Real Estate & Rental & Lettings News in Morocco from Propertyshowrooms.com

Domestic demand 'holding up Morocco property market'

Thu, 15 Sep 2011 00:00:00 GMT

Demand among the domestic population in Morocco is helping to boost the country's housing market, one local expert has highlighted.

Nik Kapur, director at M2Morocco.com, explained that this is being further enhanced by foreign investors looking for real estate in Morocco.

And due to the high demand for quality homes, anyone who wants to rent out their property in the nation should be able to find tenants, while the sector itself is also developing, he noted.

"The rental market in the main cities is now starting to mature, with more professional agents and management companies appearing to give investors peace of mind," Mr Kapur commented.

He added that local people are primarily targeting to the low to mid-end of the market, with this particularly noticeable in large urban areas.

Earlier this month, a representative from Aerium Atlas Management told Gulf News that Marrakech is a good location for foreign investors to target.

This is due to its political stability, which is helping the economy to grow and therefore putting it in a "stronger position" than other nations in North Africa.

Moroccan property market 'growing'

Wed, 14 Sep 2011 00:00:00 GMT

Domestic and international demand has helped boost growth in the Moroccan property market, it has been asserted.

Nik Kapur, director at M2Morocco.com, explained that there are an increasing number of opportunities for investors in the country's real estate sector.

He noted that rental values in many of the nation's main cities are continuing to rise, which could bode well for anyone who buys a home with the intention of letting it out.

"Average yields are far higher than can be found in most developed countries and there is strong demand for holiday lettings in tourist hotspots like Marrakech," Mr Kapur stated.

He added that the government is hoping to incentivise real estate investors by offering tax breaks - such as removing capital gains and inheritance tax from properties in the nation.

Earlier this month, a spokesperson for Aerium Atlas Management - which is currently working on four developments in Morocco - told Gulf News that the country has been largely unaffected by the political upheaval taking place in other parts of the Arab region.

As a result, Morocco offers "a safe investment" for those seeking real estate assets in this part of the world, the representative added.

Morocco offers affordable, quality real estate

Thu, 19 May 2011 00:00:00 GMT

Tangier is emerging as one of the more fancied investment destinations for individuals keen to expand their international property portfolios, it has been suggested.

The city is benefiting from a number of large-scale restorations that have taken place which have made it a hotbed for tourism.

Indeed, the tourism industry has contributed to the city’s rapid growth in recent years, with the Moroccan government even expecting the number of tourists visiting the country to reach more than 10 million in the years to come.

The booming holiday trade means that individuals looking to buy property in Morocco have the opportunity to take advantage of the buy-to-let market, with a plethora of reasonably-priced real estate making it a popular location for buyers.

Meanwhile, Philip Arnott, of Morocco Properties, recently claimed that property buyers are looking at prime sites located just on the outskirts of Marrakesh.

He added in an interview with Overseas Property Professional that the strongest growth in the country's real estate sector is within the top end of the market.

Tourism in Morocco predicted to continue rising

Wed, 20 Jan 2010 00:00:00 GMT

Property investors in Morocco will be pleased by news that tourism in the country rose by six per cent in 2009, according to a report.

The figures, released by Reuters, show that despite difficult economic times Morocco was able to increase its visitor numbers to 8.35 million last year.

Government officials are already predicting a further rise of ten per cent in 2010.

Tourism minister Yassir Znagui made the forecast and stated that the country wished to focus its efforts on "sustainable tourism, respect for the environment and a top quality tourism product" in the coming 12 months.

Over the past decade Morocco has more than doubled its tourism income, with investment in holiday accommodation contributing towards its popularity.

Othman Cherif Alami, chairman of Morocco's National Tourism Federation, said: "I think in 2010 we can achieve six per cent growth in foreign currency earnings and get back to the level we were at in 2008."

Last year, Morocco was hailed as Africa's top tourist destination at the annual African Business Awards.

Casablanca 'a hot market'

Tue, 13 Oct 2009 00:00:00 GMT

The property market in the Moroccan city of Casablanca is a strong one that offers good investment prospects, an expert has said.

Jonathan Seale of CBRE told the Times: "In prime central Casablanca you may double your money within ten years."

He noted that the city and Rabat are less dependent on overseas buyers than places like Marrakesh and local estate agents have said prices have not fallen in these cities.

In Marrakesh, however, values became overinflated and a recent drop during the world economic crisis has been a "good thing", according to Elisabeth Ober of estate agency Aylesford International.

The paper said that the best Marrakesh bargains are available in the suburbs.

Morocco is an ideal place for Britons to buy a second home, the Global Arab Network recently stated.

