|
MOROCCO
To many of you visiting this site for the first time, you may well be asking Why Invest in a property in Morocco?
You will plenty of reasons on this site and many others explaining about the Plan Azur, the King's 10 year strategy for his country, the huge inflows of money from other Arab countries to up date the infrastructures. All of this is very valid and worth reading. |
|
However, we can also sum it up this way:
Closeness to Europe, together with a well planned programme for developing tourism. Good all year round sunny weather and as easy to get to from the UK as Spain. (great for short breaks any time of the year!)
Stable politically with a fast growing economy. An easy and open lifestyle. Past and present links with France ensure that Morocco is very cosmopolitan. Miles of coastline and fantastic beaches on both its Mediterranean and Atlantic coasts. Several large cities, (not just Marrakech, but also Fez, Meknes, Tangiers) with excellent property investment potential. Well planned programme of property development through coastal high quality resorts and not scattered all over.
Low property prices and low cost of living(while it lasts) Simple straightforward buying process with security of title and access to mortgages. All this make for an exciting destination both for investors looking for good returns and capital gains as well as for buyers looking for an environment in which to enjoy a holiday home thats just a short flight away.
Morocco is a place of year round sunshine, good food and wine, great beaches and golf courses and low cost flights enabling you to travel there on a frequent basis.
A vibrant and exotic country that has attracted high profile real estate investors,Morocco offers the convenience of southern Spain at significantly lower prices.
In recent years, tourists and investors alike have begun to realise that Morocco has much to offer. It's welcoming people and natural beauty have helped to put Morocco at the forefront of the overseas property market over the past 10 months.
As well as the cultural cities of Marrakech, Casablanca, Fes and Tangiers, Morocco offers an abundance of pristine coastline along both the Atlantic and Mediterranean Sea which is attracting buyers looking for a quieter and more beach orientated way of life. Stunning vistas and golden sand beaches are being sensibly and responsibly developed with most resorts developers only permitted to build 3 story structures within the resort.
In 1999, Prince Sidi Mohammed was declared King of Morocco.
After his enthronement, the King revealed his ambitious development plans for the country.
In 2001, the Moroccan government presented Vision 2010 as Morocco 's national tourism strategy. The main objectives were to attract five times as many visitors in 2010 as in 2002 and to create 600,000 new jobs in the tourist sector.
In conjunction with Vision 2010, the Moroccan government has also announced the Azur Plan. The key elements are: |
|
The creation and development of 6 new state-of-the-art coastal resorts (5 on the Atlantic Coast and 1 on the Mediterranean Coast). Additionally:
• New Motorways to be built or upgraded
• New Regional Airports to be either built or upgraded
• Increase and de-regulate incoming flights from all over Europe with the introduction of an Open Skies policy
• New marinas and ports and high-speed trains to be implemented
• Investigate and possibly implement the construction of a tunnel linking Spain and Morocco under the Straits of Gibraltar.
It is widely predicted that the costal property market in Morocco is set to boom. UK tourism has increased by some 18% between 2004 and 2005 alone. |
|
|
Property prices, however, are like Spain 10 years ago!!
DEVELOPMENT OF NEW LUXURY PROJECTS
Several resort style developments are underway on the northern Mediterranean coast as well as on the western Atlantic coast.
This is still a country of unspoilt beaches and landscapes, and the good news is that it will stay that way as the new developments being built are restricted to being no higher than two storeys, so no skyscrapers on the beach.
TITLE AND LEGAL PROTECTION and TAX EXEMPTIONS
Until the late 1950's Morocco was a French Protectorate. This means that even now, the official business language is still French and all offial business transactions are conducted through a Notary. Property ownership and title are stricltly controlled and legalized through the Notary's office and the land registry.
Between 0% and 20% tax on any capital gains
0% Inheritance tax to family
No annual property tax for first 5 years |
 |
CHOICE OF PROPERTY
The several developments currently underway, with the exception of Marakkesh, area all in coastal areas offering a choice which includes beach and golf.
In terms of properties, these run from 1 bed apartments to deluxe villas in their own grounds with pools.
Please consult our property section for availability and pricing.
INVESTMENT AND MANAGED RENTALS
The availability of mortgages, the security of freehold ownership and the excellent prospects of capital appreciation make this an investment buyer's choice. The favourable tax structure fro foreign buyers ensures little or no tax, and at re-sale there are no restrictions on repatriating funds. |
The wisdom of building properties in a resort complex ensures a better potential for renting the property out (e.g around golf tournaments and people holidaying out of season, given the year round sunshine).
To this effect, several resort developments have their own in house managed rental programmes. Please consult us on this aspect of the purchase process if it is important to you to let out your property and cover some of asll of the mortgage payments. | | |
