What is the investment potential of Moroccan property?
The building boom in Morocco has been compared to that of Spain 15 years ago. Thanks to a government aim to increase tourism to the country to ten million by 2010, resorts have fast been springing up along the country’s coastline. Backed by King Mohammed VI, many of these developments boast hotels, golf courses, restaurants and, of course, villas and apartments. It is the support of the King which has turned Morocco into such an attractive proposition. Many ‘emerging’ markets simply lack the basic infrastructure needed to support a burgeoning property market, but King Mohammed’s £2.2 billion contribution will ensure that all necessary facilities and amenities are in place. Put simply, this means that if these ambitious tourism targets are met, Morocco could well be the next holiday hotspot – a move which could only mean good things for the property market in terms of both capital growth and rental returns.
