your own flights initially. To claim the money for your visit you will need to produce the flight confirmation and provide personal bank account details (inc. IBAN code) to where the refund is to be made. We can only reimburse for flights in this way. If the appointment is not attended for any reason we will not reimburse flights.
If viewing Morocco and flying to Malaga, you will be collected from the airport and chauffeured to Algeciras or Tarifa for the ferry to Tangier, collected in Tangier and taken to your accommodation. (Ferry unavailable in July/Aug – direct flights recommended).
Inspection trips are an important part of the buying process. They are not solely about viewing the site or the property they also give clients a chance to experience Morocco and its unique culture.
Travel To…
Tangier
Direct or indirect flights are available throughout the UK. (direct flights are available with Ryl Air Maroc and GB airways). Alternatively take a budget flight, Easy Jet, Ryan Air or BMI, to Malaga, a coach/taxi to Tarifa or Algeciras then a ferry over to Tangier (this can take as little as 30 minutes). We can usually arrange collection at Malaga, car service to Tarifa or Algeciras and collection at the port in Tangier. (contact us for further details)
Saidia
Fly indirectly to Oujda, which is approx 50km from Saidia, there are plans for future direct flights.
Or fly to Malaga and catch a connecting flight to Melilla with airlines such as Iberia. Flights are frequent, cheap and take just 45 minutes. Melilla is then only an hour and a half from Saidia by car.
Marrakech
Direct flights from the UK leave Gatwick and Heathrow daily and from Luton on Mondays, Wednesdays, Fridays and Sundays. Among airlines offering flights are BA, Ryl Air Maroc, and Atlas Blue and from July, Easyjet.
Fes
For a low cost alternative fly to Fes with Ryanair to access areas of Northern Morocco including Meknes, Tangier & Saidia. (please note further travel by car, coach or train will be required).
Some clients opt to purchase their properties without viewing especially if they are investment buyers or have traveled to Morocco in the past and know that they liked and enjoyed the country but for everyone else our English speaking representatives are available at all our advertised resorts to show clients a full range of properties. Once you have settled in at your hotel our local representative will take you to view your chosen property/site, give you a guided tour of the area and answer any questions you may have with no pressure.
Alternatively if you do not wish to leave a holding deposit we are happy to assist you in arranging accommodation and advise you on travel arrangements, just advise us of your chosen dates for travel BEFORE booking flights/accommodation and we will be pleased to arrange collection from the airport and transport you free of charge to your hotel. Your return to the airport at the end of your visit can also be arranged by us. There is no charge for the airport collection and delivery service.
Contact us for further information regarding viewing trips or advice on travel arrangements: 0208 508 9905 or enquiries@propertyborders.com
Source www.propertyborders.com
FAQ Morocco property by Property Borders
Why Should I Purchase Through Property Borders?
We have years of experience in the Moroccan property market and have built up a network of contacts. As we are a Moroccan owned agency we have a genuine interest in promoting the country.
Who Can Purchase Property In Morocco?
Anyone. Morocco is currently encouraging foreign investment and offering great tax incentives. This is especially good for UK and US citizens as there is a double tax treaty between these countries and Morocco
Will I Be Able To Rent My Property?
Yes. Most of our developments have rental offices associated with them. They offer a full rental/management service. Alternatively, you can arrange the rental of the property yourself. Rental occupancy is usually 85% during peak season and you can expect 80-100 euros per night. New owners have no rental tax to pay for the first 5 years
I Have Seen The Property I Want. What Next?
You will need to place a deposit, usually known as a holding deposit. Some developers will also request a small handling charge. Both of these will be refundable for a period of 30 days to give you a chance to view the property or the site.
What Are My Buying Costs?
You will need to budget for an extra 5% to cover notorial and property registration fees.
Are Mortgages Available?
Yes, Mortgages can be taken with Moroccan banks offering 70% of the purchase price. To apply for a mortgage you will need the following:
1. Attestation of employment
2. 6 months bank statements
3. Your last 3 wage slips
Are The Properties Freehold?
Yes. Property Borders only deals in properties that are 100% freehold.
How Quickly Are Property Prices Rising In Morocco?
Prices are rising between 15-30% annually.
Will I Need A Solicitor?
Yes. We have contacts with English speaking solicitors.
Do I need a Moroccan bank account?
Yes. To fully repatriate your funds overseas you will need to prove that the money for the property initially came from abroad. To do this you will need a Moroccan bank account which we will arrange for you.
What is the exchange rate?
The exchange rate is 15.8 MAD to £1 sterling (approximately)
Source www.propertyborders.com
We have years of experience in the Moroccan property market and have built up a network of contacts. As we are a Moroccan owned agency we have a genuine interest in promoting the country.
Who Can Purchase Property In Morocco?
Anyone. Morocco is currently encouraging foreign investment and offering great tax incentives. This is especially good for UK and US citizens as there is a double tax treaty between these countries and Morocco
Will I Be Able To Rent My Property?
Yes. Most of our developments have rental offices associated with them. They offer a full rental/management service. Alternatively, you can arrange the rental of the property yourself. Rental occupancy is usually 85% during peak season and you can expect 80-100 euros per night. New owners have no rental tax to pay for the first 5 years
I Have Seen The Property I Want. What Next?
You will need to place a deposit, usually known as a holding deposit. Some developers will also request a small handling charge. Both of these will be refundable for a period of 30 days to give you a chance to view the property or the site.
What Are My Buying Costs?
You will need to budget for an extra 5% to cover notorial and property registration fees.
Are Mortgages Available?
Yes, Mortgages can be taken with Moroccan banks offering 70% of the purchase price. To apply for a mortgage you will need the following:
1. Attestation of employment
2. 6 months bank statements
3. Your last 3 wage slips
Are The Properties Freehold?
Yes. Property Borders only deals in properties that are 100% freehold.
How Quickly Are Property Prices Rising In Morocco?
Prices are rising between 15-30% annually.
Will I Need A Solicitor?
Yes. We have contacts with English speaking solicitors.
Do I need a Moroccan bank account?
Yes. To fully repatriate your funds overseas you will need to prove that the money for the property initially came from abroad. To do this you will need a Moroccan bank account which we will arrange for you.
What is the exchange rate?
The exchange rate is 15.8 MAD to £1 sterling (approximately)
Source www.propertyborders.com
Morocco Facts info by Property Borders
Head of State: King Mohammed VI
Population: 31.6 million (UN, 2005)
Capital: Rabat
Area: 710,850 sq km (274,461 sq miles) (including W Sahara)
Major languages: Arabic (official), Berber, French, Spanish
Major religion: Islam
Life expectancy: 67 years (men), 72 years (women) (UN)
Monetary unit: Dirham:- £1 = 15.8dh
Main exports: Minerals, seafood products, citrus fruit
Internet domain: .ma
International Dialling code: +212
Location: Northern Africa, bordering the North Atlantic ocean, the Mediterranean Sea, between Algeria and Mauritania and 14 km from southern Spain.
Total Land Area: 710.850 Square kilometres.
Coastline: 2.900 km Atlantic coast - 500 km Mediterranean coast.
Population: 28,481,000
Language: Arabic (official), French, Berber dialects.
Entry requirements: Passport. ( Check passport validity and visa requirement for some countries).
Transportation: Railway network 1.893 km, Highways and paved roads 59.474 km.
Currency: 1 Moroccan Dirham = 100 centimes.
Electricity: 220/240 volts.
Driving: On the right side.
Airports: Agadir, Al Hociema, Casablanca, Dakhla, Essaouira, Fes, Laâyoune, Marrakech, Nador, Ouarzazate, Oujda, Rabat-Salé, Tangier and Tetouan.
Gastronomy: Moroccan cuisine is reputed to be one the top cuisine all over the world: Couscous, Mechoui, Pastilla, Tagines, pastries and the national drink, mint tea.
Climate: The climate varies according to the regions, the coast has a very mild climate in the summer and humid in the winter, average temperature from 16°C to 26°C. Inland is much warmer during the summer up to 33°C.
Source www.propertyborders.com
Population: 31.6 million (UN, 2005)
Capital: Rabat
Area: 710,850 sq km (274,461 sq miles) (including W Sahara)
Major languages: Arabic (official), Berber, French, Spanish
Major religion: Islam
Life expectancy: 67 years (men), 72 years (women) (UN)
Monetary unit: Dirham:- £1 = 15.8dh
Main exports: Minerals, seafood products, citrus fruit
Internet domain: .ma
International Dialling code: +212
Location: Northern Africa, bordering the North Atlantic ocean, the Mediterranean Sea, between Algeria and Mauritania and 14 km from southern Spain.
Total Land Area: 710.850 Square kilometres.
Coastline: 2.900 km Atlantic coast - 500 km Mediterranean coast.
Population: 28,481,000
Language: Arabic (official), French, Berber dialects.
Entry requirements: Passport. ( Check passport validity and visa requirement for some countries).
Transportation: Railway network 1.893 km, Highways and paved roads 59.474 km.
Currency: 1 Moroccan Dirham = 100 centimes.
Electricity: 220/240 volts.
Driving: On the right side.
Airports: Agadir, Al Hociema, Casablanca, Dakhla, Essaouira, Fes, Laâyoune, Marrakech, Nador, Ouarzazate, Oujda, Rabat-Salé, Tangier and Tetouan.
Gastronomy: Moroccan cuisine is reputed to be one the top cuisine all over the world: Couscous, Mechoui, Pastilla, Tagines, pastries and the national drink, mint tea.
Climate: The climate varies according to the regions, the coast has a very mild climate in the summer and humid in the winter, average temperature from 16°C to 26°C. Inland is much warmer during the summer up to 33°C.
Source www.propertyborders.com
Purchase Procedure info from Property Borders
Simply ring Property Borders and advise us of your chosen property. A holding deposit is required to take the property off the market and fix the price. This can be paid by Visa/Mastercard or in some circumstances a cheque.
The holding deposit is fully refundable for a period of 30 days, unless by prior agreement. This will give you sufficient time to visit Morocco to view. If you cannot visit during this period you will be expected to make your holding deposit definite, i.e. non-refundable. Alternatively, if you decide not to proceed your deposit will be refunded in full.
Once you have paid your initial holding deposit and confirmed that you wish to make your deposit definite, our associates will forward to you a contract setting out the conditions of purchase. The balance of your deposit is then paid to the relevant developer. Please note that contracts are only issued when initial deposits are made on a definite basis.
What happens after this stage will depend on which development you have purchased on. Some developers require no further payments until completion, whilst others request periodical payments whilst building is ongoing (ask us for further details)
Upon completion you will sign the mortgage agreement with the lending bank (only if taking the mortgage) and pay the closing costs (approx 5% of the total price in Morocco).
At this point you will receive the keys and the property is yours. Our associates will be on hand to assist you throughout the transaction - alternatively, if you do not wish to visit Morocco to complete, Power of Attorney can be given to your allocated lawyer who will arrange the completion on your behalf.
Source www.propertyborders.com
The holding deposit is fully refundable for a period of 30 days, unless by prior agreement. This will give you sufficient time to visit Morocco to view. If you cannot visit during this period you will be expected to make your holding deposit definite, i.e. non-refundable. Alternatively, if you decide not to proceed your deposit will be refunded in full.
Once you have paid your initial holding deposit and confirmed that you wish to make your deposit definite, our associates will forward to you a contract setting out the conditions of purchase. The balance of your deposit is then paid to the relevant developer. Please note that contracts are only issued when initial deposits are made on a definite basis.
What happens after this stage will depend on which development you have purchased on. Some developers require no further payments until completion, whilst others request periodical payments whilst building is ongoing (ask us for further details)
Upon completion you will sign the mortgage agreement with the lending bank (only if taking the mortgage) and pay the closing costs (approx 5% of the total price in Morocco).
At this point you will receive the keys and the property is yours. Our associates will be on hand to assist you throughout the transaction - alternatively, if you do not wish to visit Morocco to complete, Power of Attorney can be given to your allocated lawyer who will arrange the completion on your behalf.
Source www.propertyborders.com
Morocco Plan Azur / Vision 2010 info from Property Borders
King Mohammed VI launched the “Vision 2010” strategic tourist development program in January 2001, aiming to make Morocco one of the world’s premier tourist destinations with a target of 10 million visitors in 2010 and to create 600.000 new jobs.
Over the next five years Morocco will experience considerable change in line with Plan Azur. The government’s £2.2 billion strategy will increase tourism from approx 4.5 million visitors to 10 million visitors by 2010.
The infrastructure development program which underpins “Vision 2010” also implies and guarantees a high degree of convergence between the requirements for and Morocco’s commitment to top class standards. This strategy has already begun to bear fruit. Since the launch of “Vision 2010,” more than 20,000 new hotel beds have already come on the market and thousands of others have been renovated.
In 2010, Morocco will have more than 250,000 hotel beds, including 180,000 located in or around the cities. Under Plan Azur six new seaside resorts ( 5 on the Atlantic coast and 1 on the Med) will provide a total of more than 40,000 hotel beds.
Mediterranean Saidia, Saidia
The first of the Plan Azur developments to be launched and the only one on the Mediterranean coast. In total the development will cover 7.000.000 m2 and faces directly onto a 6km long sandy beach. There will be three 18 hole golf courses and a variety of 4* & 5* hotels, a 750 berth marina as well as a commercial centre with branded/designer shops. The development also features bars, restaurants, night clubs, private clinic, water parks and a spa and wellness centre whilst keeping 40% of the development a green zone.
Port Lixus, Larache
Located along the Atlantic coast near the town of Larache this development will feature two 18 hole golf courses designed by the Spaniard Enrique Saenger along with 4* & 5* hotels. The development will also benefit from beautiful residential villages and villas as well as a 120 berth marina. The second most important roman ruins in Morocco, Lixus, lie close by on the right bank of the river Lucus.
Other leisure activities include
* Equestrian centre
* Thalassotherapy centres
* Sports centre
* Craft village
Mogador, Essaouira
Located on the Atlantic coast in the area of Diabat this development will measure in the region of 5,700.000 m2. The main features of this development are sure to be the two Gary Player golf courses. One of 36 holes the other 18. The hotels, riads, villas, golf academy and practice course are laid out along the two spectacular courses facing the sea.
Mazagan, El Jadida
The future Plan Azur development of Mazagan (El Haouzia), being spearheaded by Kerzner group (Sun City – South Africa, Atlantis Beach – Bahamas) is located near El Jadida, This site includes three miles of beachfront along Morocco's Atlantic coast. Approximately an hour's drive from Casablanca, the site provides for easy access to-and-from Casablanca International Airport, which currently receives daily flights from 22 European cities. Access to the area is supported by a rail network as well.
The cost of this neighbouring project is estimated at $230 million and is expected to consist of a 600-room hotel, two 18-hole golf course, convention space, restaurants and a casino.
The site will be surrounded by eucalyptus trees and will cover an area of around 500 hectares.
Various water sports will be available along with general entertainment and a sports academy.
The project is expected to have an accommodation capacity of 7600 beds, including 3700 hotel beds.
The project is being developed by Kerzner and its local partners, Societe Maroc Emirates Arabs Unis de Developpement ("SOMED") and Caisse de Depot et de Gestion ("CDG"), they have collectively entered into an agreement with the Government of the Kingdom of Morocco (the "Government") for the development of a destination resort casino. In addition, the Company, SOMED and CDG have entered into an agreement in principle with respect to the ownership, development and management of this resort.
Taghazout, Agadir
Taghazout's site is located 15 km south of Agadir, the first seaside resort of the Kingdom, 300 km from Marrakech, the first cultural destination of the country and 170 km from the town of Essaouira .
