Morocco Real Estate News

L’Amandier is a luxury development set amidst the tranquil foothills of the Atlas Mountains, an hour outside Marrakech in the Ouirgane valley. This is a popular tourist destination for those seeking both relaxing and adventurous pursuits like Trekking, skiing, swimming, mountain biking and horse riding.

Less than an hour’s drive from Marrakech airport, The exquisite development of only 16 spacious private villas, a large swimming pool, a tennis court and gardens peppered with Bougainvillea, almond and citrus trees rest on a raised plateau, with a stunning 360-degree view of the snow capped Atlas Mountains and foothills below.

L’Amandier is being developed as a low-density community with building taking place on only 5% of the available land. The need for energy inefficient air-con is reduced as the villas have been planned to naturally ventilate. Homeowners will be provided with recycling facilities and encouraged to sort their waste. A local project to implement an infrastructure and system for waste collection and recycling has been initiated by the developer.

Indigenous materials are used during construction wherever possible, which includes rock and pebbles from the local riverbeds and all internal doors are made from local timber. All fixtures and finishes are sourced locally and local marble is used in kitchens and bathrooms, all lights are hand made or constructed on site. Tadelakt (the distinctive local plaster-type finish for interior walls) is mixed on site, using locally imported ingredients.

According to the Times reports, L’Amandier, a new development in the Ouirgane valley is attracting local and foreign interest. Meanwhile, the Sunday Times has reported that the latest development in Morocco in the foothills of the Atlas Mountains when compared with equivalent properties on the plains just outside Marrakech represents 20% below the market value.

“There is a real sense of growth, without detracting from the magic of the place, ” the publication adds.

FOR SALE: 16 two- and three-bedroom luxury eco-villas

PRICE: From £319,000.

BUILD STATUS: phase one began November 2008; completion is due 2011.

Popularity: 3% [?]

The Moroccan investment development agency has opened an office in Madrid to encourage Spanish businessmen to invest in Morocco.

Fathallah Sijelmassi, the director of the agency said that the opening of the office aims at proximity, that is to say getting closer to the Spanish business arena. Recalling that over 1000 companies are currently based in Morocco, Sijelmassi said that Morocco’s government believes that strengthening the economy, the infrastructural improvements and incentives to foreign investors would attract more foreign investors to the country.

Highlighting Moroccan business opportunities and incentives, he stressed that Spanish companies can produce more cheaply in Morocco and it constitutes an alternative for increasing their market share. He said that Spain would become one of the largest direct investors in Morocco in the next few years.

According to the Telegraph report, Property values in Morocco are continuing to grow as a result of foreign investment. Property values in some parts of Morocco have risen by as much as 20% this year. The publication also stated that house prices in areas such as Marrakesh were “soaring” due to the influx of overseas property buyers.

Morocco’s popularity as a holiday destination was also highlighted by the newspaper, as this means that rental accommodation is in high demand among tourists.

Commenting on the country, the Telegraph said: “Morocco is just about as exotic as you can get on a short-haul flight from Britain.”

Popularity: 4% [?]

People who plan to invest in a Buy-to-let property overseas have been advised to consider purchasing in Morocco as Holidaymakers from all over Europe are increasingly choosing to spend their leisure time in Morocco.

Speaking to the Maghreb Arabe Presse, Moroccan tourism minister said the overall number of visitors rose by 13 per cent and he revealed that many of these people had come from various European countries. Meanwhile, the country was found to have attracted a large number ofFrench, Spaniards Belgians, Germans, Italians and Britons.

Commenting on Morocco’s tourist sector, Mr. Boussaid said the recent growth was proving to be a major economic boost. He stated that the increase in visitor numbers was leading to the creation of new jobs and contributing a significant amount to the GDP.

According to the travel association ABTA, Morocco will be a ‘big winner’ in terms of the numbers of holidaymakers it receives this year. Changes in the air duty being charged to passengers flying to North Africa were reduced in 2009 from £40 to £11 by the European Union. It is expected that this will make nations such as Morocco and Tunisia more affordable as short haul destinations.

Frances Tuke, spokesperson for ABTA, said: “The big winners will Non-Euro zone again and we think Morocco and Tunisia because actually the air passenger duty change has actually positively impacted on those destinations.”

Meanwhile, the reduced exchange rates in the Euro zone are also expected to boost Morocco’s popularity as a holiday destination, according to Takethefamily.com.

