Latest News
21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
Property Investment in Morocco 2008
With a new 'open skies' policy bringing in low-cost flights, a €2.2 billion government investment in infrastructure and a growing reputation as a playground for the rich and famous, Morocco is on course to almost double tourist numbers by 2010, presenting an excellent opportunity for property investment in Morocco.
Moroccan tourism has been growing steadily since the turn of the century, with visitor numbers standing at 6.5 million in 2006, a rise of 12% on the previous year. Meanwhile, Morocco's revenue from tourism rose 30% to reach 53 billion dirhams (approximately £3.2 billion), according to the Minister of Tourism and Craft Industries, Adil Douiri. This is largely thanks to King Mohammed VI's Azure Plan and Vision 2010, which aims to increase tourism to 10 million visitors by 2010, providing 20% of GDP (Source: Financial Times). This includes a major investment in transport, facilities, and services, including the introduction of new tourism opportunities such as golf. Naturally, the growth of the property sector will expand as a direct beneficiary of these positive developments.
If you choose to invest in the potential of the Moroccan property market, you will certainly be in good company. According to the Financial Times, "Morocco is experiencing a booming property market, and one particular area of growth is luxury property." Richard Branson, members of The Rolling Stones, Malcolm Forbes, and David Beckham are just some of the world's rich and famous who have bought property in the country, keeping its media profile as hot as its weather and fuelling further demand.
"Moroccan tourism has been growing steadily since the turn of the century, with visitor numbers standing at 6.5 million in 2006, a rise of 12% on the previous year."
One of the key attractions to the Moroccan property market is the relative real estate prices – around half the price of European hotspots such as Spain, France, and Italy. What’s more, the cost of living is comparatively low. As a result, the market has grown by around 50% to 75% since 2001, with new developers moving into the market from Dubai and Europe, offering excellent investment opportunities (Source: Morocco Official Website). Equally, rental yields are showing impressive performance; average rental yields of 8.23% have been registered in Marrakech for apartments, with the smallest apartments (approximately 60 square metres) generating yields of 8.86%.
Complimentary Property Investment Report
Obelisk TV Series
'The Next Big Thing'
Next Big Thing Turkey
Next Big Thing Bulgaria
Next Big Thing Dubai
See more...