The nearest airport to service this resort is the international airport of Al Massira in Agadir which is located 40km away
Taghazout's site is endowed with a semi-arid type climate, and it records a low level of rainfall: less than 40 days per year and more than 3000 hours of sunshine a year.
This new project will be developed by the Colony Capital/ Satocan / Lopesan Group.
The project will be equipped with 21000 beds. It will have also at its disposal two golf courses, a medina with business spaces, handicraft and different activities, a spa, a clinic (argano-therapy) and an institute of the argan tree.
Plage Blanche, Guelmim
The developer for this site is yet to be confirmed
Source www.propertyborders.com
Over the next five years Morocco will experience considerable change in line with Plan Azur. The government’s £2.2 billion strategy will increase tourism from approx 4.5 million visitors to 10 million visitors by 2010.
The infrastructure development program which underpins “Vision 2010” also implies and guarantees a high degree of convergence between the requirements for and Morocco’s commitment to top class standards. This strategy has already begun to bear fruit. Since the launch of “Vision 2010,” more than 20,000 new hotel beds have already come on the market and thousands of others have been renovated.
In 2010, Morocco will have more than 250,000 hotel beds, including 180,000 located in or around the cities. Under Plan Azur six new seaside resorts ( 5 on the Atlantic coast and 1 on the Med) will provide a total of more than 40,000 hotel beds.
Mediterranean Saidia, Saidia
The first of the Plan Azur developments to be launched and the only one on the Mediterranean coast. In total the development will cover 7.000.000 m2 and faces directly onto a 6km long sandy beach. There will be three 18 hole golf courses and a variety of 4* & 5* hotels, a 750 berth marina as well as a commercial centre with branded/designer shops. The development also features bars, restaurants, night clubs, private clinic, water parks and a spa and wellness centre whilst keeping 40% of the development a green zone.
Port Lixus, Larache
Located along the Atlantic coast near the town of Larache this development will feature two 18 hole golf courses designed by the Spaniard Enrique Saenger along with 4* & 5* hotels. The development will also benefit from beautiful residential villages and villas as well as a 120 berth marina. The second most important roman ruins in Morocco, Lixus, lie close by on the right bank of the river Lucus.
Other leisure activities include
* Equestrian centre
* Thalassotherapy centres
* Sports centre
* Craft village
Mogador, Essaouira
Located on the Atlantic coast in the area of Diabat this development will measure in the region of 5,700.000 m2. The main features of this development are sure to be the two Gary Player golf courses. One of 36 holes the other 18. The hotels, riads, villas, golf academy and practice course are laid out along the two spectacular courses facing the sea.
Mazagan, El Jadida
The future Plan Azur development of Mazagan (El Haouzia), being spearheaded by Kerzner group (Sun City – South Africa, Atlantis Beach – Bahamas) is located near El Jadida, This site includes three miles of beachfront along Morocco's Atlantic coast. Approximately an hour's drive from Casablanca, the site provides for easy access to-and-from Casablanca International Airport, which currently receives daily flights from 22 European cities. Access to the area is supported by a rail network as well.
The cost of this neighbouring project is estimated at $230 million and is expected to consist of a 600-room hotel, two 18-hole golf course, convention space, restaurants and a casino.
The site will be surrounded by eucalyptus trees and will cover an area of around 500 hectares.
Various water sports will be available along with general entertainment and a sports academy.
The project is expected to have an accommodation capacity of 7600 beds, including 3700 hotel beds.
The project is being developed by Kerzner and its local partners, Societe Maroc Emirates Arabs Unis de Developpement ("SOMED") and Caisse de Depot et de Gestion ("CDG"), they have collectively entered into an agreement with the Government of the Kingdom of Morocco (the "Government") for the development of a destination resort casino. In addition, the Company, SOMED and CDG have entered into an agreement in principle with respect to the ownership, development and management of this resort.
Taghazout, Agadir
Taghazout's site is located 15 km south of Agadir, the first seaside resort of the Kingdom, 300 km from Marrakech, the first cultural destination of the country and 170 km from the town of Essaouira .
The nearest airport to service this resort is the international airport of Al Massira in Agadir which is located 40km away
Taghazout's site is endowed with a semi-arid type climate, and it records a low level of rainfall: less than 40 days per year and more than 3000 hours of sunshine a year.
This new project will be developed by the Colony Capital/ Satocan / Lopesan Group.
The project will be equipped with 21000 beds. It will have also at its disposal two golf courses, a medina with business spaces, handicraft and different activities, a spa, a clinic (argano-therapy) and an institute of the argan tree.
Plage Blanche, Guelmim
The developer for this site is yet to be confirmed
Source www.propertyborders.com
Tax Incentives info from Property Borders
• 0% Annual property tax for the first 5 years.
• After this time the tax is based on the properties annual rental value and you will be taxed on 0%-30% of this.
• If the property is your full time residence or holiday home you are entitled to a 75% discount.
• 0% tax on rental income for the first 5 years
• After this period tax is levied at 13.5% of the annual rental income
• 0% capital gains tax if profit is under £40K or after 10 years of ownership.
• Otherwise Capital Gains Tax (TPI) is 20% of the profit, with a minimum of 3% of the sale price. Properties sold after more than 5 years ownership but less than 10 years are subject to TPI of 10% of any capital gain over 1 million Dh (approx £63,000).
• 0% inheritance tax when a property passes to a family member.
• Make things easier for your family in the event of your death by making a Moroccan will.
• 100% repatriation of funds when you sell
Source www.propertyborders.com
• After this time the tax is based on the properties annual rental value and you will be taxed on 0%-30% of this.
• If the property is your full time residence or holiday home you are entitled to a 75% discount.
• 0% tax on rental income for the first 5 years
• After this period tax is levied at 13.5% of the annual rental income
• 0% capital gains tax if profit is under £40K or after 10 years of ownership.
• Otherwise Capital Gains Tax (TPI) is 20% of the profit, with a minimum of 3% of the sale price. Properties sold after more than 5 years ownership but less than 10 years are subject to TPI of 10% of any capital gain over 1 million Dh (approx £63,000).
• 0% inheritance tax when a property passes to a family member.
• Make things easier for your family in the event of your death by making a Moroccan will.
• 100% repatriation of funds when you sell
Source www.propertyborders.com
Property Borders explains Investment in Morocco
• In January 2001, his majesty, King Mohammed VI initiated “Vision 2010” for Morocco’s tourism industry. A national program to create the infrastructure to host 10 million tourists by 2010. This plan includes 6 new luxury resorts with all the modern amenities that tourists expect.
• Building of the first tunnel linking Europe/Spain to Africa/Morocco by 2010.
• 11.9 million to be spent on new motorways and roads with over 1000 kilometers of new roads being laid
• Prestigious Projects being built by middle eastern investors, injecting billions of dollars into tourism projects such as golf courses, marinas, beach clubs and 5* hotels.
• Open skies agreement, signed recently with the EU, will open up the skies to allow no-frills/ low cost airlines to fly to Morocco.
• Free trade agreement between Morocco and USA which came into effect 2006. This is already having positive effects on the economy
• By 2010 Morocco expects to become part of the Euro-Med free trade zone and working towards a close relation with the EU. A significant development that will undoubtedly boost the economy further still.
• UAE investors are pouring 4.8 billion dollars into building real estate, shopping malls, airport and transport infrastructure and beach resorts.
• Booming property market with yearly price rises of between 20-30%
• No rental tax for the first five years of ownership (new properties)
• Capital Gains Tax (TPI) is 20% of the profit, with a minimum of 3% of the sale price. Properties sold after more than 10 years ownership are fully exempt from TPI. Properties sold after more than 5 years ownership but less than 10 years are subject to TPI of 10% of any capital gain over 1 million Dh (approx £63,000).
• Full repatriation of funds overseas in the event of a resale.
• Excellent, year round, rental opportunities with tourism increasing every year.
• Property Prices at least 50% lower than Spain, which is only 9 miles away.
• Plans for new high speed rail network linking major cities.
• Morocco in top five places to invest as stated by channel four real estate program.
• Secure investment, law based on French Notary system
• There is no inheritance tax if you leave your property to a family member
Source www.propertyborders.com
• Building of the first tunnel linking Europe/Spain to Africa/Morocco by 2010.
• 11.9 million to be spent on new motorways and roads with over 1000 kilometers of new roads being laid
• Prestigious Projects being built by middle eastern investors, injecting billions of dollars into tourism projects such as golf courses, marinas, beach clubs and 5* hotels.
• Open skies agreement, signed recently with the EU, will open up the skies to allow no-frills/ low cost airlines to fly to Morocco.
• Free trade agreement between Morocco and USA which came into effect 2006. This is already having positive effects on the economy
• By 2010 Morocco expects to become part of the Euro-Med free trade zone and working towards a close relation with the EU. A significant development that will undoubtedly boost the economy further still.
• UAE investors are pouring 4.8 billion dollars into building real estate, shopping malls, airport and transport infrastructure and beach resorts.
• Booming property market with yearly price rises of between 20-30%
• No rental tax for the first five years of ownership (new properties)
• Capital Gains Tax (TPI) is 20% of the profit, with a minimum of 3% of the sale price. Properties sold after more than 10 years ownership are fully exempt from TPI. Properties sold after more than 5 years ownership but less than 10 years are subject to TPI of 10% of any capital gain over 1 million Dh (approx £63,000).
• Full repatriation of funds overseas in the event of a resale.
• Excellent, year round, rental opportunities with tourism increasing every year.
• Property Prices at least 50% lower than Spain, which is only 9 miles away.
• Plans for new high speed rail network linking major cities.
• Morocco in top five places to invest as stated by channel four real estate program.
• Secure investment, law based on French Notary system
• There is no inheritance tax if you leave your property to a family member
Source www.propertyborders.com
Property Borders explains reasons to invest in booming Morocco
• Only 2 Hours 40 mins from UK.
• Fast ferry to Spains costa del sol takes only 35 mins.
• Time zone same as UK GMT.
• One of the best cuisines in the world and alcohol Served in bars and restaurants.
• Languages spoken Arabic, French, Spanish, English.
• Better climate than Spain Average temperature in north 19 degrees celsius.
• Booming Tourism Industry with Year round rental potential.
• Exotic, mystical culture
• Moorish Architecture at its best.
• Politically stable country with a pro western government encouraging foreign investment.
• 1,400 miles of Stunning beaches
• Great for sport lovers with top class golf courses, skiing, surfing and trekking available.
• Generosity and Hospitality is the backbone of the county.
• Morocco is a emerging market economy. With strong growth.
• Very cheap transport for travel in and out of cities.
• New infrastructure already under construction roads, marinas, airports, motorways, ports.
• Visionary innovative king promoting the country
• Yacht club and berth fees for under £27/month
• Low cost of living Enjoy luxury lifestyle for very little
• Morocco is a celebrity magnet. Famous home owners include Richard Branson, The Rolling Stones, The Beckhams, Yves Saint Laurent and Malcolm Forbes
Source www.propertyborders.com
• Fast ferry to Spains costa del sol takes only 35 mins.
• Time zone same as UK GMT.
• One of the best cuisines in the world and alcohol Served in bars and restaurants.
• Languages spoken Arabic, French, Spanish, English.
• Better climate than Spain Average temperature in north 19 degrees celsius.
• Booming Tourism Industry with Year round rental potential.
• Exotic, mystical culture
• Moorish Architecture at its best.
• Politically stable country with a pro western government encouraging foreign investment.
• 1,400 miles of Stunning beaches
• Great for sport lovers with top class golf courses, skiing, surfing and trekking available.
• Generosity and Hospitality is the backbone of the county.
• Morocco is a emerging market economy. With strong growth.
• Very cheap transport for travel in and out of cities.
• New infrastructure already under construction roads, marinas, airports, motorways, ports.
• Visionary innovative king promoting the country
• Yacht club and berth fees for under £27/month
• Low cost of living Enjoy luxury lifestyle for very little
• Morocco is a celebrity magnet. Famous home owners include Richard Branson, The Rolling Stones, The Beckhams, Yves Saint Laurent and Malcolm Forbes
Source www.propertyborders.com
About Morocco by Property Borders
The full Arabic name of the country translates to The Western Kingdom. Al Maghrib (meaning The West, Morocco is a country in northwest Africa. It has a long coastline on the Atlantic Ocean that reaches past the Strait of Gibraltar into the Mediterranean Sea.
The name Morocco in many other languages originates from the name of the former capital, Marrakech.
The Kingdom of Morocco recovered its political independence from France and spain on March 2 1956.
Morocco was the first nation to recognize the fledgling United States in 1777 and has the oldest non-broken friendship treaty with the country, the Moroccan-American Treaty of Friendship which has been in effect since 1783.
Morocco is a constitutional monarchy, with a popularly-elected parliament Most Moroccans are Sunni Muslims of Arab, Berber, or mixed Arab-Berber stock. The Arabs invaded Morocco in the 7th and 11th centuries and established their culture there.
Morocco is a country of contrasts, where only short drives out of modern city centres, leads you right into societies where large parts of the social fabrics remain intact from centuries back in time.
Morocco is in many ways a country apart. It nestles on the northwestern tip of Africa, separated from the rest of the continent by the towering Atlas Mountains and by the Sahara itself. Its climate, geography, and history are all more closely related to the Mediterranean than to the rest of Africa, and for this reason visitors are often struck by the odd sensation of having not quite reached Africa in Morocco. In the north, its fine beaches, lush highland valleys, and evocative old cities reinforce this impression. Yet, as one moves south and east, into and over the starkly beautiful ranges of the Atlases, Morocco's Mediterranean character melts away like a mirage. The Sahara stretches out to the horizon, and forbidding kasbahs stare at you in the face.
Source www.propertyborders.com
The name Morocco in many other languages originates from the name of the former capital, Marrakech.
The Kingdom of Morocco recovered its political independence from France and spain on March 2 1956.
Morocco was the first nation to recognize the fledgling United States in 1777 and has the oldest non-broken friendship treaty with the country, the Moroccan-American Treaty of Friendship which has been in effect since 1783.
Morocco is a constitutional monarchy, with a popularly-elected parliament Most Moroccans are Sunni Muslims of Arab, Berber, or mixed Arab-Berber stock. The Arabs invaded Morocco in the 7th and 11th centuries and established their culture there.
Morocco is a country of contrasts, where only short drives out of modern city centres, leads you right into societies where large parts of the social fabrics remain intact from centuries back in time.
Morocco is in many ways a country apart. It nestles on the northwestern tip of Africa, separated from the rest of the continent by the towering Atlas Mountains and by the Sahara itself. Its climate, geography, and history are all more closely related to the Mediterranean than to the rest of Africa, and for this reason visitors are often struck by the odd sensation of having not quite reached Africa in Morocco. In the north, its fine beaches, lush highland valleys, and evocative old cities reinforce this impression. Yet, as one moves south and east, into and over the starkly beautiful ranges of the Atlases, Morocco's Mediterranean character melts away like a mirage. The Sahara stretches out to the horizon, and forbidding kasbahs stare at you in the face.
Source www.propertyborders.com
Opodo touts Morocco as a top tourist destination in 2007 due to low cost flights August 7, 2006
July saw the first Moroccan low cost airline land in Marrakesh, in the form of Easyjets cheap flight from Gatwick, it marked a step up in gear for Morocco’s property market. Morocco has always enjoyed a higher tourism profile than other North African countries. In a survey released today by Opodo, a leading online travel website Morocco featured third on its Top 10 of travel destinations on the up for next year. As a rule, this is a good indicator of future property investment potential as the market establishes a holiday rental sector.
