Morocco Real Estate News and Property Market Trends

The coastal destinations of Morocco have achieved the accolades of being the tourist hotspot for international tourists.

The vast majority of tourists and residents come to Morocco to laze about on the beach and in the coastal resorts. The fabulous climate all through the year and its picture perfect beaches has been highlighted as the main reasons for its popularity among holidaymakers, allowing them to spend the winter months relaxing on a beach. A visit to Morocco also has a number of other benefits, such as the chance to experience an exotic culture.

The increase in tourism drives the real estate market in Morocco as International visitors to Morocco were increased to 13% in 2007 and have led to increased need for rental properties in the country. Fleewinter.com stated that the proximity to beach maximizes the appeal of a rental property to visiting leisure travelers.

European tourists are venturing beyond Spain to areas like Costa Vista which indicates that Morocco could soon outshine many established European markets. Morocco also offers a wide choice of homes at affordable prices and it is perfect for different types of buyers, such as holiday home buyers and property investors.

East accessibility makes it much easier for holidaymakers to explore the region, potentially making it a more attractive destination for foreign property buyers as well. Therefore, Alisdair Luxmoore has suggested that prospective investors look at coastal areas in easy reach of international airports, such as Marrakech.

Statistics show that the largest group of foreigners to visit the country are French followed closely by Spaniards. Due to increased tourism, the Minister of Moroccan Tourism and Craft Industry stated that tourism is now the chief source of investment and job creation.

Popularity: 3% [?]

Official figures have revealed that visitor numbers in Morocco have gone up during the last 12 months. Foreign visitors are generating increasing amounts of wealth for the Moroccan economy.

Official figures recently revealed that during 2007, Morocco has attracted more than seven million foreign vacationers, although the government aims to increase the annual tourist numbers to be over ten million in 2010. The United Nations World Tourism Organization has stated that the number of international tourist arrivals in Morocco went up by more than ten per cent year-on-year during the first five months of 2008.

The Global Property Guide believes that growth in tourism “invariably” attracts the attention of overseas property purchasers and leads to a surge of interest in a tourism related real estate market.

Moroccan government is aiming to attract affluent property purchasers by investing in infrastructure improvements, new transport links and vacation facilities. The Extensive redevelopment should considerably raise the investment potential of the country, as demand for property is expected to grow.

The demand for commercial and residential premises is increasing in line with demand from tourists and expatriates for services and facilities. As a result, Morocco is considered a sound investment option by foreign investors who are planning to purchase a rental property overseas. Additionally, this could also lead to increase in property values and investors would be able to collect the proceeds of substantial capital growth.

This comes after a recent survey conducted by property investment magazine Jet-to-Let which revealed that Morocco is the sixth most popular country for prospective foreign property investors in 2008.

Popularity: 5% [?]

The official data from Industry and Services Chamber, Morocco showed that tourism went up by 21 per cent between 1995 and 2005. The majority of the tourists are from European nations, especially France, Spain and the UK.

Holidaymakers are recommended to visit the thriving tourist destination of Tangier in northern Morocco and it is one of the most important seaport cities in the country. Tangier is one of six Moroccan locations identified by the government as a part of its initiative to transform the country into a major tourist destination.

The planned infrastructure developments include 600 miles of new roads and a 24-mile tunnel linking Tangier to Punta Palomas in Spain, 25 miles west of Gibraltar. The daily hydrofoil services from Malaga and car ferries from Tarifa are available. The surroundings possess a wide variety of natural landscapes created by the main bay, large valleys, cliffs, plains, undulations and outcrops.

Australian newspaper the Sunday Telegraph has reported that Tangier is among a list of places around the world that are growing in prominence as cultural hotspots. In an interview to the Guardian, Ms Reece of I-escape said that Brits visiting Morocco enjoys the chance to visit areas that are “off the beaten tourist track” and offers year round good weather.

Paul Collins, overseas property editor of BuyAssociation said that the country’s booming tourist market would also help to attract foreign investors during 2008. The large influx of vacationers is likely to give many investors of rental accommodations the opportunity to earn strong rental yields.

