I have seen a lot of activity and buzz around property in Morrocco it seems that investors are expecting big things from the region which is being tipped for succes by many overseas property buyers.
Morocco has been compared to that of Spain 15 years ago so buyers are eager to get in on the action. The Moroccan government aims to increase tourism to the country to ten million by 2010. When you visit Morocco you will find building work and brand new resorts along the country’s coastline.
The support of the King has turned Morocco into an attractive proposition. Many ‘emerging’ markets simply lack the basic infrastructure needed to support a burgeoning property market, but King Mohammed’s £2.2 billion contribution will ensure that all necessary facilities and amenities are in place. Put simply, this means that if these ambitious tourism targets are met, Morocco could well be the next holiday hotspot – a move which could only mean good things for the property market in terms of both capital growth and rental returns
Morocco is very convenient to the UK and visitors are able to be there with two and a half hours. Property in Morocco is highly desirable, however, there are many complexities and one should look for the expertise of a recommended real estate agent or legal representative. Real estate agents are not registered and with this comes some the chances of being ripped off.
It is important to choose a recommended notaire who plays a significant role in the Moroccan buying process. Property in Tangiers and Morocco are increasingly popular due to the low cost of living coupled with the no annual property tax for the first five years. There is also a 0% inheritance tax to family that will allow you to keep your Moroccan investment in the family for many years to come.
Article by Nicholas Marr CEO Marr International Ltd the company behind overseas property portal www.homesgofast.com
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