Restaurants, Hotels, Property in Morocco - Justgo Morocco

General Overview of Moroccan Property
The promising emerging Moroccan property market is strongly attracting worldwide attention. In fact, shrewd investors in property are already buying property in Morocco which is right now one of the world’s hottest property spots. For those who are familiar with the recent developments in Morocco this should come as no surprise. Both the king and the government are firmly committed to boosting Morocco’s economy and developing the country’s infrastructure to unprecedented standards.

Morocco’s official commitment to development started in 2001 when tourism was set up as a national economic priority. His Majesty Mohamed VI officially presided over the Framework Agreement between the Government and the General Confederation of the Moroccan Enterprises, with an implementation planning, follow-up, and assessment operations. Taking tourism as a potential socio-economic development factor, Morocco’s new tourism policy is best captured in the so-called « 2010 Vision » and « Plan Azur », key strategies of national development. The objective is to achieve 10 million tourists per annum by 2010. The Plan Azur development strategy consists in constructing six « kings’ resorts » by high profile multi-billion dollar companies. Morocco’s new policy creates confidence and encourages people to invest in Morocco. The first of these kings’ resorts, now underway, will be at Mediterranean Saidia.

Moroccan property is a market in its infancy. Property prices in Morocco are still relatively low compared to prices in nearby Mediterranean locations. Shrewd investors can still get away with buying property in prime locations with substantially low prices. The high standards and 5 star lifestyle of the carefully designed Moroccan resorts creates an up-market tourist attraction. To invest in property in Morocco amounts to producing substantial rental returns especially as the pace of tourism is set to grow faster than that of constructing property to accommodate the ever-growing number of tourists. Compare 2 million tourists in 2001 to 6.5 million tourists in 2006. Aren’t the numbers significant in themselves?

Property in Morocco at this early stage can still be purchased at bargain prices compared to other destinations. Morocco’s flourishing tourism sector has been reported to reach an occupancy rate of 85% for rented properties in high season. Everything seems to indicate that the strong emerging Moroccan property market offers an excellent opportunity for secure investment. But if you still have doubts about investing in Morocco then the following factors, in addition to the ones mentioned above, should be sufficient enough to dissipate your doubts:

Massive foreign investments in Morocco (over 20 billion pouring in from the Middle East, France, Spain and the US in 2006).
The ambitious 2010 Vision project aims at booming tourism and developing the infrastructure (new roads and highways, fast trains, marinas, 5 star luxury resorts, beach clubs, shopping malls, etc.).
The 2010 Vision creates a huge need for rental accommodation.
The 2010 Vision and the Plan Azur strategies are open expressions of Morocco’s official commitment to national development.
Some of the world’s most important and respected companies are committed to Morocco’s developmental program.
Morocco is currently active in the European Neighbourhood policy which it is hoped to lead to a « special status » relationship with the European Union.
  • The Open Sky Policy, in place since 1st Jan. 2006, will contribute to lowering flight costs to Moroccan destinations.
  • Morocco has the fourth largest economy in Africa and is at 58 globally, according to the International Monetary Fund.
  • Substantially lower property prices than other close European resorts while the construction standards are the same as in Europe.
  • Between 0 and 20% tax on any capital gain.
  • 0% inheritance tax to family.
  • No annual property tax for the first 5 years.
  • 70% mortgages available.
  • Capital growth between 15% and 30%.
  • 85% rental occupancy rate during high season.
  • Average construction time on Moroccan projects is 18 to 24 months.
  • Secure investment as buying property goes through a notary as in Spain and France.
  • Morocco’s proximity to Europe (it takes between 2.5 and 3 hours to fly to Morocco from the main European capitals).
  • Morocco has some of the most beautiful beaches (the coastline of Morocco reaches 1,140 miles on both the Mediterranean and the Atlantic).
  • Morocco offers a wide variety of fascinating natural settings: beautiful sandy Mediterranean and Atlantic beaches; the inland snowcapped Atlas Mountains and the desert, to name but a few.
  • Morocco enjoys a typical Mediterranean climate: hot in summer and mild in winter.
  • Last but not least is the cultural aspect of the country. Morocco offers a rich culture based on diversity and variation. Morocco is an Arab Islamic State of a particular kind. The country offers spectacular signs of cultural richness and diversity weaving together aspects of tradition and modernity. Morocco is the only Arab Islamic country that escaped Turkish occupation. The result is aspects of an authentic traditional culture. In Morocco, tradition and modernity exist side by side. This dichotomy between the traditional and the modern may be detected in several aspects of Moroccan cultural life: in lifestyle, architecture, dress, language, cuisine, etc.








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