Property Select - Overseas Property News

Brand new guide to buying property in Morocco

Tue, 7 Oct 2008 00:00:00 GMT

A well-known and trusted source of information, Home Overseas, a global property magazine, has released an article that anyone contemplating buying property in Morocco will find very informative. Anyone wishing to invest in accommodation in Morocco will find assistance in this article, which is divided into various helpful sections, each of which focuses on specific facets relating to the purchase of property in Morocco.

The property sector in Morocco has become rather diverse, and the article starts off by discussing this on an overall basis, including mention of how relevant the strategy for tourism is with regards to this, as well as factual conclusions based on research. Other points of focus are the fact that Morocco is an easily-reached destination from places such as the United Kingdom, and the article also provides realistic facts and reasons that make property investments in the region viable.

Over and above highlighting the viability of investing in property in Morocco, the article highlights the natural attractions in the region, such as the lovely beaches, and makes mention of other attractions too, such as the golf courses that are currently being built in the region.

All facts promoting the investment of property in Morocco are followed with solid factual information that includes detailed information on the rates of exchange (ROE), the currency, formalities for Visas, the climate, and the language spoken in the region, amongst other things. The article even discusses medical insurance in the region.

The article also goes into great detail on the process for purchasing property in Morocco, and provides the tax and fee structure for the purchase of property in the region, too. The article is further helpful to investors by providing a link to a similar article, just as detailed as the Home Overseas article, that gives information and advice that any investor will find useful.

Addoha sees up to 40% increased profit

Fri, 3 Oct 2008 00:00:00 GMT

Morocco property company Addoha ADH.CS has stated that it has seen a rise in net profits of 40% during the company’s first-half, despite the fact that the company’s shares did not trade due to analysts stating that the figure is far below what was expected. Addoha stated that its net profit increased up to 319.3 million dirhams and its operational profit has doubled to an incredible 483.9 million dirhams.

One analyst from Casablanca who prefers to not be mentioned by name, states about the Morocco property company, “Addoha was a big disappointment - to now people have been expecting something around 2 billion dirhams profit in the full year.” Another disappointment was the drop recently in the benchmark index that very nearly rendered earlier gains during the year null and void, which came amidst dropping world stock indexes.

Firms dealing in property in Morocco and other real estate companies pushed for the largest Maghreb stock market to gain new heights in the first half of this year, while those investors wanting to invest in Morocco accommodation did their best to benefit from the building boom in the region, which in turn greatly accelerated the rate of investment within the private sector.

Analysts have still, however, expressed their worries with regards to the outlook in the Morocco property sector in the last few weeks, because the international credit crisis could very well cause much of the investment currently coming into the country to grind to a halt. Addoha doesn’t seem at all concerned with its prospects to continue to earn well, and with regards to the expected increase of new homes being ready, an Addoha spokesperson says, “Sales and the net result in the second half of 2008 should register a clear increase compared to the previous half.”

Estate agents selling property in Morocco are smiling

Wed, 1 Oct 2008 00:00:00 GMT

In Marrakech, Morocco properties have renovation projects underway that range from a five-bedroom property for £157,000, to a newly converted 17th century treasure of a riad with a generous nine bedrooms, in close proximity to Djemaa El Fna Square, for an astounding £1.77 million.

Therefore it is no surprise, considering the fortunes spent on property in Morocco, that real estate agents are smiling. However, find a good, reputable lawyer to oversee the purchase of your property. This is because French law applies in Morocco, and purchasing an old property usually involves locating multiple owners and modern title deeds may be required if only Arabic papers are available.

Purchasing accommodation in Morocco can involve contract builders to resurrect your new home, and this involves the nightmarish prospect of taxes and fees that amount to ± 6% of the property's sale price. Add to that the agent’s fee, which is 3 to 5% of the purchase price.

However, the joy of a newly renovated property in Morocco may include some shoddy plumbing, which can sometimes result in cold showers and hot flushing toilets. It is recommended that the new owners oversee everything and remain on site at all times. Renovation stories are rife with mistakes that range from painting over stunning original tiles to domestic pets.

Kate, a retired art teacher from London who owns a house near the Bab Tagazhoute gate, 20 minutes' walk from the city's Djemaa el Fna Square, said, "If we had known how hard the renovation was going to be, we would never have taken it on." She warned potential Morocco property owners who want to renovate that leaving a riad unoccupied is an invitation to others to get up to all sorts, as Kate discovered. "Riads are very private buildings and you must have live-in staff. Otherwise you can return to find your house being used as a brothel, as we did once," she says.

New resort property in Morocco announced by Fairmont Hotels & Resorts

Mon, 29 Sep 2008 00:00:00 GMT

A new property in Morocco, Fairmont Marrakech, will open its doors to the public in 2011, according to an announcement from Fairmont Hotels & Resorts. The resort will increase the brand’s burgeoning presence in the Middle East, Europe and Africa, which include Fairmont Towers Heliopolis in Cairo, Fairmont Mara Safari Club in Kenya, Fairmont Zanzibar in Tanzania and the Savoy in London, which will be re-launched next year after comprehensive renovations.

The new Morocco property, which will comprise 190 rooms, will give its guests an authentic Marrakech experience, since it is steeped in the region’s culture and ambiance. The architecture is a tasteful mingling of modern and traditional Moroccan styles, and will boast facilities and particulars unique to the historic culture of this vivacious country. This new Morocco property will include 5 top class eateries and beverage vendors, a surfeit of meeting and banqueting facilities and the brand’s own particular way of pleasing its guests with personal service and warm welcome in their Fairmont Gold offering.

As a North African destination, Marrakech is swiftly climbing to the top of the charts in the high-end market, and has a growing reputation as a top quality destination for golfing enthusiasts. The new resort property in Morocco will also offer a health club and spa with fourteen treatment rooms, an ice fountain, showers, steam room and lounges to relax in. In addition, the resort will also boast 32 Fairmont style luxury villas.

Marrakech is Morocco's second biggest city, and is situated in scenic desert surrounds with the snow-capped Atlas Mountains as a stunning backdrop. The city offers a wealth of tourist attractions, ranging from musicians and dancers in the Jemaa l-Fna town square during the day, to a selection of traditional markets and food stalls at night, not to mention the excellent Morocco accommodations.

First Premier hotel in Middle East to be built in Morocco

Thu, 25 Sep 2008 00:00:00 GMT

Two new holiday resorts will soon be built on Morocco property. Hivernage Resort & Spa Saïdia, which will be completed in 2010, and the Best Western Premier Le Jardin de Fleur, due to open its doors to the public in 2009, both of which will be located in Le Jardin de Fleur Saïdia and are being built by Property Logic, the foremost tourism developer of Mediterrania-Saïdia Morocco.

Mediterrania-Saïdia, which boasts a marina for leisure boats, conference venues, a trio of excellent 18-hole golf courses and a wide selection of world class shops and restaurants, is situated in an area called the ‘blue pearl of Morocco, just a 35 minute drive from Oujda International Airport. Best Western Premier is Best Western International’s new first-class service brand, and the company has decided to make the Saïdia seaside resort property in Morocco the location for the first Premier hotel to be built in the Middle Eastern and North African area.

The new resort property in Morocco is set to offer its visitors a wealth of leisure facilities, including first class restaurants, a clubhouse, swimming pool, entertainment for the family and spa all an easy stroll away from Saïdia’s golf courses and beaches. Property Logic has signed a management agreement with Hivernage, a hotel operator and member of the Great Hotels of the World Consortium, to build the Hivernage Resort and Spa on this Morocco property, and plans include 76 luxury villas with private swimming pools and Moroccan spas.

According to David Woodward, director of hotel and commercial operations for Property Logic, which is developing Le Jardin de Fleur resorts in Morocco, they plan to build 11 exclusive Morocco accommodation resorts with full service hotels, and are finalising contracts to manage more global and Moroccan hotel brands, thereby making Saïdia a top tourist destination.

Credit qualms cause property stocks in Morocco to fall

Wed, 24 Sep 2008 00:00:00 GMT

The shares for property in Morocco dropped to the extent of 6% recently. The sizable drop in percentage is due to qualms regarding the international credit crisis, and could result in a drop in the number of foreign investors in Morocco, the United Arab Emirates’ most quickly growing sector for property.

Various analysts say that the stock market in Morocco has been declining for a few months now, because investors feel that the price of the shares was too much when taking expectations for earnings into account, especially where the stocks for Morocco property are concerned. One analyst from Casablanca who prefers to remain anonymous says, “It’s been a long while that analysts have said the market is overvalued and a correction would be healthy.”

