Selling Property In Morocco

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Forbes magazine recently placed Morocco in its top 10 destinations for buying and selling property. The government has chartered a course for economic growth in the sector and indicators reveal that selling property in Morocco can provide excellent returns.

However, to protect the market from rash speculation and optimise foreign investment, there are several regulations that govern the selling of property in Morocco. Investors therefore should consider consulting a professional when contemplating selling property in Morocco.

Moroccan real estate has many exciting features, and investing there can be very tempting. Investors must consider that foreigners are not permitted to simply buy and then sell land in Morocco. Value addition in the form of a residence or tourist development must be added prior to selling property in Morocco. Moreover, before selling residential property in Morocco, a foreign buyer is required to actually live in the house. The rationale being that prior to selling their residential property in Morocco the investor has brought in some wealth and perhaps encouraged others to visit their holiday home. Whilst the rules for selling property in Morocco may appear stringent, a professional conversant with the local environment will usually work through these easily.

There are several incentives provided by the government for purchasing or selling property in Morocco including:

• Selling property in Morocco attracts low capital gains tax after the property has been held for five years - and none to pay after 10 years.

• No property tax on real estate sold in Morocco within the first 5 years.

• Zero inheritance tax.

• Predictions of continued capital growth of 15-30% per annum
(Based on last year's figures by Homes Overseas Magazine).

In addition to the above, increased wealth in the region, higher tourist inflows and an intensive government effort to spur economic growth, all point to greater returns when selling property in Morocco.