2010 plan fires up foreign investment for Morocco
Posted by Rebecca Sale on 12 th in DSR, Investment Property, Morocco property news on 12th of November 2010Overseas property investment specialists DSR have added 3 typically affordable, world class Moroccan sites to their prestigious portfolio and are now offering potential investors anything from £54k 1 bed apartments to £97k 3 bed apartments in that glorious region. MD David Redfern explained why Morocco appealed amidst the fierce competition of the global property market.
“We’re constantly adding to our worldwide property portfolio and use our on site team to pinpoint any opportune situations amidst the market. As always, we chose Morocco for the sheer quality and affordability of the property, as well as its prime location which is essential. Aside from the property itself, the Moroccan government have formulated a vast redevelopment schedule called their ‘Vision 2010′ plan which aims to attract 10 million tourists by 2010. That along with the beauty of the country itself already being established, it’s something of sure thing for any investors”.
Taking a closer look at the Vision 2010 mandate its clear to see that the scheme formulated in union between King Mohammed VI and the United Arab Emirates have not only envisioned a focused end result but have succeeded in presenting an ambitious yet achievable set of goals for Morocco and its surely bright future.
Their proposals include the construction of 6 resorts on the Atlantic and Mediterranean coasts along with 5 star golf courses, malls, beach clubs, spas and even equestrian centres to fully accommodate its visiting tourists. Increased accessibility via new harbours, bullet-train services and both new and upgraded motorways and airports is also planned. To complement the development of its international airways, an open skies policy that encourages more frequent and affordable incoming flights has also been introduced.
So, Morocco not only stands to become a hive of international activity, it can also expect vast employment opportunities in light of the massive workload presented, with well over 500,000 jobs expected to arise from it. Morocco’s already secure economy can only strengthen and benefit from the incredible transformation of its country and tourism figures. With 85% rental occupancy during high season already being achieved, rental yield from Moroccan property is not only going to increase but create higher demand too. Its currently possible for investors to clear all their property related overheads with just 4 months rental income in the high season, surely an alluring tell-tale sign of things to come as is the estimated capital growth that stands somewhere between an amazing 15% and 30%. International property investors watch this space.