Morocco’s property potential is further highlighted by figures released by the Tourism Ministry that tourist arrivals to Morocco during the first five months of 2006 have registered a rise of 16% in comparison to the same period of last year. Some 2,090,000 tourists, including 696,000 Moroccan expatriates paid a visit to the North African kingdom in this period. The major Moroccan destinations of Meknes (centre), tourist activities increased 31%, Essaouira (west, +27%), Agadir (central west, +14%), Casablanca (+11%), Tangier (north, +9%), Rabat (+8%), and Marrakech (+6%) located on the northern edge of the Sahara. Tourism Minister Adil Douiri said he expected tourism revenue to be between 4.1bn euro (about $5.1bn) and 4.5bn euro for 2006, up from last year’s 3.7bn euro. This would make up 10 percent of expected GDP. The minister estimated that 6.5 million tourists would visit the country this year, 700,000 more than last year.
These positive increases can be attributed to an ‘Open skies agreement’ being signed by EU and Moroccan authorities to relax airspace regulations and allow any EU registered airline to operate between the EU and Morocco. The surge in increased visitors will only serve to increase ahead of new flight routes scheduled to operate from 2007. According to flight information provider, OAG, there were around 39 flights a week between London airports and Marrakesh before easyJet’s launch; once Ryanair and Thomsonfly get onboard there will be 99 flights a week between the two cities.
Jet 4 you is TUI’s brand new Morocco-based low cost airline which began flying in Feb 2006. At present it flies between Paris Orly and Morocco’s principal airports of Fez, Marrakesh and Agadir, but may expand to the UK. Morocco is the third most popular holiday destination for the French and it has inherited its legal, education and train systems modelled around those of the French.
Ryanair will commence flights to Fez and Marrakech from Frankfurt Hahn airport in Germany, as well as two new routes from London from the end of October, 2006. Europe’s largest low cost airline will also fly from its new base at Marseilles airport in France to Fez, Marrakech and Oujda airports in Morocco.
British Airways has operated flights from London Gatwick airport to three cities in Morocco: Fez, Marrakech, Agadir for sometime and its low cost web fares are popular with Brits. BA through subidiary GB Airways has introduced a twice-daily service to Marrakech from London Heathrow along with a daily service to Casablanca and a twice-weekly service to Fez. The airline will also continue to run a twice-weekly service to Agadir from London Gatwick. The substantial flight increase to Morocco from the UK start this winter, offering UK passnegers a total of 32 weekly flights to Morocco, increasing its pull as a popular short-haul winter sun destination.
North Africa’s first low cost airline, Atlas Blue (part of Royal air Maroc)operates out of six Moroccan airports - not only from the two most popular airports, Marrakech Menara and Agadir Al Massira, but also from Tanger and Al Hoceima in the north of Morocco and from Nador and Oujda in the east. The low fare subsidiary of Royal Air Maroc flies to numerous destinations in France and also to Milan in Italy, Geneva in Switzerland, Brussels in Belgium, Amsterdam in the Netherlands and to London Gatwick in the UK.
With several upgrades airport and plans for new airports in Tangier and Tetouan, other low cost airlines such as Monarch and Thompson are rumoured to have signed up to various Moroccan airports. On the back of these new flight agreements, flag carrier Royal Air Maroc has committed to increasing its fleet by 50% in 2007. Moroccan Property investment is on the up and tapping undiscovered locations and growing resorts as result of increased tourism offerings is a good bet so watch out for Part Two later on in the week on new off plan projects being launched in Morocco.
Morocco’s property potential is further highlighted by figures released by the Tourism Ministry that tourist arrivals to Morocco during the first five months of 2006 have registered a rise of 16% in comparison to the same period of last year. Some 2,090,000 tourists, including 696,000 Moroccan expatriates paid a visit to the North African kingdom in this period. The major Moroccan destinations of Meknes (centre), tourist activities increased 31%, Essaouira (west, +27%), Agadir (central west, +14%), Casablanca (+11%), Tangier (north, +9%), Rabat (+8%), and Marrakech (+6%) located on the northern edge of the Sahara. Tourism Minister Adil Douiri said he expected tourism revenue to be between 4.1bn euro (about $5.1bn) and 4.5bn euro for 2006, up from last year’s 3.7bn euro. This would make up 10 percent of expected GDP. The minister estimated that 6.5 million tourists would visit the country this year, 700,000 more than last year.
These positive increases can be attributed to an ‘Open skies agreement’ being signed by EU and Moroccan authorities to relax airspace regulations and allow any EU registered airline to operate between the EU and Morocco. The surge in increased visitors will only serve to increase ahead of new flight routes scheduled to operate from 2007. According to flight information provider, OAG, there were around 39 flights a week between London airports and Marrakesh before easyJet’s launch; once Ryanair and Thomsonfly get onboard there will be 99 flights a week between the two cities.
Jet 4 you is TUI’s brand new Morocco-based low cost airline which began flying in Feb 2006. At present it flies between Paris Orly and Morocco’s principal airports of Fez, Marrakesh and Agadir, but may expand to the UK. Morocco is the third most popular holiday destination for the French and it has inherited its legal, education and train systems modelled around those of the French.
Ryanair will commence flights to Fez and Marrakech from Frankfurt Hahn airport in Germany, as well as two new routes from London from the end of October, 2006. Europe’s largest low cost airline will also fly from its new base at Marseilles airport in France to Fez, Marrakech and Oujda airports in Morocco.
British Airways has operated flights from London Gatwick airport to three cities in Morocco: Fez, Marrakech, Agadir for sometime and its low cost web fares are popular with Brits. BA through subidiary GB Airways has introduced a twice-daily service to Marrakech from London Heathrow along with a daily service to Casablanca and a twice-weekly service to Fez. The airline will also continue to run a twice-weekly service to Agadir from London Gatwick. The substantial flight increase to Morocco from the UK start this winter, offering UK passnegers a total of 32 weekly flights to Morocco, increasing its pull as a popular short-haul winter sun destination.
North Africa’s first low cost airline, Atlas Blue (part of Royal air Maroc)operates out of six Moroccan airports - not only from the two most popular airports, Marrakech Menara and Agadir Al Massira, but also from Tanger and Al Hoceima in the north of Morocco and from Nador and Oujda in the east. The low fare subsidiary of Royal Air Maroc flies to numerous destinations in France and also to Milan in Italy, Geneva in Switzerland, Brussels in Belgium, Amsterdam in the Netherlands and to London Gatwick in the UK.
With several upgrades airport and plans for new airports in Tangier and Tetouan, other low cost airlines such as Monarch and Thompson are rumoured to have signed up to various Moroccan airports. On the back of these new flight agreements, flag carrier Royal Air Maroc has committed to increasing its fleet by 50% in 2007. Moroccan Property investment is on the up and tapping undiscovered locations and growing resorts as result of increased tourism offerings is a good bet so watch out for Part Two later on in the week on new off plan projects being launched in Morocco.
King visits Plan Azur site of Saïdia
His Majesty King Mohammed VI proceeded yesterday to Saïdia, to the launch of several projects of urban and tourist upgrade of the city, whose realization will require a global cost of the order of 369 million DH The Sovereign also chaired the ceremony of an agreement concerning the project of purification of the city centre of Saïdia and the tourist complex (20 million DH), the organization of the promenade of Saïdia (74 million DH) and the project of organization of the entrances to the city (21 million DH). The signature of this agreement intervenes in application of the High Royal orientations contained in the speech pronounced on March 18th 2003 in Oujda, aiming at the development of the Eastern Region and at the creation of a new tourist station at Saïdia. It translates the interest which takes on the operation of urban upgrade of this city, considered as a tourist area par excellence because it will have one of the largest national sea resorts within the framework of the “Vision 2010”. The agreement was signed by the Minister of Tourism, the delegate in charge of the Environment and the Town planning, the Head office of Local governments, Wilaya of the Eastern Region , council of the Eastern Region, province of Berkane, the Agency of Development of Provinces and Prefecture of the Eastern Region l, ONEP and municipality of Saïdia. Involving the project of purification of the city center of Saïdia and the tourist complex, which consists of the construction of a network of waste water and rain water drainage 70 km in length and of 5 pumping plants. The first section of this project, which will benefit a population of 130.000 inhabitants, will require a budget of the order of 20 million DH. The financing of this project is assured by the National Office of Water and the group FADESA. As for the project of organization of the entrances of the city of Saïdia, it concerns the doubling of the provincial road 6.000 (south entrance of the city on a 2 km length) and the main road N 16 (entered by the city northwest side on a 3 km length). This project, which will mobilize investments of the order of 21 million DH, also foresees the creation of a new connection between the provincial road 6.000 and the loop road on a distance of 1,5 km. The works of this project will begin in mid-January and to end at about July 2007. The project of development of the promenade of Saïdia and the restoration of Kasba project, among others, the development of green spaces (adaptation of palm trees oasis), the lighting of the promenade (lampposts) and the provision of pavilions, showers, sporting areas etc. H.M. The King also followed explanations on the project of construction of the way of drainage and a canal of protection of the city of Saïdia and the new tourist resort of the city against the floods 17 km in length. This project will be realized by the Ministry in charge of Water resources. At an overall cost of 254 million DH, this project, the duration of execution of which is of 18 months, will be financed by the Fund of Hassan II for the economic and social development and the Ministry of Tourism, Crafts and Social Economy. The project will allow to facilitate the access to the tourist resort of Saïdia, to attract more tourist investments and to strengthen the road juncture between Ahfir-Saïdia and Oujda-Ahfir. In his arrival, H.M. The King reviewed a detachment of the Royal Guard who returned the honors before being greeted by Karim Ghellab, Minister of Equipment and Transport, Adil Douiri, Minister of Tourism, Craft and Social Economy, Toufiq Hjira, Minister of State in charge of the Environment and the Town planning and Abbdelkébir Zahoud, Secretary of State for Water. The Sovereign was also greeted by the general manager of local governments, the wali of the Eastern Region and the governor of the prefecture of Oujda-Angad, the general manager of the Agency of development of the Eastern Region, the governor of the province of Berkane, the president of council of the region, the municipal president of council, the general manager of the ONEP, the director of the regional Office of agricultural development, the elected members, representatives of the local authorities and by other personalities.
Tuesday 23 January 2007
Moroccan property show to be held in London
The 1st Morocco Property Show and Lifestyle will be held next June 1st to 3rd at the Selfridge Hotel in downtown London (Orchard Street at Oxford Street).This event will gather real estate professionals from Morocco, the UK and Spain who have in common the development and/or sale of property in Morocco.A booming property market over the last 5 years or so, Morocco is also attracting a great deal of interest from European but also Arab investors from Dubaï, Bahrein and Qatar;Our company Malabata Presse based in Tangier, Morocco since 192 is proud to organize this event and to contribute to the improvement of business and human ties between the UK and Morocco.More details on : http://www.moroccopropertyshow.com/ ,
6 million tourist visit Morocco in 2006
Rabat, Jan. 10 - Some 6.4 million tourists visited Morocco in 2006 compared to 4.4 million in 2002, revealed, here Tuesday, tourism minister Adil Douiri.
Speaking at the House of Advisors' question time, the minister underlined that the number of night guests increased by 10% in 2006, deeming that advertisement is an essential tool to accompany the investors' efforts aiming to promote their products.
He recalled that the government has taken a series of measures to promote tourism product through allotting it USD 6Mn every year, besides the budget destined to hotels and sector professionals.
Morocco has elaborated a strategy, dubbed "Vision 2010", that aspires to attract 10 million tourists by 2010. This strategy also aims to create 160,000 beds, bringing the national capacity to 230,000 beds and to create some 600,000 new job opportunities.
The Vision is meant to diversify the tourism product, develop training and partnership in the air transport and other related tourism fields and increase tourism contribution in GDP by 8.5% annually to reach 20% by 2010.
Source Map
Speaking at the House of Advisors' question time, the minister underlined that the number of night guests increased by 10% in 2006, deeming that advertisement is an essential tool to accompany the investors' efforts aiming to promote their products.
He recalled that the government has taken a series of measures to promote tourism product through allotting it USD 6Mn every year, besides the budget destined to hotels and sector professionals.
Morocco has elaborated a strategy, dubbed "Vision 2010", that aspires to attract 10 million tourists by 2010. This strategy also aims to create 160,000 beds, bringing the national capacity to 230,000 beds and to create some 600,000 new job opportunities.
The Vision is meant to diversify the tourism product, develop training and partnership in the air transport and other related tourism fields and increase tourism contribution in GDP by 8.5% annually to reach 20% by 2010.
Source Map
King launches double-deck trains in Fès
Property Borders News Article
Fès, Jan. 18 - King Mohammed VI launched, on Thursday from the central city of Fès, double-deck trains that are to be used in Moroccan railroads network.
Twenty-four double-deck trains were purchased by Morocco for a global sum of USD 233Mn to respond to the increasing demand for this means of transportation and improve the travel quality.
The sovereign also launched large-scale railroad projects, consisting in building a new train station and duplicating the Fès-Meknès track.
The construction works of the USD 7Mn new station of Fès are expected to last for 18 months, whereas the Fès-Meknès track duplication on 57 Km will cost USD 151 Mn.
A total of USD 1.8Bn was earmarked by the Office National des Chemins de Fer (ONCF) to these major projects that will be carried out over 2005-2009. This ambitious investment program aims at increasing the efficiency of railroad services and boosting social and economic conditions.
Later on, King Mohammed launched the second phase of liquid sanitation network upgrading, worth USD 2.3Mn, and has enquired about the progress of a USD 81.7Mn water purification station.
This station, which will be operational by the end of 2009, will contribute to enhance river water quality and to strengthen the current purification stations network.
Fès, Jan. 18 - King Mohammed VI launched, on Thursday from the central city of Fès, double-deck trains that are to be used in Moroccan railroads network.
Twenty-four double-deck trains were purchased by Morocco for a global sum of USD 233Mn to respond to the increasing demand for this means of transportation and improve the travel quality.
The sovereign also launched large-scale railroad projects, consisting in building a new train station and duplicating the Fès-Meknès track.
The construction works of the USD 7Mn new station of Fès are expected to last for 18 months, whereas the Fès-Meknès track duplication on 57 Km will cost USD 151 Mn.
A total of USD 1.8Bn was earmarked by the Office National des Chemins de Fer (ONCF) to these major projects that will be carried out over 2005-2009. This ambitious investment program aims at increasing the efficiency of railroad services and boosting social and economic conditions.
Later on, King Mohammed launched the second phase of liquid sanitation network upgrading, worth USD 2.3Mn, and has enquired about the progress of a USD 81.7Mn water purification station.
This station, which will be operational by the end of 2009, will contribute to enhance river water quality and to strengthen the current purification stations network.
The Pre Release Condo Hotel suites at Port Lixus sold out
Property Borders News Article
The Pre Release Condo Hotel suites at Port Lixus sold out
Pre-Launch hotel suites SOLD OUT at Condo Hotel Port Lixus
news date 22/01/07
Property Borders the UK'S 1st Moroccan owned property agency are pleased to announce that the Pre-Launch sales phase at Port Lixus Larache is now over and all discounted units are now reserved at the new Plan Azur development, Condo Hotel Port Lixus. The developer is now finalizing the upcoming Launch Offer and we urge any interested clients to register details at enquiries@propertyborders.com
in advance of the next release.
Please stay tuned for further details coming in the very near future from Property Borders.
The Pre Release Condo Hotel suites at Port Lixus sold out
Pre-Launch hotel suites SOLD OUT at Condo Hotel Port Lixus
news date 22/01/07
Property Borders the UK'S 1st Moroccan owned property agency are pleased to announce that the Pre-Launch sales phase at Port Lixus Larache is now over and all discounted units are now reserved at the new Plan Azur development, Condo Hotel Port Lixus. The developer is now finalizing the upcoming Launch Offer and we urge any interested clients to register details at enquiries@propertyborders.com
in advance of the next release.
