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