The analyst went on to say that the stocks for property in Morocco are seen as being more overvalued than any other property market, and are causing even more concerns to arise now due to the recent international credit crisis. He says further, “Morocco is not at all exposed to the same products such as subprime."

The same analyst also says, “People see there is a morose climate in real estate and they know these stocks are exposed to international markets that increasingly lack liquidity.” Real estate companies have empowered the stock market in Casablanca in a big way in the last few years, made easy by the fact that so many investors wanted to gain from the building boom for property in Morocco.

A portion of the future profits for companies buying and selling accommodation in Morocco and other property in Morocco is dependent on the demand for large new coastal properties that are geared towards European buyers looking for second homes in a good holiday destination.

Sorouh certain that bad UAE markets won’t damage its portfolio

Fri, 19 Sep 2008 00:00:00 GMT

According to the CEO of Sorouh Real Estate based in Abu Dhabi, the company has a portfolio that is valued at over Dh50 billion at this moment in time, part of which includes Lulu Island, according to Mounir D. Haidar. Haidar said that he is convinced that the Morocco property market, as well as all the other United Arab Emirates markets, will bounce back from the recent downfall of the Lehman Brothers banking company.

Haidar says, “The health of financial markets in the world is tied to the United Arab Emirates as well. It will have an impact. But, we are confident we will not only be affected and hopefully, it will be over soon.” It would seem as if Sorouh has some reason to be confident, as its Abu Dhabi Securities Exchange stock was up on Wednesday, a mere three days after the collapse, sitting at Dh5.60, and Haidar says that Sorouh will be following through on its plans for expansion that will include developments for property in Morocco and Egypt.

Haidar also said that the company will be making provision for over 7,000 �" 10,000 units for residential use during the coming three to five years, and went on to say, “Our prices are based on the cost of construction materials,” and that the company will sell its residential property for as little as Dh700,000 as well as villas for as much as Dh3 million.

Property in Morocco, Dubai and the rest of the United Arab Emirates is expected to continue to sell well, and Haidar said that Sorouh will be launching phase three of Gate Towers, a residential property development that will consist of three towers, on Reem Island in Abu Dhabi, and the upcoming show in Dubai hosted by Cityscape Realty.

Credit concerns cause Moroccan property stocks to fall

Thu, 18 Sep 2008 00:00:00 GMT

On Wednesday, the value of Morocco property shares dropped by as much as 6%, due to concerns that the worldwide credit crunch could have a negative impact on overseas investors in the North African kingdom’s burgeoning real estate sector. According to analysts, the stock market in Morocco has been growing stagnant for a while now because investors have been under the impression that the price of property in Morocco has increased beyond a reasonable rate for good returns on investment.

One analyst said, "It's been a long while that analysts have said the market is overvalued and a correction would be healthy." He added that Morocco property stocks have long been perceived as being overpriced, and are therefore one of the main sources of concern in the current international credit crunch. "People see there is a morose climate in real estate and they know these stocks are exposed to international markets that increasingly lack liquidity,” he remarked.

Property companies have been causing the inflated prices of property in Morocco, due to the foreign investors who have been seeking to benefit from the building boom currently going on there. The increasing demand has caused the rapid growth as lending rates have dropped, which has, in turn, fuelled the investments, and money has been pouring into the kingdom from tourism, overseas investors and Moroccans who live abroad.

A large proportion of the profit of real estate companies depends on the demand for major new Morocco accommodation developments on the coast, which target Europeans who want a second home or holiday house in a sunny country. The analyst, however, did not feel that there would be a credit crisis like the one going on in the U.S.A. He claimed, “Morocco is not at all exposed to the same products such as subprime.”

Construction boom in Morocco outstripping inflation

Mon, 15 Sep 2008 00:00:00 GMT

Not even the skyrocketing cost of building materials such as cement, bricks and steel are able to overtake the building boom going on in Morocco. The current investments in the tourism industry, infrastructure improvement and property in Morocco is vital to the kingdom’s future prospects. It will encourage sustainable growth in the economy, promote an improved international perception and help to bring foreign investors to the country. The current rising cost of building commodities, however, is causing concern that the swift development of Morocco property could become unsustainable when the supply of these products can no longer keep up with the demand.

The construction of new Morocco properties has become a booming industry since the country started building more tourist accommodations to cater to the increasing number of visitors, as well as luxury villas, low cost housing and improvements to infrastructure in many areas. Morocco has emerged as a property investment destination in recent years, and its government has taken the initiative to finance major developments in many sectors. These will improve the infrastructure to international levels and attract more tourists and overseas investors, in addition to helping to alleviate the lack of low-cost property in Morocco.

Plan Azur is part of a government development called Vision 2010, which is intended to grow the tourist market to a potential 10 million visitors annually over the next two years. The Plan Azur project consists of developing major luxury Morocco accommodation resorts in six coastal areas, and includes partnership agreements with large developers from the UAE and several other countries around the world. According to government figures, the resorts that are under construction now will increase the kingdom’s ability to accommodate the growing numbers of tourists by adding 111,000 beds, and will also generate 200,000 jobs.

Berggruen Hotels plans to build hotels in Morocco

Fri, 12 Sep 2008 00:00:00 GMT

Operator of Keys budget hotel chain in India, Berggruen Hotels, has entered into a new hotel development joint venture with Filacom Pvt Ltd in Morocco, and plans to build 3 and 4-star hotels on properties in Morocco. This will be Berggruen’s first overseas agreement with another company to build mid-range and high-end hotels in an emerging market such as Morocco.

Managing director of Berggruen Hotels, Sanjay Sethi, said, “I believe this partnership will add momentum to our expansion plans in this region. Morocco is a strong market and its strategic proximity to Europe gives the business long-term sustenance power.”

Atul Lall, the chief operating officer of Berggruen Hotels international division, said, “The company is also looking to develop budget hotels in Casablanca, Rabat, Fez, Agadir, Mekens and Mohammedia.”

Lall went on to say that the company plans to make an investment of $50 million in Morocco property over the next couple of years. During phase two, a further $25 million will be invested to augment the company’s presence in other emerging holiday destinations and cities around the world. According to Lall, these will be mostly green-field developments; however, the company is also looking to purchase hotels that have already been established on property in Morocco and other countries, as well as signing more management contracts.

Two companies, one of them a Morocco property company that Berggruen Hotels will have a 51% share in, and the other an operating business that they will have a 75% share in, will operate this venture to develop more accommodation in Morocco. As a newly-recognised emerging market in the tourism sector, Morocco is an attractive investment destination for hotel development companies like Berggruen Hotels, and that they will enter into this dynamic market at an early stage, will no doubt be to their benefit.

New Fairmont Hotels & Resorts resort for Morocco

Thu, 11 Sep 2008 00:00:00 GMT

Fairmont Hotels & Resorts has recently publicised a new property in Morocco, the Fairmont Marrakech, intended to open to the public during the course of 2011. Fairmont Hotels & Resorts is expanding its presence in the Middle East, and also in Africa and Europe, and is set to increase the amount of available room accommodation in Morocco by 190 rooms.

The Fairmont Marrakech will be an amalgamation of traditional and contemporary architecture, true Moroccan culture, and unique facilities, including banquet and meeting space covering 13,000 square feet, five outlets serving food and drinks, a ballroom covering 4,300 square feet. The resort property in Morocco will also include Fairmont Gold, offering guests an individual service with facilities like a cozy guest lounge and a private reception desk.

The Fairmont Marrakech resort property in Morocco will also include the Willow Stream Spa, covering 14,000 square feet of space, a health club with a hammam, 14 rooms for treatments, a steam room, special showers, a number of chill out lounges, and an ice fountain, as well as a total of 32 residential villas with the Fairmont brand name.

A newly-developed golf course will be situated right next to the new resort property in Morocco, and the Marrakech Royal Golf Club is only a short distance away, giving those who enjoy the game a choice in courses. Fairmont Marrakech is also located a short distance from some of the region’s most famous landmarks in the older part of the city, Medina.

Simon-Xavier Guerrand Hermes, the president of Ste l'Eden de Marrakech, the company in partnership with Fairmont in the development of this property in Morocco, says, “Fairmont Marrakech is positioned to be a unique luxury destination resort in the region offering a true Moroccan ambiance together with the service excellence for which the brand is recognised”.

Real Estate in Africa – a good market despite the bad reputation

Fri, 5 Sep 2008 00:00:00 GMT

A state-owned United Arab Emirates Property Company called Dubai World has set up an investment branch in Cape Town, South Africa, to focus on acquiring, developing and managing real estate throughout the African continent. So far Dubai World's investments span nine African countries including South Africa, Rwanda, Djibouti, Tanzania, Mozambique, Comoros, Morocco, Benin and Senegal. Connecting with property through such a company makes acquiring property in Morocco to Cape Town a very easy process.

