Today Morocco is a promising emerging market and a huge growth in developments to the region is living proof of this. The Moroccan government's commitment to increase the numbers of tourists is a real incentive for developers and investors alike
London, UK (PRWEB) August 18, 2007
The Moroccan King has currently invested £2.2 billion in developing up-market coastal resorts, including hotels, villas, apartments, golf courses and marinas. The country's infrastructure is maturing well with expansion of airports and new road systems, plus within three years, Morocco will become accessible via an under water train link from San Pedro in Spain.
Budget airlines are also aiding the increasing interest in Morocco property investment stimulating tourism and economic growth. Low cost airlines such as easyJet and Monarch both fly to the North African country with many other economical carriers following suit.
Some property companies are promoting Morocco as the next Spain; however being branded the new Spain is the last thing the Moroccan government wants. They have made plans to turn their coastline into a non high rise, aesthetical pleasing destination with the emphasis on environmental care. As the country offers everything from economical apartments to million pound villas, Morocco property investment is attracting all types of investors, from the first time buyer to the more seasoned investor, all of which are keen to tap into this emerging market.
Morocco property investment is proving to be very lucrative with prices doubling within a year, and according to property reports, property price growth is set to continue well into next year. Property experts predict growth figures of 40% within the next three years with a rental yield of 10%.
As established markets, Marrakech and Casablanca are among the country's strongest investment areas. As Morocco boasts 3,000 miles of coastline, developers are now looking across the country to build within the various emerging hotspots. Morocco property investment also provides investors with exceptional tax advantages including no tax on rental income within a 3 year period, a double tax treaty with the UK and no inheritance tax.
The main surge of interest is for off-plan developments, set to breathe life into Morocco's coastline. For early investors, who take advantage of the off-plan investment opportunity, even a short term hold is sure to provide high profits. Morocco also provides tax benefits for the long term investor, making it the ideal place to build a property portfolio.
"Today Morocco is a promising emerging market and a huge growth in developments to the region is living proof of this. The Moroccan government's commitment to increase the numbers of tourists is a real incentive for developers and investors alike," said Daniel Shashoua, vice president of property developer, Benisha.
For more information on property investment in Morocco and to find out about Obelisk International's latest global projects, contact: Obelisk International on 0808 1600670.