ARTICLE

Fly To Buy in Morocco

An exotic slice of Africa just a stone's throw from Europe, Morocco's history and its rich blend of Islamic, French, Arabic, African and Berber influences create a heady mix of colours, cultures, art and architecture. With its snow-capped mountains and stunning golden beaches, bustling souks and beautiful riads, the experience of buying property in this exciting country could only be eventful, as our Fly To Buy couple James Mackie and Kate Ingham discovered.

Fly To Buy in Morocco

Tips for buying

  • Use a recommended real estate agent or simsaar. They have a working knowledge of the local property market can often shield the buyer from paying over the market price by understanding the true value of properties for sale.
    A simsaar will usually charge 2.5% of the property's purchase price in fees and some charge a daily rate which can be deducted from this fee. The amount of time and money they can save an investor means that they are well worth their commission, but you will probably need to employ a translator too.
    Find out how many family members will benefit from the sale of the house – the Moroccans often divide sale profits between a large number of family members and this can make buying a house complicated because of the need to get agreement between a number of people. It is much better to buy a property from one family.
    Many Moroccan properties do not have title deeds. People do buy without deeds, but this is not to be recommended as someone may come back years later and claim the house belongs to them. A good lawyer can draw up the deeds for you, but this will take some time.
    It is common for people to sell property in Morocco with the inhabitants still living there. If this is the case, make sure that before the final paperwork is signed it makes note of the fact that the person living in the house has to leave before the completion date – otherwise you might be left with a permanent squatter and they can take years to evict!
    An investor looking at property in Morocco should budget up to an additional 8% on top of the purchase price for fees and taxes.

Why Morocco?
In addition to the rich wealth of historical and cultural delights it has to offer, it's location, location, location that is one of Morocco's biggest selling points. It is well linked to Europe with international airports at Casablanca, Tangier, Agadir and Marrakech and, being just across the Strait of Gibraltar from Spain, it is particularly popular amongst Brits who find Spain too 'Brit saturated'. Low property taxes and an increase in property prices of 15% in the last year alone haven't done any harm either. And the cost of living is between six to ten times cheaper than in the UK

The government has an objective to accommodate ten million tourists per year by 2012 and infrastructure, flight availability and facilities continue to improve. With a rise in tourism, demand for property is increasing and people looking for places to rent.

Where to buy:
Marrakech, the Pearl of the South, has remained virtually unchanged for centuries and property around the labyrinthine medina is much sought after and hard to find, although a modest version of the traditional townhouse or riad could still be yours for a reasonable price if you look hard enough. Properties ripe for renovation are also relatively plentiful.

To escape the hustle and bustle of the ancient city, look to the north coast. A huge development of hotels, residential accommodation and leisure facilities is in the pipeline for the resort of Saidia, a 19th-century Kasbah with 18km of sandy beaches, known as the 'Blue Pearl of the Mediterranean'.

Alternatively, take advantage of the developments planned for the peaceful Domain d'Abraj. Luxurious villas will be springing up there, just a few kilometres from the centre of Marrakech and with a backdrop of the Atlas Mountains.

Related sections: Fly To Buy

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