Morocco Real Estate News

The Moroccan government is doing all it can to ensure the country remains an attractive proposition for international investors

According to Global Property Guide, the government is actively promoting Morocco as a holiday destination and investing in a series of infrastructure improvements to accommodate the extra visitors. The government has been funding the construction and renovation of roads, airports and ports in the country. This could create a number of investment opportunities across Morocco during the intervening period, as new homes are being created and work to improve its infrastructure is being carried out.

The government believes this investment in the tourism industry will also lead to the creation of 600,000 new jobs. Dubai-based real estate giant Emaar believes it will have another positive effect. A spokesman for the company told that Morocco is a “promising market” and that the 2010 Vision would help investors in the Moroccan market. He added that the company’s projects in Morocco … are principally led by tourism, and as such they have strong growth potential, according to Arabian Business reports.

As a result, many areas are becoming more desirable to both lifestyle buyers and those who could benefit from investing in the country. Homes Overseas magazine said this is pushing up property values in Morocco, adding that this trend is likely to continue.

The publication remarked: “Expect prices to appreciate considerably over the next few years.”

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Morocco is becoming more accessible thanks to low-cost airlines, and as the tourism increases, so do the potential revenues from property investment. The number of tourists has increased by 6 percent last year despite the global economic crisis. The figures, released by Reuters, show that despite difficult economic times Morocco was able to increase its visitor numbers to 8.35 million last year. By comparison, similar holiday destinations such as Spain and Tunisia saw the numbers of visitors decline. Government officials are already predicting a further rise of ten per cent in 2010.

Tourists to Morocco have a wider choice of fantastic beach locations. For the outdoor-adventure types, it is even possible to ski and snowboard up in the snow-capped Atlas Mountains. There really is a huge amount of different activities to participate in and it’s easy to see why Morocco is becoming one of the most popular holiday destinations around.

For overseas property investors this is excellent news at it means there is plenty of demand for holiday homes, meaning property prices are growing steadily, rental yields are likely to be amongst the most stable and dependable.

Meanwhile, Tourism minister Yassir Znagui made the forecast and stated that the country wished to focus its efforts on “sustainable tourism, respect for the environment and a top quality tourism product” in the coming 12 months.

In related news, overseas property portal Buy Association said that capital gains of up to 35 per cent are possible in Morocco. The portal noted that the Moroccan government has been taking action to help boost the economy and property sector, including providing financial incentives for Moroccan expats to buy houses in their homeland. The expanding economy is being aided by investment in tourism infrastructure and high-speed rail, something that could interest those looking to invest in tourist property.

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Property investors in Morocco will be pleased by news that Morocco is becoming more accessible to holidaymakers looking for sun, sea and sand, according to a report.

New roads, new air services with Royal Air Morocco Air Arabia and Morocco, Changes to air duties for people traveling from the European Union mean that flights to Morocco will be cheaper this summer than in 2009, all making 2010 Morocco a more attractive and accessible destination. Low cost airlines including Ryanair and EasyJet have increased flights to Marrakech, Casablanca, Tangier and Agadir making the country increasingly accessible from the UK and the rest of Europe and, therefore, attracting all investors.

The Moroccan government is spending billions developing the country’s supporting infrastructure in recognition of its increasing importance on the tourism and investment map. Moroccan property has soared in popularity more than three-fold over the past year amongst high end International investors. And both the short and long term prospects for the Moroccan property market continue to be very positive. With prices in the country much lower than in the EU or UAE on average, property buyers can bag themselves a bargain and forecast profitable returns on their financial outlay.

Commenting on the increase in popularity of Morocco and Turkey in recent months, travel expert Simon Calder said: “Certainly Turkey and Morocco are becoming more accessible thanks to the increased number of flights but most of those are aimed at those who just want sun, sand and sea.”

Meanwhile, the president of the Tourism Monitoring Centre, Kamel Bensouda, believes that Morocco has a number of advantages as a tourist destination. “Morocco is a nearby destination for European travelers in particular and offers a high-quality product, attractive prices and short vacation packages.”

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Moroccan tourism is still on the increase despite the global economic slump and the country is modernizing itself for an influx of tourists from Europe as holidaymakers opt for the country over more expensive, far-flung destinations.

According to Morroconewsline.com reports, a blizzard of tourism-related developments is underway in 900 years old city of Marrakech, even in the midst of the economic recession. The construction boom comes after an ambitious plan launched by the king almost a decade ago to increase tourism by enhancing tourism infrastructure and ratcheting up promotion.

A who’s who of luxury openings in 2010 include hotels flying the Mandarin Oriental and Beachcomber flags and ultra deluxe Royal Mansour, owned by the Moroccan king. Other hotels in the pipeline include a W Marrakech a Four Seasons, a Raffles, Park Hyatt and Inter Continental. Much of the growth is along the country’s Atlantic coast, with major developments, such as the 600-acre Mazagan Beach Resort, which opened Oct. 31 south of Casablanca.