Popularity: 3% [?]

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% [?]

Plans by the Moroccan government to boost the country’s tourism industry could have a positive effect on its rental market, reports Reuters.

The North African country’s holiday sector is currently in a very healthy state. The number of arrivals kept growing last year despite the global economic downturn, with an increase of 6 percent. Public works spending is projected to grow by 20% in 2010, while state investment is expected to rise by a similar percentage. Despite the global crisis, the increase in government spending combined with good harvests since 2008 has helped the Moroccan economy grow at impressive rates.

‘We aim to realize growth of 10 percent (in 2010 tourism numbers), or three times the world trend that is forecast,’ newly-appointed Tourism Minister Yassir Znagui said. Government officials said the rise in tourist numbers hoped for this year would not come at the expense of profitability. The country’s buy-to-let market would be significantly boosted by an influx of leisure travelers from overseas, as this would create high demand for temporary accommodation.

The positive growth in the tourism sector over the last few years has prompted Othman Cherif Alami, Chairman of Morocco’s National Tourism Federation (FNT) to predict the country will achieve 6 percent growth in foreign currency earnings. This is likely to be a positive development for many owners of rental accommodation in Morocco, as many depend on tourists to provide rental yields.

The country was recently recommended to foreign property buyers by Home Move, which described it as one of the strongest investment options in the world.

Popularity: 3% [?]

The Moroccan government is doing all it can to ensure the country remains an attractive proposition for international investors

According to Global Property Guide, the government is actively promoting Morocco as a holiday destination and investing in a series of infrastructure improvements to accommodate the extra visitors. The government has been funding the construction and renovation of roads, airports and ports in the country. This could create a number of investment opportunities across Morocco during the intervening period, as new homes are being created and work to improve its infrastructure is being carried out.

The government believes this investment in the tourism industry will also lead to the creation of 600,000 new jobs. Dubai-based real estate giant Emaar believes it will have another positive effect. A spokesman for the company told that Morocco is a “promising market” and that the 2010 Vision would help investors in the Moroccan market. He added that the company’s projects in Morocco … are principally led by tourism, and as such they have strong growth potential, according to Arabian Business reports.

As a result, many areas are becoming more desirable to both lifestyle buyers and those who could benefit from investing in the country. Homes Overseas magazine said this is pushing up property values in Morocco, adding that this trend is likely to continue.

The publication remarked: “Expect prices to appreciate considerably over the next few years.”

Popularity: 3% [?]

Morocco is becoming more accessible thanks to low-cost airlines, and as the tourism increases, so do the potential revenues from property investment. The number of tourists has increased by 6 percent last year despite the global economic crisis. 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. By comparison, similar holiday destinations such as Spain and Tunisia saw the numbers of visitors decline. Government officials are already predicting a further rise of ten per cent in 2010.

Tourists to Morocco have a wider choice of fantastic beach locations. For the outdoor-adventure types, it is even possible to ski and snowboard up in the snow-capped Atlas Mountains. There really is a huge amount of different activities to participate in and it’s easy to see why Morocco is becoming one of the most popular holiday destinations around.

For overseas property investors this is excellent news at it means there is plenty of demand for holiday homes, meaning property prices are growing steadily, rental yields are likely to be amongst the most stable and dependable.

Meanwhile, Tourism minister Yassir Znagui made the forecast and stated that the country wished to focus its efforts on “sustainable tourism, respect for the environment and a top quality tourism product” in the coming 12 months.

In related news, overseas property portal Buy Association said that capital gains of up to 35 per cent are possible in Morocco. The portal noted that the Moroccan government has been taking action to help boost the economy and property sector, including providing financial incentives for Moroccan expats to buy houses in their homeland. The expanding economy is being aided by investment in tourism infrastructure and high-speed rail, something that could interest those looking to invest in tourist property.

Popularity: 3% [?]

Property investors in Morocco will be pleased by news that Morocco is becoming more accessible to holidaymakers looking for sun, sea and sand, according to a report.

New roads, new air services with Royal Air Morocco Air Arabia and Morocco, Changes to air duties for people traveling from the European Union mean that flights to Morocco will be cheaper this summer than in 2009, all making 2010 Morocco a more attractive and accessible destination. Low cost airlines including Ryanair and EasyJet have increased flights to Marrakech, Casablanca, Tangier and Agadir making the country increasingly accessible from the UK and the rest of Europe and, therefore, attracting all investors.