It said that the overall property market and economy has carried on growing through the world economic crisis and should continue to do so as there are plans to increase tourism and investment in the coming years.

Essaouira tipped for Morocco buyers

Sat, 22 Aug 2009 00:00:00 GMT

Those keen on buying properties in Morocco could consider the charms of Essaouira, according to actress Stephanie Beacham.

The Bad Girls star told the Daily Mail she had spent just £25,000 on a small property in the town, which she had then renovated herself.

She stated: "Essaouira is so atmospheric and there is a wonderful cafe culture. There's a market square and craftsmen and rug-makers selling beautiful and authentic things on your doorstep."

The newspaper noted that most Britons in Morocco choose to live in Saidia, Tangiers and Marrakech.
At present, a one-bedroom home will cost around £90,000 and a four-bed house £140,000, Property agent Alisdair Luxmoore told the news provider.

Stephanie Beacham is not the only well-known figure to buy a home in Morocco.

The late fashion designer Yves Saint Laurent owned a house close to Tangiers and it has recently been revealed that this is now up for sale.

Morocco recommended to rental investors-300708

Wed, 30 Jul 2008 00:00:00 GMT

Overseas property investors have been advised to consider purchasing a residence in Morocco.

According to Fleewinter.com, the north African country could be a good investment market because it has a growing tourism sector.

This, it said, means that it offers a strong rental market, as incoming visitors always require somewhere to stay.

As a result, property owners could find themselves in line to enjoy healthy rental yields throughout the year.

However, Alisdair Luxmoore of Fleewinter.com has recommended that investors who wish to make the most of the tourism market would benefit more if they buy a property close to the sea.

He remarked: "If you want a return on your investment, in terms of tourists coming to stay in your place, then being by the coast is an enormous help."

Mr Luxmoore added that an investment property also needs to be located close to an easily accessible area, such as Marrakech.

Morocco attracted a record number of people last year, as about 7.4 million tourists chose to visit the country.

Visit our off-plan property Morocco page

Buy-to-let investors pointed towards Morocco

Wed, 30 Jul 2008 00:00:00 GMT

People who plan to invest in a buy-to-let property overseas have been advised to consider purchasing in Morocco.

According to Fleewinter.com, the north African country currently has a growing tourism industry, which means that rental demand is very strong.

Therefore, owners of a buy-to-let property in popular tourism hotspots could be able to benefit from considerable rental returns.

However, the website has advised that if people wish to make the most of the potential the market currently offers, they should invest in a property near the sea.

Alisdair Luxmoore, spokesperson for Fleewinter.com, said: "If you want a return on your investment, in terms of tourists coming to stay in your place, then being by the coast is an enormous help."

He added that a property's rental potential could also be maximised if they buy in a place which is easy to reach, such as Marrakech.

According to official figures, more than seven million foreign leisure travellers visited Morocco in 2007.

Credit crunch 'not affecting Morocco'

Thu, 24 Jul 2008 00:00:00 GMT

A property analyst has claimed that Morocco is not being negatively affected by turbulence in the global economy.

According to Dominic Farrell, editor of Jet-to-Let magazine, the ongoing credit crisis is mainly affecting countries such as the UK, the US and Ireland.

By contrast, many financial institutions in Morocco are still apparently lending money to customers.

Commenting on this trend, Mr Farrell said it is because banks in the north African nation has been relatively unexposed to global economic problems.

This could partially explain why foreign markets are currently seeing a surge of interest among British property buyers.

"I have definitely seen a sharp increase in the amount of interest from potential investors over the past six months," Mr Farrell committed.

Speaking to the Liverpool Daily Post, he added that many people are unable to enter the British market and are seeking alternatives as a result.

According to Currencies Direct, many of the people who are buying homes in Morocco are those who wish to live abroad on a permanent basis.

Morocco recommended to investors

Thu, 10 Jul 2008 00:00:00 GMT

Overseas property buyers have been encouraged to consider buying a property in Morocco.

According to the Global Property Guide, the housing market in the north African nation is likely to expand further over the next few years.

The website has attributed this to continuing growth in the Moroccan tourism sector, as authorities are actively aiming to attract more holidaymakers to the country.

In fact, the government has set itself the target of increasing annual visitor numbers to ten million by 2010 - up from 7.4 million last year.

The Global Property Guide believes this will have a profound impact on the housing market, as the influx of extra tourists will create the need for new leisure facilities and housing.

Furthermore, the demand for rental accommodation should also go up, thereby stimulating the country's buy-to-let sector.

"Tourism almost invariably brings increased interest in buying in the country," the website commented.