Many of the countries that Dubai World is currently investing in within Africa also offer fabulous wildlife investment opportunities. Countries such as Namibia, South Africa, Zambia, Botswana and Mozambique all have property on offer that offers wildlife resources, offering property investors a unique opportunity to purchase property in Morocco and other African countries with conservation potential. Purchasing accommodation in Morocco to Namibia is suddenly encapsulated within one company offering all of these property investment opportunities to investors worldwide.

Investing in property in African countries is also very affordable for overseas prospectors earning Dollars or Euro's. Purchasing property in Morocco to Cape Town is highly appealing considering the continents recent economic growth. There are 53 countries in Africa with 47 of those within Sub-Saharan Africa. Even though Africa generally gets negative press coverage, according to the World Bank, the rate of economic growth has begun to catch up with those of other developing regions. Sub-Saharan Africa recorded a GDP expansion of 6.7% in 2007. This is due to a raise in oil exports, domestic investment, rising commodities demand, increased productivity and a rise in direct foreign investment as recorded by the IMF (International Monetary Fund).

Doing business in Africa is no longer a daunting prospect and as the previous statistics reveal, investing in property in Morocco, Kenya, Namibia and the rest of Africa has become a lucrative prospect for investors with an eye for real growth potential. Countries inside Africa like Madagascar and Lesotho already have favourable trade agreements with their thriving textile industries. And countries such as Morocco and Zanzibar have excellent spice trade. African countries are stabilising and worth considering for property investment.

Property Boom in Morocco Causes Record Consumer Credit

Wed, 27 Aug 2008 00:00:00 GMT

The demand for consumer credit and mortgage loans to service the growing market for property in Morocco has caused competing banks to offer interest rates as low as 4.5% in order to cash in on the property boom, and mortgage maturities have also increased, even to as much as thirty years.

Investors and developers are flocking to Morocco to snap up prime real estate and develop it into high-class holiday accommodation or plush homes for the rich and famous. The amount of mortgage loans outstanding increased by a whopping 47% through June, to 125.9 billion dirhams ($16.3 billion), and consumer credit rose a little less by comparison, only 28% to 22.7 billion dirhams, according to a recent report from Morocco’s Central Bank.

The amount of loans outstanding in the Moroccan financial system grew 29% overall to a staggering 479.3 billion dirhams. In accordance with the encouragement offered by banks with the lower interest rates, which has enabled more buyers to enter the market and take advantage of the low rates, the price of property in Morocco has increased out of all recognition. The price hike is taking place despite the new houses that developers are building to satisfy the growing demand, which continues to outstrip supply.

Aided by the apparently limitless need for new accommodation in Morocco, the economy grew an annual 7% in the first quarter of this year, more than double the 3% growth experienced in the same time period last year. The demand for Morocco property shows no sign of slackening any time soon, as investors rush to take advantage of the financial incentives that Moroccan banks are offering, and prices seem set to continue their upward spiral. Those considering an investment in a Morocco property would be well advised to make their purchase before prices rise to new heights.

Hidden costs when buying international properties

Tue, 26 Aug 2008 00:00:00 GMT

Investors who wish to purchase property in Morocco and various other countries are aware of the additional costs involved in “buying abroad”, but are often caught out by the “hidden” costs involved. Just some things that could catch an investor by surprise are the legal charges, bank charges, and taxes involved; for example, the VAT on Moroccan property just recently increased from 14% to 20% and if not informed of this timeously by the sales agent, then this could cause major problems for investors.

Moneycorp, a specialist in foreign exchange, recently conducted a survey with results showing that 45% of those purchasing property in Morocco and other countries abroad budget in the region of £9,000 to cover unexpected costs �" costs that often reach as high as £19,000 �" and 24% of the survey participants said that they had incurred costs that could have been avoided if they had been supplied with the relevant information at the time.

Investors wishing to purchase accommodation in Morocco and other countries abroad are strongly advised to do their homework before making the purchase. A good place to start is to ascertain which institution is best able to handle their money at the cheapest rates. For example, Stuart Rogers from Moneycorp says, “Most people haven’t sent money abroad before and aren’t aware that brokers offer far better rates than banks.” Recent figures show that Moneycorp fees are as much as £3,600 lower than banks when buying a property in the region of £78,400. Overseas banks also often charge high amounts to receive money into your bank account, which most banks in the UK don’t do.

Specifically when buying a newly built property in Morocco or elsewhere overseas, investors should be sure to check if the VAT is already included into the property price, as many don’t include this when advertising the property. Regular maintenance fees of the properties in Morocco and abroad should also be taken into account.

UNICAJA spreads its wings to Morocco

Fri, 22 Aug 2008 00:00:00 GMT

Purchasing property in Morocco just got a whole lot easier. This is due to the fact that Unicaja is spreading its wings to fly further than ever before. Unicaja, the Andalusian Banking Entity, and the main banking institution in Morocco, the Banque Centrale Populaire (BSP), have reached an agreement. These two bodies shall be working hand in hand on the financing of imports and exports, including financing the selling and buying of property in Spain, but ensuring that money transfers between the two countries become far easier, especially with regards to with in investment banking and training.

Investment banking includes the purchase of property in Morocco and Spain, and this new agreement will allow Unicaja to open a branch in Casablanca, the headquarters of Banque Centrale Populaire and also Madrid’s BCP, which enables an exchange of delegates, and making the opening of common accounts simpler. The president of Unicaja, Braulio Medel, and the General Director of BCP Mohammed Benchaaboun, reached the agreement which will offer financial assistance to individuals and companies with investor interests in Morocco, as well as vice versa. They embody the good example of a great relationship between two financial entities.

In commercial transactions, both bodies will contribute to their financial services in both Morocco and Spain, giving customers the service they have come to expect in their respective countries, and this includes anyone investing in property in Morocco. Non-customers, who are interesting in growing their business interests to either Spain or Morocco, shall find both of these financial institutions willing and able to assist.

Anyone interested in purchasing property or accommodation in Morocco or Spain at this time, will enjoy the full potential of the collaboration of BCP and the Andalusian Banking institution "Unijaca", and their partnership in the financing of imports and exports, growing the cooperative service to open common accounts with distinctive conditions for all companies and persons wishing to invest in property in Morocco or Spain respectively.

Cyprus and Morocco in the Premier League

Thu, 21 Aug 2008 00:00:00 GMT

According to Homes Overseas' latest Premier league standings, Cyprus and Morocco are now one of the most prestigious destinations in which to purchase a property overseas. Property in Morocco is now featured in their guide to the ultimate destinations on our planet. Property in Morocco gains this elusive yet prestigious title to the detriment of both Australia and Slovakia, which have both been reduced in importance from their esteemed and advantageous positions during the past month.

The king of Morocco, under the elaborate Azur Project plan, has committed to expanding tourism from 2.2 million visitors to an impressive 10 million by the year 2010. The King's prudence will dramatically improve Morocco's standard of tourism facilities and capabilities, as well as its infrastructure. The property in Morocco will remain affordable, but considerable capital growth is expected over certain parts of Morocco during the next few years.

A part of the Azur development plan is being spearheaded by the Kerzner group which built Sun City in South Africa and Atlantis Beach in the Bahamas. This site includes an entire three miles of beach front property in Morocco, along the Atlantic coast just an hour's drive from Casablanca, with easy access to and from the Casablanca International Airport. This airport currently receives flights from twenty-two European cities daily and access to the area is also supported by a rail network.

The cost of this Morocco accommodation project is estimated at $230 million and is expected to supply a hotel with 600 rooms, two 18-hole golf courses, restaurants and a casino with various water sports for general entertainment. Effectively this will provide an accommodation capacity of seven thousand six hundred beds including three thousand seven hundred hotel beds on a site that will be surrounded by eucalyptus trees and covering an area of approximately five hundred hectares.

Moroccan Sands to bump Moroccan Property into the Premier League

Wed, 20 Aug 2008 00:00:00 GMT

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.

New plans for hotels in Bangaluru and Goa and projects in Morocco by East India Hotels Ltd

Mon, 18 Aug 2008 00:00:00 GMT

East India Hotels Ltd plans to strengthen their company in Bangaluru and Goa by opening 10 hotels by 2011, but is awaiting government approval, which they hope to have by October. They intend adding a new hotel as a component of their growth plan as well as another 2,300 rooms and 10 properties, while investing Rs650 crore. Shareholders were told by EIH Ltd chairman PRS Oberoi during the company's AGM on 14 August in Kolkata; AIH plans to invest Rs500 crore to construct a 225-room lavish hotel of about eight acres in Bangalore, investing the rest into a development in Goa, where a 75-room property will be at least 50 acres, consisting of villas and a hotel, with 15 villas available for sale. The company will own all these hotels, including the properties in Morocco.

