Published on 29 May 2008 at 01:56 pm
Filed in Property News for Morocco » How Important is Property in Morocco?
If you ever wondered whether the property market in Morocco was secondary in any way to the government, to the economy and to the future successes of the nation you would be wrong, and a recent report from MAP (the Maghreb Arabe Presse in Rabat) supports this fact.
It shows how strong a contributor real estate is to the economy in Morocco and so in answer to the question posed in the title of this article, namely ‘how important is property in Morocco?’ the answer is an unequivocal ‘very!’
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There are many complexities to the property buying process in Morocco that an investor needs to be aware of before they even consider entering the market place.
But because of the desirability of property for sale in Morocco an investor should not be deterred from securing their ideal piece of real estate just because purchasing it can take many months and a great deal of paperwork!
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Because Morocco is such an exotic country offering genuine year round sunshine and is in such close proximity to the UK and the European mainland, it is an incredibly attractive country for a property investor to target.
The potential market an investor has to work with is very broad and the long term economic indicators in Morocco point to sustained fiscal growth over the long term. A property investor has immediate access to income in the form of rental returns from the tourism market in Morocco, and strong potential for long term property price growth as the Moroccan economy grows and overseas interest in holiday and retirement property in Morocco intensifies.
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A number of French and Spanish property investors have already discovered the delights of Morocco; and because of the country’s unique position as the shortest haul exotic destination for Western Europeans, a growing international property investor interest is awakening in this stunning North African destination.
The property buying process in Morocco has improved in recent years creating more confidence in the whole sector, and as the Moroccan government are committed to preparing their economy for free trade with the US and EU, the long term prospects for Morocco’s emerging investment real estate market sector are very positive indeed.
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