What Really Makes A Good Real Estate Investment Deal In Morocco
Morocco has become a hotspot for real estate investment. The boom in the tourism sector proves to show a great demand to buy property and rent it out to make huge profits. The government with the backing and support of King Mohammad has launched the Vision 2010 to boost the overall infrastructure to support 10 million tourists per year by the year 2010. There are new resorts coming up, which are planned and promoted by the government as good investment options. People also find Morocco as a good location to build a second or vacation home here. What investment you make now is bound to get good returns over a period of time.
One of the key factors that make real estate investment in Morocco is the excellent capital growth opportunity, which exists here. The major reason behind this is that the prices are highly competitive, around half of those compared with European hotspots like Spain, France and Italy. The rental yields are also expected to generate excellent incomes with the occupancy rates already as high as 85% in the peak seasons. With the pleasant weather conditions throughout the year, there is an inflow of tourists nearly 300 days of the year. Some experts even feel that the estimated rise could be as high as 30% each year. Overall, the real estate market is relatively transparent and in a flourishing state. The overall rules and regulations of the country are planned to make investments and the investors secure. The performance and the security of the Moroccan market make it a highly attractive overseas investment location. Some of the popular investment locations are Tangier, Asilah, Marrakech, Rabat and Fez etc.
There are various investment opportunities where you could grab a good deal. To strike a good bargain is merely a matter of perception, but the overall feeling in the Moroccan real estate market offers pretty good deals, existent even now. You may invest in the properties under the Azur plan, or off plan properties or even the properties, which are available for restoration. You have the options to stay here, as and when you feel like relaxing or rent it out to the tourist that visit the country throughout the year. An advantage of investments here is the built in mortgages that are available for purchases of property. You may get up to 70% of the value of property easily for duration of 15 – 25 years from the Moroccan banks with existent interest rates.
One of the most attractive locations for investment, as well as for tourists is Tangier. The seaside resort property is popular with foreign investors. There are some fine riads, which can be taken up for renovation and then let out to receive good amount of rental income. In cities like Fez, you can find good riads within the Medina, which are very popular. These are mostly inherited by many and can make a good deal, as they may not be priced very high and as there are not many, who would want to be stranded to get signatures and approvals of all those involved. The price may be low and you won’t have many competitors to buy either. The only important thing for you to remember is to have any property registered and a clear title approved on it.
You should make sure of the property title and ensure that you follow all rules and regulations. Depending on your need and budget, you will find worthwhile investment properties throughout the country. It is up to you make a good deal out of it by investing now.
Filed Under: Real Estate Tips
