Moroccan properties reap 20 percent gain in 2010
The demographics of Morocco’s property market could be changing as more people are attracted by the prospect of second homes in the sun as houses in Morocco are much cheaper than those in nearby Mediterranean nations.
According to the Independent, Property buyers are benefiting from high rate of capital appreciation, as current economic crisis is not inhibiting its economic growth .The publication added that more Brits are investing in Morocco than ever before and are experiencing capital gains of 20% per year.
The ever-increasing demand has led to a number of luxury and up market developments springing up across Morocco. The growing economy and flourishing housing market is leading to house price inflation in many areas. Consequently, demand means that there will be fewer bargain properties available in the future, whereas early investors can enjoy a high rate of capital appreciation.
International property agent Knight Frank has painted a positive picture for property investment in Morocco, claiming it offers a low-risk environment. And with comparatively low prices in comparison with destinations in Europe, the North African country can still expect appreciation to occur within the market.
Rental property investors in the country will be pleased by news that visitor numbers rose by six per cent during 2009 and government officials are already predicting further rises of around ten per cent this year, Reuters reported.
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