Vision for Investment to Property in Morocco

The Kingdom Morocco, the gateway to Europe from North Africa, offers a mystical and exotic culture coupled with a warm Mediterranean climate in the north and a diverse array of natural resources including unspoiled golden beaches along its vast Mediterranean and Atlantic coastlines, the dramatic Atlas & Rif mountain ranges and the Sahara desert in the south which separates Morocco from the rest of the African continent.

Nowadays Morocco is already making a name for itself as a new property in Morocco investment hotspot. Morocco´s luxurious property developments are generally accepted to be of the highest standards available and very competitive prices allow Marrakech property to boast top quality property in 5 star luxury resorts for a fraction of the price of far less caliber property elsewhere. As well as the cultural cities of Marrakech, Casablanca, Fes and Tangiers, Morocco offers an abundance of pristine coastline along both the Atlantic and Mediterranean Sea which is attracting buyers looking for a quieter and more beach orientated way of life.

On January 10th 2001 at the National Meeting on Tourism in Marrakech King Mohamed VI announced the launch of a new tourism policy for Morocco. He had recognised that the country had been underachieving in the tourism sector; it’s unbeatable combination of climate, culture and stunning natural scenery should have placed it at the forefront of world travel destinations.

The King announced a new sustainable, integrated tourism policy known as “Vision 2010”. Vision 2010 was translated into a framework agreement between the government and the country’s leading sector players, with a set of key objectives, including increasing the number of visitors by 15% each year to reach 10 million visitors by 2010.

The Plan Azur is a key component of this endeavor. It provides for six new generation coastal resorts, meant to realize the kingdom’s obvious beach tourism potential, while firmly positioning Morocco as a destination combining world-class holidays with cultural, fitness and eco-tourism, for an “intelligent seaside tourism” offer. The locations of the six new resorts were chosen to balance the country’s development, long focused on the Casablanca – Rabat axis.

One of the most significant moves to increase tourism is the decision to operate the “Open Skies policy” which makes Morocco far easier for airlines to offer services into property in Morocco. The promotion of competition among airlines will, in turn, bring down the cost of air travel to Morocco and make travelling to Morocco an easier option for potential tourists worldwide.

So far, the plan has succeeded beyond expectation. Morocco welcomed 6.5 million visitors in 2006, compared to 2.2 million in 2001. And with major political, economic and social agreements in place with Europe and America, the foundations are well and truly laid for even greater success.

If you are serious about investing in Morocco then its essential that you firstly fully research the area, your tax and finance options and appoint quality legal representation. As with all emerging property markets its the early investors who take advantage of the best prices the very beginning of the new market. Tangiers property currently offers investors excellent prospects and a perfect vehicle to invest in early to generate good rental yields and excellent capital appreciation returns over a longer period.

Nicole Williams, researcher for Morocco property

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