Low living costs attracts property buyers
A new research has revealed that Property purchasers in morocco can experience a luxurious lifestyle at relatively small expense.
Finfacts in 2006, Mercer Human Resource Consulting’s research of the world rankings of the cost of living shows that Casablanca, the only entry from morocco to feature in the list and that too at 88th place which also has London 5th most expensive; Paris 15th; Dublin 18th most expensive city in the world.
Statistics from the Teletext Holidays showed that food and drink, including three-course meals and alcoholic beverages, are far less expensive than in European countries. The low cost of living combined with the very Mediterranean feeling, similarity of coastal conditions to southern Spain, valued properties and all-year rental income due to booming tourism are the reasons for the morocco’s existing popularity among overseas property buyers.
Ash Makkar, spokesperson for Teletext Holidays has said that Morocco is proving to be a smart destination because it offers a relatively low cost of living. Official numbers recently revealed that last year Morocco attracted more than seven million overseas visitors.
The Open Skies agreement in January 2007 has opened the country with many low cost airlines flying to Morocco. The booming tourism sector means a good potential for safe high yield returns on real estate investment.
Popularity: 21% [?]
