Property in Morocco – Guide to Buying Property in Morocco

In the 21st century, Morocco is the country on the African continent that is experiencing one of the fastest growing and fastest paced real estate markets in the region. There are a number of reasons why this is the case, chief amongst them is the fact that Morocco has enjoyed relative stability for an extended period of time. In addition, the climate in many parts of the country is very appealing to people from many different countries around the world.

With the brisk business that is being conducted in the Moroccan real estate market, many foreign nationals have invested in the country’s real estate. Foreign nationals have been found to be investing in commercial real estate as well as in vacation properties. Further, some foreign nationals — particular those from France — have invested in second homes in Morocco. (France has a long association with Morocco, the Kingdom of Morocco having once been a French colony.

Investment Property in Morocco

As references, foreign nationals have been active investors in the Moroccan real estate market. Foreign nationals can be found holding all types of real estate in the Kingdom, including commercial, industrial and residential properties of different varieties (including vacation real estate).

On balance, investments in Moroccan real estate has proven to be a sound and solid investment. The value of real estate in Morocco has increased steadily over time. There has not been an overheating of the market in Morocco as has been experienced in some countries around the world. When a market overheats, the end result usually tends to be a collapse of the real estate market at least to some degree .

Residential Property in Morocco

Some foreign nationals have taken to purchasing single family residences in Morocco. The majority of these foreign nationals that do purchase single family dwellings are from France — again, because of the historical association between the Republic of France and the Kingdom of Morocco.

There has been a noticeable up tick in the past decade in the number of non-French foreign nationals who have taken to purchasing single family residences in that country. Primarily, these foreigners are buying these single family properties for holiday purposes. These second residences are being bought because many people have learned how lovely the climate is in many parts of Morocco .

Residential Real Estate – Apartments in Morocco

The Moroccan government has taken some pretty aggressive steps in attracting foreign commercial interested into the country. In this regard, the trade in apartments in the commercial centers of the country has been brisk since the turn of the century. More often than not, foreign nationals that have been found investing in this type of real estate are doing so because they need more long term residences in country while they are involved in some sort of commerce based project.

Some foreign nationals have taken to developing apartment buildings and complexes which they are then in turn leasing to other foreign nationals who find themselves in Morocco for extended stays due to business related obligations. This has proven to be a fairly lucrative venture for many of these foreign nationals. Again, the French have been leading the way in this type of investment and development. However, other foreign nationals are becoming more involved in this type of development and ownership as the country continues to work at brining more foreign business, investment and capital into the Kingdom.

There are also a growing number of foreign nationals who have invested in apartment complexes and buildings in hopes of attracting some of the tourist trade that ventures into the Kingdom annually. Many visitors intend to stay in country for an extended period of time on holiday, making an apartment a very attractive housing option while visiting Morocco .

Holiday Property in Moroccan Holiday Resorts

During the couple of decades, a growing number of people have taken to spending holidays in the Kingdom of Morocco. Indeed, the government of the country has made a concerted effort to attract tourists to the country. Attracting tourists has become a primary concern of the government since the dawn of the 21st century.

With this in mind, there has been a significant demand for vacation real estate in the Kingdom. Many foreign nationals are buying real estate for vacation purposes in different regions of the country. In this regard, a majority of these foreign nationals are purchasing this type of real estate for their own usage. Foreign nationals for an array of different countries have taken to spending extended vacations within the Kingdom of Morocco.

In addition to purchasing vacation real estate of a foreign national’s personal use for holiday travel, some foreign nationals have come to understand that there is money to be made through the ownership of real estate that can be used for holiday and vacation purposes. Thus, a significant number of foreign nationals have purchased vacation real estate throughout the Kingdom which they, in turn, are leasing and renting to other people for use during holiday stays in the country. For some foreign nationals, this type of investment has proven very lucrative, particularly in light of the concerted effort that the government of the Kingdom is making to attract visitors and tourists to the country .