Britons move abroad to escape economic crisis

Thu, 12 Jun 2008 00:00:00 GMT

Economic problems in the UK are contributing to a surge in the number of people moving abroad.

According to the Office for National Statistics, more than 200,000 British nationals chose to pack their bags and relocate in 2006 - a record amount under the current measuring system.

However, BuyAssociation has revealed that during the last year, it has seen a seven per cent increase in the number of enquiries into emigrating to another country.

Speaking to the Telegraph, property editor Paul Collins said this is partly because of the continuing economic difficulties in Britain.

Mr Collins said the ongoing financial problems have led to many people making "decisions about their future that they have been considering for some time".

He added that a growing number of people are choosing to settle in non-European destinations, such as Morocco.

The country was said to offer attractions such as new property developments and good governance.

This comes after FinancialAdvice.co.uk said more and more expats from the UK are moving to long-haul destinations.

Fishing ports proving popular with visitors and investors in Morocco

Wed, 11 Jun 2008 00:00:00 GMT

Small fishing ports on Morocco's Atlantic coast are attracting a large number of Spanish tourists who are swelling the demand for holiday rentals...

Investors advised to consider Moroccan market

Thu, 22 May 2008 00:00:00 GMT

Overseas property investors have been advised to enter the Moroccan market sooner rather than later.

According to property expert Fouad Akalay, the north African country is currently enjoying considerable growth in its tourism industry.

Speaking to the Telegraph, he stated that this has had a direct impact on its housing market, as it has triggered a property boom.

This means that investors who purchase a residence in Morocco can expect their acquisition to go up in value relatively quickly.

As a result, they could potentially make a considerable profit should they choose to sell up at a later date.

However, this also means that investors who enter the market earlier will benefit the most, as houses will still be fairly cheap if they do not delay.

Mr Akalay commented: "Early investors should expect capital growth of 20 to 30 per cent for the next several years."

This comes soon after NuBricks.com described a property in Morocco as "a smart buy".

Morocco offers strong rental market

Thu, 10 Apr 2008 00:00:00 GMT

Foreign property investors who are seeking a lucrative buy-to-let investment could find Morocco a suitable location, according to industry experts.

NuBricks.com said the tourism sector in the north African country is "on the up" and has witnessed some "impressive growth" in recent years.

This was largely attributed to efforts by the government to boost the desirability of the nation to foreign leisure travellers.

Authorities have recently pumped money into new buildings, leisure facilities and infrastructure upgrades in order to make Morocco more appealing to holidaymakers.

However, this is also leading to additional interest among foreign property investors, many of whom believe the strong tourist trade is creating strong rental potential.

NuBricks.com remarked: "Overseas property investors will not be short of reasons why Moroccan property is a smart buy and a sound addition to their real estate portfolios."

This comes after the Foreign Property Buyer website said that the government's plan to increase the number of visitors to Morocco over the next two years "bodes well" for its rental market.

Morocco appeals to different types of buyers

Mon, 3 Mar 2008 00:00:00 GMT

Morocco is appealing to a broad spectrum of overseas property buyers in the UK, according to experts.

Independent analysts Amberlamb stated that the north African country is currently attracting an increased amount of interest from British-based investors.

The organisation said Morocco is very popular with people who want a residence for their own personal use, such as holiday home owners and expatriates.

However, it pointed out that the destination was also proving to be an appealing location for investment buyers as well.

Amberlamb said the country now accounts for one in five properties in Africa that are owned by Britons.

Commenting on its appeal, the group remarked: "This proves that the nation is of serious and increasing interest to UK-based purchasers."

This comes after the Foreign Property Buyer website said that government plans to increase the number of visitors in Morocco over the next two years "bodes well" for its rental market.

New flights to boost Moroccan tourism

Mon, 4 Feb 2008 00:00:00 GMT

Owners of property in Morocco could see a surge in demand for rental accommodation this year.

This is due to the introduction of a new flight between Madrid and Tangiers by low-cost airline easyJet.

The service should open up the north of Morocco to consumers in Spain and mainland Europe and potentially boost tourism in the region.

In addition, the launch of flights in Tangiers should also enhance the appeal of the region among overseas property buyers, particularly as growth in the tourist trade increases the likelihood of collecting strong rental returns.

Several flights to Morocco are already operated by easyJet from a number of different European cities, including services to Marrakesh from Gatwick Airport in London and the French capital Paris.

However, this service marks the first time that the carrier has offered people direct passage to Tangiers.

Different Nationalities 'Head to Morocco'

Wed, 30 Jan 2008 00:00:00 GMT

Holidaymakers from Europe are increasingly choosing to spend their leisure time in Morocco, a government official has stated.