Being the owners of the Oberoi brand, luxury hotel owner EIL plans to add the Trident brand, that recently ended alliances with Hilton International, now to be combined under EIH Associated Hotels. The company would manage seven hotels, while three would be managed on a management-contract basis. They have a 436-room Trident hotel property at Bandra-Kurla in Mumbai nearing completion, which they expect start operations in January 2009. New flight kitchens will be added in Kozhikode, Mauritius, Kolkata and Kochi as well as the ones in Chennai, Mumbai and Kolkota. EIH will manage kitchens in
Kochi and Kozhikode.

The company plans to sign deals with various real estate developers having a substantial land bank. This will ensure flexibility and higher company profits. For their overseas projects with property in Morocco, including The Oberoi at Muscat, Al Yas Island Resort and Al Raha in Abu Dhabi, Oberoi Dubai, and a resort at Marrakesh, with 40 villas and 100 rooms ensuring more accommodation in Morocco and other regions, management contracts through a foreign subsidiary have been signed.

Morocco Becoming A New Property Investment Hotspot

Thu, 14 Aug 2008 00:00:00 GMT

The latest contender for the title of foremost property investment country is Morocco, which is ousting some of the world’s best. Homes Overseas magazine has ranked this North African country as a select destination, even outranking previous market leaders Slovakia and Australia.

According to Michael Kent, managing director of Morocco property specialists Moroccan Sands, he’s surprised that it has taken so long for overseas investors to realise the advantages that a Morocco property has to offer. He claims that there is a rising demand from buyers who want to invest in property in Morocco, which, with its hands-on government, healthy banking sector and easy to obtain financing, makes it perfect for a rewarding property investment.

The most prominent investors in Morocco property are the French, along with Middle Eastern countries and local moguls. These are countries that have stable housing markets, and therefore the slump in confidence that US, UK and Irish buyers have shown has not been adversely influenced the Moroccan market.

The number of visitors to Morocco has risen drastically in recent times, as much as eight percent since 2007, according to the Tourist Authority. Reasonable house prices and a number of improvements to the infrastructure, in addition to the burgeoning tourism market, are driving the growing Morocco property market. This has resulted in property there having the potential to be an extremely profitable investment.

Buyers are keen to take advantage of the benefits that the country has to offer, and its increasing popularity is pushing up Morocco property prices. This means it’s not cheap to buy there, but the increasing value of property is assuring excellent returns to investors who buy houses and commercial properties. The need for additional Morocco accommodation to cope with its increasing tourism market will encourage hospitality companies to invest, which in turn will further improve the housing investment potential.

Elite property market in Morocco

Wed, 13 Aug 2008 00:00:00 GMT

Property in Morocco has become a world-renowned and inviting opportunity for investors, who now seem to favour this region above any other international property market when considering investment opportunities. The Home Overseas magazine has recently declared Morocco, a country in north Africa, to be the cream of the crop when it comes to tourist destinations. The magazine rated Morocco over and above other major tourist destinations such as Slovakia and Australia, which is no minor achievement for Morocco.

The Home Overseas magazine says that the reason it has rated Morocco so highly on its list of favourite destinations is due to the fact that there is an extensive variety of attraction in Morocco, particularly to those who are interested in investing in property in Morocco, as the prices are more than reasonable and there is never a shortage of those seeking accommodation in Morocco, which means that the returns on investments are usually substantial.

Over and above this, further market growth is expected in the near future due to the continued growth in the number of tourists visiting Morocco on a regular basis, as well as the many improvements on the country’s infrastructure. For these reasons especially, anyone who decides to invest in property in Morocco could very well discover that it is highly profitable.

The Home Overseas magazine also stated that: “Significant capital growth is anticipated across some parts of the country over the next few years.” Jo Sinnott, a presenter for Sky Travel as well as the “Next Big Thing” series on Real Estate TV, stated that property in Morocco is a very good investment. Sinnott went on to tell Property Wire that she is of the opinion that investors could very likely expect quite rewarding returns when investing in property in the country.

More on Property in Morocco and how profitable is it really?

Mon, 21 Jul 2008 00:00:00 GMT

As some property markets have been experiencing a ‘tightening of belts’ when it comes to investment in international real estate over the past twelve months, other property markets have been experiencing just the opposite turn of events, as these markets proved profitable and of interest even when the global credit crunch has crushed others.

Morocco is one such market and even in 2008, property in Morocco is proving more and more profitable as the say’s go by...

Morocco has been named by many property experts as one of the markets that has helped them remain in a strong financial position throughout 2007, whilst other global names are lining up to invest money into property in Morocco in 2008. These facts should give individual investors maximum confidence in Morocco as a location to
be considered for investing in property.

A popular property company has recently released data showing how they “achieved a 3.2% year on year rise in profits and Jordanian based property developer Mawared is hoping that it can also use the Moroccan market to increase its profits from 2008 onwards.”

In response to this fortuitous time, “Earlier this month the developer signed a massive joint venture with the largest state fund in Morocco to develop projects in the likes of Fez and Tarfya in southern Morocco. The developments combine residential real estate and leisure based commercial properties into mainly tourism and international property buyer focused centres.” �" Yet another positive turn about for Morocco.

As was mentioned by property experts, “Mawared are not only banking on the fact that Emaar have proved that property in Morocco remains profitable but quite possibly they are banking on the impressive numbers coming out of the Moroccan tourism market as well.”

In a statement made by the Tourism Minister, Mohamed Boussaid, recently, the minister advises that “the tourism sector generated in the region of 5.27 billion Euros in 2007.” A further indication that there is indeed potential and confidence in Morocco after all.

Were you to ever wonder whether the property market in Morocco was secondary in any way to ‘the government, to the economy and to the future successes of the nation’, you would be sorely wrong, as was specified by a recent report from MAP (the Maghreb Arabe Presse in Rabat) which is in direct support of this fact, showing just how strong a contributor real estate is to the economy in Morocco.

As is expected by all investors and would-be investors of property in Morocco, Morocco’s Vision 2010 blueprint for the nation is set to further encourage and persuade investors that Morocco is the choice of the season, and an excellent investment choice at that!

The plan broken down is as follows: “A very significant and long-term strategic part of this plan is to improve tourism numbers so that they reach an annual sustainable average of 10 million by 2010.”

Recently, resorts being developed are set to ‘combine hotel accommodation with privately owned accommodation �" hence the massive and undeniable correlation between desired tourism growth and the development, promotion and desired success of the property market in Morocco.’

The Moroccan government is so committed to the development of exclusively desirable real estate within these key resorts that it has agreed to plans with Dubai based Emaar Properties to ‘develop at 6 destinations across the nation.’

This particular partnership will see to raising the profile of Morocco. The country’s commitment to the development of exclusive and truly sumptuous resorts ensures that interest in the Moroccan property market remains intense as it is already ‘returning positives for real estate as a contributing sector to the overall economy.”

The afore-mentioned report (from Maghreb Arabe Presse) was based upon information supplied by the Housing Minister of Morocco, Ahmed Toufiq Hejira.

This particular report indicates that “since property became such an important part of the nation’s agenda for economic diversification and expansion, foreign direct investments into property in Morocco have reached 0.91 billion U.S. dollars �" from 245 million dollars back in 2002. What’s more, there has been an almost 33% increase in the numbers of jobs in the construction industry in the same period.”

It is important for us to point out that through all of these fiscal fundamental changes and upgrades; the Moroccan government has definitely NOT lost sight of the plight of its own people.

Whilst there undeniably and undoubtedly many individuals and groups that are benefiting from the increased underlying affluence of the nation at present, the government in Morocco is currently also implementing the construction of low cost housing whilst providing access to funding for greater numbers of its people to ensure that the divide between the rich and the poor does not become an unbridgeable gulf that only the rich and wealthy can afford to cross.

All in all, one can safely assume that Morocco, as an emerging economy and property sector is doing all it can to promote a healthy, balanced, desirable and lucrative property market and economy as a whole.

Property in Morocco and what to bear in mind when in Morocco

Mon, 14 Jul 2008 00:00:00 GMT

As Morocco keeps growing in stature as an emerging property market, there are a few important details that one needs to keep in kind, should you be interested in purchasing property in Morocco.

In concordance with the Moroccan government’s goals �" aimed at increasing the tourism statistics of the country to ten million by 2010; resorts have been springing up rather fast, most of which are situated along the country’s coastline, making it that much more appealing to foreign investors.