Specific Steps to Buying a Property in Morocco

Over the course of the past decade, the government of Morocco has worked to attract more foreign investment in the country, including efforts to encourage more foreign nationals to purchase and invest in property in the Kingdom of Morocco. To this end, the government of Morocco has taken pains to simplify the process through which foreign nationals can purchase and take possession of property in the Kingdom. In short, the government is committed to encouraging an infusion of foreign investment and capital into the Kingdom. Naturally, a more liberal course of foreign ownership of real estate plays a vital role in enhancing the overall activity of foreign investors in the economy of Morocco.

In Morocco, as in many nations around the globe in this day and age, the first step in purchasing property in the Kingdom of Morocco is the making of a verbal offer by the potential buyer to the seller. More often than not, the oral indication of intent to purchase of conveyed from the potential buyer to the seller through an agent. Agents do play pivotal roles in the buying and selling of real estate in Morocco. Indeed, it is a rare real estate transaction that does not involve the services of a real estate agent.

If the seller accepts the offer, or propounds a counteroffer that ends up being accepted in turn by the potential buyer, a preliminary contract is drafted. Normally, in Morocco, this document is the handiwork of a lawyer. There are standard forms that can be utilized for this purpose. However, most foreign nationals indicate that they feel more comfortable having an individual and specific agreement drafted by a qualified lawyer.

Following the execution of this preliminary agreement, the buyer is involved in obtaining financing for the real estate purchase. The seller is occupied working to make certain that there are no encumbrances on the property that might impair the ability of the seller to convey the property to the buyer when the real estate transaction moves to conclusion.

At the point in time that this initial contract is executed, the buyer is obliged to put a deposit on the real estate. Generally the deposit is in the amount of upwards to 30% of the total purchase price of the real estate that is the subject of the transactions. In some instances, a buyer will have up to thirty days from the date that the initial contract is signed to post the deposit required by the terms and conditions of that agreement. The balance will be do at the time that the final agreement is executed between the parties to the sale.

There are some mortgage lenders doing business in the Kingdom that cater specifically to foreign nationals that are interested in buying real estate in the country. By using such a mortgage lender, many foreign nationals have found completing the real estate purchase process in Morocco to be an easier process overall.

In order to consummate the sale, it is necessary for a foreign national to open a bank account within the Kingdom of Morocco.

Ultimately, the parties to the real estate transaction will execute a final contract that will result in the conveyance of the real estate from the buyer to the seller. At this time, the property is registered with the government of the Kingdom and the buyer becomes the owner of record of the real estate in question.

Generally speaking, the registration process can be consummated in a pretty short amount of time. In most instances, this phase of the property buying process normally can be wrapped up and concluded within a matter of days

Property Abroad always recommends using a Solicitor or Lawyer.

Property Abroad’s directory Les Calvert writes interesting and useful articles on all subjects dealing with overseas investment property and buying property in Morocco. Visit their website to view their property for sale in Morocco and other useful information on buying property abroad.

Read More

What is the best type of HD television for outdoor viewing?

I am trying to find the optimum HD television to buy to put in an outdoor bar. I am worried about the glare factor because the sun is very prominent at that part of the yard. The television would be in a covered structure, so few rays will directly hit the TV. I am looking to go in the $800-$1000 price range, and would like to get around a 42″ screen. What would be the best type of television to remove or limit the glare?

Read More

And now for the important news ….

News Corp buys out Hearst’s stake in SmartMoney
News Corp. is buying out Hearst’s 50 percent stake in SmartMoney, giving it complete ownership of the magazine.

Read more on AP via Yahoo! News

News and notes on the PGA Tour’s top 20 golfers
Get the latest news and notes on the top 20 golfers on the PGA Tour. These rankings are based 2008-09 PGA Tour results.

Read more on USA Today

And now for the important news …. | Hawaiians headed for the hills Friday after news channels warned that a killer tsunami was coming. The wave was three feet high but it left quite a crowd on the beach. Whales can talk and the word had to be out that there’s an opening at SeaWorld.

Read more on Jewish World Review

Read More

What are the best news sites for a potential weekly news show?

