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By: Bill Mackay

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Whether it’s a raid in Marrakech or a villa in Mediterranean Sadie, property in Morocco still looks like a good investment, says Jane Xxx
After the world woke up from the Dubai dream in November, those looking for a property in warmer climes would be forgiven for feeling cautious. But one country with an attractive climate looking buoyant is Morocco, with its beguiling, exotic charm and strong sense of history and culture. Add to that its dramatic mountain scenery, endless pristine beaches and the rich, vivid life of the souk, and you have a country that is world away, but just a three-hour hop on a plane.

Faring better under global recession conditions, Morocco is now one of the most stable economies in northern Africa. A youthful and progressive king, Mohammed VI has enthusiastically embraced economic development and has changed laws to make property investment easier for foreigners, providing an array of tax incentives such as low CGT, no inheritance tax and no property tax for the first five years.

His ambitious tourist project Vision 2010 aims to attract 10 million visitors a year to the country where English, French and Spanish are widely spoken, and is responsible for an extensive programmer of resort development, such as the flagship Mediterranean Sadie on the north coast.

In the last ten years, house prices have more than doubled in Morocco, particularly in the popular cities of Tangiers, Marrakech, Fez, Rabat and Casablanca. Buyers have the option of an older property, such as the traditional Moroccan townhouse, or ‘raid’ that can be found in the medians of the old cities, or a European colonial-style home (high ceilings, cool spaces, shutters, landscaped gardens) normally found in special development zones on the outskirts of cities, or a property within one of the big Mediterranean-style resort developments with amenities such as swimming pools, shops and restaurants.

“With 333 days’ sunshine, amazing culture, the Atlas Mountains, some top-quality golf and easy access from northern Europe, Morocco is a lifestyle opportunity just too good to miss,” says Robert Shaw of Elite Morocco Properties. The company offers a range of properties from raids to villas to resort penthouses. For those looking to immerse themselves in the rich Arabic culture, Shaw recommends a raid. With traditional Moroccan architecture and furnishings set in beautiful private courtyards and terraces, raids offer a peaceful environment away from the hustle and bustle of the city, while still within its heart. But where to buy?

“Marrakech, Marrakech and Marrakech,” says Shaw. Not only are raids an authentic slice of Moroccan life, but they make a canny business opportunity too. “Occupancy rates can reach as high as 90% per annum, and with some of the best guesthouses charging up to €250 per night, the renovation and management of riad property is now an extremely attractive investment opportunity,” says Shaw. “Once a raid has an established client base, the property and business can be sold for many times their original value.”

A property in need of work can cost from £50,000 upwards, while a refurbished raid can set you back anything from £150,000 to over a million pounds. But Shaw’s company can guide prospective buyers through the whole process. “Elite Morocco Properties have a team dedicated to sourcing the best raid opportunities and we can help you with everything from legal advice to renovation to management, rental and even the sale of your finished raid.”

Wherever and whatever you buy, says Michael Kent of Moroccan Sands, the property company marketing the Blue Pearl Golf Resort in Sadie, make sure you take good advice. “It is fairly straightforward to buy property in Morocco and there are good tax benefits,” says Kent, “but make sure you use a good independent local lawyer with knowledge of the Moroccan system. You should also ensure that all the payments you make for the property go into Morocco. This makes repatriation of the profit much easier.”

Moroccan tourism’s flagship Plan Azure project offers luxurious resort living in the government-backed Sadie development, which has covenants in place to cover any failure by developers. There is also a 15-year no-build guarantee on the surrounds so that the value of properties cannot be diluted by copycat developments. With shops, restaurants, sport and leisure facilities, marinas, golf courses, landscaped gardens and of course miles and miles of beaches, Sadie is at the centre of the King’s Vision 2010 programmer, and he often visits to monitor its progress. A variety of house styles are available, from apartments to penthouses and villas, starting at around £100,000.

When it comes to budgeting, on a £100,000 property for example, you would need to allow for around six to seven per cent to cover stamp duty, lawyer and notary fees, land registry and agent fees. So with links by air improving all the time, a glorious year-round climate and an exotic and colorful culture, Morocco seems perfect for Brits looking for some guaranteed winter sun.

Article Source: http://depositarticles.com/

Bill Mackay works and writes for the leading offline and online magazine Living Abroad Magazine. The magazine is your monthly guide to living and buying abroad , with a wealth of information, stories, and guides.

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