Tourism minister Mohamed Boussaid said the overall number of visitors rose by 13 per cent to 7.45 million last year.

Speaking to the Maghreb Arabe Presse, he revealed that many of these people had come from various European countries.

According to official figures, 2.85 million French consumers visited Morocco last year, along with 1.6 million Spaniards.

Meanwhile, the country was also found to have attracted a large number of Belgians, Germans, Italians and Britons.

Commenting on Morocco's tourist sector, Mr Boussaid said the recent growth was proving to be a major economic boost.

He stated that the increase in visitor numbers was leading to the creation of new jobs and contributing a significant amount to the national gross domestic product.

This comes at the same time as figures from the UN World Tourist Organisation which showed that Africa as a whole attracted 44 million leisure travellers last year.

Growing Moroccan tourist trade benefits investors

Thu, 13 Dec 2007 00:00:00 GMT

Investors in the Moroccan property market are currently benefiting from increased tourism in the country.

According to official figures, the north African country is attracting millions of visitors from European countries such as France and Spain.

In addition, Morocco was also found to be highly popular among people from the UK, Italy, Germany and the Netherlands.

The country's broad appeal will be good news for people affiliated with its tourist sector, such as owners of holiday accommodation.

Property investors also received a boost from the news that during the last year, visitor numbers have increased by 14 per cent.

This means that the demand for holiday homes in Morocco is increasing, therefore creating new investment opportunities in the country.

The government has made tourism a major priority in the last few years, as it is highly lucrative for the economy.

Magharebia.com recently cited official figures showing that the sector had generated thousands of new jobs in Morocco and accounted more than half of overall government investment.

Overseas home purchases 'driven by investment hopes'

Fri, 20 Apr 2007 00:00:00 GMT

A total of 53 per cent of Brits who buy a property overseas do so for investment purposes, a new survey has revealed.

According to joint research by Savills and holiday-rentals.co.uk, investment motives are a key driver in the acquisition of an overseas home, with rental potential being the most important financial consideration.

Many investors are trying to break into countries with emerging tourist destinations, such as Morocco, as this allows them to benefit from strong capital growth.

Lucian Cook, director of research at Savills, said: "With this in mind, purchasers are increasingly looking further afield to emerging coastal destinations where entry into the overseas homeownership market currently is more affordable."

The study also revealed that 49 per cent of respondents are funding their acquisitions through mortgages.

It was recently reported in the Independent that a record number of Brits are buying property in Morocco and enjoying capital gains of more than 20 per cent a year.

Tourism Earnings Up In Morocco

Wed, 22 Nov 2006 00:00:00 GMT

As investors watch and wait for Morocco's Vision 2010 plan to come to fruition, it has been announced by the Ministry of Tourism in Rabat this month that income from Morocco's tourism industry's has reached a new high, after increasing by 25.8% during the first nine months of 2006.

Flight passenger numbers for the same period increased by 9% while bed occupancy rates crept up from 49 to 50% this year. As a result, estimated tourism earnings in Morocco will amount to between 4.1bn€ and 4.5bn€, against 3.7€bn in 2005, said the Ministry. It added that tourist numbers would reach 6.5 million for 2006, up from last year's 5.8 million visitors.
As part of the Vision 2010, Morocco plans to encourage 10 million tourists by 2010.

The Moroccan government is currently implementing major changes to the country's infrastructure and developing a large number of giant tourist resort projects in full preparation for this anticipated growth. Property investors in Morocco will be nicely encouraged by the new figures.

NON-TAXPAYERS BEWARE!

Sun, 7 May 2006 00:00:00 GMT

So you've got a nice little income going into an offshore account from your holiday home rentals abroad, right? Well, from now on, the taxman can gain information on your rental income and enforce heavy penalties for non payment of tax. Unfortunately overseas property owners can no longer assume they will not be found out. In an announcement last week, Gordon Brown passed a new ruling to avoid an estimated £1.5 billion loss in revenue due to unpaid tax each year, while the money sits apparently hidden in offshore accounts worldwide. Brown reminds us that while having an offshore account is by no means illegal, it is never acceptable to conceal the interest earned. Anyone who has been practicing this otherwise illegal and lucrative non-declaration of tax could be liable for tax at 40% plus penalties of up to 100% on profits made. It is estimated that some 750,000 British property owners with homes overseas could end up with a hefty tax bill. Moroccan buy-to-let opportunities are proving highly lucrative to those investing in holiday properties, while Morocco benefits from a dual tax treaty with the UK. You would be well advised to check which other countries also have dual tax treaties with the UK before making your investment and at least avoid being clobbered for tax in both countries…