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As overseas property market
widens its net beyond Europe cut price property
has fired interest in
Moroccan investments. The French have been
investing here for years and are currently
buying up distinctive riads at a rate of knots.
Morocco offers a alluring combination of
traquility, balmy climate and exciting
adventure; and with 3500+kilometers of sweeping
coastline of hideaway beaches and spectacular
mountain peaks and ranges contrasting against
labyrinth like medina's and the noise and aromas
of the food souk's, its appeal is clear to see.
Morocco is so close to Europe, just a few
kilometers from southern Spain and easy
connections including a budget airline and
excellent railway infrastructure make the main
resorts accessible. With its
tourist market growing an incredible 18%
last year, continuous improvements to
infrastructure, have made Morocco a property
investment hotspot. Morocco’s visitors are
fascinated by its vast green plains, beautiful
Atlas mountain ranges and living old medieval
cities like Marrakech Chafchouan or Fez and of
course the huge expanse of sand called the
Sahara desert.
Now eager to welcome foreign investment under
the Moroccan government’s Blue Plan, the
government have the following incentives to
foreign investor/buyers, which include:
- 0% tax on rental income for the first 5
years
- 0% capital gains tax if profit is under
the £40K or after 10 years of ownership
- 0% inheritance tax when a property
passes to a family member
- 100% repatriation of funds when you sell
As a result
Morocco property development is underway
with a number of Spanish developers constructing
holiday apartment resorts using the concept of
residential tourism on the Costa del Sol.
Mediterrania-Saïdia is an excellently
communicated project covering over 6km of
stunning coastline, featuring hotels, three golf
courses, a marina, shops, bars, restaurants and
of course, luxury Mediterranean style apartments
and villas. There are quick connections to
Morocco’s main cities and airports of Oujda,
Nador and Melilla.
Marrakech however remains the number one focus
for many buyers. Its lack of coastline is made
up for by numerous attractions including the
nation's best golf courses and hotels, and the
Atlas Mountains on its doorstep.
The financial situation/climate in Morocco at
present is good and it is therefore a logical
choice for an exotic holiday home. With more
flights flying into Morocco, it is easy to get
to from mainland Europe. It is not much further
to fly than Malaga in Southern Spain, the food
and locals are fantastic, but above all it is
cheaper than its competition! |