Morocco: Property Investment Potential

Morocco: Property Investment Potential

The property market in Morocco is one of the most exciting investment opportunities for overseas buyers, with the government committed to the groundbreaking project, Vision 2010, which aims to increase tourist arrivals to 10 million by 2010.

Morocco Tourism Breaks All Records

According to the Tourism Minister, Morocco is well on target to reach those projected figures and the country attracted a total of 7.4 million international tourists in 2007 - the highest figures in 40 years. Morocco is transforming itself and the government's tourism initiative is targeting golfers and yacht owners. High profile investors such as Richard Branson and David Beckham are just some of the world's rich and famous who have already given their seal of approval to Morocco, keeping media attention high and fuelling further demand.

Infrastructure Improvements

For the international property investor, access has been significantly improved with the signing of the European Skies agreement, allowing European airlines to operate without restriction at Moroccan airports. Low cost airlines such as Easyjet, Ryanair and Thomsonfly have all announced new Morocco routes and Morocco's road network is currently being upgraded. Naturally, there will be continued growth and expansion in the property market because of these positive infrastructure developments.

Morocco's Myriad Attractions

One of the main attractions for property investors in Morocco is the relatively affordable prices of real estate - around half the price of other European hotspots, such as Spain and France. Tangier and Marrakech are the most popular areas for investors with Tangier's proximity to mainland Spain adding to the attraction for property investors seeking a great return on their money. A range of new tourist facilities are being built close to Tangier, including one of the largest pleasure ports in the Mediterranean just 35km east of Tangier. Rental yields are already showing impressive performance with average rental yields of over 8%.