One can also assume that it is in large part due to the unwavering support of the King, which has helped turn Morocco's property sector into such a lucrative and attractive proposition.

It is of many an experts opinion that the ambitious tourism targets will be met assuring Morocco as the next holiday hotspot. Should this occur, it will only mean more good tidings for Morocco in terms of both capital growth and rental returns.

Important to consider when travelling to Morocco is the fact that one would need to take out private health insurance, as the current status of health services in Morocco are somewhat sub-standard �" and with most things in life, it seems that payment dictates and guarantees treatment.

There is however, an abundance of chemists, and the rules on prescription medicine tend to be quite more relaxed than many EU countries, meaning that one could probably just order your medication over the counter. You will also obviously need to be vaccinated before you enter Morocco, so it is probably best to advise your family doctor or GP before you set out on your travels to Morocco.

When considering transportation in Morocco, it is comforting to know that the train network in Morocco has an excellent reputation, offering a guarantee of high-speed, air-conditioned services frequently operating at reasonable prices. It is imperative however to keep in mind that should you be planning to go further down south in Morocco, the train network ceases in Marrakech.

Due to the fact that estate agents are not required by law to be registered in Morocco, one should tread extremely carefully and diligently, and NOT hand over deposits or any form of monies to an estate agent, it is wiser to employ the services of a notaire �" who will in turn handle all your transfer matters, etc.

With the current unprecedented growth spurge that Morocco is experiencing, both in its infrastructure and in tourist numbers, the World Travel & Tourism Council’s prediction that ‘Morocco’s tourism will continue growing at a rate of 4% per annum, in real terms, between 2008 and 2017’, is quite easily attainable.

As an outside, it is quite obvious to see that a lot of Morocco's strong performance can be attributed to an increase in Foreign Direct Investments (FDI) into the country. According to property analysts, Morocco has been exceptionally successful at attracting Foreign Direct Investments (FDI) from Gulf Cooperation Council (GCC) countries, such as the United Arab Emirates and Qatar. A positive factor to say the least…

Sara Romera, a property analyst at a popular property portal, explains why the country is becoming so immensely popular and tantalizing: "Morocco is still a unique location for property investors and offers the opportunity to purchase property early in an emerging market at very favorable prices. What is unique about the market for property in Morocco is the sense of security for investors: with tourism already improving at a fast rate and buy-to-let investors reporting 85% occupancy rates in prime locations during the high season, Morocco offers a strong arena in which to invest in property".

It can no longer be kept a secret, Morocco's tourism and property sectors continue to go from strength to strength, and will only see more positive growth in the months to come.

All you need to know and more when buying a Home in Morocco

Fri, 11 Jul 2008 00:00:00 GMT

One can say that it is in large due to the support of the King that has seen Morocco's property market reach such attractive proposition.

Most ‘emerging’ markets have an obvious lack of basic infrastructure, which is needed to support a growing property market; however King Mohammed’s £2.2 billion contribution towards the Moroccan property market will ensure that all necessary facilities and amenities are in place.

This will mean that if the tourism targets are met, Morocco could well be the next best holiday hotspot �" a positive move for Morocco in terms of not only capital growth but rental returns as well.

From the ancient cities of Tangier and Casablanca, to the arid desert, Morocco can certainly provide something unique and pleasant for today’s international investor.

Whilst the bustling of the inner cities provide some of the liveliest markets on the planet, and while the sandy white coastline offers an abundance of leisure and relaxation, Morocco is set to rival some of the world’s most popular beach destinations.

Morocco is situated in a prime position, benefiting from having coastlines on the Atlantic and the Mediterranean, thus giving visitors the choice of pristine beach locations. It is even possible to ski on the snow-capped Atlas Mountains, proving without a doubt that Morocco is perhaps the most diverse investor location around.

According to various property portals, “The choice of property in Morocco is just as varied, with new-build apartments, townhouses and villas competing with traditional riads and dars. It is this mixture of old and new which makes property in Morocco unique �" thanks to clever planning and design, old architecture is complimented by its modern counterparts. But the real icing on the cake is the country’s property prices, as no matter what type of home you go for, it simply won’t break the bank.”

Morocco’s coastline has an array of property to choose form, as it is also proving to be increasingly popular worldwide.

Once you have decided that you want to buy a home or property in Morocco, it is important to choose a notaire. This is someone who will assist all parties to make sure that the process of selling the house runs smoothly. They are also responsible for receiving all contracts and checking there authenticity. The notaire plays a major role in the Moroccan property buying process, so it is preferable to have one arranged from the outset.

Although it is not legally required for a solicitor to be part of your purchasing process, in order to buy a Moroccan property, it is highly recommended.

Properties without the correct title deeds are quite usual practice in Morocco, therefore it is imperative that you do not purchase a property without the correct documentation, and one should ensure all documentation be in place before any transfers of monies take place.

Bear in mind that should you not be in possession of the title deeds, you do not officially own the property, regardless of how much you have already paid.

Important to remember is that there are two main types of tax status in Morocco. You get the tax resident and the non-tax resident. To be considered a tax resident, you would need to reside in Morocco for at least 183 days per annum. There is however, a double taxation agreement with the UK in existence, which means that you will not be taxed twice for any income earned.

According to the Moroccan embassy, “British citizens do not need a visa to enter Morocco for stays up to 90 days. If you wish to stay longer than three months, you will either need to leave and re-enter the country or apply for an extension at the foreign registration department of your local police station. It is also here that you apply for a residence permit should you wish to do so, but you must set the wheels in motion within two weeks of arriving, otherwise you will be required to leave the country after 90 days. Once issued, a residence permit is valid for ten years, but it is worth seriously weighing up the advantages of residency before applying. If you are planning on working in Morocco you will need your employer to apply for a work permit on your behalf. They will be required to prove that you are doing a job that couldn’t be filled by a Moroccan national, and be warned that the application process can be time consuming.”

Morocco is on the sure incline and will continue to rise in stature as a major player in the Property investment world. There is more to come, watch this space for more information to help you decide on which property is best for you.

More on Property in Morocco

Fri, 4 Jul 2008 00:00:00 GMT

If you ever wondered whether the property market in Morocco was secondary in any way to the government, to the economy and to the future successes of the nation you would be wrong, and a recent report from MAP (the Maghreb Arabe Presse in Rabat) supports this viewpoint.

By now all investors and would-be investors will have heard of Morocco’s Vision 2010 blueprint for the nation �" well, a very significant and long-term strategic part of this plan is to improve tourism numbers so that they reach an annual sustainable average of 10 million by 2010.

And part of the plan to boost these numbers has always been to develop key resorts across the nation. These resorts combine hotel accommodation with privately owned accommodation �" hence the massive and undeniable correlation between desired tourism growth and the development, promotion and desired success of the property market in Morocco.

The government is so committed to the development of exclusively desirable real estate within these key resorts that it has agreed plans with Dubai based Emaar Properties to develop at 6 destinations across the nation. So synonymous with luxury and quality is the Emaar name that this is having a two-fold benefit to the country.

On the one hand it is raising the profile of Morocco and the country’s commitment to the development of exclusive and truly sumptuous resorts, and secondly it is ensuring that interest is intense and it is already returning positives for real estate as a contributing sector to the overall economy.

And that’s not to say the government has lost sight of the plight of its own people in all of this. Whilst there are those who are undoubtedly benefiting from the increased underlying affluence of the nation and getting to the point where they can better afford to buy their property, the government in Morocco is building low cost housing and providing access to funding for greater numbers of its people to ensure that the divide between the rich and the poor does not become a gulf it cannot bridge.

According to a survey conducted by property investment magazine Jet-to-Let, Morocco is the sixth most popular country for prospective foreign property investors in 2008. This is a drop of two places from 2007’s survey, but being in the top 10 for two years running is still a laudable achievement for Morocco

This should all be music to the ears of investors looking into where they can find pockets of property potential with long-term backing for market successes and desirability.

The earlier mentioned report from Maghreb Arabe Presse was based upon information supplied by Housing Minister Ahmed Toufiq Hejira. The report shows that since property became such an important part of the nation’s agenda for economic diversification and expansion, foreign direct investments into property in Morocco have reached 0.91 billion U.S. dollars �" from 245 million dollars back in 2002. What’s more, there has been an almost 33% increase in the numbers of jobs in the construction industry in the same period.

According to the Association of Independent Tour Operators (AITO), the strength of the pound against the euro is directly impacting on the travel industry.

