Morocco's Golden Mile - Alcudia Smir Extremely appealing investment option
Prices between 980€ - 1280 € m2 More info>>>
New beach resort - Morocco Very economical off plan development
close by 'Marina Smir'. More info>>>
Invest in Morocco Smir - The holiday resort of Moroccan
royalty. On the Mediterranean coast very
near to Ceuta and the city of Tetouan. More info>>>
Morocco is standing on the edge of a big property boom. With property prices three times cheaper than other major European resorts and the Mediterranean climate with its hot summers and mild winters, this is a new emerging market which is only beginning to be noticed by property buyers from around the globe. A friend of mine that visited a short while ago, comparing villas there with a moroccan house and a Morrocco apartment, quoted it accurately:"The coasts look like the Spanish Costa del Sol twenty years ago! Unspoiled and undeveloped".
We all know what happened in the last twenty years in Spain. Property prices have been rising rapidly and many investors have been earning fortunes. We predict the same scenario for Morocco.
PROPERTY FACTS: property finder in Morocco
Tourism will be the primary export product in the near future. The Moroccan government aims to increase the number of foreign visitors from the current 2 million, to almost 10 million in 2010. Building 900 kilometres of new roads, increasing the number of international flights, developing new airports and allowing cheap European flights into Moroccan airports are just a few of the arrangements the government has made to stimulate tourism. You can now find cheap holidays, very reasonable hotels and the golden beaches are beautiful.
Taxes are low. Capital Gains Tax is, if the property is sold within five years, charged at 20% of profit with a minimum of 3% of the sale price. A property sold between six and ten years of ownership will pay 10% capital gains tax and 0% thereafter. There is no inheritance tax for family members and Income Tax is not payable on rental income for the first 3 years of ownership.
The capital growth on the Moroccan property market in 2007 is, based on last year´s figures, expected to be between
15 % and 25 %.
Flights take less than 3 hours from the UK. Flights are - because of the 'open skies policy' that has been launched in 2006 - so travel is as cheap as to any other Mediterranean destination.