For a little bit of paradise and a safe return and appreciation on your property – Morocco is one of the best emerging markets.
Morocco is strategically located with both Atlantic and Mediterranean coastlines, and a rugged mountainous interior. Being Europe’s nearest exotic location, only three hours flight from the UK and offering many attractions, as well as the excellent climate, it is becoming an increasingly popular tourist destination.
This country’s close association with France (it was ruled by the French from 1912 to 1956) means that it has been popular with French buyers for a long time. British buyers are as yet still to discover Morocco’s charms in any great numbers. However, this is changing.
Buyers have been focusing mainly on Marrakech, with traditional Riads (houses built around a central courtyard with a fountain) being particularly popular. Whilst Marrakech is home to many attractions including the nation’s best golf courses and hotels, and having the Atlas Mountains on its doorstep, it does lack a coastline. Nevertheless, opportunities for purchasing coastal properties do exist.
Already luxury developments in the most sought after areas are changing hands for large amounts of money. Good value properties can still be found, but Morocco’s popularity as the most exotic short-haul destination available to Western Europeans is starting to have an impact on property prices as well as the tourist industry.
Presently Morocco is one of the world’s leading areas for property investment due to a vast number of factors. Morocco property is currently at the beginning of an expected property boom, with King Mohammed at the head of a multi billion dollar initiative to drastically increase tourist numbers by 2020.
Here we are particularly concentrating on the Town of Tarfaya south Morocco. This town which would not normally be of interest to European buyers compared to the likes of Marrakesh due its location and having to fly from Europe into Casablanca then onto Laayoune which is not the easiest of connections is about to undergo significant changes.
There is to be a ferry route to begin operating in the following months connecting Fuerteventura in the Canary Islands with the town of Tarfaya. This connection will allow a direct and very cheap flight from the UK to Fuerteventura then a 3 hour ferry trip can be enjoyed across to Tarfaya. Once you arrive in the town there is no travelling needed as the port is a five-minute walk from the center of the town. This ferry route was already started in 2007 but unfortunately the port was not designed for the large ferry ship at that time and the ship got into trouble when leaving the port and became stranded on a sand bank where it still lays today. Since that time a new docking bay deeper in the ocean has been added to the port to accommodate a the new ferry service, which is about to being sailing.
I personally caught the last ferry when it was in operation and I can tell you that the 3 hour journey which is a daytime sailing was a great experience as it was in baking sun and throughout the entire trip the ferry was surrounded by dolphins that crossed the water with us. You can google this ferry service and discover how many people are awaiting it. This town is at present untouched by tourism and so property prices are far lower than in the north, which is now over sold and too touristic. A luxury apartment in Marrakesh would put you back around £300k yet the same apartment in Tarfaya is far less but you have to hurry, word is getting around and when the ferry route begins prices will without doubt climb. In fact they have already started rising.
Here are a few good natural and economic reasons to invest in property in Morocco:
- Beautiful sandy beaches and desert dunes.
- Tarfaya is a fishing town with an abundance of fresh fish, crabs and lobster at incredibly cheap prices.
- Stunning golf courses, tennis clubs, riding clubs, Water skiing, Sailing, Scuba diving, Hunting, Hiking, Camel treks,
- African climate – Hot summers and Hot winters, with desert cool nights
- Amazing off-road adventure opportunities within the surrounding desert.
- French, Spanish & English widely spoken as well as traditional Arabic.
- Sight Seeing – Fascinating Medina’s, historical monuments and buildings.
- Costa del Sol is just 30 minutes away by hydrofoil from Tangiers.
- The Canary Islands are just an hour and a half away by ferry from Tarfaya.
- Tarfaya is a tax-free town. No taxes on selling or letting your property. No taxes on running a business. No taxes on fuel.
- Petrol being 40 British pence a litre, approximately 50 Euro cents.
- Average monthly water bill for two people – £5
- Average monthly Electric bill for two people – £5
- Average monthly Gas bill for two people – £5
- Cheaper flights with low-cost carriers, including Ryanair and Easyjet leading the way to the Canary Islands and many airports in the north.
- Property prices are at least 80% less than other European resorts.
- Low cost of living – experience a luxury lifestyle at little expense.
- Bordering a booming property market.
- 0% Inheritance Tax to family.
- No annual property tax. Ever. Compared to the north where it is for first 5 years only.
- Rental occupancy available.
- Huge project (Vision2020) to increase tourism backed by King Mohammed and the UAE.
- Aiming to improve infrastructure and increase tourism to 20m visitors per year.
- Increased tourism generated by the Vision 2020 project will create a huge requirement for rental accommodation.
- Vision 2020 to provide new roads, marinas, trains, 5 star resorts, shopping malls, golf courses, beach clubs. With investments in excess of 10 billion pounds sterling.
- Open skies policy activated on 1st Jan 2006 will allow low-cost airlines to service Morocco and create more competition thus lowering fares.
- Yacht club & berth fees free.
- Safe investment
For an honest approach on investing in Tarfaya contact us. We are a British / Moroccan partnership company. Contact us.