Morocco will become a top Mediterranean destination within three years, one expert has said.
Although it is a "relative unknown" on the international investment stage, seasoned buyers are aware that real estate in Morocco can be bought for around a third of the cost of similar properties in Portugal and Spain, according to Matthew Peters, writing in the Daily Reckoning.
"At some point Moroccan prices may converge with those of southern Spain as the new developments arrive," he said.
He said that the launch of Vision 2010 - a plan to increase the number of overseas holidaymakers to ten million every year by the end of the decade - will help to transform the country's tourism sector.
"The plan, if successful, will diversify away Morocco's reliance on France for tourists and replace it with a reliance on western Europe," he remarked.
According to Rightmove, Morocco is set to be the top overseas summer hotspot this year after it was revealed that flight bookings to Marrakech rose by an annual 295 per cent last summer.
Tags: Moroccan Morocco Fes, Maghreb news
1 comment:
I think a growing number of people are interested in buying property in Morocco, Real estate in Morocco, with its ancient towns, coastal resorts and snowy peaks. This North African kingdom boasts 1,400 miles of coastline, year-round sunshine and an open invitation to foreign investment and has seen a sharp increase in the numbers of house-buyers from abroad over the last four years.
In the 21st century, Morocco is the country on the African continent that is experiencing one of the fastest growing and fastest paced real estate markets in the region. There are a number of reasons why Morocco property is so profitable investment, chief amongst them is the fact that Morocco has enjoyed relative stability for an extended period of time. In addition, the climate in many parts of the country is very appealing to people from many different countries around the world.
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