Morocco Scales New Heights in attracting property investors
Casting its spell on countless generations, Westerners have always had a certain fascination for Morocco. Winston Churchill was the sunset over the snowy mountains Atlas; for boho musicians such as Jimi Hendrix and Cat Stephens it was the smoke-ringed "Marrakech Express" days, today is the exotic blend of high style real estate projects that have the second circuit and property investors well and truly beaten. Changes to the law in 2001 allowing foreign investors to take proceeds from the sale of goods outside the country marked a radical change in the fortunes of the country estate, supported by a newly formed government Unit Promotion established to channel inward investment.
With £ 2 billion in foreign direct investment (FDI) in 2007, the economy is healthy just as tough. key infrastructure projects including six new purpose-built resorts (one Part of the playground near the beach which runs from New Saidia near the Algerian border, to Playa Blanca, south of Essaouira) regional airport expansion and a port of Tangiers, are all part of the government's plan to Azur Vision to increase the number of tourists. "Price real estate per square foot on new construction have doubled over the last three years in trouble spots such as Marrakesh and Tangier, said Ben Jones of Saffron Villas, "but it's expected. more investor confidence is critical for a measured approach by the government boom times, with a land registration system and a safe work plan for the sustainable development of coastal areas. "
Coastal Developments
The increasing growth of sales in the first city like Mecca in Marrakech and Tangier, opportunities investment real estate are now proliferating along the Mediterranean and Atlantic coasts, with the first development plan Riviera, Mediterranean Saidia, attracting a constant 'foot-flow of customers.
Set on a stunning sequence of six miles of the coast and a weekend favor for wealthy Moroccans, Mediterranean Saidia cover seven million square meters in total and sport three golf courses, a marina and 750-item multiple hotels five Stars. Drawing interest of the brotherhood of golf are fully furnished luxury apartments and penthouses fairway in the gated community Greens, with studios selling for £ 113,000 to £ 133,000 up for a two-bedroom penthouse villas with saffron. Dressed in a high level, units come complete with branded white, plasma screens and a fully equipped kitchen. "Residents also get a reduction of 50 per percent of the composition of the three golf courses, "says Jones.
A nice alternative to the borders of the property is Villas Sun. Enjoying an idyllic location, just minutes from the beach, the development will have a lagoon-style swimming pool swimming, tennis courts, a gymnasium and an indoor heated pool. The 76 Moorish-style villas with private pool from £ 251,000 for a two-bedroom unit up to £ 371.000 for a three-bedroom home with garden and solarium.
Ourika Valley
Without doubt the country's most ambitious tourism project Residential date is Oukaimeden Resort in the Atlas. Snow up to over 3250 meters, but only an hour's drive from downtown Marrakech, 2 billion dollars from the station "luxury" makeover based developer Emaar Emirates PJSC, will combine recreation, entertainment and real estate components phase construction in the bowl of the High Atlas Valley Scenic. Scheduled for completion in 2010, the plan promises Emaar low density and lack of skyscrapers, music to the ears of the agent and developer Nicky Kerman Marrakvillas. "The station was popular with wealthy Moroccans for years he said, "with its proximity to Marrakesh and quality off-piste options and cross-country attract a loyal audience, but its potential has never been exploited. The ski season is reliable from January to March, while plans to improve mountain biking, trekking and climbing facilities in the summer months will also keep stable the number of visitors throughout the year. "
Catching the wave of rapid growth, several upscale developments are emerging in the vicinity of the Ourika Valley, the foothills vineyard-speckled with the best of both worlds – close enough to the bustle of Marrakech, just 30 minutes transfer tracks. "The region has a potential huge, "says Louise Hillcoat." Guidelines for the planning, however, are strict: no building shall exceed three storeys and build on the evolution of the density can be no more than 60 percent. "
Corporate Director, Peter Roberts of Ripon in Yorkshire fell in love with the area when he took his wife Caro in a mountain retreat to celebrate its 50th anniversary. The couple own a beautiful four bedrooms, architect house at Bab Adrar Atlas, a former farm owned eight acres set back from the valley. We love be here, "adds Roy. "It suits customers who prefer to be away from the hordes of tourists, and yet you are only 25 minutes from Marrakech. "Three-bedroom villas at Bab Adrar from £ 555,000 to £ 945,000 up five-bedroom home. There no two properties are the same, each sporting its own individual design, with extensive gardens and covered outdoor areas. Custom Interiors offer features such as carved plaster craft and tadelakt polished (kaolin) walls. The owners and not to explore the surrounding valleys and Berber villages can enjoy the Spa steam station, gym and treatment rooms with a golf practice facilities under construction. "Without probably one of the best places to build and buy, "says Roberts." A day of skiing or recreational stroll Marrakech Medina, why choose when you can have both?
