Properties in coastal villages of Morocco has growth potential
Many investors in Moroccan property market are choosing to look away from established holiday resorts and are starting to look away from the highly developed tourist spots and consider purchasing in nearby villages.
The vast majority of tourists and residents come to Morocco to relax on the beaches 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. The increase in tourism drives the real estate market in Morocco and has led to increased property values in established coastal resorts.
Purchasing property in villages nearby resorts offer several benefits to foreign investors, such as cheaper property prices and easy access to the main resorts. There are still lots of unspoilt villages dotted along the coast within a short car journey of the larger towns. Properties in those villages could be up to 50% less expensive than similar buildings in the tourist areas.
UK-based newspaper the Independent said that in recent years, authorities in Morocco have reacted accordingly by introducing development programmes that has seen the development of many new properties in popular areas. Morocco’s growing popularity has therefore seen these houses become subject to strong demand, thereby pushing up prices in tourist hotspots.
Marrakesh was said to have seen the bulk of the new developments, along with many coastal towns and cities.
Popularity: 3% [?]
