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Welcome to Absolute Estates Morocco
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.
And 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. Breaking news
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.
Despite being only a three-hour flight from the UK, Morocco is a world apart. From the ancient cities of Tangier, Marrakech, Fez and Casablanca to the sprawling arid desert, Morocco certainly provides something different for today’s overseas property buyer. The choice of properties is just as varied, with new-build apartments, townhouses and villas competing with traditional riads and dars. It is this mixture of old and new which makes Morocco unique – thanks to clever planning and design, old architecture is complimented by its modern counterparts. But the real icing on the cake is the country’s property prices, as no matter what type of home you go for, it simply won’t break the bank. Morocco’s coastline is also proving increasingly popular, and the resort of Mediterranea Saidia is a prime example. Home to huge inward investment, this coastal town will soon be home to five golf courses, an 850-berth marina, a wide range of bars and restaurants, no less than ten four- and five-star hotels and beach clubs. This part of the northern coastline is attracting considerable government investment under the ‘Plan Azul’ to attract tourists in huge amounts to Morocco in the next few years. A new airport is being built to provide improved access to the area, and high-end shopping has been attracted to take up retail opportunities. |