Marrakech
A colorful capital of earthy tones, and brilliant minarets, Marrakech is now a destination of choice among investors city break, pools the capital of swimming-Tropez beach clubs of Ibiza style now courting a well-heeled young crowd. European buyers to date have descended on the Medina (old city), the restoration of dozens of old riads (houses with courtyards) and dars (houses without gardens). entry-level price soared over the last four years with semi-renovated rooftop terrace sale £ 70,000 rising to over £ 500,000 for a five-bedroom riad in perfect condition with panoramic views over the city. Those looking for a project DIY, you can always find a healthy stock of opportunities for renovation in the districts and Daudiat Massira, while the chic La Palmeraie the "Beverley Hills of Marrakesh continues to push the price ceiling, traditional red brick houses with all the trimmings Moroccan setting you up the slope of 2 million pounds. The city is, however, also attract buyers looking for big bucks for exclusivity, but with all the amenities that come with community life based on service.
A first example Domaine Royal Palm is a magnificent complex of 243 hectares in the residential suburb of the city. Scheduled for open in late 2009, the station will feature a world-class spa Clarins, international 18 hole golf course, equestrian center and polo fields and residences Custom designed by Mauritian architect Jean-François Adam, incorporating local evocative colors, textures and design elements synonymous with the traditional culture of southern Morocco. Prices from £ 500.500 with Erna Low.
Tangier
With Vision 2010 funding up, shrugging off Tangier successfully reputation hackneyed. long stretches of the city and the serenity hill begins to attract overseas buyers, with 30 real estate prices 40 percent cheaper than Marrakesh. Work is also scheduled to star next year on a High-speed rail link, confirms Philip Arnott of Morocco Real Estate Properties, upgrading links between north and south of the country and cut the transfer time Casablanca on the coast within two hours: "Once running, property prices are skyrocketing," he said.
£ 600,000 high-class villas are de rigueur in the Marshan, an elegant colonial hill a few steps from the sea "You can expect a some competition there too, says Arnott. "This is a neighborhood popular with expatriates and properties rarely stay on the market for long." Modern villas and apartments on the seafront in the district of up-and-down coastal Malabata, however, fall within a price range more accessible, with apartments with two bedrooms go for more than £ 220,000. Those looking for a hassle-free alternative can as El Oasis de Marrakech, a secluded resort to Only ten minutes from Tangier International Airport. Designed to reflect the historical influence of the city of Marrakech, the three districts of the resort reflects a distinctive blend of French, Berber and Arabic design. The one bedroom apartments, surrounded by gardens with communal swimming pools are priced at £ 26,000, rising to over £ 70,000 for an apartment with three bedrooms, through Platinum Investment Properties.
Essaouira
One of the most enchanting places along the Atlantic coast of Morocco, Essaouira swaps the rose hues of the mountain towns for sparkling white walls and blue shutters. Located south west of Casablanca, a cosmopolitan city from its mixed heritage of Arab, Portuguese and French cultures, which gives it a great attraction of Western Europe the second circuit. "Essaouira is fashionable among Moroccans in addition to being a favorite spot for city dwellers tired because of its coastal location, "said Jack Oswald of the local agent Karimo. "It's not as frantic as Marrakech, but there is something to going to the beach, hammam and spa, and a large souk to tinker in. Real estate prices have increased by ten percent in the last year, with a forecast similar planned for 2008-9. "
Residence Morocco has a beautiful renovated riad in the medina of the town celebrated with a label price £ 215.500. Crowned by two terraces on the roof and spread over three floors, the residence offers 250 square meters of living space, with four good sized bedrooms and a classic design of the courtyard mosaic patterns.
These fancies something a little more isolated in the meantime, head on the outskirts of the city. Located in a private park with a panoramic view over the sea, Karimo markets a beautiful villa of four rooms, three Bath, architect with mosaic tiled pool and two detached houses for clients and staff. Built in traditional Moorish style with horseshoe arches, windows and doors, the property has an asking price of £ 480,000.
About the Author
Laura Henderson for Homes Overseas – Property for sale in Morocco, property investment advice and international property news.
International property experts since 1965.
