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Moroccan development a "real incentive" for investors

Article Date : Monday, August 20, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Plans by the Moroccan king to develop the country into a popular coastal resort is expected to attract a number of property developers and investors, it has been claimed.

According to Obelisk International, the availability of low-coast airfares, the country's maturing infrastructure and rising property prices marks Morocco as an emerging market with a great deal of potential.

The firm claims that property experts are predicting house prices will increase by 40 per cent over the next three years, delivering investors a rental yield of approximately ten per cent.

Daniel Shashoua, vice president of property developer Benisha, said: "The Moroccan government's commitment to increase the numbers of tourists is a real incentive for developers and investors alike."

Commenting on the market, Karl Morris, managing director of Simple Overseas Properties, recently said that Morocco offers both buy-to-let and "pure" investment opportunities.

Although still at the emerging stage, the Moroccan property market is beginning to grow "quickly", he added.
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