Morocco is something of a hidden gem amongst world destinations. From the beachside resorts along the Mediterranean coast to its lively metropolitan centers and one of the most diverse blends of cultures in the world, there’s plenty to recommend about the North African oasis.
So it’s not surprising that expatriates from around the world are looking for Morocco property for sale.
But does it make sense to buy real estate there? To answer that, let’s take a brief look at some of the biggest perks of investing in Morocco property.
1. Morocco Is Poised to Make Significant Economic Growth
The Moroccan economy is in a cooling period, as is much of the world still reeling from the COVID pandemic. But there are a few factors that suggest that won’t remain the case for long.
For one thing, Morocco is one of the most stable countries in North Africa and the Middle East. In large part, this is due to the efforts of King Mohammed VI. His reforms have helped keep civil unrest to a minimum while encouraging steady economic growth.
However, what may be of greater interest are Morocco’s aggressive energy policies.
Most countries in the region are reliant on fossil fuel production for a lion’s share of their GDP. But as climate changes more pressing a threat and supplies continue to dwindle, they won’t be able to rely on fossil fuel revenues forever.
Anticipating this, Morocco is engaged in an aggressive campaign to modernize its energy sector. These efforts, along with continuing civil and economic reforms, may help ensure that Morocco remains stable and prosperous for years to come.
2. Moroccan Financial Policy Is Pro-Investment
With few exceptions, foreigners can freely purchase property in Morocco. One of the few caveats being designated agricultural lands, understandable given how precious they are in a desert climate.
This makes it straightforward to buy real estate there. And policies regarding landlords can make it a profitable venture.
Rent agreements may be freely negotiated between parties, and a landlord can mandate a guarantor to be named. This party is legally responsible for any debts a tenant may incur. Transactional costs tend to be quite reasonable as well, reducing the price of investment for prospective landlords.
3. Now Is the Time to Invest in Morocco Property for Sale
One of the biggest perks is that property in the country is currently in a buyer’s market. Per Morocco’s central bank Bank Al-Maghrib, the property market was already cooling down as of 2019.
And thanks to the global economic difficulties caused by COVID-19, economic growth across the board has slowed in proportion.
This slowdown will not last forever, however. As the decade continues, the expectation is that Morocco’s progressive policies and economic reforms will bolster its financial prospects. Inflation and budget deficits have both fallen sharply over the years, and the kingdom’s overall prospects are bright.
That makes now, a period where the property market is still in a cool period, and the optimal time to invest. To start investigating some of the properties available right now, check out https://www.marrakechsunset.com/.
The Opportunites Morocco Real Estate Presents
When it comes to investments, there’s no such thing as a sure bet. “It’s easy to see, but hard to foresee,” as Benjamin Franklin observed. So it’s important to always exercise caution in financial matters.
That said, finding Morocco property for sale presents an uncommon opportunity. Whether as an investment or a potential retirement location, few destinations have as much promise.
Of course, buying property either at home or abroad can be a complex undertaking. For everything that you need to know to get started on the right foot, be sure to keep up with our latest real estate talk.