Popularity: 13% [?]

Morocco has become a popular destination for lifestyle buyers from the UK, an expert has stated.

According to Currencies Direct, Morocco is an attractive option for expats and holiday home buyers. Mark O’Sullivan, spokesperson of Currencies Direct has commented that many of purchasers are buying homes in the country wish to live on a permanent basis. Morocco is said to be appealing because if offers high standards, high-quality housing and natural attractions such as good weather.

According to a study by Teletext Holidays, overseas investors who purchase property in Morocco will be able to enjoy low living costs. This may be one reason for the growing popularity of Morocco among property investors from UK.

UK-based newspaper the Telegraph said that good transport links and morocco’s emergence as world’s leading holiday destinations also had an impact in this trend. The publication also stated that house prices in Morocco have increased significantly in the last few years, partly because of its popularity as a holiday destination.

The increasing tourist trade bodes well for the country’s rental market and this has caused strong demand for homes in the most desirable areas. Moreover, the growing popularity as a holiday destination resulted in the establishment of new developments and leisure facilities, as well as the regular and affordable flights from the UK.

This follows a report in The Independent which stated that Morocco offers better weather than the UK, as well as affordable house prices.

Popularity: 16% [?]

Prospective investors considering purchasing property for sale overseas have been advised to look at Morocco, a media outlet has stated.

According to the Telegraph, house prices in Morocco have increased considerably in the last few years and the property investor’s benefit from high capital appreciation. Property values in Morocco have risen by 20 per cent in some parts of the country mainly as a result of demand outstripping supply. This indicates that property investors could potentially cash in on the growth of the market, as property in a prime location will be highly desired.

Morocco as a growing market that offers good prospects for investment buyers and  Moroccan property is a smart buy and a sound addition to the property investor’s real estate portfolios. Economics professor Mohamed Saidi explained that this massive rise in Moroccan property prices is due to the limited supply.

The economy in Morocco is continuing to experience growth. The final quarter of 2007, the country’s gross domestic product (GDP) went up by 2.1 per cent. The figures are significant to prospective investors, as the strength of the economy could affect the success of their investment.

Morocco also offers exclusive and attractive locations at a reasonable price and with its tourist numbers steadily going upwards, a property in Morocco would seem to be a sound purchase.

Popularity: 22% [?]

Morocco’s status as a low-cost holiday destination and its popularity among international shoppers is drawing investors to purchase property in the area.

Expedia has stated that Morocco offers a variety of attractions to shoppers who are traveling abroad for holidays and in search of bargains. The international shoppers in Morocco will be highly likely to snap up a number of cheap and discounted items as bartering is common in Morocco. The portal further stated that Moroccan trading habits may be intimidating but eventually it’s a worthwhile experience.

The comments from Expedia could prove to be of interest to overseas property investors who plan to purchase rental accommodation in the country as they offer prospective tenants to investors for the whole year, making it a much more sustainable investment.

Recently Today’s Zaman stated that holidaymakers in Morocco should make sure that they make the time to visit Marrakesh as its offers good value for tourists. According to official figures, tourist numbers in Marrakech have risen by 11 per cent in 2007. Government officials are planning to keep the momentum going by launching an advertising campaign.

This comes after the news that online travel agency Freedom Direct recently stated Morocco has become highly popular with British tourists who wanted a more exotic holiday experience.

Popularity: 25% [?]

Property Investors who are considering purchasing property for sale overseas have been advised to look at Morocco as the value of their homes continues to rise steadily and early investors could also be making a profitable long-term investment.

According to the Telegraph, houses in Morocco are much cheaper than those in neighboring Mediterranean nations and the global credit crunch is not having a negative effect on the economy in the North African nation as prices are still rising at a “remarkable rate”.

Paul Staines, a partner of Newbury-based Saffron Villas, the UK’s leading Moroccan property specialist has said that Morocco could be a good option for people who are struggling to get on the UK housing ladder and also they can take advantage of the low prices available in the country. He further added that the £40′000 for a two-bedroom apartment near Tangier before 6 months is priced £65′000 now and its value will keep rising.

