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.