Moroccan Property

Stepping back in time is not something solely confined to science fiction – by simply taking a stroll along any open air bazaar in Morocco you are instantly transported to a world far removed from what many westerners are used to. The scene you may have seen on film many times before, but nothing can prepare you for actually being there - street vendors vie for your attention; the scents of various spices fill your nostrils; the sounds of street performers soar into the air as your gaze is diverted this way and that…Morocco stimulates body, mind and soul at every step, and it makes you feel alive.
Morocco’s great appeal, however, lies in its diversity. From the earthy streets of Tangiers and Fez, to the palm tree-lined boulevards of Casablanca and Rabat, Morocco offers something for everybody. With a Nikki Beach resort recently opened in Marrakesh, Morocco has made its intentions clear – it wishes to appeal to a wide range of investors, catering for the wealthy high end market, while also delivering a variety of more affordable projects, particularly in the new Mediterranean Saidia development.

Capital City: Rabat
Population: 31,000,000
Time Zone: GMT
Country dialling code: +212
Currency: Moroccan Dirham

Climate: Morocco’s climate is invariably warm and sunny, although it does differ from region to region. The Mediterranean coastline to the north is similar to Southern Spain, with hot, dry summers and mild wet winters. Inland can become uncomfortably hot during summer, while the southeastern desert areas can drop below freezing in the winter.

Getting There: Travel to Morocco is becoming easier each month, with more and more low cost airlines opening routes there, including, most recently, EasyJet and Ryanair. The UK and Spain are particularly well serviced, with regular flights to Marrakesh, Casablanca and Rabat from most major airports in England, Scotland and Ireland.

Special Features: Morocco is the only country in Africa that is not a member of the African Union. It is, however, a member of the Arab League. Morocco received independence from France in 1956; French remains the most widely spoken language in the country.

Buying Property in Morocco: Close to Spain, and offering a slightly better climate than its northern European neighbour, Morocco is certainly an appealing destination for the property investor. With many of Spain’s large developers now building there at lower costs, the build quality is indisputable while the prices are, at times, exceptionally low.

The Moroccan government, having looked enviously at the developments occuring in Dubai, have made great strides towards attracting the foreign investor, with the aim being to attract over ten million tourists a year by 2010. Mediterranean Saidia on the northern coast is the most ambitious project currently under construction, stretching a good ten kilometres along the coast and boasting a wide array of property types, restaurants, bars, sports facilities and golf courses. Everything, in fact, you could want from an all-inclusive residential village, can be found at Mediterranean Saidia. From bargain one bedroom apartments to splendid and spacious villas, whatever your property purchasing needs, Mediterranean Saidia is bound to cater for them.

With low property taxes, capital gains of up to 15% throughout 2008 and an excellent location at the foot of Europe, Morocco is set to become one of the strongest overseas property markets in the world over the next few years. Properties for sale on Morocco’s northwest Atlantic coast can be snapped up for as little as £45,000 (approx €62,000), but expect to pay slightly more on the Mediterranean coast and in the large cities, such as Casablaca, Marrakesh and Rabat.