While Morocco is perhaps still considered as being an up and coming property market rather than a full fledged market of prosperity, it appears as if events on a daily basis continue to accelerate Morocco towards an eventual position of being one of the world’s most impressive and prosperous property hotspots.
According to a recent data mining exercise carried out by the international currency trader HiFX, more and more people have started to enquire with them about the possibilities within the Moroccan property market. In fact, they cite that over the year of 2007 the number of enquires they received about the markets in Morocco rose by a full percentage point, a very impressive statistic considering the hundreds of thousands of enquiries the firm receives every single year.
Mark Bodega, a director of HiFX, said Morocco is starting to eclipse nearby geographical competitors vis-a-vis property "…as the investor population continues to turn its attention to emerging markets in 2008."
While a lot of this has to do with the fact that the property market in Morocco is expanding by leaps and bounds and in doing so is attracting more international attention, a lot of it has to do also with the investment in the country that has been pursued by the Moroccan government.
A good example of this is the fact that the government has just approved a multi billion dollar deal to expand tourism in the country and of course when tourism increases in a country, the property market can do nothing but benefit from it. The plan, which injects GBP 7.3 billion into the tourism industry of Morocco, is also directly related to property investment as it is partly going to be centred on creating new pieces of property such as resorts and residential property that can be used in a buy-to-let fashion.
All of this will mean very good things for the property market in Morocco.