The Moroccan government is spending billions developing the country’s supporting infrastructure in recognition of its increasing importance on the tourism and investment map. Moroccan property has soared in popularity more than three-fold over the past year amongst high end International investors. And both the short and long term prospects for the Moroccan property market continue to be very positive. With prices in the country much lower than in the EU or UAE on average, property buyers can bag themselves a bargain and forecast profitable returns on their financial outlay.

Commenting on the increase in popularity of Morocco and Turkey in recent months, travel expert Simon Calder said: “Certainly Turkey and Morocco are becoming more accessible thanks to the increased number of flights but most of those are aimed at those who just want sun, sand and sea.”

Meanwhile, the president of the Tourism Monitoring Centre, Kamel Bensouda, believes that Morocco has a number of advantages as a tourist destination. “Morocco is a nearby destination for European travelers in particular and offers a high-quality product, attractive prices and short vacation packages.”

Popularity: 3% [?]

Moroccan tourism is still on the increase despite the global economic slump and the country is modernizing itself for an influx of tourists from Europe as holidaymakers opt for the country over more expensive, far-flung destinations.

According to Morroconewsline.com reports, a blizzard of tourism-related developments is underway in 900 years old city of Marrakech, even in the midst of the economic recession. The construction boom comes after an ambitious plan launched by the king almost a decade ago to increase tourism by enhancing tourism infrastructure and ratcheting up promotion.

A who’s who of luxury openings in 2010 include hotels flying the Mandarin Oriental and Beachcomber flags and ultra deluxe Royal Mansour, owned by the Moroccan king. Other hotels in the pipeline include a W Marrakech a Four Seasons, a Raffles, Park Hyatt and Inter Continental. Much of the growth is along the country’s Atlantic coast, with major developments, such as the 600-acre Mazagan Beach Resort, which opened Oct. 31 south of Casablanca.

Mr. Mohammed Boussaid, tourism minister said that he is convinced that the country can profit from the current economic crisis and his comments are supported by figures released by tourism department which shows increase in tourist numbers. Overseas investors are considering making purchases in the country may be encouraged by Mr Boussaid’s comments and invest in homes in the area to potentially benefit from the steady flow of tourists.

Locals like Youssef El Alaoui, a tour guide whose family has lived in the medina of Marrakesh for seven generations said that modernizations of cities is doing good to property market in the country. “They’re doing magic here. It will be magnificent,” El Alaoui says. “Marrakesh is losing its heart in one way: It’s busier. There are too many cars. Still, these beautiful houses are being given another chance, and that helps save the city.”

Popularity: 5% [?]

Moroccan tourism is still on the increase despite the global economic slump and the country is modernizing itself for an influx of tourists from Europe as holidaymakers opt for the country over more expensive, far-flung destinations.

According to Morroconewsline.com reports, a blizzard of tourism-related developments is underway in 900 years old city of Marrakech, even in the midst of the economic recession. The construction boom comes after an ambitious plan launched by the king almost a decade ago to increase tourism by enhancing tourism infrastructure and ratcheting up promotion.

A who’s who of luxury openings in 2010 include hotels flying the Mandarin Oriental and Beachcomber flags and ultra deluxe Royal Mansour, owned by the Moroccan king. Other hotels in the pipeline include a W Marrakech a Four Seasons, a Raffles, Park Hyatt and Inter Continental. Much of the growth is along the country’s Atlantic coast, with major developments, such as the 600-acre Mazagan Beach Resort, which opened Oct. 31 south of Casablanca.

Mr. Mohammed Boussaid, tourism minister said that he is convinced that the country can profit from the current economic crisis and his comments are supported by figures released by tourism department which shows increase in tourist numbers. Overseas investors are considering making purchases in the country may be encouraged by Mr Boussaid’s comments and invest in homes in the area to potentially benefit from the steady flow of tourists.

Locals like Youssef El Alaoui, a tour guide whose family has lived in the medina of Marrakesh for seven generations said that modernizations of cities is doing good to property market in the country. “They’re doing magic here. It will be magnificent,” El Alaoui says. “Marrakesh is losing its heart in one way: It’s busier. There are too many cars. Still, these beautiful houses are being given another chance, and that helps save the city.”

Popularity: 3% [?]