Morocco low-risk property market enjoys high demand
An overseas property expert has said that Morocco’s stable economy makes the country an interesting prospect for property investment.
According to Middle Eastern media and technology Group Al Bawaba, international property agent Knight Frank has claimed that Morocco offers a low-risk environment for property investment. The Moroccan property market is benefiting from the fact it managed to escape the worst of the global economic crisis as high demand from investors and second home buyers boosts its profile.
They also highlighted the “cosmopolitan city” of Marrakech as being one of the more popular destinations for individuals looking for luxury and prime properties. The North African coastal destination can still expect appreciation to occur within the market as it has relatively low prices in comparison with destinations in Europe.
Meanwhile, Steve Wright, a property specialist based in the West Midlands said that Morocco is one of several emerging markets which have managed to avoid the economic problems currently afflicting larger economies, According to the Birmingham Post reports.
He said that the North African country is “basically credit-crunch free”, making it an appealing location for savvy UK-based property investors in the current climate.
“Morocco has no linkage at all to any bad debt,” Mr. Wright explained.
In related news, Moroccan property investors will be pleased by news that tourism in the country rose by six per cent in 2009. 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 and government officials are already predicting further rises of around ten per cent this year.
Popularity: 3% [?]