Please stay tuned for further details coming in the very near future from Property Borders.
Sunday 21 January 2007
2007 - A boom year for Moroccan property?
Source Property Borders
For a long time the major interest in Moroccan property was from Spain and France. Now that is changing. According to many of the major players the Irish and English are rivaling the traditional markets.
There are some interesting patterns emerging. One is that the French seem particularly interested in the South of the country - Marrakech and the region around Essaouira. English interest appears to span the country with the market divided between those looking to purchase and restore houses in the Fez Medina or (to a far lesser extent) Marrakech and those with a lifestyle investment heading to the coastal areas including Asilah and the newer developments around Tangiers.
The Spanish buyers of Moroccan property are opting to save on travel expenses and remain close to the North, with areas such as Tangiers, Larache and Asilah being of particular interest.
As we have written in earlier articles, Tangiers in the process of revitalizing itself with a new marina, luxury hotels, beachfront residential developments, restaurants and nightclubs.
Where are the Americans?
For those whose prime objective is capital gain, 2007 would appear to be the year to get into the market. Yet, the Americans seem very slow to catch on to what is happening in Morocco. Although there are Americans getting involved, the numbers are far below that of the British, Irish, French or Spanish.
While distance and recent political events may go some way to explaining the American attitude, property experts also point to the generally low level of knowledge about Morocco amongst the American public. Yet further south, in South America, interest is growing.
In a recent press release, Mustapha Mezouri one of the directors of the English company, Property Borders said - "This year we have seen the market expand in the UK & overseas with buyers contacting us from as far afield as South America. We have also sold property to clients from China and Australia. As an Arabic/English speaking agency we have had much interest from Middle Eastern countries who are aware of the property boom in Morocco and have followed their respective governments who are heavily investing their oil wealth in this emerging nation."
When Property Borders launched the Alcudia Smir resort close to the prestigious Marina Smir area it had a phenomenal response from buyers with the first phase of properties selling out in under 2 months.
"The second phase will be released shortly" says Mezouri "and we are expecting just as much a frenzy as the first phase of Alcudia Smir was". The Paradise Golf and Beach Resort has proved very popular for investors and 2nd home buyers, it is located on the outskirts of Tangiers in a peaceful scenic environment. It is only 10 minutes from Tangier International Airport which is currently being extended in preparation for the surge of tourists & the expected arrival of the low cost carriers like Monarch Airlines and Easy Jet.
It would seem that 2007 may well be a boom year. How long it lasts is another question.
Source Property Borders
For a long time the major interest in Moroccan property was from Spain and France. Now that is changing. According to many of the major players the Irish and English are rivaling the traditional markets.
There are some interesting patterns emerging. One is that the French seem particularly interested in the South of the country - Marrakech and the region around Essaouira. English interest appears to span the country with the market divided between those looking to purchase and restore houses in the Fez Medina or (to a far lesser extent) Marrakech and those with a lifestyle investment heading to the coastal areas including Asilah and the newer developments around Tangiers.
The Spanish buyers of Moroccan property are opting to save on travel expenses and remain close to the North, with areas such as Tangiers, Larache and Asilah being of particular interest.
As we have written in earlier articles, Tangiers in the process of revitalizing itself with a new marina, luxury hotels, beachfront residential developments, restaurants and nightclubs.
Where are the Americans?
For those whose prime objective is capital gain, 2007 would appear to be the year to get into the market. Yet, the Americans seem very slow to catch on to what is happening in Morocco. Although there are Americans getting involved, the numbers are far below that of the British, Irish, French or Spanish.
While distance and recent political events may go some way to explaining the American attitude, property experts also point to the generally low level of knowledge about Morocco amongst the American public. Yet further south, in South America, interest is growing.
In a recent press release, Mustapha Mezouri one of the directors of the English company, Property Borders said - "This year we have seen the market expand in the UK & overseas with buyers contacting us from as far afield as South America. We have also sold property to clients from China and Australia. As an Arabic/English speaking agency we have had much interest from Middle Eastern countries who are aware of the property boom in Morocco and have followed their respective governments who are heavily investing their oil wealth in this emerging nation."
When Property Borders launched the Alcudia Smir resort close to the prestigious Marina Smir area it had a phenomenal response from buyers with the first phase of properties selling out in under 2 months.
"The second phase will be released shortly" says Mezouri "and we are expecting just as much a frenzy as the first phase of Alcudia Smir was". The Paradise Golf and Beach Resort has proved very popular for investors and 2nd home buyers, it is located on the outskirts of Tangiers in a peaceful scenic environment. It is only 10 minutes from Tangier International Airport which is currently being extended in preparation for the surge of tourists & the expected arrival of the low cost carriers like Monarch Airlines and Easy Jet.
It would seem that 2007 may well be a boom year. How long it lasts is another question.
Source Property Borders
www.propertyborders.com
Why Property Borders?
The UK’s first Moroccan owned Property Agency….
Property Borders are the longest established Moroccan property experts in the UK.
We aspire to the highest level of service and standards. For this reason we are members of FOPDAC Federation of Overseas Property Developers, Agents & Consultants. Membership of the Federation is restricted to companies or individuals whose probity is beyond reasonable question. The individual principals must have the experience and professional expertise to meet the strict criteria set in the Federation's Code of Ethics
Recommendations
We are recommended by the Moroccan Tourist Office and the Moroccan Embassy for our expert knowledge of Morocco. Our linguistic skills also enable us to have a close working relationship with the Moroccan authorities.
Official Plan Azur Agents
Property Borders are official agents/promoters of all the Plan Azur/Vision 2010 developments including our next launches of Port Lixus and Mogador.
Staff orientation trips
Property Borders sends its entire staff on regular visits to the sites we are promoting and on regular cultural visits to Morocco. Unlike many of our competitors this enables our staff to be familiar with the properties we are selling and the country as a whole.
Property Borders is an independent agency
Unlike many agents who work solely with one or two developers, Property Borders offer a wide range of properties which have all been researched for their potential growth in this dynamic market. Full due diligence is always carried out.
Public Relations
As we are a Moroccan run agency, Property Borders is regularly asked to feature in national press and overseas property magazines. We have also contributed to television programmes based on buying property in Morocco.
No hard sales techniques
Property Borders prides itself on its “no hard sales” policy. Our past experience has shown that our portfolio of quality properties go a long way to selling themselves.
Moroccan hospitality with British professionalism
As Moroccans we genuinely care about Morocco and the long term benefits the country will experience through FDI (foreign direct investment).
One stop shop
Property Borders offers a complete solution for buyers. We put our clients in touch with professional developers and associates. We offer advice on where to purchase properties in up and coming areas for maximum investment growth. We can refer you to recommended notaires and solicitors. We can assist you in opening a Moroccan bank account and obtaining a mortgage. We offer advice on buying or selling resale property.
The UK’s first Moroccan owned Property Agency….
Property Borders are the longest established Moroccan property experts in the UK.
We aspire to the highest level of service and standards. For this reason we are members of FOPDAC Federation of Overseas Property Developers, Agents & Consultants. Membership of the Federation is restricted to companies or individuals whose probity is beyond reasonable question. The individual principals must have the experience and professional expertise to meet the strict criteria set in the Federation's Code of Ethics
Recommendations
We are recommended by the Moroccan Tourist Office and the Moroccan Embassy for our expert knowledge of Morocco. Our linguistic skills also enable us to have a close working relationship with the Moroccan authorities.
Official Plan Azur Agents
Property Borders are official agents/promoters of all the Plan Azur/Vision 2010 developments including our next launches of Port Lixus and Mogador.
Staff orientation trips
Property Borders sends its entire staff on regular visits to the sites we are promoting and on regular cultural visits to Morocco. Unlike many of our competitors this enables our staff to be familiar with the properties we are selling and the country as a whole.
Property Borders is an independent agency
Unlike many agents who work solely with one or two developers, Property Borders offer a wide range of properties which have all been researched for their potential growth in this dynamic market. Full due diligence is always carried out.
Public Relations
As we are a Moroccan run agency, Property Borders is regularly asked to feature in national press and overseas property magazines. We have also contributed to television programmes based on buying property in Morocco.
No hard sales techniques
Property Borders prides itself on its “no hard sales” policy. Our past experience has shown that our portfolio of quality properties go a long way to selling themselves.
Moroccan hospitality with British professionalism
As Moroccans we genuinely care about Morocco and the long term benefits the country will experience through FDI (foreign direct investment).
One stop shop
Property Borders offers a complete solution for buyers. We put our clients in touch with professional developers and associates. We offer advice on where to purchase properties in up and coming areas for maximum investment growth. We can refer you to recommended notaires and solicitors. We can assist you in opening a Moroccan bank account and obtaining a mortgage. We offer advice on buying or selling resale property.
Emaar unveils Dh4.5 billion Bahia Bay project in Morocco
BY A STAFF REPORTER
DUBAI — Emaar Properties, and ONA Group, the Moroccan industrial and financial group, yesterday unveiled its second international venture in Morocco - Bahia Bay. The Dh 4.5 billion ($1.2 billion) project will see the joint venture develop a large-scale residential golfing community along the picturesque Moroccan coast.
In close proximity to Casablanca, the 530-hectare development will combine all the benefits of an Emaar golfing community along with the advantages of a coastal location. This announcement closely follows the venture's first project launch last month in Morocco - Amelkis II, the luxury residential golfing complex in Marrakech which allows individual buyers to purchase plots of land and design and build their ideal home.
Mohamed Ali Alabbar, Chairman Emaar Properties said: "Situated along the breathtaking Moroccan coast, Bahia Bay is a unique development in an idyllic setting. Following the success of our existing golfing communities in Dubai - Arabian Ranches and Emirates Hills - the Bahia Bay community will become a flagship development for Emaar's expansion in the North Africa region." Residential units in the Bahia Bay project will range from luxury villas and spacious semi-detached houses to townhouses and apartments with views overlooking the golf course and spectacular views of the Atlantic Ocean.
The development will also feature a beach hotel, golf hotel, beach clubs, equestrian facilities, retail and entertainment and a community and recreation centre making Bahia Bay an ideal location for residents and visitors alike. The development is expected to be completed in five years.
This latest announcement sees the continuation of Emaar's roll out strategy of undertaking prestigious master-planned residential developments in strategic locations - whether in the heart of the city or coastal picturesque locations. As it bids to consolidate its position as the world's premier property developer, Emaar continues to provide buyers with quality lifestyle projects and shareholders with value.
Morocco is a significant part of Emaar's international expansion plans. Already we have seen the great potential in the Moroccan market with our Amelkis II development. Not only will this project benefit the people of Morocco, but it will also boost tourism within the area. Our mission is to offer our customers world-class communities - constantly integrating parks, landscaped areas and retail centres into master-planned themed lifestyles, added Alabbar.
With rock pools and breakwaters to help create sandy white beaches and an array of water sports and leisure options provided by the beach clubs, the latest Emaar offering in Morocco makes the most of the beautiful coastal views and surrounding natural beauty. Golfing facilities provide residents with the perfect opportunity to improve their golf as well as making the most of the relaxed and friendly clubhouse.
Located in close proximity to the Casablanca/Rabat coastal freeway, Bahia Bay is within easy reach of both major cities and is the ideal getaway for those in search of a premier luxurious lifestyle. Extensively landscaped with an array of indigenous plants and featuring picturesque water features, expansive open parks and a world-class golf course, the lifestyle offering is beyond comparison.
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Emaar plans for USD 1.2 billion Moroccan project
27-Nov-2005
Emaar Properties, the largest dubai based real estate developer in the world in terms of market capitalization and ONA Group, the leading Moroccan industrial and financial group, has plans for a USD 1.2 billion project in Morocco - Bahia Bay. This will be a large scale residential golfing community along the picturesque Moroccan coast expected to be completed within 5 years.
Bahia Bay
In close proximity to Casablanca, the 530 hectare development will combine all the benefits of an Emaar golfing community along with the advantages of a coastal location. This announcement closely follows the ventures first project launch last month in Morocco - Amelkis II, the luxury residential golfing complex in Marrakech which allows individual buyers to purchase plots of land and design and build their ideal home.
Mr Mohamed Ali Alabbar, Chairman Emaar Properties said: "Situated along the breathtaking Moroccan coast, Bahia Bay is a unique development in an idyllic setting. Following the success of our existing golfing communities in Dubai - Arabian Ranches and Emirates Hills - the Bahia Bay community will become a flagship development for Emaar's expansion in the North Africa region."
Residential units in the Bahia Bay project will range from luxury villas and spacious semi-detached houses to townhouses and apartments with views overlooking the golf course and spectacular views of the Atlantic Ocean.
The development will also feature a beach hotel, golf hotel, beach clubs, equestrian facilities, retail and entertainment and a community and recreation centre making Bahia Bay an ideal location for residents and visitors alike.
DUBAI — Emaar Properties, and ONA Group, the Moroccan industrial and financial group, yesterday unveiled its second international venture in Morocco - Bahia Bay. The Dh 4.5 billion ($1.2 billion) project will see the joint venture develop a large-scale residential golfing community along the picturesque Moroccan coast.
In close proximity to Casablanca, the 530-hectare development will combine all the benefits of an Emaar golfing community along with the advantages of a coastal location. This announcement closely follows the venture's first project launch last month in Morocco - Amelkis II, the luxury residential golfing complex in Marrakech which allows individual buyers to purchase plots of land and design and build their ideal home.
Mohamed Ali Alabbar, Chairman Emaar Properties said: "Situated along the breathtaking Moroccan coast, Bahia Bay is a unique development in an idyllic setting. Following the success of our existing golfing communities in Dubai - Arabian Ranches and Emirates Hills - the Bahia Bay community will become a flagship development for Emaar's expansion in the North Africa region." Residential units in the Bahia Bay project will range from luxury villas and spacious semi-detached houses to townhouses and apartments with views overlooking the golf course and spectacular views of the Atlantic Ocean.
The development will also feature a beach hotel, golf hotel, beach clubs, equestrian facilities, retail and entertainment and a community and recreation centre making Bahia Bay an ideal location for residents and visitors alike. The development is expected to be completed in five years.
This latest announcement sees the continuation of Emaar's roll out strategy of undertaking prestigious master-planned residential developments in strategic locations - whether in the heart of the city or coastal picturesque locations. As it bids to consolidate its position as the world's premier property developer, Emaar continues to provide buyers with quality lifestyle projects and shareholders with value.
Morocco is a significant part of Emaar's international expansion plans. Already we have seen the great potential in the Moroccan market with our Amelkis II development. Not only will this project benefit the people of Morocco, but it will also boost tourism within the area. Our mission is to offer our customers world-class communities - constantly integrating parks, landscaped areas and retail centres into master-planned themed lifestyles, added Alabbar.
With rock pools and breakwaters to help create sandy white beaches and an array of water sports and leisure options provided by the beach clubs, the latest Emaar offering in Morocco makes the most of the beautiful coastal views and surrounding natural beauty. Golfing facilities provide residents with the perfect opportunity to improve their golf as well as making the most of the relaxed and friendly clubhouse.
Located in close proximity to the Casablanca/Rabat coastal freeway, Bahia Bay is within easy reach of both major cities and is the ideal getaway for those in search of a premier luxurious lifestyle. Extensively landscaped with an array of indigenous plants and featuring picturesque water features, expansive open parks and a world-class golf course, the lifestyle offering is beyond comparison.
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Emaar plans for USD 1.2 billion Moroccan project
27-Nov-2005
Emaar Properties, the largest dubai based real estate developer in the world in terms of market capitalization and ONA Group, the leading Moroccan industrial and financial group, has plans for a USD 1.2 billion project in Morocco - Bahia Bay. This will be a large scale residential golfing community along the picturesque Moroccan coast expected to be completed within 5 years.
