Morocco property resale boom

Image via Wikipedia London based Moroccan property agents Property Borders are reporting the resale market in Morocco is starting to bear fruit.

Beverley Mezouri a director for Moroccan agents Property Borders comments “with developments such Jawhara Smir now completed and achieving rental levels as high as £500 per week for a 2 bed apartment, originally priced at £40.000 it’s easy to see why there is now a demand for resale property in Morocco.”

“Yields in Morocco are great” comments Beverley Mezouri Rental occupancy reaches 85% most years especially during the Peak Season.


“The Mirador Golf development due for completion in October is one such development that we are seeing a demand for. Buyers are becoming more astute & looking for a turnkey investment” comments Beverley.

The Mirador Golf development is located on the Mediterranean coast of Morocco in the prestigious Cabot Negro area. Some of the properties have views over the magnificent Mediterranean Sea & the perfect 18 hole Cabo Negro golf course.

“With the great potential for golf rentals and prices starting just under £40.000 for a 2 bed apartment it’s easy to see why these apartments are so sought after” comments Beverley Mezouri.

Moroccan agents Property Borders have a limited number of resale properties for sale on Mirador Golf. This selling very quickly, as handover of some of these properties is imminent.

The Mirador Golf apartments are perfect for the end user who is too cautious to buy prior to construction and would like to see the finished product.

According to Beverley Mezouri there are many clients that want to buy in developments which are already under construction. “This is not surprising” says Beverley, with many developments being announced almost weekly. Some developers have not even purchased the land or obtained planning permission warns Beverley.

Property Borders ensure they complete a full dull diligence report on the developments they market.

"As the UK’s 1st Moroccan agency we at Property Borders feel obliged to protect our clients and the reputation of Morocco as a great place to invest". comments Mustapha Mezouri the founder of Property Borders.

Property Borders is a Moroccan owned agency, its co-director Mustapha Mezouri was born in Northern 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.

View property borders website

Sunset Resort Asilah

Image via Wikipedia It is little wonder that western investors and holiday home buyers are flocking to this beautiful region of Morocco known by Moroccans across the country as the Tuscany of Morocco.

"Asilah with its surrounding green countryside is stunningly beautiful." comments Mustapha Mezouri the founder of London based Moroccan agency Property Borders.

Artists and musicians are attracted to Asilah which hosts its own annual arts festival attracting visitors from all aver the world.

With its quaint squares and its whitewashed houses overlooking the Atlantic Ocean, Asilah is very pleasing to the eye.

In 1578 after the famous "Battle of the three Kings", the Portuguese lost Asilah to the Spanish. In 1956 Asilah was finally reclaimed by the Moroccans for good and became part of the new Moroccan Kingdom.

"Investment has been pouring into the Asilah region. Its mayor Mohamed Benaissa is also the ambassador to the United States and he helped to bring prosperity to the town by inaugerating the arts festival in the late 1970's" comments Mustapha Mezouri of Property Borders.

"We have seen the area between Asilah and Tangier go from strength to strength" says Mustapha "with Dubai based Emaar launching their luxury development Tinja in the region".

Tinja will be joining a growing list of luxury developments being built in the region by rich Arab Gulf developers who are ploughing their oil money into this emerging area.

Many of these high end developments include 18 hole golf courses like the Al Houara resort being developed by Qatar based company Qatari Diar.

"Property Borders have witnessed growth in both Tangier and Asilah" comments Mustapha Mezouri, "we have seen prices on the luxury Paradise Golf & Beach Resort rise over 30% and on the 5 star Tanjah Beach & Golf Resort we have just had a price increase of 30%".

Asked whether the price increases are affecting the market Mustapha says "There is still plenty of room for growth with demand at a all time high".

Property Borders are expecting growth rates of at least 20% this year as the market expands. With FDI (foreign direct investment) increasing with the likes of Renault investing 600 million euros for car production the signs are good. The investment from Renault alone is expected to create 6000 new jobs.

Just released by Property Borders is the aptly named Sunset Resort North of Asilah, 400 beachfront apartments and penthouses many with amazing ocean views and access to the powdery wide beaches of Asilah.

Prices at the Sunset Resort start at only £52,088 but are already due for an imminent price increase as building has already commenced and all licences are already in place.

With prices rising across the board in Morocco this could be one of the last bargain developments in this area known by the Moroccans as the Tuscany of Morocco.

View property borders website

Property Borders
0208 508 9905
www.propertyborders.co.uk
enquiries@propertyborders.com
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