An attractive to foreign investment - buying property in Morocco
Property in Morocco is becoming a favorite of foreign investors because of its transparent economy and huge potential of this burgeoning market. The media indeed high status in these major projects such as "Vision 2010", which includes extensive economic and improvements for large-scale tourism developments.
There has been an increase in programs and news programs that promote constantly rising property market Moroccan, with statistics now show that the time 3 of 5 African property of Europeans abroad are the interior of Morocco. This figure is likely to increase as the government continues to push more initiatives to encourage foreign investment and tourism, a win-win situation that the country's economic growth steadily increases and foreign investors eye a market lot more favorable among his closest competition 's like Spain, Egypt, Turkey and even Dubai, who are struggling with the pace of Moroccan properties quickly convert.
According to the World Travel and Tourism Council (WTTC), tourism in Morocco is set for sustained growth over the next five years two to four percent growth. More tourism means the need for accommodation, rental property in Morocco is booming and attracting investors in abundance. Luxury hotels are built and updated throughout the country, to name Marrakesh open 20 grand 5-star hotel in the festive season alone.
Among the British who now see Morocco real estate as a better option than his Spanish counterpart, so do the Spanish, French and Italian. When the Spanish property market is oversaturated with a higher price and risk, the Moroccan property market is still young and has a lower risk cost report.
Moroccan Property Investors views:
Weather conditions • Excellent all round the year
• Buy only 1.0% tax on the total price
• Registration of government 4% fee.
• Legal fees of 0.5%.
• Property Agency commission of 2.5% - 3%
• Rental income is taxed at 13.5%. Rental income is exempt from tax for the first five years.
• 20% of the tax on capital gains if sold within 5 years, 10% at 10 years, 0% thereafter.
• Casablanca and property prices to average around Marrakech? 2,000 sqm.
• returns the local rental market around 7% property - 10%
• Property prices could rise by up to 35% in some hot spots
Moroccan property market is currently a boom, it's time to invest if you are able ..