Bahia Bay
In close proximity to Casablanca, the 530 hectare development will combine all the benefits of an Emaar golfing community along with the advantages of a coastal location. This announcement closely follows the ventures first project launch last month in Morocco - Amelkis II, the luxury residential golfing complex in Marrakech which allows individual buyers to purchase plots of land and design and build their ideal home.
Mr Mohamed Ali Alabbar, Chairman Emaar Properties said: "Situated along the breathtaking Moroccan coast, Bahia Bay is a unique development in an idyllic setting. Following the success of our existing golfing communities in Dubai - Arabian Ranches and Emirates Hills - the Bahia Bay community will become a flagship development for Emaar's expansion in the North Africa region."
Residential units in the Bahia Bay project will range from luxury villas and spacious semi-detached houses to townhouses and apartments with views overlooking the golf course and spectacular views of the Atlantic Ocean.
The development will also feature a beach hotel, golf hotel, beach clubs, equestrian facilities, retail and entertainment and a community and recreation centre making Bahia Bay an ideal location for residents and visitors alike.
THE PARADISE BEACH & GOLF RESORT
THE PARADISE BEACH & GOLF RESORT IS GOING TO BE ONE OF THE MOST IMPORTANT TOURISTIC DEVELOPMENTS IN NORTHERN MOROCCO. PHASE 1 WILL HAVE 500 LOW-RISE APARTMENTS AND TWO HUNDRED 3 BED 2 BATH DETACHED VILLAS ALL WITH INDIVIDUAL SWIMMING POOLS.
AN 18 HOLE GOLF COURSE WILL BE INCORPORATED WITHIN THE DEVELOPMENT. THE APARTMENTS & VILLAS WILL BE CONSTRUCTED ON GENTLY SLOPING LAND - THUS GIVING MOST PROPERTIES AT PARADISE BEACH & GOLF RESORT VIEWS TO THE SEA.
THE SITE IS IN AN AREA OF GREAT NATURAL BEAUTY AND BORDERS THE FORET DIPLOMATIQUE. A STROLL AROUND THE GOLF COURSE ACCESSES A VIRGIN BEACH OF GOLDEN SANDS. JUST 15 MINUTES DRIVE FROM TANGIERS AND THE AIRPORT IN ONE DIRECTION AND 15 MINUTES OR SO IN THE OPPOSITE DIRECTION TO THE PRETTY FISHING VILLAGE OF ASILAH.
Full Description: PARADISE BEACH & GOLF RESORT PRE-LAUNCH OFFER
1 bed apartments, approx 70 m² including terrace
607.750 Dirhams (£38,465 @ 15.8 Dh/£) Deposit £15,386 balance by mortgage.
2 bed/2 bath ground floor apartments, approx 90 m² including terrace
828.750 Dirhams (£52,452 @ 15.8 Dh/£) Deposit £20,981 balance by mortgage.
2 bed/2 bath penthouse apartments, approx 90 m² including terrace, plus roof terrace
994.500 Dirhams (£62,943 @ 15.8 Dh/£) Deposit £25,177 balance by mortgage.
3 bed/2 bath penthouse apartments, approx 116 m² including terrace, plus roof terrace
1,326.000 Dirhams (£83,924 @ 15.8 Dh/£) Deposit £33,570 balance by mortgage.
Apartments will be in small blocks, 2 storeys high. Ground floor apartments, plus first floor penthouses with access to a flat rooftop sun terrace.
3 bed/2 bath detached villas with private pool (approx 7mx3m)
approx 135 m² including terrace plus 400 m² plot
2,210.000 Dirhams (£139,873 @ 15.8 Dh/£) Deposit £55,949 balance by mortgage.
Please note that this is a pre-launch offer.
Accordingly there maybe some changes to layout and specifications. However, until such time as the definitive plans, distribution and specifications are available all reservations taken will be on a fully refundable basis.
Once plans are available clients who have paid refundable reservations will be given a priority allocation. When completely satisfied with their reservations clients will be expected to visit Morocco to view the site (Free Weekend Inspection Visit applies). Provided that clients are fully satisfied with their purchase they will then be expected to make their reserve definite (i.e. non-refundable) and pay the balance of the 40% deposit.
http://www.propertyborders.com
AN 18 HOLE GOLF COURSE WILL BE INCORPORATED WITHIN THE DEVELOPMENT. THE APARTMENTS & VILLAS WILL BE CONSTRUCTED ON GENTLY SLOPING LAND - THUS GIVING MOST PROPERTIES AT PARADISE BEACH & GOLF RESORT VIEWS TO THE SEA.
THE SITE IS IN AN AREA OF GREAT NATURAL BEAUTY AND BORDERS THE FORET DIPLOMATIQUE. A STROLL AROUND THE GOLF COURSE ACCESSES A VIRGIN BEACH OF GOLDEN SANDS. JUST 15 MINUTES DRIVE FROM TANGIERS AND THE AIRPORT IN ONE DIRECTION AND 15 MINUTES OR SO IN THE OPPOSITE DIRECTION TO THE PRETTY FISHING VILLAGE OF ASILAH.
Full Description: PARADISE BEACH & GOLF RESORT PRE-LAUNCH OFFER
1 bed apartments, approx 70 m² including terrace
607.750 Dirhams (£38,465 @ 15.8 Dh/£) Deposit £15,386 balance by mortgage.
2 bed/2 bath ground floor apartments, approx 90 m² including terrace
828.750 Dirhams (£52,452 @ 15.8 Dh/£) Deposit £20,981 balance by mortgage.
2 bed/2 bath penthouse apartments, approx 90 m² including terrace, plus roof terrace
994.500 Dirhams (£62,943 @ 15.8 Dh/£) Deposit £25,177 balance by mortgage.
3 bed/2 bath penthouse apartments, approx 116 m² including terrace, plus roof terrace
1,326.000 Dirhams (£83,924 @ 15.8 Dh/£) Deposit £33,570 balance by mortgage.
Apartments will be in small blocks, 2 storeys high. Ground floor apartments, plus first floor penthouses with access to a flat rooftop sun terrace.
3 bed/2 bath detached villas with private pool (approx 7mx3m)
approx 135 m² including terrace plus 400 m² plot
2,210.000 Dirhams (£139,873 @ 15.8 Dh/£) Deposit £55,949 balance by mortgage.
Please note that this is a pre-launch offer.
Accordingly there maybe some changes to layout and specifications. However, until such time as the definitive plans, distribution and specifications are available all reservations taken will be on a fully refundable basis.
Once plans are available clients who have paid refundable reservations will be given a priority allocation. When completely satisfied with their reservations clients will be expected to visit Morocco to view the site (Free Weekend Inspection Visit applies). Provided that clients are fully satisfied with their purchase they will then be expected to make their reserve definite (i.e. non-refundable) and pay the balance of the 40% deposit.
http://www.propertyborders.com
Property for sale in Alkudia Smir, Tetouan
Alkudia Smir is comprised of 1, 2 & 3 bed apartments, villas and townhouses, with a total of 2189 units. These are made up of 179 villas, 354 touristic apartments (apart hotel) and the rest made up of townhouses and residential apartments.
There is an existing 18 hole golf course nearby at Cabo Negro, with plans for another. Also found nearby is a brand new aqua park which provides a fun day out for the family.
With access to Marina's Kabila & Restinga you will have all the facilities you need for a thoroughly enjoyable and relaxing holiday.
Phase 1 is now sold out and the rest are selling fast.
This is an excellent opportunity for serious investors.
Alkudia Smir is located along the Mediterranean coast halfway between M'Diq and the Spanish enclave of Ceuta.
This stretch of unspoilt coastline is often referred to as Morocco's golden mile and once you have visited the area it is not hard to see why. The beaches are simply breathtaking and more often than not deserted.
Alkudia Smir is near to Marina Smir, Marina Kabila and the pretty village of Chefchaouan with it's beautiful waterfalls. It is 20km from Tetouan and 50km from Tangier.
For further information, visit www.propertyborders.com.
There is an existing 18 hole golf course nearby at Cabo Negro, with plans for another. Also found nearby is a brand new aqua park which provides a fun day out for the family.
With access to Marina's Kabila & Restinga you will have all the facilities you need for a thoroughly enjoyable and relaxing holiday.
Phase 1 is now sold out and the rest are selling fast.
This is an excellent opportunity for serious investors.
Alkudia Smir is located along the Mediterranean coast halfway between M'Diq and the Spanish enclave of Ceuta.
This stretch of unspoilt coastline is often referred to as Morocco's golden mile and once you have visited the area it is not hard to see why. The beaches are simply breathtaking and more often than not deserted.
Alkudia Smir is near to Marina Smir, Marina Kabila and the pretty village of Chefchaouan with it's beautiful waterfalls. It is 20km from Tetouan and 50km from Tangier.
For further information, visit www.propertyborders.com.
Morocccan Property Boom
Source www.propertyborders.com
Morocco which has over the years attracted all types of visitors from world famous politicians like Winston Churchill & President Roosevelt to celebrities such as George Clooney & David & Victoria Beckham is today receiving a different type of visitor. Visitors who have had enough of the usual overcrowded and overly expensive Spain. This type of visitor seeks to feel the deep culture on offer in Morocco and taste the wonderful food available at less than half of Spanish prices. Morocco is visually exciting to the average visitor who has travelled the usual places on the Mediterranean coast. The colours so bright, the deserts so vast, challenging and beautiful and the people so friendly and welcoming. The lush mountains of the riff shadow golden beaches like that of Kabila, further south are the high Atlas Mountains are the tallest mountains in North Africa.
During winter times the rich and famous staying in their villas and palaces take to the ski slopes of Oukaimeden. The British tycoon Richard Branson has bought a Kasbah named Kasbah Tamadot which is used as a luxury boutique hotel. It is found perched dramatically on a hilltop and surrounded by the peaks of the High Atlas. Located in the Atlas Mountains, Oukaimeden, the valley of four winds, is set to become the ultimate four season mountain destination for recreation, entertainment, relaxation and residence as well as being the Middle East and Africas only golf and ski resort. In keeping with Berber design and the shear beauty of the great Atlas Mountains, Oukaimeden village will combine commercial, office, retail, entertainment and dining amenities with a full range of residential options to choose from. With 2,000 hotel rooms, more than 300 retail units and 25,000 sq. metres of business and conference facilities planned, Oukaimeden will be a year round hive of activity. Artisans of all types are attracted to Morocco and its history. The Almoravid dynasty left wonderful architecture and palaces all over Marrakech.
With the recent open air agreement between Morocco and Europe the first of its kind with a country in Africa, low cost carriers are tripping over themselves to serve Morocco. Easy jet was the first to make flights available followed by the ground breaking deal by Ryan air to serve 20 airports across Morocco. Low cost carrier Monarch is also expected to join the race to serve this emerging market flying to Tangier international airport in 2007. What is the driving force behind all this? Some say its the booming Moroccan property market others say the proposed tunnel linking Morocco with Spain. Buyers from across Europe and the World are jumping on the bandwagon of this hot property growth market and with beachfront ocean view properties, listed with Property Borders, starting from £45.000 who can blame them. Morocco is under 2 hours from most places in Europe with great winter sun available. Property Borders are Moroccan property specialists located in London and have found the market in the last year very exciting, the director Mustapha Mezouri who himself is Moroccan commented saying The Moroccan economy this year is expected to grow at a rate of 7.3% compared to last years growth of 1.8%. This will make buying a property a profitable experience as Moroccans join the race to get on the property ladder. Morocco has thousands of miles of empty golden coastline so what are you waiting for grab your exotic Moroccan home before it's to late. For more information, visit propertyborders.com.
About the Author
Property Borders is a Moroccan owned agency, its director Mustapha Mezouri was born in Morocco. We have been at the forefront of the Real Estate industry in Morocco for the past two years, continuously developing its services according to market trends and laws we only market property developments after researching areas for their growth potential. Our staff are all conversant with the property market in Morocco and can help and advise you of the most suitable development for either investment or as a holiday or residential home. Investors have come to expect a personalized, professional, one-stop service As a measure of this commitment, we are the only UK based Moroccan owned estate agents with links to all the major developers in Morocco. This helps us provide our clients with greater choice of the best sourced properties. We endeavour to make sure the process is as smooth as possible. We are an independently owned company that treats its customers with Moroccan hospitality and British professionalism. We give our clients prompt, reliable and personal service with no hard sell.
Source www.propertyborders.com
Property, Real Estate, Investing & Business Articles
Morocco which has over the years attracted all types of visitors from world famous politicians like Winston Churchill & President Roosevelt to celebrities such as George Clooney & David & Victoria Beckham is today receiving a different type of visitor. Visitors who have had enough of the usual overcrowded and overly expensive Spain. This type of visitor seeks to feel the deep culture on offer in Morocco and taste the wonderful food available at less than half of Spanish prices. Morocco is visually exciting to the average visitor who has travelled the usual places on the Mediterranean coast. The colours so bright, the deserts so vast, challenging and beautiful and the people so friendly and welcoming. The lush mountains of the riff shadow golden beaches like that of Kabila, further south are the high Atlas Mountains are the tallest mountains in North Africa.
During winter times the rich and famous staying in their villas and palaces take to the ski slopes of Oukaimeden. The British tycoon Richard Branson has bought a Kasbah named Kasbah Tamadot which is used as a luxury boutique hotel. It is found perched dramatically on a hilltop and surrounded by the peaks of the High Atlas. Located in the Atlas Mountains, Oukaimeden, the valley of four winds, is set to become the ultimate four season mountain destination for recreation, entertainment, relaxation and residence as well as being the Middle East and Africas only golf and ski resort. In keeping with Berber design and the shear beauty of the great Atlas Mountains, Oukaimeden village will combine commercial, office, retail, entertainment and dining amenities with a full range of residential options to choose from. With 2,000 hotel rooms, more than 300 retail units and 25,000 sq. metres of business and conference facilities planned, Oukaimeden will be a year round hive of activity. Artisans of all types are attracted to Morocco and its history. The Almoravid dynasty left wonderful architecture and palaces all over Marrakech.
With the recent open air agreement between Morocco and Europe the first of its kind with a country in Africa, low cost carriers are tripping over themselves to serve Morocco. Easy jet was the first to make flights available followed by the ground breaking deal by Ryan air to serve 20 airports across Morocco. Low cost carrier Monarch is also expected to join the race to serve this emerging market flying to Tangier international airport in 2007. What is the driving force behind all this? Some say its the booming Moroccan property market others say the proposed tunnel linking Morocco with Spain. Buyers from across Europe and the World are jumping on the bandwagon of this hot property growth market and with beachfront ocean view properties, listed with Property Borders, starting from £45.000 who can blame them. Morocco is under 2 hours from most places in Europe with great winter sun available. Property Borders are Moroccan property specialists located in London and have found the market in the last year very exciting, the director Mustapha Mezouri who himself is Moroccan commented saying The Moroccan economy this year is expected to grow at a rate of 7.3% compared to last years growth of 1.8%. This will make buying a property a profitable experience as Moroccans join the race to get on the property ladder. Morocco has thousands of miles of empty golden coastline so what are you waiting for grab your exotic Moroccan home before it's to late. For more information, visit propertyborders.com.
About the Author
Property Borders is a Moroccan owned agency, its director Mustapha Mezouri was born in Morocco. We have been at the forefront of the Real Estate industry in Morocco for the past two years, continuously developing its services according to market trends and laws we only market property developments after researching areas for their growth potential. Our staff are all conversant with the property market in Morocco and can help and advise you of the most suitable development for either investment or as a holiday or residential home. Investors have come to expect a personalized, professional, one-stop service As a measure of this commitment, we are the only UK based Moroccan owned estate agents with links to all the major developers in Morocco. This helps us provide our clients with greater choice of the best sourced properties. We endeavour to make sure the process is as smooth as possible. We are an independently owned company that treats its customers with Moroccan hospitality and British professionalism. We give our clients prompt, reliable and personal service with no hard sell.
