Why Morocco
Morocco offers travellers a new and exciting variety of experiences including a host of historic cities, long white beaches, mountains, ski resorts, deserts, a rich culture and already attracts more than 3m tourists a year.
At its most northern tip is the Mediterranean sea, Algeria is to the East, the Western Sahara to its south and the Canary islands are just off the tip of its most southerly point.
Its most well known city of Casablanca is its biggest and Morocco’s economic centre although Rabat is actually the countries capital city. Marrakech is the second largest city and is the countries tourist centre and entertainment capital whilst Fez is a historic city holding onto its French roots to describe only three of many.
Ideal for windsurfers, Morocco has hundreds of miles of white sandy beaches around its Mediterranean and Atlantic coast line and can also offer impressive golf and tennis facilities. Morocco’s national sporting obsession is football, from a beach kick about game to local league and cup matches!
If discovering the real Morocco sounds exciting then your only problem will be where to start. We though we’d give you a short list of alternatives! Trekking in the Atlas Mountains, Skiing at Ouka’meden, Camel Trekking the deserts to the south or maybe discovering the roman ruins, imperial cities, elaborate mosques, local markets, ancient tombs and French and Spanish colonial relics or maybe just catching up with locals in one of the traditional Soukes (coffee houses).
Spectacularly diverse, Morocco is also the nearest exotic location to the UK. The country is very close to Europe, barely 14 kilometres from Spain across the Straits of Gibraltar. It is in many ways a country apart with breathtaking landscapes combining sand, sea and snow.In January 2001, the King Mohammed VI initiated Vision 2010. This Plan aims to put tourism at the forefront of the country's economic development with ambitious but realistic objectives to be achieved by 2010. As partner of Vision 2010, the United Arab Emirates have been investing massive funds into Morocco to help increase tourism. The general financial input is to be spent on improved infrastructure including new roads, trains, marinas, ports, shopping malls, beach clubs, etc. Two Dubai-based companies have actually made an overall investment of $20 billion towards Morocco's tourism and infrastructure (Source: CNN). ‘’The UAE has also become the single 'largest source of foreign investment in Morocco,' said Salaheddine Mezouar, Morocco's Minister for Trade, Industry and Economy. 'We anticipate more investment of this sort in the future.' (Source: CNN)
Currently Morocco is one of the best options available with regards to real estate investment. Property prices compared to most other destinations is much lower and has the added benefit of having an already established and rapidly growing 'buy to let' demand. Capital growth is expected to be between 15% and 30% per annum.
Reasons to invest in Moroccan property
- 1. The 'Open Skies' agreement means that the likes of Ryan Air and Easy Jet will be flying routes in to all major cities in Morocco
- 2. The Open Skies policy allows competition for Moroccan air routes. It will generate competition, increase services and dramatically lower air fares.
- 3. Property prices are currently very competitive.
- 4. Stunning sandy beaches.
- 5. year-round tourism.
- 6. The property market in Morocco is currently booming and looks set to continue to do so for a considerable time.
- 7. Capital growth is estimated at around 15% - 30%, based on last year´s figures ( Homes Overseas Magazine quotes the growth to be nearer 30%).
- 7. Capital gains tax stands at between only 0% and 20%.
- 9. Inheritance tax is not charged.
- 10. Property tax is not charged during the first 5 years.
- 11. Rental occupancy currently reaches around 85% during peak season and it is set to increase as the Vision 2010 tourism drive continues.
- 12. 70% mortgages are currently available * Vision 2010 to provide additional infrastructure and new roads, marinas, trains, 5 star resorts, shopping malls, beach clubs, thus increasing visitors to the area.
- 13. Stunning golf courses, tennis clubs, riding clubs, waterskiing, sailing, scuba diving, hunting, hiking, camel treks, culture attract all types of tourists and investors alike.
- 14. French, Spanish and English is widely spoken, as well as traditional Arabic.
- 15. The Costa de la Luz is just thirty minutes away by hydrofoil from Tangiers.
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