Morocco has long been a popular tourist destination for British travellers, with its Mediterranean climate and cultural delights offering a pleasant and affordable holiday. However, investors are also now fast realising the potential of the country, especially as the economy remains robust against the global downturn.
Moroccan specialist Compass Properties reports that Morocco’s index of leading shares (MASI) has risen by more than 13%* since the start of 2008, compared to a fall of more than 11% in the FTSE 100** over the same period.
It is an excellent time to look at investing, with the property market booming, and tourist numbers set to double to 10 million by 2010. Massive developments in the infrastructure, including new roads and motorways, increase of telecommunications, electricity, banking, insurances along with improvements in education and health care and an increasing number of flights, are fuelling the market and the comparatively low price of property is a enticing hook for international investors.
The country offers incredible value, with beachfront properties costing around one third of similar units located just a few miles across the Mediterranean Sea in southern Spain.
Steve Burns, Marketing Manager for Compass Properties, commented: “At Mirador Golf, which has just been completed, 1 bedroom apart-hotel units released off plan for £19,000 are now re-selling for £27,000. A similar unit at our newly released Cabo Dream development is priced at £22,716 and these are selling fast. Investors at Playa Vista - our marina development - have fared even better. Two-bedroom apartments released in the first phase sold for £40,000, and these are currently priced at £70,000."
He says the country offers a safe haven to any property investor worried by the credit crunch. “Morocco enjoys a very stable economy as most of the leading companies are Morocco-owned and are less-influenced by what is happening in the global markets. Huge inward investment, low cost of living and fabulous weather make Moroccan a dream destination – for tourists, property owners and investors alike.”
If you are looking at an international property investment, it is definitely worth considering Moroccan property. Even on a tight budget there is something for everyone.
Cabo Dream is an excellent example of what you can get for your money. Located on the Costa Vista, Morocco’s Mediterranean Coast, with its hundreds of miles of glorious sandy beaches, the location is idyllic. It is a great combination of beach resort living and convenience, with a range of local facilities in the nearby town of M’Diq including restaurants, shops, banks and medical facilities.
Because of it’s elevated position the development boasts panoramic views of the Mediterranean and Cabo Negro Golf Course, and in the winter, the snow-capped Rif Mountains.
Only 88 apart-hotel units will be available in the low-storey development, and no further building is permitted on the large area of national parkland directly behind it so there is a certain amount of exclusivity.
The region’s strong property market has benefited investors in the adjacent Mirador Golf development, which includes 2 bars, restaurant and a supermarket. Here, the price of 1-bed apart-hotel units has leaped from £19,000 to £27,000 in only 18 months. Owners in the region have also reported rental occupancy of over 95% in the summer months.
Steve Burns, Marketing Manager for Compass Properties, commented: “Cabo Dream is the perfect getaway for anyone who wants the benefit of an easily maintained beach property that can be enjoyed all year round.”
Compass Properties offer subsidised viewing trips for prospective purchasers. For details and more information on Playa Vista or any other Compass Properties’ development contact:
Compass Properties 0800 007 5292
www.compasspropertiesabroad.com
* The MASI Free Float Index showed a rise of 13.14% from 31/12/2007 to 02/04/2008.
** The FTSE 100 Index fell by 11.69% from 6456.9 on 31/12/2007 to 5702.1 on 31/03/2008.