Derek Moore, chairman of AITO commented: “Britons are shunning the most expensive European countries in favour of cheaper alternatives, including Morocco. This means that owners of rental accommodation in tourist hotspots such as Marrakesh will find their services are in high demand.

”The current financial situation will result in the North African nation becoming more and more popular with holidaymakers. Consequently, there will be an increasing number opting for countries on the edge of the eurozone like Morocco."

All in all, Morocco is doing all it can to promote a healthy and balanced, desirable and yet achievable property market as a key contributor to the long-term success of the nation’s economy.

Morocco offers investment potential

Wed, 2 Apr 2008 00:00:00 GMT

Global economic problems are not inhibiting growth in Morocco, according to a media outlet.

Forbes stated that the north African country is currently attracting high levels of foreign direct investment as a result of its strong fiscal performance.

The continuing growth in Morocco's gross domestic product was highlighted as one of its main attributes, along with its low rate of inflation.

This was said to have resulted in greater personal wealth for local people, which has in turn led to strong demand for good-quality properties.

As a result, Forbes believes that Morocco could be a good market for foreign property investors, as it is not being negatively affected by the worldwide slowdown.

The news provider commented: "Although the worldwide real estate market is softening as credit reservoirs dry, some spots are poised for growth."

According to Magharebia, property values in Morocco have risen "dramatically" in recent years as a result of demand outstripping supply.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Morocco to get infrastructure upgrades

Thu, 27 Mar 2008 00:00:00 GMT

Owners of investment property in Morocco may be in line to benefit from major infrastructure improvements.

The government is investing billions of pounds in upgrading the country's transport network, reports Homes Overseas.

This will include a £1.3 billion plan to create a high-speed rail link between Casablanca and Tangier, which will allow passage in just two hours.

As a result, places along the route will find themselves in a prime strategic location, as people living in these areas could reach two major cities easily and quickly.

Therefore, the rail link could have a profound impact on their housing markets, as this could be seen to enhance their desirability.

According to Home Move, Morocco is already in the middle of a property boom, partly because of interest from foreign property buyers.

The website has predicted that this trend of upwards growth will continue as it becomes more popular with investors and leisure travellers.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Moroccan house prices set to keep growing

Tue, 25 Mar 2008 00:00:00 GMT

Overseas property investors have been advised about the potential for capital growth in Morocco.

According to Home Move, house prices in the country are rising at an ever-increasing rate every year.

This trend of upwards growth is set to continue as Morocco becomes more popular, making it a potentially lucrative investment market for foreign buyers.

However, Home Move stated that rate of increase could be less dramatic in future years because the country will be more firmly ensconced in the mainstream.

This means that people who choose to buy a property in Morocco early could benefit from greater levels of capital appreciation.

Furthermore, the growing popularity of the country could enable investors to sell their property on at a higher price, particularly if it is in a highly desirable location.

Home Move commented: "The market in Morocco is still considered to be one of the strongest investment options around the globe."

According to Magharebia, property values in the country have risen "dramatically" as a result of demand outstripping supply.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Morocco aims to broaden its appeal

Tue, 11 Mar 2008 00:00:00 GMT

Leading figures in the Moroccan holiday industry have travelled to Europe in an attempt to broaden its appeal.

A delegation including tourism minister Mohamed Boussaid is currently participating in the International Tourism Bourse, a major travel trade show staged in Berlin.

According to Magharebia, he is taking the opportunity to promote Morocco's various cultural and historical attractions, as well as its natural places of interest.

It is hoped that this strategy will help the country attract a wider range of holidaymakers, such as those who do not exclusively want to catch a suntan on the beach.

Mr Boussaid commented: "We just need to adapt our product because the German market is mainly focused on beach holidays."

The news provider added that the Moroccan stand at the event was "swamped" with enquiries from visitors.

According to official figures, 7.45 million holidaymakers visited Morocco in 2007.

This is 13 per cent higher than the figure recorded 12 months earlier and a sign that tourist accommodation is attracting increased levels of demand.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Moroccan market sees 'dramatic' growth

Tue, 11 Mar 2008 00:00:00 GMT

House prices in Morocco have gone up at a considerable rate over the last few years, a media outlet has stated.

Magharebia stated that property values in the north African country have risen "dramatically" as a result of demand outstripping supply.

This means that people who own a Moroccan residence could potentially cash in on the growth of the market, as a house in a prime location will be highly sought-after.

As a result, the future sale price of a property should be higher than the amount it was originally purchased for, granting investors a healthy profit.

Speaking to the news provider, economics professor Mohamed Saidi commented: "Supply is limited, which explains this massive rise in property prices."

This comes after industry analysts praised efforts to boost Morocco's tourist sector.

Amberlamb said the government initiative to attract more foreign visitors has raised awareness of the country among overseas property buyers.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Growing tourism boosts Morocco's rental sector

Wed, 5 Mar 2008 00:00:00 GMT

New tourism figures have highlighted the range of possible investment opportunities in Morocco.

Maghreb Arabe Press reports that in January 2008, visitor numbers in the north African country rose by 11 per cent on the previous year to more than 400,000.

This indicates that Morocco is establishing a solid reputation as a winter holiday destination and proving to be increasingly popular as a result.

As a result, overseas property investors who own rental accommodation in places such as Marrakesh, Agadir and Fez could be in line to benefit from high returns on their investment.

Demand for housing in popular and desirable areas could make properties highly sought-after, thereby pushing up their overall value.

In addition, high occupancy rates means that investors can collect strong rental yields, further boosting the success of their investment.

Earlier this week, independent analysts Amberlamb said that efforts to attract more foreign visitors by the Moroccan government have raised awareness of the country among overseas property buyers.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Britons take holidays throughout the year

Tue, 4 Mar 2008 00:00:00 GMT

A growing number of people in the UK are choosing to take shorter breaks throughout the year, according to a new study.

Research by Holiday Inn found that taking three or four short holidays every three months was becoming preferable to taking a single two-week break.

This was said to have a number of positive consequences, such as helping to tackle stress caused by everyday life and allowing parents to spend quality time with their children.

In addition, off-peak travel was said to be much cheaper than taking a long break during the school holidays.

Chris Hale, spokesperson for Holiday Inn, commented: "Why spend your hard earned cash on one big holiday when three or four breaks a year is less stress, less money and a lot more fun?"

This comes after online travel agency Lastminute.com predicted that countries in Africa were set to be popular with holidaymakers in 2008.

The firm tipped Morocco and the Cape Verde islands to receive a significant proportion of British visitors this year.

Property Select offers a comprehensive selection of overseas property, news, members club and reviews of the latest property developments.

Moroccan tourism boosting investment potential

Mon, 3 Mar 2008 00:00:00 GMT

Efforts to boost Morocco's tourist sector are having a positive impact on its investment potential, according to industry experts.

Independent analysts at Amberlamb said the government initiative to attract more foreign visitors has raised awareness of the country among overseas property buyers.

The organisation stated that people were becoming aware that Morocco offers a number of strong fundamentals that would support any future investment.

For example, the government's commitment to boost tourism has resulted in a series of infrastructure improvements, the creation of new leisure facilities and is driving economic growth.

Amberlamb said this had created a "healthy environment" in which to invest in real estate.

In addition, it stated that the country was attracting "serious and increasing" levels of interest from property buyers in the UK.

According to official figures, 7.45 million holidaymakers visited Morocco in 2007.

This is 13 per cent higher than the figure recorded 12 months earlier and a sign that tourist accommodation is attracting increased levels of demand.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Morocco government boosts country's investment prospects

Wed, 20 Feb 2008 00:00:00 GMT

The investment potential of Morocco is currently being enhanced by government reforms, according to experts.

Amberlamb stated that authorities in the north African country were aiming to make the economy more diverse and less reliant on sectors such as agriculture.

The organisation said adverse weather conditions had negatively affected on this industry last year, hitting the overall performance of the economy.

This was cited as one of the reasons for the government's drive to develop its tourist market, as this can make economic growth more sustainable and robust.

Amberlamb commented: "There is massive potential for Morocco to thrive and develop and economically prosper over the medium to much longer term."

The organisation added that the country offered "excellent fundamentals" to overseas property investors.

Morocco attracted 7.4 million leisure travellers from other countries last year.

However, the government has pledged to boost this figure to ten million by 2010.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Mediterranean planning limits 'could benefit investors'

Tue, 19 Feb 2008 00:00:00 GMT

New rules limiting the construction of property along the Mediterranean coastline could prove to be highly lucrative for investors, experts have suggested.

According to Foreign Property Buyer, 14 countries in the area have agreed that they will not build houses less than 100 metres from the sea.

This will ensure that the coastline in countries such as Morocco and Italy will not become overdeveloped, while its natural beauty will be retained.

