Morocco property prices double in one year

carlisle

Morocco property prices have doubled over the past 12 months and look set to rise further over the next three years.

Speakers at The Property Investor Show said the country has a developed economy and strong infrastructure, with rail and motorway links connecting key regions around Marrakech, Fez and Casablanca.

Furthermore, the Moroccan government believes the culture and ancient history of the north-African nation is the equal of any country in the region and has committed to commit to attract ten million visitors by 2010.

Add to this the benefit of tax breaks for British buyers looking for investment in the Moroccan housing market and the region gets more and more attractive to investors.

Prices in high demand areas, including Casablanca and Marrakech, average around £2,000/sq.m and predictions show prices could increase by 40 per cent within three years.

Today Morocco is a promising emerging market and a huge growth in developments to the region is living proof of this. The Moroccan government's commitment to increase the numbers of tourists is a real incentive for developers and investors alike.

morocco propert

I think today Morocco is a promising emerging market and a huge growth in developments to the region is living proof of this. The Moroccan government's commitment to increase the numbers of tourists is a real incentive for developers and investors alike.
As the country offers everything from economical apartments to million pound villas, Morocco property investment is attracting all types of investors, from the first time buyer to the more seasoned investor, all of which are keen to tap into this emerging market.
Morocco property investment is proving to be very lucrative with prices doubling within a year, and according to property reports, property price growth is set to continue well into next year. Property experts predict growth figures of 40% within the next three years with a rental yield of 10%.

moroccomania

Hey morocco-propert

Can you tell us where you got the 40% growth figures and 10% yields? Would be handy to see some reference please.

Thanks!

allnewmorocco

more like 30% in the year not sure where the facts are for prices doubling ???

esmerelda

On what do you base these figures. beware agents spiel. I have heard some incredible figures & it's tosh! If anyone says that off plan units have increased by x% - well they have if the agent says so but noone's actually resold anything have they? so an agent can quote any figure.It's meaningless until you try to resell. Also many of these developments have large no. of units & will attract large volume investors all looking to flip just before exchange...just about the same time you want to!
Morocco is like any other country there are hotspots where prices have seen real rises of between 15-20% (as opposed to agent doublespeak) and others where it's remained flat.

allnewmorocco

I personnall bought at Mirador Golf near Cabo negro 2 years ago the development is all but finished and selling for £60k as many spanish buyers now in that area as its easy to get to unlike the UK I paid £33k so in just over two years this development has almost doubled

Units at the complete Jawhara Smir phase 2 which went on sale 2.5 years ago at £35-£37k are now selling for upwards of £70k

Its also still pretty cheap still compared to Spain and new developments being released with prices here at just below £1000 psqm

camel

Esmerelda: I totally share your views. At the end of the day of the a price for any commodity is what one is willing to pay and the other is willing to accept.

I have always stressed that if you get in an off plan you should have the best development. In a Country like Morocco there is plenty of developers doing the same thing and they will be released in the market more or less at the same time. The locals do not have the capacity to under pin the market. As far as foreignors are concerned they will be at the next so called hot spot.

jayboy

Hello Camel,

I've read a few threads now and respect you opinion and judgment. I'm looking to invest in Saidia of approximately 200k. This is a hell of a lot of money for me, however the townhouse I'm considering buying is within a few minutes of the beech and in an ideal location for amenities. Do you think this will be a good investment in the long term? What would you expect in rental yields for such a property?

Myasilah.com

Be aware of some real estate agents, most of them from overseas...they are more in marketing than real estate ...all they are looking for is to sell...they don't know anything about the country. They know about how to sell any real estate in any country. Make sure you do lot of research. These agents are everywhere even in the forums they pretend being buyers of off plan properties...or invested in certain projects...It happened to me amd many partners...so be carefulof the game everywhere.

esmerelda

I know you addressed this to Camel, but I'll stick my six pennorth in...for what it's worth! I am not a big style property investor, but we have an off plan apart., some land in TUrkey & 3 renovated houses in Morocco. My rule is to buy what I would I be happy to holiday in or at a push, live in (cos if it all goes awry...you might have to!!). Never rely on holiday let rental to cover the mortgage...you might get lucky at Saida but there are a heck of a lot of units being built up there so...a lot of competition...plus do you know how much building is going on in Morocco right now building new units....(more competition!) they actually ran out of concrete suplies a couple of months ago there was so much demand! If rental income is key to your strategy you migt consider a smaller, cheaper unit...rental returns can be greater on that. Also there are a lot of threads on House Price Crash - UK, America and Australia on Saida if you want more views. Good luck with whatever you decide to do.