Modernized Morocco provides safe investment opportunities
King Mohammed VI has called on expatriates to invest in Moroccan properties speaking at Fundamentals of Investment conference in Skhirat, it has been reported.
The Weekly Blitz has reported that the monarch wants to “remove all obstacles to the promotion of investment” in property for sale in Morocco.
Research released at this year’s International Conference on Investment in Skhirat showed that foreign businesses are becoming increasingly confident about investing in Morocco. This suggests that Morocco could benefit from further investment from foreign businesses, leading to a number of economic benefits.
In addition, the Telegraph stated that the government’s efforts to boost the tourist sector also had an effect. This had resulted in momentous growth in its housing market, with the price of property for sale in Morocco increasing by 20 per cent in the last year.
Morocco has made itself highly attractive for purchasers of investment property in Morocco due to the added financial benefits and sympathetic tax regime. A considerable reduction on property rental tax, exception on capital gains after ten years and 0% Inheritance tax are all attractive features for investors. Low annual property taxes and exoneration from few other taxes for a certain period of time should increase overall rental yields. There is also the ‘double taxation treaty’ between Morocco and the UK which is a big draw for UK investors.
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