Source www.propertyborders.com
Property, Real Estate, Investing & Business Articles
Emerging Morocco
By: Nicholas Marr
The link between successful tourism and an emerging property markets is no more clearly defined than in Africa. Growing numbers of tourists in search of new discoveries unspoilt by the commercialism of the usual holiday hot spots are creating emerging property markets. Airlines and tour operators are contributing by providing cheaper air fares, whilst specialist tour operators serve to enlighten tourists about Africa as a holiday destination.
Globalisation demands new territories to secure future growth for business and corporations world wide continually search for new emerging markets. Many have found Africa and the African governments are welcoming them with open arms. African governments like any government realise the benefits of inward investment and start dancing to the tune of the overseas property investor. The Moroccan government for example is busy creating the right conditions for overseas property investors and are heavily investing in its infrastructure. Morocco is seeing redevelopment along its Mediterranean and Atlantic coasts and has already seen a flurry of activity from overseas property buyers.
The African property market advantage
Africa has an advantage of many emerging markets and that is that most regions are all year holiday destinations and have not been affected by inflated housing prices.
Morocco Property
The fashionable cities of Marrakech, Fès and Essaouira, are home to huge mansions in need of renovation. Overseas buyers are now realising that Morocco has huge potential. With traditional housing cheaper than any other comparable market and off plan opportunities Morocco is worth some more investigation.
The link between successful tourism and an emerging property markets is no more clearly defined than in Africa. Growing numbers of tourists in search of new discoveries unspoilt by the commercialism of the usual holiday hot spots are creating emerging property markets. Airlines and tour operators are contributing by providing cheaper air fares, whilst specialist tour operators serve to enlighten tourists about Africa as a holiday destination.
Globalisation demands new territories to secure future growth for business and corporations world wide continually search for new emerging markets. Many have found Africa and the African governments are welcoming them with open arms. African governments like any government realise the benefits of inward investment and start dancing to the tune of the overseas property investor. The Moroccan government for example is busy creating the right conditions for overseas property investors and are heavily investing in its infrastructure. Morocco is seeing redevelopment along its Mediterranean and Atlantic coasts and has already seen a flurry of activity from overseas property buyers.
The African property market advantage
Africa has an advantage of many emerging markets and that is that most regions are all year holiday destinations and have not been affected by inflated housing prices.
Morocco Property
The fashionable cities of Marrakech, Fès and Essaouira, are home to huge mansions in need of renovation. Overseas buyers are now realising that Morocco has huge potential. With traditional housing cheaper than any other comparable market and off plan opportunities Morocco is worth some more investigation.
Real Estate Property Investment Series: Focus Morocco 2007
The Moroccan government realised that the way forward for their nation in terms of creating employment and boosting the economy significantly was to increase tourism and to create an environment so attractive for investors that they would come in their droves and buy up real estate stock.
To that end the government has been promoting Morocco around the world – there is a permanent stand at Walt Disney World Resort in Florida heralding the virtues of this North African nation that practically touches Europe across the Mediterranean Sea that divides it from mainland Spain for example, and now the skies over Morocco are open to cheap flight operators from across Europe and the UK. The nation has year round sunshine and is directly south and a short flying time from affluent Western Europe and all of these factors are starting to affect Morocco positively.
In 2006 in the first nine months alone tourism traffic was up almost 10% on the previous year with revenue generated from tourism up almost 30% which proves that the government are targeting the ‘right’ sort of tourist – i.e., the ones who come, stay, enjoy and spend money in Morocco! Looking to the longer term the Moroccan government has plans to increase tourism until 10 million visitors annually enter the nation by 2010. There are even plans afoot to build a tunnel under the sea to connect Morocco to Gibraltar in Europe…
‘But why all this information about tourism’ I hear you ask?
Because it is the tourism market that property investors in Morocco are targeting. On the one hand they are targeting those seeking villa and apartment rental and on the other hand they are aware that today’s holiday maker is tomorrow’s second, retirement or holiday home buyer. And investors really are in Morocco buying up and developing real estate stock. Already six brand new coastal resorts are in the planning and development stages, money is flooding in from Dubai and Qatar based development companies and European buyers are purchasing off plan knowing full well that their real estate assets are appreciating even before they are completed and handed over. Buyers in 2007 have a chance to buy in ahead of the continued predicted rise in tourism and before Morocco is established in many people’s minds as a place to invest in real estate.
Consider buying off plan and flipping stock or better still, simply buying and renting to the tourism market on the Atlantic or Mediterranean coasts or in the mountainous ski resort of Oukaimeden. Rental income is earned tax free in Morocco for the first five years and those who hold property for ten years or more pay no capital gains tax when they resell, furthermore one is not subject to local inheritance tax in Morocco either. In conclusion - Morocco offers an investor a wealth of opportunity. Basically an investor needs to consider his preferred investment approach and his target market and then seek suitable real estate with room for growth or with prospects for returning good yields.
Rhiannon Williamson
To that end the government has been promoting Morocco around the world – there is a permanent stand at Walt Disney World Resort in Florida heralding the virtues of this North African nation that practically touches Europe across the Mediterranean Sea that divides it from mainland Spain for example, and now the skies over Morocco are open to cheap flight operators from across Europe and the UK. The nation has year round sunshine and is directly south and a short flying time from affluent Western Europe and all of these factors are starting to affect Morocco positively.
In 2006 in the first nine months alone tourism traffic was up almost 10% on the previous year with revenue generated from tourism up almost 30% which proves that the government are targeting the ‘right’ sort of tourist – i.e., the ones who come, stay, enjoy and spend money in Morocco! Looking to the longer term the Moroccan government has plans to increase tourism until 10 million visitors annually enter the nation by 2010. There are even plans afoot to build a tunnel under the sea to connect Morocco to Gibraltar in Europe…
‘But why all this information about tourism’ I hear you ask?
Because it is the tourism market that property investors in Morocco are targeting. On the one hand they are targeting those seeking villa and apartment rental and on the other hand they are aware that today’s holiday maker is tomorrow’s second, retirement or holiday home buyer. And investors really are in Morocco buying up and developing real estate stock. Already six brand new coastal resorts are in the planning and development stages, money is flooding in from Dubai and Qatar based development companies and European buyers are purchasing off plan knowing full well that their real estate assets are appreciating even before they are completed and handed over. Buyers in 2007 have a chance to buy in ahead of the continued predicted rise in tourism and before Morocco is established in many people’s minds as a place to invest in real estate.
Consider buying off plan and flipping stock or better still, simply buying and renting to the tourism market on the Atlantic or Mediterranean coasts or in the mountainous ski resort of Oukaimeden. Rental income is earned tax free in Morocco for the first five years and those who hold property for ten years or more pay no capital gains tax when they resell, furthermore one is not subject to local inheritance tax in Morocco either. In conclusion - Morocco offers an investor a wealth of opportunity. Basically an investor needs to consider his preferred investment approach and his target market and then seek suitable real estate with room for growth or with prospects for returning good yields.
Rhiannon Williamson
Property in Morocco a Hot Target for 2007
The word’s out already - property in Morocco is a hot target for 2007 and beyond because the government of Morocco are making it easier for overseas buyers to invest in holiday homes and derive rental income tax free for the first five years, they are making it easier to get to and from Morocco by opening up their skies and airports to cheap flight operators from all across Europe and the UK, and they are totally committed to expanding travel and tourism related traffic and income.
As a result of all these factors we no longer consider Morocco an emerging market – rather it is a rapidly maturing market where prices are rising fast - in fact, 2007 could be the last year for investors to bag property bargains.
Serious investment is coming to Morocco especially from the Middle East; for example Emaar Properties from Dubai and Diar from Qatar have both committed to multi million dollar property and resort development projects across the country and the government are signing off new development projects every few months. This brings some serious choice to an investor seeking quality property stock that will rent well throughout the year to the increasing numbers of tourists visiting Morocco annually.
In terms of the growth in tourism which is an investor’s likely core market to target - in 2006 the Moroccan government, through strategic operations such as promoting the delights of Morocco widely to the rest of the world and by opening up key regional airports to cheap flight operators, pushed tourism growth up significantly. In the first nine months of the year tourism traffic grew by 9% compared to the previous year and even more significantly the income from tourism was up 26% suggesting those who are coming are more affluent than before and more willing to spend more money on holiday villa rental for example which bodes well for an investor’s yields.
By the end of 2006 six and a half million travellers will have visited Morocco which is a significant increase on the previous years figures and by 2010 the government are determine to have at least ten million visitors entering the country annually. Naturally enough more tourists means more potential to rent out well located and facilitated properties such as in the coastal resorts from Aglou Plage to Saidia or in the ski resort of Oukaimeden or even in cities such as Tangiers or Marrakech.
An alternative that will exist for an investor in 2007 and for a limited window only will be buying multiple units off plan and flipping back to rookie investors attracted to the market by the greater promotion in the press and through other media of Morocco as a great place to begin building an investment portfolio.
For those seeking the best long term capital appreciation some of the older, more traditional properties are exceptional for growth prospects. But beware – older riads and the like could come with all sorts of property title issues attached. Most older properties do not have title deeds that are legally recognized by the land registry department and as a result, those buying such property stock usually have to enter into a lengthy period of paperwork to secure their property stock – get a good lawyer on board before even making an offer to purchase. All the paperwork hassle can be well worth the trouble for well located properties with character, charm and potential….but for anything else forget it for the time being.
The government in Marrakech will begin a lengthy period of legalizing all property title from 2007 onwards with other towns and cities likely to follow suit. This means that the process to buy older properties in Marrakech will become streamlined and those who can move quickly, snap up run down renovation treats and restore them to their former glory will reap significant financial rewards – but such an investment approach is not for the faint-hearted because the process is not cheap and such work has to be supervised in person if the desired results are to be achieved.
In conclusion - Morocco offers an investor a wealth of opportunity. Basically an investor needs to consider his preferred investment approach and target market and then seek stock with room for growth or prospects for good yields accordingly. The likes of Savills and Colliers have moved into the market in 2006 with Hamptons International following suit in 2007 suggesting that property in Morocco is about to become very big business indeed.
Source Amberlamb
As a result of all these factors we no longer consider Morocco an emerging market – rather it is a rapidly maturing market where prices are rising fast - in fact, 2007 could be the last year for investors to bag property bargains.
Serious investment is coming to Morocco especially from the Middle East; for example Emaar Properties from Dubai and Diar from Qatar have both committed to multi million dollar property and resort development projects across the country and the government are signing off new development projects every few months. This brings some serious choice to an investor seeking quality property stock that will rent well throughout the year to the increasing numbers of tourists visiting Morocco annually.
In terms of the growth in tourism which is an investor’s likely core market to target - in 2006 the Moroccan government, through strategic operations such as promoting the delights of Morocco widely to the rest of the world and by opening up key regional airports to cheap flight operators, pushed tourism growth up significantly. In the first nine months of the year tourism traffic grew by 9% compared to the previous year and even more significantly the income from tourism was up 26% suggesting those who are coming are more affluent than before and more willing to spend more money on holiday villa rental for example which bodes well for an investor’s yields.
By the end of 2006 six and a half million travellers will have visited Morocco which is a significant increase on the previous years figures and by 2010 the government are determine to have at least ten million visitors entering the country annually. Naturally enough more tourists means more potential to rent out well located and facilitated properties such as in the coastal resorts from Aglou Plage to Saidia or in the ski resort of Oukaimeden or even in cities such as Tangiers or Marrakech.
An alternative that will exist for an investor in 2007 and for a limited window only will be buying multiple units off plan and flipping back to rookie investors attracted to the market by the greater promotion in the press and through other media of Morocco as a great place to begin building an investment portfolio.
For those seeking the best long term capital appreciation some of the older, more traditional properties are exceptional for growth prospects. But beware – older riads and the like could come with all sorts of property title issues attached. Most older properties do not have title deeds that are legally recognized by the land registry department and as a result, those buying such property stock usually have to enter into a lengthy period of paperwork to secure their property stock – get a good lawyer on board before even making an offer to purchase. All the paperwork hassle can be well worth the trouble for well located properties with character, charm and potential….but for anything else forget it for the time being.
The government in Marrakech will begin a lengthy period of legalizing all property title from 2007 onwards with other towns and cities likely to follow suit. This means that the process to buy older properties in Marrakech will become streamlined and those who can move quickly, snap up run down renovation treats and restore them to their former glory will reap significant financial rewards – but such an investment approach is not for the faint-hearted because the process is not cheap and such work has to be supervised in person if the desired results are to be achieved.
In conclusion - Morocco offers an investor a wealth of opportunity. Basically an investor needs to consider his preferred investment approach and target market and then seek stock with room for growth or prospects for good yields accordingly. The likes of Savills and Colliers have moved into the market in 2006 with Hamptons International following suit in 2007 suggesting that property in Morocco is about to become very big business indeed.
Source Amberlamb
Morocco’s Property Market Boosted by Spanish FDI
Despite the facts that Spain and Morocco are only separated by nine miles of sea and Spain actually has a couple of enclaves on the Moroccan mainland, the Spanish and Moroccan economies, countries, governments and people have not been closely aligned in recent years. Now a softening of relations between the two nations is resulting in Morocco’s property market being boosted substantially by Spanish foreign direct investment.
Morocco’s property market has suddenly become big news as various multi million dollar property development projects, which are mainly backed or financed by GCC based companies, are getting underway across the country and attracting international investor and buyer interest and the Spanish are aware of the potential that they could access in Morocco.
Conversely and at the same time it has become apparent to both the public and private sector in Spain that the wealth of local Spanish opportunity for development and profit has already been substantially exploited and for the best chances of sustainable profit they will have to look elsewhere. These factors mean that Morocco has suddenly come into the scope of the Spanish.
At the moment Spain lags well behind France in terms of the FDI (foreign direct investment) that it ploughs into Morocco annually, according to Spain’s economy and trade adviser in Rabat the Spanish have plans to turn this around and become one of the largest direct investors in Morocco over the coming years.
Their planned period of increased investment ties in perfectly with the planned expansion of the Moroccan tourism industry which is on target to expand by four million between now and 2010. As the numbers of tourists attracted to the country increases so the demand for accommodation increases and the number of hotel and resort developments in the planning stages or underway in Morocco are testament to this fact.
One of the first Spanish construction firms to announce their direct commitment to Moroccan foreign direct investment is Fadesa; earlier this year Fadesa revealed their detailed plans for a three hundred million Euro tourism and residential property development in Marrakech and they are just the first in on the trend. Already other developers and investors have shown their firm commitment to a range of property and business based projects in Morocco such as the expansion of the port in Rabat and the creation of a free trade zone in Tangier and this expansion of interest and commitment from the Spanish in Morocco bodes well for a long term future partnership.
Source amberlamb
Morocco’s property market has suddenly become big news as various multi million dollar property development projects, which are mainly backed or financed by GCC based companies, are getting underway across the country and attracting international investor and buyer interest and the Spanish are aware of the potential that they could access in Morocco.
Conversely and at the same time it has become apparent to both the public and private sector in Spain that the wealth of local Spanish opportunity for development and profit has already been substantially exploited and for the best chances of sustainable profit they will have to look elsewhere. These factors mean that Morocco has suddenly come into the scope of the Spanish.
At the moment Spain lags well behind France in terms of the FDI (foreign direct investment) that it ploughs into Morocco annually, according to Spain’s economy and trade adviser in Rabat the Spanish have plans to turn this around and become one of the largest direct investors in Morocco over the coming years.
