Moroccan Sands to bump Moroccan Property into the Premier League

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MOROCCAN SANDS TO BUMP MOROCCAN PROPERTY INTO THE PREMIER LEAGUE

Wednesday, 20 Aug 2008

With the majority of demand for property in Morocco coming from places like the Middle East, France, domestic buyers, US, the Irish buyers and also every country that has remained stable with their house prices or rising, the market has been unaffected to a large extent by the collapse of confidence from UK. Michael Kent, managing director of Morocco Property expert Moroccan Sands remarked that he’s surprised that it has taken as long as it has, considering the number of advantages that Morocco affords visitors. Kent adds that the number of enquiries is constantly rising and increasing numbers of people realise the benefits that the region holds. Kent adds, “With a pro-active government, rising prices and easily available credit, the conditions are ideal for a successful Moroccan property investment"

As announced by a leading property magazine Homes Overseas, property in Morocco is now one of the most elite and sought after destinations available to buy abroad. The Moroccan banking division is in good shape making it easy for international buyers to obtain mortgages; this is due to the fact that the banks in Morocco have been barred from self-exposure to the global credit markets because their currency, the Dirham, is non-exchangeable.

A steep climb in the amount of people finding accommodation in Morocco or buying property in Morocco can be seen. Prices in property start around 60,000 pounds for a decent unit, and people also realise that to make money you need to put in money - and there are profits to be made, so Morocco wouldn’t be the cheapest destination. With the latest figures available from the Tourist Authority showing that the amount of people coming into Morocco has increased by 8% from the previous year, the region is on its way to achieving its goal to have 10 million visitors each year by the year 2010.