Property experts recommend Moroccan housing market is ideal for overseas property buyers who are aiming to collect healthy returns. Morocco is easily accessible with budget airlines and the year round fabulous weather, while low living costs and ample areas of historical interest makes it an attractive proposition.

Morocco is also realizing its potential as a mainstream holiday home destination, a development which makes them an ideal place for rental investors to consider. The country’s economy is currently benefiting from the performance of the service sector and tourism industry which is a significant issue for overseas property buyers to consider, as a country’s economic performance could determine the success of their investment.

Popularity: 28% [?]

Low-cost airline Ryanair has announced that it is to launch a number of new services to Morocco as it has signed a deal with the Moroccan government to open 20 new and carrying one million passengers within 5 years which is a largest ever single expansion.

The agreement after six months of negotiations and Ryanair will gain access to most regional airports in Morocco. As a result of the new flights, air passengers will benefit from more frequent and easy access to popular Moroccan tourist destinations.

This could potentially impact on demand for rental accommodation in these areas, a development which may be of interest to foreign investors. In addition to this, investors will be flocking to already booming Moroccan housing market because of the large number of low-cost flights to the country, making even earlier undiscovered areas extremely accessible.

Michael Crawley, deputy chief executive of Ryanair has said that this singularly important initiative in the development of tourism and business for the country signifies the confidence of ryanair in the attractiveness of Morocco as a holiday destination. He added that the introduction of the new services displayed the airline’s commitment to Morocco and consumers in the country.

Popularity: 30% [?]

Foreign investors who are considering buying property for sale in Morocco have been encouraged to consider the Casablanca region.

According to Mena Report, authorities in the Casablanca region are actively aiming to entice foreign investors to the country. The various infrastructure improvements and high standard of living has made it an attractive location for people from overseas. Casablanca is good place for businesses to establish themselves as officials have guaranteed a conducive and secure business environment.

Mena Report cited tourism as one of the sectors that is expected to decide the future shape of the economy. The growing popularity of Casablanca as a holiday destination and the huge influx of visitors have called for the need for high-quality leisure facilities, recreational outlets, luncheonettes and eateries. New marketing campaigns are also launched in order to increase the number of visitors next year.

This “strikingly beautiful” part of the north African country offers numerous historical and cultural attractions and has become a hotspot for foreign vacationers. The region also offers a number of financial attractions including rising property values for overseas investors.

The news provider has said that the increasing the tourism market, housing availability, economic growth and expansion is sure to drive the interest in property investment.

Popularity: 31% [?]

Mediterrania Saidia is a significant residential property and tourist complex located in Saidia, a scenic village with a long tourist tradition on the Mediterranean coast of Morocco. Mediterrania Saidia is planned to offer a memorable 5 star luxury experience and is rapidly becoming the most preferred Moroccan property development.

Le Jardin de Fleur Beach & Golf Resort Project will be one of the most exciting and significant additions to the much desired Plan Azur resort. Large number sporting personalities have already indicated their desire to purchase property due to its world class sports facilities. England football stars John Terry, Rio Ferdinand and Gary Neville are backing and investing significantly in the exclusive ‘Le Jardin de Fleur’ development

The developer behind Le Jardin de Fleur Beach & Golf Resort has been awarded the prestigious CNBC Arabian Property Awards 2007. The Le Village de Sport site has Front line golf villas, 50 Townhouses, 144 Apartments and Penthouses, 2500 square meter Casa Club with Indoor pool, lagoon style pools with slide and splash water features and spa facilities.

This exclusive resort is only available through Insight Morocco and its partner company. The payment terms are 20% on Contract, 20% on Start of Construction and remaining 60% on Completion.
The 2 Bedroom Apartments starts from £140,000
2 and 3 Bedroom Townhouses from £145,000
Detached Villas from £245,000

Popularity: 34% [?]