Morocco: The Top Spot for Real Estate Investment
Morocco is regularly featuring in the list of places from all over the world, ideal for real estate investment. The country’s real estate scene is consistently growing at a healthy rate and is expected to continue the trend in future.
The country gets a makeover
The forecast for a sound growth may come true, as the Moroccan government is going all out to promote tourism industry with infrastructure upgrades and new construction work. Along with enhanced tourist inflow, the government is also encouraging foreign investment in Moroccan real estate. Already many reputed firms in the property development sector have tested the waters in Morocco.
Construction of new airports, motorways, railway stations and port are underway in the country. All these are expected to make traveling to the country and within the country easier and faster. On completion, this is expected to draw in more tourists to Morocco.
A picture-perfect holiday spot
Morocco is a tourist’s paradise with its potpourri culture, rich and varied heritage, numerous white sandy beaches, year-round tropical weather and distinct European way of life. It centralized location on the globe is an added attraction for international tourists.
Morocco opened its skies to European airlines, which has made it possible for them to operate to any airport in the country without restrictions. Various airlines have responded by flying frequently to the Moroccan cities, bringing in more and more tourists in the process.
Potential of real estate investment
The increased tourist flow to the country means that more tourist accommodation is required to meet the demand. This in turn is boosting real estate development beyond the wildest imagination. The government is also doing its bit to attract overseas investment in the Morocco real estate scene.
The Moroccan government has implemented many policy changes to make it easier and profitable for foreign nationals to own property here. Tax waivers are allowed for rental income for the first five years. Low property tax, no inheritance tax and exemption from capital gains for property held for ten years are some of the rewards offered to overseas investors.
The property prices in Morocco beachfront are still hovering in the affordable range. This is a positive attraction to overseas investors, as most of the popular beach properties across the globe are beyond their reach. As developmental activities near completion, the property prices may go up and even reach impossible heights.
Financial institutions of Morocco are helping investors from abroad with easy and simple mortgages. Both Moroccan banks and private lenders give out loans to cover up to 30% of property value. With the support of an experienced and honest real estate agent, a smart lawyer and the right kind of bank, purchasing property in Morocco is cakewalk.
The mortgage option makes it possible for investors with insufficient funds to buy property in Morocco. This, together with high returns from the property on letting it out as vacation rental, make the proposition of purchasing property in Morocco a lucrative deal.
Filed Under: Real Estate Tips
