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.
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.