HiFX News@ 12:00 AM
Investors considering purchasing homes in Morocco will find it has a stable, secure property conveyance system based on the French model, according to an expert on the country’s residential housing market.
Nik Kapur, senior consultant at M2Morocco.com, said the system is widely considered one of the safest in Africa and the Middle East for people sending money overseas to finance property acquisition, meaning buyers can be confident their investment will be in safe hands.
He explained that by using notaries and a secure land registry along the French lines, with many legal documents drawn up in the French language rather than Arabic, the system can often appear more transparent to European eyes.
However, Mr Kapur noted that there are several checks buyers should make before going ahead with purchasing property in the country.
“Checking that property in Morocco has a clear title is vital,” he argued.
“It is also worth noting that mortgages are now available to foreign buyers up to a maximum of 70 per cent.”
The consultant advised potential British buyers that Morocco can be considered a more Europeanised country than many of its neighbours, despite its ostensibly Islamic government, possibly making it a relatively easy place for Britons to emigrate to.
“Morocco is a bilingual country with most locals speaking both Arabic and French. There are also increasing numbers of English and Spanish speakers,” said Mr Kapur.
He added that alcohol is widely available, while many Muslims in the country hold fairly liberal political and religious views.
Morocco has a population of roughly 32.3 million people and has both Atlantic and Mediterranean coastlines, with a culture influenced by European, Arab, Berber and African worlds and a past as a crucial trading epicentre of the north African world.
It has become increasingly Europeanised in recent years, to the extent of expressing interest in membership of the European Union, according to BBC News.
Posted by Sarah Pitton
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