Morocco seeing a rush of overseas investors

Foreign investors are moving fast to take advantage of a limited supply of Riads in Morrocco, it has been claimed.

Property portal Property Abroad has reported a surge in demand for the houses - which have gardens indoors - due to the fact that they are in such short supply.

Investors are able to take advantage of competitive deals for the Riads something which is further enhanced by the cheap cost of labour and materials in the North African country, making renovating an attractive choice for many.

The website highlights the fact that they are a popular rental option stating that "Moroccan Riads fetch as much and often more in rental rates than the swanky new apartments".

As a country Morocco presents great potential, it economy grew an estimated five per cent in 2009 and with further plans to boost tourism there in 2010 more growth is expected.

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

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