For all those who are seeking to invest in the Morocco real estate markets, there is good news to be heard. The recent consensus has shown that the real estate market in Morocco is slowly but steadily expanding, while many schemes offered by the government are boosting the market further. Morocco has recently seen a surge in foreign investment when it comes to the real estate market. Not only is the Moroccan real estate market offering the investors with prices half the amount when compared to the cities in Europe, certain policies like tax free rentals etc are making Morocco a hot spot amongst investors.
Now happens to be the correct time for all the investors interested in morocco real estate to invest in the properties. As the tourism industry grows in morocco, what with the open skies policy and Plan Azure Vision 2010, the prices and rates of the properties in morocco are bound to increase by manifold. Timely investment (now that is) will ensure that investors reap huge benefits and profits from their investments in the Moroccan properties. It is estimated that the real estate market will grow over 15% per annum, while the earnings and yields are bound to touch the double figures in percentage!
At present it is estimated that a two or three bedroom apartment would cost you around 150,000 ?, while a three bedroom villa can be bagged for 245,000 ? approximately. Meanwhile, for those seeking for buying apartments, a square meter of area can be had for as low as ?800. Last one year has seen the prices rise by almost 75%. While the properties are still ample and prices within reach, investing now will definitely be the smartest thing to do. Experts predict that the prices in the real estate of morocco will see a continuous rise for the next four to five years, before slowing down in growth.
Even though the world is facing a big slump in economy and real estate markets especially, morocco is not affected by it at all. While the economy still faces a steady rise, the real estate markets are also becoming stronger by the day. Further, for investors, the new schemes promoted and more liberalized tax systems have ensured the rising interest of foreign investors in morocco. Rental income in morocco has been exempted from all taxes for 5 years, while the investor does not require paying for the capital gains by selling a property after 10 years of its buy. Besides, properties sold within 6 to 10 years of their purchase will have to pay for 10% profits, while properties sold within 5 years of purchase will be required to pay either 20% profits or 3% of the total sales price.
Some of the best cities enjoying the attention from the real estate investors happen to be Casblanca, Rabat, Fes, Marrakech and Tangier. Besides, acquiring loans in morocco is extremely easy. The interest rates vary from 5.5% to 6.5%, while about 70% of the property cost can be had as a loan.
Just as the tourism industry expands, the real estate market becomes more promising by each passing day. Invest now for an assured investment!
Morocco Property For Sale
There are numerous tourist developments planned for construction on both of Morocco’s Atlantic and Mediterranean coasts over the next 5 years. These properties will include apartments, villas, townhouses, golf course’s and 5* hotels. With Morocco’s close proximity with Europe and with major investments also planned for new roads and high speed train’s, the future for Morocco is assured as a destination for international tourism.
Any investor can purchase a property in Morocco and purchasers from the EU are particularly welcome. As a prospective property purchaser in Morocco you will have to have a bank account with a Moroccan bank to handle your transfer of funds, and should you require a mortgage to assist with property purchase, mortgages are available up to 70 -7 to 40-6
Legal Fees 1.1
Land registry 1.5
Apart from electricity and water charges, you can expect to pay a nominal community charge in the region of €60 per month ensuring the upkeep of your property.
Many purchasers want to take advantage of the tourist boom by renting out their property. There are no restrictions on this in Morocco and there are no taxes payable on rental income achieved during the first 5 years.
These guidelines are meant for guidance only and describe a straightforward properties purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.
Both Darryl Steinfeldt & Anthony Riley are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Darryl Steinfeldt has sinced written about articles on various topics from Finances. Kathrine Bryne is author of this article on . Find more information about. Darryl Steinfeldt's top article generates over 1900 views. to your Favourites.
Anthony Riley has sinced written about articles on various topics from Home Remodeling Ideas, Property Guide and Real Estate. Anthony Riley is a consultant to . Anthony Riley's top article generates over 18100 views. to your Favourites.
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