Buying Property in Morocco Today

by : Pauline Felward



Known as a favourite of bohemians and artists in the 60s and 70s, Morocco has always held some kind is mystique. While the cities of Marrakech and Fez are becoming more popular, the properties and the developments for overseas investing there is very much focused on city living.

Given the geographical location of Morocco, it was only a matter of time before developers began to head to the coast for their new projects. A government-backed scheme on the Mediterranean coast is causing a stir amongst investors and buyers looking for a property in Morocco.

Arriving at the new resort of Mediterranea-Saidia, the sheer scale of the development strikes you first. The development is attracting the attention of some of the leading corporations in the world as well, with ten four- or five-star hotels ready to be constructed, an 840-berth marina, and the world's top brands in shopping, bars and restaurants lined up to fill the leisure and commercial parts of the site. It is easy to see how the developers are excited about the prospect of Mediterranea-Saidia becoming one of the top resort developments in the world.

Backing this up, and perhaps the fact that should give potential investors the most confidence in this project, is the involvement of the King Mohammed VI of Morocco. As part of the Vision 2010 project, the King has sponsored the development of numerous resorts and attractions as a way of increasing the tourist traffic, and therefore inward investment, to the country's property development. The plan will see an estimated 10 million visitors per year visit the country by 2010, and create around 600,000 jobs across the country.

Mediterranea-Saiumldia is the only government-sponsored 'Plan Azur' resort on the Mediterranean coast. Not only does this give the exclusive resort more credibility for investors looking to find the right property abroad, it also means that the development of the infrastructure surrounding will be taking place at the same time. For example, the airport at Oujda, the nearest international terminal, will have new terminal and runway facilities in time for the completion of the development, as well as a purpose-built road linking the resort and the airport, cutting journey time to around 25 minutes.

One of the principal attractions of the Mediterranea-Saiumldia resort is the way that it fits into either the investment or the holiday home markets. Le Jardin de Fleur resort is being built as part of the second phase of the development, and the apartments, townhouses and villas are furnished to a standard high enough to make them a turnkey development equivalent to the five-star hotels elsewhere on the resort. To back up this impression, there are the kind of personalised services available you would expect to find in top hotels, such as maids, 24-hour security and even on-site babysitting.

Marble floors feature throughout the properties, the kitchens are fully-fitted with top-end Siemens appliances and satellite TV comes as standard. For added peace of mind, there is a ten-year building guarantee with all of the properties.

On top of this, tax laws in Morocco are in favour of investors, meaning you could get your own slice of Morocco's Cote d'Azur and make the investment in property abroad work for you even more.