Real estate investors who want to pick up a property in Moroccoshould concentrate their search on Marrakech.
This is the advice of Nik Kapur, director of M2Morocco, who explained the city is one of the best markets to focus on in the nation because it is “the most established tourist destination”.
He noted city centre apartments in particular are sought-after among both domestic and international investors, pointing out they present “a good opportunity for both rental income and capital growth”.
Mr Kapur went on to say that Marrakech is only set to become more appealing with the addition of a new terminal at the city’s airport, which will in turn help to boost the number of visitors arriving in the destination.
Obtaining finance to make a property purchase in Morocco is not overly difficult for overseas buyers, he explained, revealing 70 per cent mortgages are available. “The Moroccan banking system is strong with a lot of liquidity, so that is fuelling increasing demand for property and resulting in more sales,” Mr Kapur concluded.
Earlier this month, Global Arab Network reported on figures published by Bank Al Maghrib, which showed the number of purchases of residential property in Morocco increased by 22.8 per cent in the final quarter of 2011, compared to the previous three months. Transactions for apartments accounted for 61 per cent of total sales.
