Détails Blog

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Much better under the conditions of global recession, Morocco is today one of the most stable economies in northern Africa. A young and progressive king, Mohammed VI enthusiastically engaged in economic development and changed laws to facilitate real estate investment for foreigners, offering a wide range of tax incentives such as a minimum income tax, a estate tax and no property tax for the first five years.

Its ambitious tourism project, Vision 2010, aims to attract 10 million visitors a year to the country where English, French and Spanish are widely spoken. He is also responsible for an extensive resort development program, such as the flagship Mediterranea Saidia on the north coast.

Over the past decade, housing prices have more than doubled in Morocco, particularly in the popular cities of Tangier, Marrakech, Fez, Rabat and Casablanca. Buyers have the choice between an older property, such as a traditional Moroccan town house or a “riad” located in the medinas of old towns, or a European colonial style house (high ceilings, cold spaces, shutters , landscaped gardens)) normally found in special landscaping areas on the outskirts of cities or in a property located in one of the large Mediterranean-style resort complexes with amenities such as swimming pools, shops and restaurants.

A property in need of renovation can cost from £ 50,000, while a refurbished riad can cost you between £ 150,000 and over a million pounds. But the Shaw company can guide potential buyers through the process. “Elite Morocco Properties has a team dedicated to finding the best riad opportunities and we can help you with everything from legal advice to renovation, management, rental and even the sale of your finished riad.”

According to Michael Kent of Moroccan Sands, the real estate company that markets the Blue Pearl Golf Resort in Saidia, no matter where and what you buy, be sure to take good advice. "It is fairly simple to buy property in Morocco and there are good tax benefits," says Kent, "but be sure to hire a good local independent lawyer familiar with the Moroccan system. You also need to make sure that all the payments you make for the goods go to Morocco. This greatly facilitates the repatriation of profits. ”

The flagship Moroccan tourism project Plan Azur offers a luxury hotel complex located in the development of Saidia, supported by the government, which has contracted clauses to cover any default by promoters. There is also a 15 year non-construction warranty on the surroundings, so that the value of the properties cannot be diluted by copied developments. With shops, restaurants, sports and leisure facilities, marinas, golf courses, landscaped gardens and of course miles of beaches, Saïdia is at the center of the King's Vision 2010 program. He often goes to follow his progress. A variety of house styles are available, from apartments to penthouses to villas, from around £ 100,000.

In the case of budgeting, for a property of £ 100,000 for example, you should allow around 6 to 7% to cover stamp duties, attorneys' fees and notary fees, registration fees and costs. agency. Morocco therefore seems ideal for the British looking for a guaranteed winter sun, with constantly improving air links, a glorious climate all year round and an exotic and colorful culture