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Morocco 'Is A Good Investment'

Dec 31, 2007
Overseas property investors have been advised to look at purchasing a residence in Morocco.

British newspaper the Telegraph highlighted the country as an affordable alternative to overpriced European destinations and a place that offered sunshine to visitors all year round.

The publication added that since many of Europe's most popular holiday resorts had been snapped up as well, looking further afield was a good option.

Morocco was praised for offering much lower property prices than places such as southern Spain, as well as an abundance of land on the coast.

The newspaper commented: "Finding unspoilt stretches of Morocco's Atlantic and Mediterranean coastlines is still easy."

This was attributed to the fact that the first developments aimed at tourists were only just starting to emerge, which means that people buying now can have first pick of all the available locations.

According to the Financial Post, property prices in some parts of Morocco have risen by about 50 per cent in the past few years.

Morocco's government is to invest in a series of major infrastructure improvements in Marrakesh, according to a report.

Canadian newspaper the Financial Post stated that the city was set to benefit from the creation of a new train station and high-speed rail link.

This should improve the accessibility of different parts of the country, although upgrades to the international transport network are also on the agenda.

A new airport is to be developed, a move which suggests that a large number of extra services to Morocco will be introduced from different parts of the world.

This will significantly improve its position as a major holiday destination and also attract overseas property investors to the country.

The Financial Post praised the country's investment potential, commenting: "In some areas, property prices have risen by about 50 per cent in the past few years."

According to Morocco's department of tourism, the number of visitors has increased by 14 per cent in the last year.

Tourism in Morocco has increased by more than a tenth in the last year, new figures have revealed.

Figures from the department of tourism showed that over the first ten months of 2007, the country attracted 6.3 million holidaymakers - 14 per cent more than during the previous year.

The statistics also highlighted the strong appeal of Morocco to consumers in Europe, as many of the visitors were from countries such as France, Spain and the UK.

This is likely to be welcomed by owners of rental properties in the most popular tourist areas, such as Marrakech and Casablanca, as it means their services will be in strong demand.

In addition, the figures suggest that the government is on track to meet its target of attracting ten million visitors by 2010.

According to official data cited by Magharebia.com, 52.4 per cent of government investment in 2006 was in the tourism sector.

North Africa is set to receive a large number of British holidaymakers this winter, according to experts.

The Association of British Travel Agents stated that the region was a very popular destination among those jetting abroad in search of higher temperatures.

Speaking to the Western Mail, spokesperson Sean Tipton said the recent poor weather in the UK was one of the main factors behind the winter exodus.

He told the newspaper that this year's summer had been one of the worst on record and had prompted a rush for foreign holidays.

Mr Tipton continued: "But everything had sold out and a lot of people didn't get to go abroad so there's been a ten per cent rise in winter sun holidays."

Earlier this week, the north African country of Morocco was highlighted as a good tourist destination by Australian newspaper the Sunday Telegraph.

The publication stated that it was becoming a "travel hotspot" as it offered attractions such as good beaches, history and a unique culture.
About the Author
Property Select offers a comprehensive selection of overseas Property in Morocco, news, members club and reviews of the latest off-plan property developments.
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