However, it also means that existing properties within the exclusion zone are likely to become much more valuable.

Foreign Property Buyer commented: "The new legislation will be good news for investors who already own property inside of the 100 metre area."

The website said that demand was likely to outstrip supply and push up house prices in the area.

Earlier this month, Holiday-Rentals revealed that European properties account for more than 90 per cent of the overseas residences owned by Britons.

Property Select offers a comprehensive selection of overseas property, news, members club and reviews of the latest property developments.

Morocco sees increase in tourism

Wed, 30 Jan 2008 00:00:00 GMT

Rental investors in Morocco will have seen more demand from tourists in the last year due to an increase in visitor numbers.

Tourism minister Mohamed Boussaid told the Maghreb Arabe Press that the north African country attracted 7.45 million holidaymakers in 2007.

This is 13 per cent higher than the figure recorded 12 months earlier and a sign that tourist accommodation is attracting increased levels of demand.

As a result, overseas property owners in Morocco may be in line to benefit from capital appreciation, higher rental yields and the creation of new residences in many popular areas.

Mr Boussaid added that the growth in tourism has also had a number of positive effects on the Moroccan economy, as it is stimulating investment in the country.

Furthermore, he said it was also leading to the creation of new jobs and had generated eight per cent of its gross domestic product last year.

According to the UN World Tourism Organisation, tourism in Africa as a whole rose by seven per cent in 2007, with 44 million people taking holidays in the continent.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Moroccan currency value 'could attract Americans'

Tue, 15 Jan 2008 00:00:00 GMT

The value of the Moroccan currency could make it an attractive destination for American tourists, according to a news website.

Forbes.com highlighted the country in a list of potential holiday options for leisure travellers affected by the weak US dollar.

Current exchange rates have left the American currency worth much less than many other major monetary units, such as those in major European countries.

Although this has proven to be beneficial for holidaymakers heading to the US, it has stretched the finances of those who wish to travel in the other direction.

Forbes.com said: "The weak dollar may prompt Americans to try alternatives."

Morocco was one of the destinations it recommended, as it allowed American tourists to experience a "new culture for a reasonable cost".

The country's government is currently aiming to attract more visitors to places such as Marrakech, with a view to attracting ten million visitors a year by 2010.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Investors 'should consider Moroccan market'

Wed, 2 Jan 2008 00:00:00 GMT

Morocco's housing market has been highlighted as an affordable alternative to many European countries.

Paul Collins, overseas property editor of the BuyAssociation, stated that the north African country was much cheaper than some locations closer to home.

He commented: "Morocco is still a very good investment because properties are at a level which is affordable, especially compared to some parts of Europe."

Mr Collins added that new investment opportunities would be created in the country over the next 12 months because of its holiday market.

The country's government is currently aiming to attract more visitors to places such as Marrakech, with a view to attracting ten million visitors a year by 2010.

According to the Foreign Property Buyer website, this "bodes well" for the future of the rental market in Morocco.

The portal added that the sector was also set to be boosted by the launch of new flights from budget airlines.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Morocco 'is a good investment'

Tue, 18 Dec 2007 00:00:00 GMT

Overseas property investors have been advised to look at purchasing a residence in Morocco.

British newspaper the Telegraph highlighted the country as an affordable alternative to overpriced European destinations and a place that offered sunshine to visitors all year round.

The publication added that since many of Europe's most popular holiday resorts had been snapped up as well, looking further afield was a good option.

Morocco was praised for offering much lower property prices than places such as southern Spain, as well as an abundance of land on the coast.

The newspaper commented: "Finding unspoilt stretches of Morocco's Atlantic and Mediterranean coastlines is still easy."

This was attributed to the fact that the first developments aimed at tourists were only just starting to emerge, which means that people buying now can have first pick of all the available locations.

According to the Financial Post, property prices in some parts of Morocco have risen by about 50 per cent in the past few years.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Morocco's transport network to be upgraded

Mon, 17 Dec 2007 00:00:00 GMT

Morocco's government is to invest in a series of major infrastructure improvements in Marrakesh, according to a report.

Canadian newspaper the Financial Post stated that the city was set to benefit from the creation of a new train station and high-speed rail link.

This should improve the accessibility of different parts of the country, although upgrades to the international transport network are also on the agenda.

A new airport is to be developed, a move which suggests that a large number of extra services to Morocco will be introduced from different parts of the world.

This will significantly improve its position as a major holiday destination and also attract overseas property investors to the country.

The Financial Post praised the country's investment potential, commenting: "In some areas, property prices have risen by about 50 per cent in the past few years."

According to Morocco's department of tourism, the number of visitors has increased by 14 per cent in the last year.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Tourist market in Morocco continues to grow

Thu, 13 Dec 2007 00:00:00 GMT

Tourism in Morocco has increased by more than a tenth in the last year, new figures have revealed.

Figures from the department of tourism showed that over the first ten months of 2007, the country attracted 6.3 million holidaymakers - 14 per cent more than during the previous year.

The statistics also highlighted the strong appeal of Morocco to consumers in Europe, as many of the visitors were from countries such as France, Spain and the UK.

This is likely to be welcomed by owners of rental properties in the most popular tourist areas, such as Marrakech and Casablanca, as it means their services will be in strong demand.

In addition, the figures suggest that the government is on track to meet its target of attracting ten million visitors by 2010.

According to official data cited by Magharebia.com, 52.4 per cent of government investment in 2006 was in the tourism sector.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Britons 'visit north Africa this winter'

Wed, 12 Dec 2007 00:00:00 GMT

North Africa is set to receive a large number of British holidaymakers this winter, according to experts.

The Association of British Travel Agents stated that the region was a very popular destination among those jetting abroad in search of higher temperatures.

Speaking to the Western Mail, spokesperson Sean Tipton said the recent poor weather in the UK was one of the main factors behind the winter exodus.

He told the newspaper that this year's summer had been one of the worst on record and had prompted a rush for foreign holidays.

Mr Tipton continued: "But everything had sold out and a lot of people didn't get to go abroad so there's been a ten per cent rise in winter sun holidays."

Earlier this week, the north African country of Morocco was highlighted as a good tourist destination by Australian newspaper the Sunday Telegraph.

The publication stated that it was becoming a "travel hotspot" as it offered attractions such as good beaches, history and a unique culture.

Property Select offers a comprehensive selection of overseas property, news, members club and reviews of the latest property developments.

Morocco 'is a good tourist destination'

Tue, 11 Dec 2007 00:00:00 GMT

Morocco has been highlighted as a good place for holidaymakers by an Australian newspaper

The Sunday Telegraph stated that the north African country was rapidly becoming a "travel hotspot", especially areas such as Tangier and Marrakech.

Prospective visitors were told that the country offered a number of attractions, such as history and good beaches.

In addition, Morocco was described as a fusion of European and African influences, due to its geographical location between the two continents.

The newspaper said: "It blends the two perfectly, with stylish influences from Europe and spice, flair and a touch of mystery from Africa."

Meanwhile, UK publication the Independent has recommended the Moroccan market as a good option for overseas property buyers.

Readers were advised that the country offered benefits such as good weather during the winter months and affordable house prices.

The newspaper added that a Moroccan property would allow people to enjoy some respite from the cold British conditions.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Morocco 'attracting eco-travellers'

Fri, 30 Nov 2007 00:00:00 GMT

The burgeoning environmental travel market could make Morocco even more popular with those looking for overseas property.

According to Journey Beyond Travel, the North African country is attracting an increasing number of people who are looking to stray from the beaten path and minimise their effect on the environment while travelling.

"North Africa is removed from the Middle East, but the culture and heritage is present. It's an exotic country with an exotic appeal," remarked Thomas Hollowell of Journey Beyond Travel.

"And, with the new focus on environmental fragility, [travellers] are also thinking about tours that don't harm the Earth."

Meanwhile, Moroccan transport minister Karim Ghellab recently announced that a high-speed rail line will be built to connect Tangier with Casablanca, a development which could also encourage investors to investigate buying property in Morocco.

Morocco - Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Transport link 'could increase access to properties in Morocco'

Thu, 29 Nov 2007 00:00:00 GMT

Morocco will be investing billions to create a new high-speed rail link between Tangier and Casablanca, the government has said.

Transport minister Karim Ghellab announced the project, which is worth 20 billion dirhams (£1.26 billion), explaining that it will decrease travel time between the two cities by more than three-and-a-half hours.

The scheme, which could be of interest to investors who are looking to buy properties in Morocco, is set to be completed in 2013, upon which the rail link will be able to carry eight million passengers annually.