Mr. Mohammed Boussaid, tourism minister said that he is convinced that the country can profit from the current economic crisis and his comments are supported by figures released by tourism department which shows increase in tourist numbers. Overseas investors are considering making purchases in the country may be encouraged by Mr Boussaid’s comments and invest in homes in the area to potentially benefit from the steady flow of tourists.

Locals like Youssef El Alaoui, a tour guide whose family has lived in the medina of Marrakesh for seven generations said that modernizations of cities is doing good to property market in the country. “They’re doing magic here. It will be magnificent,” El Alaoui says. “Marrakesh is losing its heart in one way: It’s busier. There are too many cars. Still, these beautiful houses are being given another chance, and that helps save the city.”

Popularity: 11% [?]

Moroccan tourism is still on the increase despite the global economic slump and the country is modernizing itself for an influx of tourists from Europe as holidaymakers opt for the country over more expensive, far-flung destinations.

According to Morroconewsline.com reports, a blizzard of tourism-related developments is underway in 900 years old city of Marrakech, even in the midst of the economic recession. The construction boom comes after an ambitious plan launched by the king almost a decade ago to increase tourism by enhancing tourism infrastructure and ratcheting up promotion.

A who’s who of luxury openings in 2010 include hotels flying the Mandarin Oriental and Beachcomber flags and ultra deluxe Royal Mansour, owned by the Moroccan king. Other hotels in the pipeline include a W Marrakech a Four Seasons, a Raffles, Park Hyatt and Inter Continental. Much of the growth is along the country’s Atlantic coast, with major developments, such as the 600-acre Mazagan Beach Resort, which opened Oct. 31 south of Casablanca.

Mr. Mohammed Boussaid, tourism minister said that he is convinced that the country can profit from the current economic crisis and his comments are supported by figures released by tourism department which shows increase in tourist numbers. Overseas investors are considering making purchases in the country may be encouraged by Mr Boussaid’s comments and invest in homes in the area to potentially benefit from the steady flow of tourists.

Locals like Youssef El Alaoui, a tour guide whose family has lived in the medina of Marrakesh for seven generations said that modernizations of cities is doing good to property market in the country. “They’re doing magic here. It will be magnificent,” El Alaoui says. “Marrakesh is losing its heart in one way: It’s busier. There are too many cars. Still, these beautiful houses are being given another chance, and that helps save the city.”

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The tourists visiting Morocco are up by 6% in October when compared to same period last year and a total of 7 million tourists visited Morocco in the year to October.

According to the Moroccan tourism authorities, The French came first with 2.6 million, followed by Spaniards (1.5 million), Belgians (398,000), Germans (358,000) and Brits (297,000). The rise had no impact on the number of overnight stays which slipped by 2%, due to the decrease posted by the French market (-5%) and the British (-18%), which represent 81% of the drop. As for the Spanish and Arab markets, they showed a rise of 3% and 4% respectively.

Tourism Minister Mohamed Boussaid told Morocco’s second national TV channel (2M) that Morocco has been able to shun the crisis thanks to the quality and the diversity of its product and the promotion of domestic demand.

“Investment dynamics and investors’ confidence in Morocco’s tourism show that the sector can further develop,” Mr.Boussaid added. With tourism and development at the top of its agenda, Morocco has embarked on a series of ambitious plans to attract investment and stimulate its economy. The expansion of tourism offers huge investment opportunities, and particular opportunities have opened up in holiday accommodations in main tourist destinations.

According to the American newspaper Pittsburg Post-Gazette, “foodie fans who love to shop must go to Marrakech. The cuisine is cheap and delicious, and they can design an apartment in Arabian Nights chic for less than half what it would cost in the United States.” The magazine also suggested tourists to visit some places in the Red City, such as the Musee de Marrakesh, Badi Palace and Medersa Ben Youssef, North Africa’s oldest Koranic school.

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Morocco’s emergence as a hot property destination for overseas property investors was massively stunted by its booming economy with masses of growth potential. After an economic growth of 5.6% last year, it is on track for a GDP growth of 5.3% this year, on the back of a bumper harvest, which boosted farm incomes and domestic consumption.

According to the international Monetary Fund (IMF) press release received by PANA in Addis Ababa, Morocco is expected to register an almost equal real GDP growth in 2009 with what it achieved in the preceding fiscal year. ‘Despite the world economic slowdown, Morocco’s economic performance has remained solid,’ said Mark Lewis, who headed IMF mission that visited Rabat from November 2-13, 2009.

‘Consumer price inflation will drop to less than 2 per cent in 2009 and the current account deficit is expected to improve, assuming that the recent signs of a rebound continue in the last part of the year, ‘ the mission stated. The country’s fiscal policy will appropriately loosen in 2009 and 2010, reflecting in good part the authorities’ counter-cyclical l measures. Important reforms in the public finance area are ongoing, including tax reforms, and efforts to gradually replace the current system of subsidies by targeted measures to assist the low-income segments of the population.

