Why buy property Morocco?
Morocco has long been attracting travellers looking for a true sense of peace and tranquillity mixed with adventure, exotic sights, sounds and smells. With over 3500 km of beautifulcoastline, stunning mountain ranges and historic cities, it’s easy to understand why Morocco is tipped as one of the hottest destinations and greatest property opportunities over the next decade.
Morocco is situated only 3 hours from the UK and with the rapid expansion of new airlines into the country; it has never been easier to get to. The King of Morocco is extremely progressive and pro-western. 2005 saw the implementation of the "Open Skies" agreement between Morocco and the European Union, which opened Morocco's airline industry to competition from low-cost European carriers. This proliferation of Europe-based discount airlines has made travel to Morocco increasingly cost effective for European holiday travellers. Furthermore, the search for new markets has pushed developing countries such as Morocco to the forefront of Western tourism markets and made them fashionable travel destinations.
The Effect on Tourism
Morocco's close geographic proximity to Europe, abundance of sunshine and rich cultural heritage has made the kingdom an increasingly popular holiday destination for Europeantravellers. Morocco's tourism industry is thriving and is regularly cited as one of the hallmarks of the kingdom's openness. In January 2001, King Mohammad VI of Morocco embarked on "Vision 2010," a national plan to increase Morocco's infrastructure to accommodate 10 million tourists by the end of the decade. As an indication of its commitment to this endeavour, the government recently allocated more than $2.2 billion toward the development of seasideresorts.
Marrakech is one of the fasting growing unique tourism destinations in Morocco yet growth within the historic city walls is restricted due to the limited geography of the area. Unlike the northern Moroccan Mediterranean coast where development continues at an alarming rate, in historic Marrakech there is no development as such, only renovation of historic riads (traditional courtyard houses)
Having researched this area and gaining invaluable contacts, we believe that this is wherethe true growth will be rather than in the endless new 'gated' and overpriced developments on the edge of Marrakech and on the northern coastline where too much development could result in a mirror image of some of the cheaper resorts on Spain's Costa del Sol.
Many famous names and faces have put money into Marrakech including, Sir Richard Branson, his sister Vanessa, Yves Saint Laurent and The Beckhams. Marrakech has become a leading international tourism destination with 4 new airlines starting services to and from the UK since 2006. The progressive King of Morocco has announced that by 2012 tourism will increase a further 4 fold which is an ideal opportunity to invest in Riads that would run as B&B and Hotels in order to meet this projected demand.Overall we believe that Marrakech has all the right ingredients for strong growth in the short to medium term where 70% growth over 5 years should be easily achieved.
Other Good markets: Essaouira and Fez
Both of these cities are less developed that Marrakech but offer very good medium term returns. Fez and Essaouira offers many traditional Riads at a fraction of the price paid in Marrakech, which has become a world-class destination. We can secure un-renovated Riads through our local contacts at much cheaper rates than those charged by many of the international agents. We can offer a full renovation service to our clients, again at a lower cost than most of the competition.
Please checkout our selection of Riads, Terrains, Villas, Appartments and Businesses you can choose from. If you can't find something you are looking for, please feel free to use our Contact Us page and we will be happy to help!