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Investment Guide: Morocco |
Located in the North West corner of the African
Continent, Morocco has the vast Sahara desert to
the west, 3,500 Km of white sandy beaches
stretching along the Mediterranean coastline to
the North, and the Atlantic to the West.
Morocco has a particularly diverse landscape with
Sahara desert, the Atlas Mountains (the largest
mountain range in Africa) and many national park
areas.
Tangier, Casablanca, Marrakesh are just a few of
the famous locations that produce images in the
mind of the exotic magic of Morocco where you
can almost smell the spices and aromas. Visitors
to these places will be mesmerized by the
atmosphere whilst walking through the streets
with minarets and medinas and colourful markets
all around.
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With such diverse activities as skiing, camel
trekking, water-sports, visiting ancient ruins, and
of course enjoying the deserted sandy beaches it is
no surprise that those travelers who discover
Morocco, return year after year. For all its diversity Morocco comes close to Europe
and influences can be found all over the country,
the remaining legacy of the French Protectorate.
There is a vibrant mix of cultures that is reflected
throughout every aspect of Moroccan life, most
noticeably in the cuisine and the architecture
around the country.
As a location for property investment, Morocco is
one of the most up and coming locations. As
Southern Europe becomes an expensive location,
purchasers seeking something more exotic at a
much lower price are now looking to Morocco for
the best opportunities.
Property prices in Morocco are less than 50% of
what you would expect to find in the majority of
western Europe. With the low cost of living,
wonderful climate, amazing cuisine, accessibility
and wealth of activities on offer it is no surprise
that so many tourists are choosing Morocco as an
exotic holiday destination. All this is available in
only 3.5 hours from the UK.
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From the start of 2007, through the open skies policy, Morocco will be able to accept low cost
airlines which will further boost tourism. The King has decreed a major boost to the facilities and
infrastructure of the country, and with the funding provided by the state and the major investors
from the UAE and around the world, Morocco is set to take off as a major global tourist
destination.
The property market in Morocco is booming and there is a huge demand for properties and
supply is struggling to keep up, as property investors from around the globe move to Morocco to
get the high returns as the market takes off. Capital appreciation last year in Morocco was up to
30% per annum and rental demand outstripped supply, creating the perfect place to invest in a
holiday home, buy to let opportunity or pure investment purchase.
Finance
Obtaining a mortgage in Morocco is a straightforward process with lending options available as
repayment only mortgages from a minimum of €40,000
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There are competitive rates available, and you can expect to secure rates of between 5.5 and 7%
with repayment terms over 15 years, with loan to value mortgages of 70% still the norm, 80%
mortgages are starting to become available with the rates becoming more attractive. There are also very attractive payment structures, only requiring 25% to be paid over
construction of 3 years, making the product in Morocco one of the most affordable property
investment options, with 75% mortgages available on completion. For as little as £21,000 cash it
is possible to purchase a property for investment in Morocco. |
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