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Property market moving from Spain to Morocco
Holiday homes and investment property in Spain have been a first choice to many, but buying property in Morocco is emerging as a good investment opportunity.
“Remember Spain, fifteen years ago, when property prices were cheap, demand was increasing year on year and tourism was booming? Investors who were lucky enough to buy property in Spain in the early 1990s saw their investment increase dramatically but those days are far behind us and new investors in Spain must definitely be in it for the long term,” says Louise Hillcoat from Amazing Morocco.
As an expert in the holiday home market Louise Hillcoat knows that investors are always seeking the emerging holiday home property market. Investment opportunities somewhere close to home, culturally similar but excitingly different and with a climate that makes it a preferred holiday destination.
“Consider property in Morocco, just a short hop from mainland Spain, with a better all year round climate than Spain.” Morocco is currently enjoying huge investment in its infrastructure backed by a determination that comes from the top to increase tourism to 10 million visitors per year.
Savvy investors are taking advantage of the economic upturn currently being enjoyed by Morocco by getting in near the start of an investment property market, reminiscent of Spain before the property “boom”. Property in Morocco is set to take on Europe in a big way.
Why is the property market in Morocco so appealing?
Investment opportunities in Spain are very popular for property buyers and investors and this will always be the case. However, the shorter term growth is lower than it was and tax liabilities can be high.
Moroccan property prices on a square metre comparison basis can be as much as 40% lower than mainland Europe but are increasing rapidly.
Property prices in Morocco are still low in comparison to much of mainland Europe but are increasing rapidly.
Many small bespoke, luxury property developers and even some of the large Spanish property companies have now turned their attention to Morocco.
International property purchasers find Morocco increasingly attractive due to consistent capital growth performance in the region of 15% per annum. Add to this the kingdom’s Vision 2010 tourism which is injecting 10 billion Euro in order to attract 10 million tourists per annum. The accompanying opening of the skies to low cost, frequent air routes has brought sharp increase in demand for rental properties which is of course great news for “Buy to Let” investors.
One of the reasons buying property in Morocco is such an attractive investment location is the various tax breaks:
• Low capital gains tax after the property has been held for five years and none to pay after 10 years;
• No property tax for the first 5 years;
• Zero inheritance tax and with
• Predictions of continued growth of 15-30% per annum
(Based on last year’s figures by Homes Overseas Magazine)
Marrakech enjoys the most frequent air routes from the UK and Europe. Its long history of European influence, mixed with exotic Moorish culture, makes Marrakech a favourite holiday destination.
“Today Morocco is a progressive and safe investment target. New government initiatives are successfully improving the infrastructure and tourist economy to create an exciting new emerging market which is only just coming to the attention of shrewd worldwide property investors.
“As with all emerging property markets, it is essential to take advantage of the best prices available to early investors. Morocco property currently offers investors excellent prospects and a perfect early investment vehicle in which to generate good rental yields and excellent capital appreciation,” Louise Hillcoat says.
Holiday homes and investment property in Spain have been a first choice to many, but buying property in Morocco is emerging as a good investment opportunity.
“Remember Spain, fifteen years ago, when property prices were cheap, demand was increasing year on year and tourism was booming? Investors who were lucky enough to buy property in Spain in the early 1990s saw their investment increase dramatically but those days are far behind us and new investors in Spain must definitely be in it for the long term,” says Louise Hillcoat from Amazing Morocco.
As an expert in the holiday home market Louise Hillcoat knows that investors are always seeking the emerging holiday home property market. Investment opportunities somewhere close to home, culturally similar but excitingly different and with a climate that makes it a preferred holiday destination.
“Consider property in Morocco, just a short hop from mainland Spain, with a better all year round climate than Spain.” Morocco is currently enjoying huge investment in its infrastructure backed by a determination that comes from the top to increase tourism to 10 million visitors per year.
Savvy investors are taking advantage of the economic upturn currently being enjoyed by Morocco by getting in near the start of an investment property market, reminiscent of Spain before the property “boom”. Property in Morocco is set to take on Europe in a big way.
Why is the property market in Morocco so appealing?
Investment opportunities in Spain are very popular for property buyers and investors and this will always be the case. However, the shorter term growth is lower than it was and tax liabilities can be high.
Moroccan property prices on a square metre comparison basis can be as much as 40% lower than mainland Europe but are increasing rapidly.
Property prices in Morocco are still low in comparison to much of mainland Europe but are increasing rapidly.
Many small bespoke, luxury property developers and even some of the large Spanish property companies have now turned their attention to Morocco.
International property purchasers find Morocco increasingly attractive due to consistent capital growth performance in the region of 15% per annum. Add to this the kingdom’s Vision 2010 tourism which is injecting 10 billion Euro in order to attract 10 million tourists per annum. The accompanying opening of the skies to low cost, frequent air routes has brought sharp increase in demand for rental properties which is of course great news for “Buy to Let” investors.
One of the reasons buying property in Morocco is such an attractive investment location is the various tax breaks:
• Low capital gains tax after the property has been held for five years and none to pay after 10 years;
• No property tax for the first 5 years;
• Zero inheritance tax and with
• Predictions of continued growth of 15-30% per annum
(Based on last year’s figures by Homes Overseas Magazine)
Marrakech enjoys the most frequent air routes from the UK and Europe. Its long history of European influence, mixed with exotic Moorish culture, makes Marrakech a favourite holiday destination.
“Today Morocco is a progressive and safe investment target. New government initiatives are successfully improving the infrastructure and tourist economy to create an exciting new emerging market which is only just coming to the attention of shrewd worldwide property investors.
“As with all emerging property markets, it is essential to take advantage of the best prices available to early investors. Morocco property currently offers investors excellent prospects and a perfect early investment vehicle in which to generate good rental yields and excellent capital appreciation,” Louise Hillcoat says.