Imminent Moroccan property boom lures savvy investors
Property prices in Europe have risen to dizzying heights in recent years, forcing investors to look to new markets that promise a potentially far greater return. This is no secret of course, but what few people realise is that Morocco is perfectly poised to fill the void and establish itself at the forefront of the emerging general property and ‘buy to let' investment markets.
Multi billion dollar Moroccan Government Investment Initiative
As www.property-in-morocco.eu reports, a recent multibillion dollar initiative called ‘Vision 2010', headed by King Mohammed VI himself, aims to dramatically increase Moroccan tourism by 2010 and is expected to result in a corresponding surge in the demand for rental accommodation.
For anyone looking to purchase property abroad as a ‘buy to let' investment, or even just as a pure investment, the timing could not be better!
With its lovely Mediterranean climate, beautiful sandy beaches, and impressive touristic facilities that include top class golf courses and luxury resorts, Morocco is quickly being dubbed the ‘New Spain'.
Prices as much as 50% lower than mainland europe |
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However, property prices are currently as much as 50% less than in other European resorts – starting at around €100,000 (£70,000) – and property value is appreciating at a formidable rate of between 15% and 30% per annum. This makes Morocco property investment one of the most attractive opportunities around, particularly for those who get into the market at an early stage.
Rental occupancy in Morocco reaches 85% most years during the peak season and is expected to get even better, with the Vision 2010 project designed to increase tourism by 10 million each year – that is faster than accommodation can be built.
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This means that investors who intend to follow the ‘buy to let' investment strategy are practically guaranteed to cover mortgage repayments by renting their property, and possibly even generate extra income to boot.
Morocco is not simply after numbers, however.
The Vision 2010 project is seeking to attract upmarket tourists by investing billions of dollars to upgrade the country's transport network and build more leisure facilities, including yacht marinas, 5 star resorts, golf courses and beach clubs.
Morocco is in fact being transformed into a unique destination with a prized combination of luxury and low cost of living – a place where visitors can truly indulge themselves at little expense. |
Attractive Tax Exemptions on Property in Morocco
To make an already attractive proposal even more irresistible, the Moroccan government is offering numerous additional incentives to property investors, including:
- a 3-year exemption from income tax on revenue from property rental.
- a 5-year exemption from property tax.
- 0% inheritance tax when property is left to family.
- a low capital gains tax rate of 20% that drops to 10% if the property is sold after 5 years and to 0% for property sold after 10 years.
With all this going on just a stone's throw away from Europe, it is only a matter of time before the Moroccan property market takes off in earnest, as more and more investors flock to claim their own slice of the pie. Morocco is on the verge of a lucrative property boom and – as is usually the case – it will be the early birds who snap up the juiciest deals.
Visit www.property-in-morocco.eu to learn how you can take advantage of the highly-promising Moroccan property market, backed by billions of dollars worth of investment.
You will also find the latest news on select property developments, as well as details on how you can join one of our VIP property inspection tours. |
