Over the last 12 months, there has been high interest in Moroccan real estate. According the World Travel and Tourism Council and Real Estate TV it would appear that Brittons are increasingly interested. One in five properties bought in Africa were actually purchased by ex-pats living in Morocco.
Morocco is a regional hot spot that accounts for the majority of African real estate sales. After investigating the reason for this attraction, real estate advisors have found several keys to Morocco's success. Increased media interest and government initiatives have placed Morocco in the spot light. The country has made public its plans to strengthen the infrastructure and economy. This has led to an increase in tourism which in turn drives the real estate market. Last year, visitors to Morocco were up 13% and has led to increased need for rental properties in the area. Investors in Moroccan real estate are finding value in both the rental returns and appreciation triggered by economic growth.
Morocco and surrounding areas has been attracting British and European investors looking to take advantage of the emerging market's viability. There are several areas within Morocco that are of high interest. One of them is Costa Vista. Because of its exceptional climate, picture perfect beaches and slow going lifestyle, Costa Vista is considered by many to be paradise. Costa Vista has even been compared to Costa del Sol in Spain which lies on the other side of the Mediterranean Sea. Many tourists are venturing beyond Spain to areas like Costa Vista meaning that Morocco could soon surpass many mature European markets.
By the year 2010, Morocco expects to have made several changes to infrastructure that will surely solidify its position as a prime tourist destination. If the government can capitalize on the tourism boom by expanding the economy and continuing to promote tourism, there is no doubt that the real estate market will experience sustainable growth for years.
