Tuesday, 27 February 2007

More retirees 'may consider' Morocco in the near future

More retirees 'may consider' Morocco in the near future
The north African country of Morocco looks set to become a new hotspot for people thinking of retiring to the sun, after a planned tunnel with Spain received ministerial backing.

Recently, the plans for a tunnel linking Morocco with Spain have gained steam. In an interview, Karim Ghellab, Morocco's minister of transportation said: "It's not easy to predict a date yet, but it is a project that will happen. It will completely change our world."

With several low-cost airlines already offering cheap flights to the country, the new tunnel is only going to improve access to the country for people looking to retire abroad.

According to a Moroccan property expert, Property Borders, foreign investment in the country is already at an all time high and 10 million tourists are expected to visit annually by 2010.

The Independent reports that property in Morocco is also showing impressive returns. According to the paper, a record number of Britons are buying property and experiencing capital gains of more than 20 per cent per year.

Abby Aron, author of Buying a House in Morocco, told the paper that the costal towns of south-west Morocco are particularly suitable for people thinking of buying a property to retire to.

"This stretch of coast is exciting for those looking for a second home, because property prices are still very reasonable," she explained.

26th February 2007

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