Their planned period of increased investment ties in perfectly with the planned expansion of the Moroccan tourism industry which is on target to expand by four million between now and 2010. As the numbers of tourists attracted to the country increases so the demand for accommodation increases and the number of hotel and resort developments in the planning stages or underway in Morocco are testament to this fact.
One of the first Spanish construction firms to announce their direct commitment to Moroccan foreign direct investment is Fadesa; earlier this year Fadesa revealed their detailed plans for a three hundred million Euro tourism and residential property development in Marrakech and they are just the first in on the trend. Already other developers and investors have shown their firm commitment to a range of property and business based projects in Morocco such as the expansion of the port in Rabat and the creation of a free trade zone in Tangier and this expansion of interest and commitment from the Spanish in Morocco bodes well for a long term future partnership.
Source amberlamb
Morocco Property Buying Process
There are many complexities to the property buying process in Morocco that an investor needs to be aware of before they even consider entering the market place.
But because of the desirability of property for sale in Morocco an investor should not be deterred from securing their ideal piece of real estate just because purchasing it can take many months and a great deal of paperwork!
The key to successfully navigating the real estate purchase process in Morocco is seeking the assistance of a recommended real estate agent or simsaar. These people have a local working knowledge of the property market in the particular part of Morocco in which they work and they are often able to shield the buyer from paying over the market price by understanding the true value of properties for sale.
As with many emerging markets property investors who broadcast the fact that they are in the market for real estate will often find that the places they’re offered for sale suddenly go up in price – with the help of a good simsaar the foreign buyer will pay the same as a local buyer in Morocco. A simsaar will usually charge two and a half percent of the property’s purchase price in fees and some charge a daily rate which can be deducted from this fee. The amount of time and money they can save an investor means that they are well worth their commission.
However, because these agents often speak little English or French it is usually necessary to have a translator as well and a cautious approach should be taken when finding a translator, real estate agent and solicitor in Morocco. The Moroccan people are keen to attract foreign investment and the majority of professionals an investor will deal with will be happy to genuinely assist – but as the saying goes, ‘buyer beware’ when employing anyone to assist with the buying process in any country in the world!
It’s highly likely that an investor will have a great deal of choice in Morocco particularly if they’re interested in older properties and those in need of renovation. It’s a good idea to take a camera and a notepad when examining properties because after a few days it’s easy to forget which pieces of real estate had which features! Once an ideal property has been found it’s usual to make an offer to buy and to negotiate on the asking price. Once an offer has been accepted a deposit of around 10% can be paid. The deposit or arbon should secure the property and remove it from the market place. But unfortunately the reality is that it’s wise to close the sale at the time the price is agreed upon otherwise if the vendor is offered more money before the sale is closed they may well take it and return the investor’s deposit to them.
The problem with closing the sale at this point is the fact that the vendor will require a certain amount of time to vacate the property. It’s usual therefore to close the sale, pay about 30% of the purchase price to help the vendor buy a new property, give the vendors a fixed period of between one and three months to vacate and hold back paying taxes, fees and the complete purchase price until the vendor has physically vacated the property.
There is one small problem with this approach – by officially closing the sale the taxes should be due within 30 days. BUT if you pay the taxes the sale really is closed and the buyer can refuse to move out which in the worst case scenario results in a five year legal battle to have them evicted. So what most buyers do is hold back on paying the taxes, incur a small fine but save themselves the trouble of having deeds transferred into their name and running the risk of having sitting tenants!
This may sound confusing but with the help of a decent lawyer all of this is transparent to the property purchaser. Those buying brand new or off plan property in Morocco of course avoid all of these issues.
Having got slightly ahead of myself in discussing how to proceed to closing the sale on investment property in Morocco it’s important to highlight the fact that no deposit should be paid on a property until the investor’s solicitor can determine whether or not the property’s title deeds are in order. This can take a little time but the wait is worth it because there is no central land registry in Morocco and furthermore, properties are often inherited by multiple parties and all parties have to officially give consent for a sale to take place. All of this paperwork has to be in place before a sale can be closed and a buyer should have the legality of the potential sale confirmed before handing over any money - again, with new properties in Morocco the entire process of determining who has the right to sell etc., is much simpler.
An investor looking at property in Morocco should budget an additional 7 or 8% on top of the purchase price for fees and taxes. As stated the real estate agent will charge about 2.5%, the notaire or public notary will charge 1% to sort out title deeds on older properties - a process that can take up to 2 years after the sale has completed but which will result in the property being worth more in the long run as all subsequent buyers will avoid having to repeat the process – and finally there’s also tax of about 4.5% of the purchase price on property for sale in Morocco.
Source Amberlamb
But because of the desirability of property for sale in Morocco an investor should not be deterred from securing their ideal piece of real estate just because purchasing it can take many months and a great deal of paperwork!
The key to successfully navigating the real estate purchase process in Morocco is seeking the assistance of a recommended real estate agent or simsaar. These people have a local working knowledge of the property market in the particular part of Morocco in which they work and they are often able to shield the buyer from paying over the market price by understanding the true value of properties for sale.
As with many emerging markets property investors who broadcast the fact that they are in the market for real estate will often find that the places they’re offered for sale suddenly go up in price – with the help of a good simsaar the foreign buyer will pay the same as a local buyer in Morocco. A simsaar will usually charge two and a half percent of the property’s purchase price in fees and some charge a daily rate which can be deducted from this fee. The amount of time and money they can save an investor means that they are well worth their commission.
However, because these agents often speak little English or French it is usually necessary to have a translator as well and a cautious approach should be taken when finding a translator, real estate agent and solicitor in Morocco. The Moroccan people are keen to attract foreign investment and the majority of professionals an investor will deal with will be happy to genuinely assist – but as the saying goes, ‘buyer beware’ when employing anyone to assist with the buying process in any country in the world!
It’s highly likely that an investor will have a great deal of choice in Morocco particularly if they’re interested in older properties and those in need of renovation. It’s a good idea to take a camera and a notepad when examining properties because after a few days it’s easy to forget which pieces of real estate had which features! Once an ideal property has been found it’s usual to make an offer to buy and to negotiate on the asking price. Once an offer has been accepted a deposit of around 10% can be paid. The deposit or arbon should secure the property and remove it from the market place. But unfortunately the reality is that it’s wise to close the sale at the time the price is agreed upon otherwise if the vendor is offered more money before the sale is closed they may well take it and return the investor’s deposit to them.
The problem with closing the sale at this point is the fact that the vendor will require a certain amount of time to vacate the property. It’s usual therefore to close the sale, pay about 30% of the purchase price to help the vendor buy a new property, give the vendors a fixed period of between one and three months to vacate and hold back paying taxes, fees and the complete purchase price until the vendor has physically vacated the property.
There is one small problem with this approach – by officially closing the sale the taxes should be due within 30 days. BUT if you pay the taxes the sale really is closed and the buyer can refuse to move out which in the worst case scenario results in a five year legal battle to have them evicted. So what most buyers do is hold back on paying the taxes, incur a small fine but save themselves the trouble of having deeds transferred into their name and running the risk of having sitting tenants!
This may sound confusing but with the help of a decent lawyer all of this is transparent to the property purchaser. Those buying brand new or off plan property in Morocco of course avoid all of these issues.
Having got slightly ahead of myself in discussing how to proceed to closing the sale on investment property in Morocco it’s important to highlight the fact that no deposit should be paid on a property until the investor’s solicitor can determine whether or not the property’s title deeds are in order. This can take a little time but the wait is worth it because there is no central land registry in Morocco and furthermore, properties are often inherited by multiple parties and all parties have to officially give consent for a sale to take place. All of this paperwork has to be in place before a sale can be closed and a buyer should have the legality of the potential sale confirmed before handing over any money - again, with new properties in Morocco the entire process of determining who has the right to sell etc., is much simpler.
An investor looking at property in Morocco should budget an additional 7 or 8% on top of the purchase price for fees and taxes. As stated the real estate agent will charge about 2.5%, the notaire or public notary will charge 1% to sort out title deeds on older properties - a process that can take up to 2 years after the sale has completed but which will result in the property being worth more in the long run as all subsequent buyers will avoid having to repeat the process – and finally there’s also tax of about 4.5% of the purchase price on property for sale in Morocco.
Source Amberlamb
Morocco Investment Property Facts
Because Morocco is such an exotic country offering genuine year round sunshine and is in such close proximity to the UK and the European mainland, it is an incredibly attractive country for a property investor to target.
The potential market an investor has to work with is very broad and the long term economic indicators in Morocco point to sustained fiscal growth over the long term. A property investor has immediate access to income in the form of rental returns from the tourism market in Morocco, and strong potential for long term property price growth as the Moroccan economy grows and overseas interest in holiday and retirement property in Morocco intensifies.
Property investments in Tangier are of particular interest to real estate investors seeking the next emerging hotspot in Morocco. Flying times to Tangier are just two and a half hours from the UK, the resort town is situated on the Mediterranean Sea, in 2008 a new tunnel will be built to link Tangier to Gibraltar and Tangier is definitely Morocco’s most cosmopolitan city although some argue that it doesn’t actually have a typically Moroccan feel! Tourism numbers in Tangier are strong mainly because of its proximity to the European mainland and there is massive demand for accommodation to let out which an investor could cash in on.
Popular Northern Moroccan coastal alternatives to Tangier are Tetouan on the Mediterranean Sea or Casablanca on the Atlantic Ocean. Both are holiday hotspots, both have seen tourism numbers increasing recently and both offer an investor the chance to target both the tourism market and a slowly forming second home market which seeks both renovated traditional properties as well as purpose built holiday villa and apartment properties for sale.
Real estate investors and second homers seeking an emerging market within Morocco tend to head south however where the countryside is more magnificent but the current opportunities for profit are fewer. There’s plenty of evidence to suggest that the southern coastal regions of Morocco will grow in popularity because of the very fact that they are currently unspoilt. Therefore an investor could buy in now and hold property assets for the longer term to enjoy maximum capital growth potential.
In recent years Morocco has begun to develop a reputation as a country with excellent golf courses partly because the country’s King Hassan II was an internationally ranked golfer and those who have created courses in the country have done so very professionally. Slowly but surely the numbers of property developments springing up particularly around Morocco’s sixteen best golf courses in Marrakech, Rabat, Casablanca and Agadir have increased in line with the demand for them. In total Morocco has in excess of thirty golf courses and there are now a number of tour operators offering golfing holidays to Morocco. This area of tourism is therefore growing rapidly and is an area a property investor might like to investigate further. In addition to targeting the golfing tourist an investor should consider that the demand for properties for resale around the best courses is already quite intense and only likely to intensify further so that those with more substantial sums of money could buy into this period of predicted property price growth.
Finally one other area of Morocco where there are excellent opportunities for a property investor is Marrakech. This lively city is where all tourists to Morocco inevitably head, even if only for a day trip. The appeal of the city is broad, it has African, Spanish and French influences, the city square Djemaa el-Fna is full of exciting life and Marrakech is just packed with exotic sights sounds and influences making it an irresistible draw for many international home seekers. On the down side property prices in Marrakech tend to be quite high but on the plus side, property prices are still increasing which means there is at least short to medium term room for growth that a property investor can get in on.
Morocco has a wealth of potential for a property investor and the Moroccan government have recently made it even easier and more attractive for overseas investors to own and profit from real estate in Morocco. Morocco can offer an investor the potential for everything from immediate income to long term sustained property price growth and is therefore a country worthy of consideration by all real estate investors considering property portfolio diversification.
Source Amberlamb
The potential market an investor has to work with is very broad and the long term economic indicators in Morocco point to sustained fiscal growth over the long term. A property investor has immediate access to income in the form of rental returns from the tourism market in Morocco, and strong potential for long term property price growth as the Moroccan economy grows and overseas interest in holiday and retirement property in Morocco intensifies.
Property investments in Tangier are of particular interest to real estate investors seeking the next emerging hotspot in Morocco. Flying times to Tangier are just two and a half hours from the UK, the resort town is situated on the Mediterranean Sea, in 2008 a new tunnel will be built to link Tangier to Gibraltar and Tangier is definitely Morocco’s most cosmopolitan city although some argue that it doesn’t actually have a typically Moroccan feel! Tourism numbers in Tangier are strong mainly because of its proximity to the European mainland and there is massive demand for accommodation to let out which an investor could cash in on.
Popular Northern Moroccan coastal alternatives to Tangier are Tetouan on the Mediterranean Sea or Casablanca on the Atlantic Ocean. Both are holiday hotspots, both have seen tourism numbers increasing recently and both offer an investor the chance to target both the tourism market and a slowly forming second home market which seeks both renovated traditional properties as well as purpose built holiday villa and apartment properties for sale.
Real estate investors and second homers seeking an emerging market within Morocco tend to head south however where the countryside is more magnificent but the current opportunities for profit are fewer. There’s plenty of evidence to suggest that the southern coastal regions of Morocco will grow in popularity because of the very fact that they are currently unspoilt. Therefore an investor could buy in now and hold property assets for the longer term to enjoy maximum capital growth potential.
In recent years Morocco has begun to develop a reputation as a country with excellent golf courses partly because the country’s King Hassan II was an internationally ranked golfer and those who have created courses in the country have done so very professionally. Slowly but surely the numbers of property developments springing up particularly around Morocco’s sixteen best golf courses in Marrakech, Rabat, Casablanca and Agadir have increased in line with the demand for them. In total Morocco has in excess of thirty golf courses and there are now a number of tour operators offering golfing holidays to Morocco. This area of tourism is therefore growing rapidly and is an area a property investor might like to investigate further. In addition to targeting the golfing tourist an investor should consider that the demand for properties for resale around the best courses is already quite intense and only likely to intensify further so that those with more substantial sums of money could buy into this period of predicted property price growth.
Finally one other area of Morocco where there are excellent opportunities for a property investor is Marrakech. This lively city is where all tourists to Morocco inevitably head, even if only for a day trip. The appeal of the city is broad, it has African, Spanish and French influences, the city square Djemaa el-Fna is full of exciting life and Marrakech is just packed with exotic sights sounds and influences making it an irresistible draw for many international home seekers. On the down side property prices in Marrakech tend to be quite high but on the plus side, property prices are still increasing which means there is at least short to medium term room for growth that a property investor can get in on.
Morocco has a wealth of potential for a property investor and the Moroccan government have recently made it even easier and more attractive for overseas investors to own and profit from real estate in Morocco. Morocco can offer an investor the potential for everything from immediate income to long term sustained property price growth and is therefore a country worthy of consideration by all real estate investors considering property portfolio diversification.
Source Amberlamb
Morocco Property Investment Introduction
A number of French and Spanish property investors have already discovered the delights of Morocco; and because of the country’s unique position as the shortest haul exotic destination for Western Europeans, a growing international property investor interest is awakening in this stunning North African destination.
The property buying process in Morocco has improved in recent years creating more confidence in the whole sector, and as the Moroccan government are committed to preparing their economy for free trade with the US and EU, the long term prospects for Morocco’s emerging investment real estate market sector are very positive indeed.
The majority of current property investor interest is centred on the exciting Moroccan city of Marrakech. This city benefits from a unique blend of African, Spanish and French influences and is home to some stunning architecture, fabulous amenities and excellent attractions.
Those buying investment properties in Marrakech have a fair amount of choice depending on whether they want to appeal to the tourist rental market or overseas house hunting market. The latter often seek traditional riads which are Moroccan houses built around a central shady courtyard and which can be bought for a reasonable sum when in need of restoration, but which can be incredibly expensive when refurbished as renovation costs in Morocco can be high. The tourist market on the other hand seeks apartment, villa or hotel accommodation and flock to the city all year round giving an investor the added advantage of year round income potential.
