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Credit crunch 'not affecting Morocco'

Date : (News Section: Morocco)

Credit crunch 'not affecting Morocco'

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.


Article by +Steve Binge on behalf of

Read More

  1. 10 February 2014 - Moroccan Govt to Build Affordable Housing Options
  2. 08 November 2013 - Target UK holiday let market in Morocco
  3. 12 September 2013 - Could the Moroccan property market experience a Spanish invasion?
  4. 16 January 2013 - Is tourism harming the Moroccan property market?
  5. 06 December 2012 - Moroccan property market holding firm

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