My friend and I want to start a weekly news show , and i want ot know the best places for Information. We want more odd ,artsy, and liberal news though not relay the depressing stuff you see on T.V. If you have any ideas it would be really helpful!

Read More

The Fate of Africa: A History of Fifty Years of Independence

  • ISBN13: 9781586483982
  • Condition: NEW
  • Notes: Brand New from Publisher. No Remainder Mark.

Product Description
Fifty years ago, as Europe’s colonial powers withdrew, Africa moved with enormous hope and fervor toward democracy and economic independence. Today, most African countries are effectively bankrupt, prone to civil strife, subject to dictatorial rule, weighed down by debt, and heavily dependent on Western assistance for survival. What went wrong? Focusing on the key personalities, events and themes of the independence era, Martin Meredith’s magisterial history seeks to explore and explain the myriad problems that Africa has faced in the past half-century, and faces still. Acclaimed by reviewers and readers from across the political spectrum, The Fate of Africa is essential reading for anyone seeking to understand how it came to this – and what, if anything, is to be done.

The Fate of Africa: A History of Fifty Years of Independence

Read More

South Africa Sells $2 Billion of Bonds in Biggest Overseas Sale

Arcelormittal South Africa Says Shares Remain Suspended on JSE
March 3 (Bloomberg) — ArcelorMittal South Africa Ltd. said its shares remain suspended from trade on Johannesburg’s stock exchange.

Read more on Bloomberg

South Africa May Get Co-Generation Help, Business Report Says
March 3 (Bloomberg) — South Africa may introduce support for co-generation power projects, similar to that given to renewable-energy programs, Business Report said, citing National Energy Regulator of South Africa member Thembani Bukula.

Read more on Bloomberg

South Africa Sells $2 Billion of Bonds in Biggest Overseas Sale
March 3 (Bloomberg) — South Africa sold $2 billion of 10- year bonds in the country’s biggest international debt sale to finance its budget deficit. The country issued the 5.5 percent securities to yield 5.59 percent, according to data compiled by Bloomberg.

Read more on Bloomberg

Read More

Yes We Can – Barack Obama Music Video

Congratulations, Mr. President. -Lyrics- It was a creed written into the founding documents that declared the destiny of a nation. Yes we can. It was whispered by slaves and abolitionists as they blazed a trail toward freedom. Yes we can. It was sung by immigrants as…

Read More

How Television Works

Devon Grey’s new trilogy, The Corporate Media Survival Guide introduces viewers to television’s hidden technology and the unspoken corporate agenda that surrounds it. Segmented into five informative and entertaining sections, ‘How Television Works’ is a must see for anyone curious about who controls television, why producers alter their programming to appease corporate sponsors, and what detrimental affects television has on human brain chemistry, attention span and behaviour.

Read More

Krishna to inaugurate seminar on India-Africa relations

South Africa to Sell $2 Billion of 10-Year Bonds (Update1)
March 2 (Bloomberg) — South Africa is seeking to raise $2 billion from a sale of dollar-denominated bonds, according to a person familiar with the deal.

Read more on Bloomberg

World Cup 2010: Kermit Erasmus Will Join South Africa’s Brazilian Camp For Two Weeks
According to Kick Off , Excelsior coach Alex Pastoor has met with South Africa tactician Carlos Alberto Parreira in Holland. “Our meeting was okay,” Pastoor said. “Carlos Parreira came with the administrative manager and the physical coach.


Krishna to inaugurate seminar on India-Africa relations
New Delhi, March 3 : External Affairs Minister S.M. Krishna will inaugurate a two-day seminar titled ‘India and Africa: an emerging partnership’ here Thursday.

Read more on New Kerala

Read More

What music is played when the visiting team’s starting lineup is announced at Celtics Games?

I want to know what song/music they play when the PA Announcer announces the starting lineup for the VISITING team at Celtics games. There are no words, it’s just music and it has been the same for years. I don’t want to know anything about the Celtics starting lineup music, thank you though.

Read More