According to the IMF, Morocco’s Central Bank has responded appropriately to the evolving economic and financial conditions through its interest rate policy and liquidity management tools.

Moroccan government has announced a plan to increase state investment by 20% next year. This investment is to go into some very important places; an investment in the future economic growth of Morocco, to make it an even more promising destination for property investment. Holiday home buyers and property investors alike are expected to snap up property bargains in this almost exotic gateway to Europe.

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A growing number of tourists are choosing to take their holidays in Morocco which will help boost the holiday lettings market, it has been revealed.

According to official reports, a total of 7 million tourists visited Morocco in the year to October, that is an increase of 6% compared to the same period last year. The French came first with 2.6 million, followed by Spaniards (1.5 million), Belgians (398,000), Germans (358,000) and Brits (297,000). MAP news agency stated that Morocco this year overtook the Canary Islands, which did not exceed 6.6 million arrivals at the end of October 2009.

Meanwhile, Sultan Ahmed, the Indian Minister of Tourism and Culture underlined that the Moroccan civilization heritage, its cultural diversity and its natural scenery have enabled it to become a preferred tourist destination. The minister then proposed organizing a cultural and tourist event in India, in order to promote Morocco as a tourist destination. A delegation of Indian businessmen, belonging to the Indian Council for the Promotion of Chemical Products Exports (CAPEXIL), will pay a visit to Morocco this December for meeting with Moroccan businessmen.

In more news of interest for Moroccan property investors, Global Arab Network stated that the country has seen its property market remain healthy despite the world economic downturn and it suggested that this is likely to continue with major plans to increase tourism and investment in the country. The news provider noted that many investors like to buy and restore a Riad in places such as Marrakech, Essaouria and Fez, although it noted that sometimes this can be costly.

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Morocco’s emergence as a hot property destination for overseas property investors was massively stunted by its booming economy with masses of growth potential. After an economic growth of 5.6% last year, it is on track for a GDP growth of 5.3% this year, on the back of a bumper harvest, which boosted farm incomes and domestic consumption.

According to the international Monetary Fund (IMF) press release received by PANA in Addis Ababa, Morocco is expected to register an almost equal real GDP growth in 2009 with what it achieved in the preceding fiscal year. ‘Despite the world economic slowdown, Morocco’s economic performance has remained solid,’ said Mark Lewis, who headed IMF mission that visited Rabat from November 2-13, 2009.

‘Consumer price inflation will drop to less than 2 per cent in 2009 and the current account deficit is expected to improve, assuming that the recent signs of a rebound continue in the last part of the year, ‘ the mission stated. The country’s fiscal policy will appropriately loosen in 2009 and 2010, reflecting in good part the authorities’ counter-cyclical l measures. Important reforms in the public finance area are ongoing, including tax reforms, and efforts to gradually replace the current system of subsidies by targeted measures to assist the low-income segments of the population.

According to the IMF, Morocco’s Central Bank has responded appropriately to the evolving economic and financial conditions through its interest rate policy and liquidity management tools.

Moroccan government has announced a plan to increase state investment by 20% next year. This investment is to go into some very important places; an investment in the future economic growth of Morocco, to make it an even more promising destination for property investment. Holiday home buyers and property investors alike are expected to snap up property bargains in this almost exotic gateway to Europe.

Popularity: 15% [?]

Moroccan government has plans to attract further investors from the Spanish region of Catalonia, and reinforcing the North African country’s presence in this region, according to official reports.

Mohamed Cheikh Biadillah, The Speaker of House of Advisors in the Moroccan parliament, who met with visiting Mayor of Barcelona, Jordi Hereu, underlined the importance of reinforcing bilateral relations, recalling that Catalan exportations to Morocco hold a very advanced position. Pointing out the 16,000 Moroccans live in Catalan region, Biadillah said the opportunities of bringing closer Moroccans and Spaniards through the Moroccan community living in Catalonia, a region located in eastern Spain.

According to Map reports, Morocco is proposing broad autonomy to the Sahara to solve a 34-year dispute over this territory between Morocco and the Algerian-backed Polisario separatists. For his part, Hereu voiced hope to reinforce Catalonia’s ties with Morocco and The number of the Moroccans living in Catalonia represents a strong motivation for the region’s decision-takers to boost relations with Morocco. The mayor expressed hope for the establishment, soon, of a Moroccan cultural centre in Spain. The meeting took place in presence of the Spanish ambassador in Rabat.

Meanwhile, Abdelatif Maazouz, Moroccan Foreign Trade minister, and Turkish Industry and Trade minister, Nihat Ergun, pledged to further reinforce bilateral economic cooperation which may attract investors to the country. Maazouz underlined the investment opportunities offered by the North African country which serves as an investment platform thanks to its strategic geographical location and the free trade agreements it concluded with several countries.

Nihat Ergun stressed the importance of exploring Morocco’s key sectors such as real estate for Turkish businessmen, hoping to see Moroccan and Turkish entrepreneurs establish a mutually beneficial partnership.

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