Those buying in Marrakech will benefit from the best developed infrastructure Morocco has to offer as well as international air links, and the city is home to some stunning golf courses too! But Marrakech lacks one important ingredient that will restrict the numbers of second homers and even retirees looking for a place in an emerging sunshine market - and that’s a coastline. Marrakech lies inland and therefore the amount and type of property investment opportunities are restricted.
There exists an emerging market within this emerging Moroccan market therefore, and that is along the Mediterranean Sea and North Atlantic Ocean coastlines where currently development is sparse and massive opportunities exist to target the tourist hotel or villa rental market and the second homers and retirees seeking their perfect place in an exotic, always sunny, overseas paradise.
Because the government of Morocco are acutely aware of their need to attract foreign investment they have simplified and further legitimised the entire property buying and ongoing ownership rules, laws and processes. This, coupled with the fact that the government have long term plans to structure their economy to allow for free US and European/Moroccan trade, point to the fact that the prospects for Moroccan property are very positive. Those considering making an investment right now may be taking a greater risk than someone who waits until Morocco is a well know real estate investment hotspot, but they will most likely be the ones reaping greater returns in the end!
Source Amberlamb
The property buying process in Morocco has improved in recent years creating more confidence in the whole sector, and as the Moroccan government are committed to preparing their economy for free trade with the US and EU, the long term prospects for Morocco’s emerging investment real estate market sector are very positive indeed.
The majority of current property investor interest is centred on the exciting Moroccan city of Marrakech. This city benefits from a unique blend of African, Spanish and French influences and is home to some stunning architecture, fabulous amenities and excellent attractions.
Those buying investment properties in Marrakech have a fair amount of choice depending on whether they want to appeal to the tourist rental market or overseas house hunting market. The latter often seek traditional riads which are Moroccan houses built around a central shady courtyard and which can be bought for a reasonable sum when in need of restoration, but which can be incredibly expensive when refurbished as renovation costs in Morocco can be high. The tourist market on the other hand seeks apartment, villa or hotel accommodation and flock to the city all year round giving an investor the added advantage of year round income potential.
Those buying in Marrakech will benefit from the best developed infrastructure Morocco has to offer as well as international air links, and the city is home to some stunning golf courses too! But Marrakech lacks one important ingredient that will restrict the numbers of second homers and even retirees looking for a place in an emerging sunshine market - and that’s a coastline. Marrakech lies inland and therefore the amount and type of property investment opportunities are restricted.
There exists an emerging market within this emerging Moroccan market therefore, and that is along the Mediterranean Sea and North Atlantic Ocean coastlines where currently development is sparse and massive opportunities exist to target the tourist hotel or villa rental market and the second homers and retirees seeking their perfect place in an exotic, always sunny, overseas paradise.
Because the government of Morocco are acutely aware of their need to attract foreign investment they have simplified and further legitimised the entire property buying and ongoing ownership rules, laws and processes. This, coupled with the fact that the government have long term plans to structure their economy to allow for free US and European/Moroccan trade, point to the fact that the prospects for Moroccan property are very positive. Those considering making an investment right now may be taking a greater risk than someone who waits until Morocco is a well know real estate investment hotspot, but they will most likely be the ones reaping greater returns in the end!
Source Amberlamb
Property in Morocco - Guide to Buying Property in Morocco
In the 21st century, Morocco is the country on the African continent that is experiencing one of the fastest growing and fastest paced real estate markets in the region. There are a number of reasons why this is the case, chief amongst them is the fact that Morocco has enjoyed relative stability for an extended period of time. In addition, the climate in many parts of the country is very appealing to people from many different countries around the world.
With the brisk business that is being conducted in the Moroccan real estate market, many foreign nationals have invested in the country's real estate. Foreign nationals have been found to be investing in commercial real estate as well as in vacation properties. Further, some foreign nationals -- particular those from France -- have invested in second homes in Morocco. (France has a long association with Morocco, the Kingdom of Morocco having once been a French colony.
Investment Property in Morocco
As references, foreign nationals have been active investors in the Moroccan real estate market. Foreign nationals can be found holding all types of real estate in the Kingdom, including commercial, industrial and residential properties of different varieties (including vacation real estate).
On balance, investments in Moroccan real estate has proven to be a sound and solid investment. The value of real estate in Morocco has increased steadily over time. There has not been an overheating of the market in Morocco as has been experienced in some countries around the world. When a market overheats, the end result usually tends to be a collapse of the real estate market at least to some degree .
Residential Property in Morocco
Some foreign nationals have taken to purchasing single family residences in Morocco. The majority of these foreign nationals that do purchase single family dwellings are from France -- again, because of the historical association between the Republic of France and the Kingdom of Morocco.
There has been a noticeable up tick in the past decade in the number of non-French foreign nationals who have taken to purchasing single family residences in that country. Primarily, these foreigners are buying these single family properties for holiday purposes. These second residences are being bought because many people have learned how lovely the climate is in many parts of Morocco .
Residential Real Estate - Apartments in Morocco
The Moroccan government has taken some pretty aggressive steps in attracting foreign commercial interested into the country. In this regard, the trade in apartments in the commercial centers of the country has been brisk since the turn of the century. More often than not, foreign nationals that have been found investing in this type of real estate are doing so because they need more long term residences in country while they are involved in some sort of commerce based project.
Some foreign nationals have taken to developing apartment buildings and complexes which they are then in turn leasing to other foreign nationals who find themselves in Morocco for extended stays due to business related obligations. This has proven to be a fairly lucrative venture for many of these foreign nationals. Again, the French have been leading the way in this type of investment and development. However, other foreign nationals are becoming more involved in this type of development and ownership as the country continues to work at brining more foreign business, investment and capital into the Kingdom.
There are also a growing number of foreign nationals who have invested in apartment complexes and buildings in hopes of attracting some of the tourist trade that ventures into the Kingdom annually. Many visitors intend to stay in country for an extended period of time on holiday, making an apartment a very attractive housing option while visiting Morocco .
Holiday Property in Moroccan Holiday Resorts
During the couple of decades, a growing number of people have taken to spending holidays in the Kingdom of Morocco. Indeed, the government of the country has made a concerted effort to attract tourists to the country. Attracting tourists has become a primary concern of the government since the dawn of the 21st century.
With this in mind, there has been a significant demand for vacation real estate in the Kingdom. Many foreign nationals are buying real estate for vacation purposes in different regions of the country. In this regard, a majority of these foreign nationals are purchasing this type of real estate for their own usage. Foreign nationals for an array of different countries have taken to spending extended vacations within the Kingdom of Morocco.
In addition to purchasing vacation real estate of a foreign national's personal use for holiday travel, some foreign nationals have come to understand that there is money to be made through the ownership of real estate that can be used for holiday and vacation purposes. Thus, a significant number of foreign nationals have purchased vacation real estate throughout the Kingdom which they, in turn, are leasing and renting to other people for use during holiday stays in the country. For some foreign nationals, this type of investment has proven very lucrative, particularly in light of the concerted effort that the government of the Kingdom is making to attract visitors and tourists to the country .
Specific Steps to Buying a Property in Morocco
Over the course of the past decade, the government of Morocco has worked to attract more foreign investment in the country, including efforts to encourage more foreign nationals to purchase and invest in property in the Kingdom of Morocco. To this end, the government of Morocco has taken pains to simplify the process through which foreign nationals can purchase and take possession of property in the Kingdom. In short, the government is committed to encouraging an infusion of foreign investment and capital into the Kingdom. Naturally, a more liberal course of foreign ownership of real estate plays a vital role in enhancing the overall activity of foreign investors in the economy of Morocco.
In Morocco, as in many nations around the globe in this day and age, the first step in purchasing property in the Kingdom of Morocco is the making of a verbal offer by the potential buyer to the seller. More often than not, the oral indication of intent to purchase of conveyed from the potential buyer to the seller through an agent. Agents do play pivotal roles in the buying and selling of real estate in Morocco. Indeed, it is a rare real estate transaction that does not involve the services of a real estate agent.
If the seller accepts the offer, or propounds a counteroffer that ends up being accepted in turn by the potential buyer, a preliminary contract is drafted. Normally, in Morocco, this document is the handiwork of a lawyer. There are standard forms that can be utilized for this purpose. However, most foreign nationals indicate that they feel more comfortable having an individual and specific agreement drafted by a qualified lawyer.
Following the execution of this preliminary agreement, the buyer is involved in obtaining financing for the real estate purchase. The seller is occupied working to make certain that there are no encumbrances on the property that might impair the ability of the seller to convey the property to the buyer when the real estate transaction moves to conclusion.
At the point in time that this initial contract is executed, the buyer is obliged to put a deposit on the real estate. Generally the deposit is in the amount of upwards to 30% of the total purchase price of the real estate that is the subject of the transactions. In some instances, a buyer will have up to thirty days from the date that the initial contract is signed to post the deposit required by the terms and conditions of that agreement. The balance will be do at the time that the final agreement is executed between the parties to the sale.
There are some mortgage lenders doing business in the Kingdom that cater specifically to foreign nationals that are interested in buying real estate in the country. By using such a mortgage lender, many foreign nationals have found completing the real estate purchase process in Morocco to be an easier process overall.
In order to consummate the sale, it is necessary for a foreign national to open a bank account within the Kingdom of Morocco.
Ultimately, the parties to the real estate transaction will execute a final contract that will result in the conveyance of the real estate from the buyer to the seller. At this time, the property is registered with the government of the Kingdom and the buyer becomes the owner of record of the real estate in question.
Generally speaking, the registration process can be consummated in a pretty short amount of time. In most instances, this phase of the property buying process normally can be wrapped up and concluded within a matter of days.
Les Calvert
With the brisk business that is being conducted in the Moroccan real estate market, many foreign nationals have invested in the country's real estate. Foreign nationals have been found to be investing in commercial real estate as well as in vacation properties. Further, some foreign nationals -- particular those from France -- have invested in second homes in Morocco. (France has a long association with Morocco, the Kingdom of Morocco having once been a French colony.
Investment Property in Morocco
As references, foreign nationals have been active investors in the Moroccan real estate market. Foreign nationals can be found holding all types of real estate in the Kingdom, including commercial, industrial and residential properties of different varieties (including vacation real estate).
On balance, investments in Moroccan real estate has proven to be a sound and solid investment. The value of real estate in Morocco has increased steadily over time. There has not been an overheating of the market in Morocco as has been experienced in some countries around the world. When a market overheats, the end result usually tends to be a collapse of the real estate market at least to some degree .
Residential Property in Morocco
Some foreign nationals have taken to purchasing single family residences in Morocco. The majority of these foreign nationals that do purchase single family dwellings are from France -- again, because of the historical association between the Republic of France and the Kingdom of Morocco.
There has been a noticeable up tick in the past decade in the number of non-French foreign nationals who have taken to purchasing single family residences in that country. Primarily, these foreigners are buying these single family properties for holiday purposes. These second residences are being bought because many people have learned how lovely the climate is in many parts of Morocco .
Residential Real Estate - Apartments in Morocco
The Moroccan government has taken some pretty aggressive steps in attracting foreign commercial interested into the country. In this regard, the trade in apartments in the commercial centers of the country has been brisk since the turn of the century. More often than not, foreign nationals that have been found investing in this type of real estate are doing so because they need more long term residences in country while they are involved in some sort of commerce based project.
Some foreign nationals have taken to developing apartment buildings and complexes which they are then in turn leasing to other foreign nationals who find themselves in Morocco for extended stays due to business related obligations. This has proven to be a fairly lucrative venture for many of these foreign nationals. Again, the French have been leading the way in this type of investment and development. However, other foreign nationals are becoming more involved in this type of development and ownership as the country continues to work at brining more foreign business, investment and capital into the Kingdom.
There are also a growing number of foreign nationals who have invested in apartment complexes and buildings in hopes of attracting some of the tourist trade that ventures into the Kingdom annually. Many visitors intend to stay in country for an extended period of time on holiday, making an apartment a very attractive housing option while visiting Morocco .
Holiday Property in Moroccan Holiday Resorts
During the couple of decades, a growing number of people have taken to spending holidays in the Kingdom of Morocco. Indeed, the government of the country has made a concerted effort to attract tourists to the country. Attracting tourists has become a primary concern of the government since the dawn of the 21st century.
With this in mind, there has been a significant demand for vacation real estate in the Kingdom. Many foreign nationals are buying real estate for vacation purposes in different regions of the country. In this regard, a majority of these foreign nationals are purchasing this type of real estate for their own usage. Foreign nationals for an array of different countries have taken to spending extended vacations within the Kingdom of Morocco.
In addition to purchasing vacation real estate of a foreign national's personal use for holiday travel, some foreign nationals have come to understand that there is money to be made through the ownership of real estate that can be used for holiday and vacation purposes. Thus, a significant number of foreign nationals have purchased vacation real estate throughout the Kingdom which they, in turn, are leasing and renting to other people for use during holiday stays in the country. For some foreign nationals, this type of investment has proven very lucrative, particularly in light of the concerted effort that the government of the Kingdom is making to attract visitors and tourists to the country .
Specific Steps to Buying a Property in Morocco
Over the course of the past decade, the government of Morocco has worked to attract more foreign investment in the country, including efforts to encourage more foreign nationals to purchase and invest in property in the Kingdom of Morocco. To this end, the government of Morocco has taken pains to simplify the process through which foreign nationals can purchase and take possession of property in the Kingdom. In short, the government is committed to encouraging an infusion of foreign investment and capital into the Kingdom. Naturally, a more liberal course of foreign ownership of real estate plays a vital role in enhancing the overall activity of foreign investors in the economy of Morocco.
In Morocco, as in many nations around the globe in this day and age, the first step in purchasing property in the Kingdom of Morocco is the making of a verbal offer by the potential buyer to the seller. More often than not, the oral indication of intent to purchase of conveyed from the potential buyer to the seller through an agent. Agents do play pivotal roles in the buying and selling of real estate in Morocco. Indeed, it is a rare real estate transaction that does not involve the services of a real estate agent.
If the seller accepts the offer, or propounds a counteroffer that ends up being accepted in turn by the potential buyer, a preliminary contract is drafted. Normally, in Morocco, this document is the handiwork of a lawyer. There are standard forms that can be utilized for this purpose. However, most foreign nationals indicate that they feel more comfortable having an individual and specific agreement drafted by a qualified lawyer.
Following the execution of this preliminary agreement, the buyer is involved in obtaining financing for the real estate purchase. The seller is occupied working to make certain that there are no encumbrances on the property that might impair the ability of the seller to convey the property to the buyer when the real estate transaction moves to conclusion.
At the point in time that this initial contract is executed, the buyer is obliged to put a deposit on the real estate. Generally the deposit is in the amount of upwards to 30% of the total purchase price of the real estate that is the subject of the transactions. In some instances, a buyer will have up to thirty days from the date that the initial contract is signed to post the deposit required by the terms and conditions of that agreement. The balance will be do at the time that the final agreement is executed between the parties to the sale.
There are some mortgage lenders doing business in the Kingdom that cater specifically to foreign nationals that are interested in buying real estate in the country. By using such a mortgage lender, many foreign nationals have found completing the real estate purchase process in Morocco to be an easier process overall.
In order to consummate the sale, it is necessary for a foreign national to open a bank account within the Kingdom of Morocco.
Ultimately, the parties to the real estate transaction will execute a final contract that will result in the conveyance of the real estate from the buyer to the seller. At this time, the property is registered with the government of the Kingdom and the buyer becomes the owner of record of the real estate in question.
Generally speaking, the registration process can be consummated in a pretty short amount of time. In most instances, this phase of the property buying process normally can be wrapped up and concluded within a matter of days.
Les Calvert
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