Property investors may also want to take note of potential plans to link the popular tourist city of Marrakech with Casablanca in a similar fashion.

"Cost and other financial aspects of this second project are still under consideration," Mr Ghellab said, according to Reuters.

Figures from Morocco's Commerce, Industry and Services Chamber reveal that the tourism sector made up 52.4 per cent of total investment in 2006.

Morocco - Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Britons to fly abroad this winter

Mon, 26 Nov 2007 00:00:00 GMT

Many people are set to fly abroad in order to experience warmer temperatures this winter, according to a British newspaper.

The Sun stated that since it was now starting to get much colder in the UK, the temptation to travel to sunnier climes was growing.

Therefore, it suggested possible destinations for people to visit during the next few weeks where they would be guaranteed to experience some warmth.

North Africa was highlighted as a particularly good option, in particular Egypt and Morocco.

The two countries were praised for offering a warm climate all year round, as well as a range of "fantastic beaches".

In addition, the publication said that visitors would also be able to enjoy a variety of leisure activities, as there was "plenty to see and do".

This comes after Co-operative Travel stated that the number of people going abroad this Christmas would increase by 11 per cent this year.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Moroccan govt to build 150,000 new homes a year

Fri, 23 Nov 2007 00:00:00 GMT

Some 1,500 new homes a year are to be constructed in Morocco under a five-year building programme, it has emerged.

The government has revealed details of a national homebuilding programme, which will use money from the private sector and involve new tax regulations for developers of property in Morocco, reports Magharebia.com.

Investors could look to capitalise on the development, which comes as 50,000 low-cost villas are also set to be constructed in Morocco, the article notes.

"What we're going to do is to work hard over the next five years to make use of this favourable investment environment in order to implement the programme," said Tawfik Hijra, housing minister for the Moroccan government.

King Mohammed VI views property development in Morocco as a priority sector, Mr Hijra told the news provider.

Morocco's most popular offshore tourist market is Britain, tourist office figures reported by TravelMole recently revealed.

Morocco aims to attract more Britons

Wed, 21 Nov 2007 00:00:00 GMT

Authorities in Morocco are to invest more heavily in promoting the country as a holiday destination overseas.

TravelMole reports the Moroccan National Tourist Office is increasing spending on its marketing activities by 20 per cent next year to £1.8 million.

The money will be use on print, poster and television advertising in countries such as the UK, as this is the fastest-growing market in the country.

Rachid Maaninou, marketing director at the tourist office, said the campaign would focus on highlighting the wide range of attractions in Morocco, such as Fez, Agadir and Marrakech.

According to figures from the body, the number of British holidaymakers in Morocco between January and September this year was 37 per cent higher than at the same time in 2006.

This comes after Expedia stated that the country was good destination for shoppers to visit as bartering was a common practice, which means that visitors would be able to snap up a number of potential bargains.

Morocco 'attracting UK tourists'

Fri, 9 Nov 2007 00:00:00 GMT

Morocco's broad range of attractions is proving to be highly appealing to British holidaymakers, according to experts.

Freedom Direct stated that the north African country was popular with people from the UK because it offered a variety of leisure facilities, as well as good beaches.

However, tourists were also said to enjoy experiencing a new culture and visiting more exotic locations.

The online travel agency stated that Morocco offered all of these features, making it an "ideal holiday destination" for British travellers.

Nick Jackson, spokesperson for Freedom Direct, commented: "People want to make the most of the time they have off for a holiday."

He added that Egypt and Turkey were also growing in popularity, as they offered a "different cultural experience" to traditional holiday destinations.

The growing interest in visiting these countries may be of interest to overseas property investors, as demand for rental accommodation will be likely to increase as a result.

This comes after TravelRepublic.co.uk said many British holidaymakers were planning to visit Morocco this Christmas in order to enjoy a warmer climate.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Marrakesh to receive Christmas tourists

Thu, 1 Nov 2007 00:00:00 GMT

Many British holidaymakers are planning to visit Marrakesh this Christmas, according to new research.

TravelRepublic.co.uk stated that an unprecedented number of people were choosing to leave the country during the festive season, mainly because they wanted to enjoy a warmer climate.

The north African country of Morocco was highlighted as a particular favourite for British travellers, with many choosing to visit the city of Marrakesh.

The website said this was a surprising result, since many others were opting to go to established European markets such as Spain.

Paul Furner, managing director of TravelRepublic.co.uk, added: "The combination of the terrible summer and the clocks changing this weekend have prompted a surge in bookings for Christmas holidays to the sun."

According to Travel and Tourism News, about 6.5 million people visited Morocco last year.

The media outlet also stated that the government was aiming to boost the annual number of tourists to ten million within the next three years.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

More holidaymakers visiting Marrakech'

Thu, 27 Sep 2007 00:00:00 GMT

Marrakech is the most popular part of Morocco with holidaymakers, according to new findings.

Research by the country's department of tourism found that the number of visitors to Morocco has risen by ten per cent in the last year, with most choosing to visit Marrakesh.

Casablanca was also found to be highly popular, as it also experienced greater visitor numbers, along with Tangier and Fez.

Figures showed that many of the visitors came from France, as about 1.7 million French people went to Morocco between January and July this year.

The country was also found to appeal to people from other European countries as well, as large numbers of Belgians, Dutch and British people chose to visit it for their holidays.

Low-cost airlines were named as one of the main reasons for the increase, as passage between Europe and Morocco has become easier and more affordable.

This could make the country highly popular with overseas investors, as companies such as Obelisk International have suggested that budget airline routes could indicate which areas are likely to be popular with overseas investors.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Morocco 'able to compete' with hotspots

Fri, 17 Aug 2007 00:00:00 GMT

Morocco's low prices and favourable climate are just two factors enabling it to compete with destinations such as Turkey and Brazil as an overseas property hotspot, it has been claimed.

Rob Shaw, marketing and overseas operations manager at Morocco Properties, says that an interesting and attractive culture and the high quality of development taking place also mean that the north African country is able to fare well in terms of the global property market.

"Marrakech is the most significant market in Morocco and in the last few years has become renowned as a favoured overseas property hotspot. As its popularity continues to rise at a meteoric pace, the general infrastructure is also being improved, paving the way for premier developments and amenities," he commented.

"It is my personal opinion that Morocco, particularly Marrakech, will become a long-term favourite with those from the UK. Its property prices, climate, quality of developments and culture mean that Morocco is competing with the likes of Brazil and Turkey as an overseas property hotspot," he added.

Mr Shaw added that it was Morocco's location that would eventually determine its success as an overseas property hotspot - with convenient flight times from the UK likely to prove attractive to UK buyers.

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.

Morocco buyers attracted to missing inheritance tax

Tue, 7 Aug 2007 14:45:23 GMT

People considering buying a property in Morocco might be further attracted by the fact that inheritance tax does not exist in the country, it has been claimed.

The country has recently gone through extensive modernisation as it continues to prosper from its favourable economic climate. It further benefits from very reasonable-priced homes which should have scope for future growth, according to Ro Shaw, marketing and operations manager at Morocco Properties.

"For those looking to invest in Moroccan property, the biggest benefit is the low taxes," he commented.

"This is a superb enticer and it is easy to see why so many are attracted to this."

Investors do not pay tax on rental yields for the first five years that they own a Moroccan property. Furthermore, there is no requirement to pay inheritance tax when passing property on to family members - and any profits made on a property over a period of ten years or more are not subject to capital gains tax.

Morocco and the UK currently enjoy a dual tax treaty.

Morocco property market 'gaining momentum'

Mon, 6 Aug 2007 00:00:00 GMT

The property market emerging in Morocco is beginning to expand "quickly" and now welcomes foreign investment, according to a foreign property specialist.

Simple Overseas Properties has suggested that properties in Morocco are "reasonably" priced, and are not unlike those found in the Costa del Sol. In addition, the firm noted that Morocco has a similar climate, and is in close proximity to, the popular Spanish report.

The managing director of Simple Overseas Property Group, Karl Morris, added that as part of a new initiative introduced by King Mohammed VI, the country is hoping for ten million tourists visiting annually by 2010.

He said: "Morocco allows investors to consider the buy-to-let strategy as well as a pure investment one. It has capital appreciation levels ranging from 15 to 30 per cent.

"The Moroccan property market is still at the emerging stage but is beginning to grow quickly. The growth in tourism is creating a demand for rental accommodation which in turn opens the door for buy-to-let investors.

"The country now welcomes foreign investment and this has started a trend of Spanish developers constructing holiday villages similar to the already well established concept of residential tourism in the Costa del Sol."

Property Select offers a comprehensive selection of overseas property in Morocco, news, members club and reviews of the latest property developments.