Morocco has a uniquely advantageous location, being situated very close to Western Europe, while enjoying the benefits of all year sunshine.
Morocco is believed to be one of the best options available to you for real estate investment today. Property can be purchased in Morocco for a great deal less than in most other destinations and has the added benefit of having an already established and rapidly growing "buy to let" demand. Capital growth is expected to be considerable with estimates of between 15% and 30% being very common.
King Mohammed VI, with the help of additional funding from the UAE and the US, has pledged to invest huge amounts of money into the country's tourism industry, with the very achievable aim of reaching ten million tourists per year by 2010.
Tourist numbers continue to increase due to the Open Skies initiative, inviting budget package airlines to extend their services to Moroccan airports. Low cost, direct flights are now available from most major cites in Europe, making Morocco an increasingly popular tourist destination. With the construction of quality new hotels and properties now in full-swing, Morocco is well equipped to handle increased tourist numbers as well as to offer investors some potentially excellent buy-to-let options and high rental occupancies.
The country is also making significant progress as it looks to develop its infrastructure - and Moroccan property prices are currently relatively low, making investment in the country a secure business decision.
Currently tax on rental income in the kingdom stands at zero per cent, with repatriation of funds at 100 per cent. There is no inheritance tax and morocco has zero per cent capital gains tax after ten years!
All great reasons to invest in Morocco!
- Property prices are currently very competitive.
- With the low cost of living, it is possible to experience a luxury lifestyle at relatively small expense.
- Capital growth is estimated at around 15% - 30%, based on last year’s figures ( Homes Overseas Magazine quotes the growth to be nearer 30%).
- Capital gains tax stands at between only 0% and 20%.
- Inheritance tax is not charged.
- Property tax is not charged during the first 5 years.
- Rental occupancy currently reaches around 85% during peak season
- 70% mortgages are currently available
- The Open Skies policy allows competition for Moroccan air routes. It will
generate competition, increase services and dramatically lower air fares.
- Beautiful sandy beaches with crystal clear water.
- Stunning golf courses, tennis clubs, riding clubs, waterskiing, sailing, scuba diving, hunting, hiking, camel treks, culture attract all types of tourists and investors alike.
- The Mediterranean climate brings hot summers and mild winters, permitting
year-round tourism.
- Morocco is easily accessed.