Morocco set to face housing deficit, Minister

The annual demand for residential houses in Morocco property, estimated at about 30000 or 40000, which calls for the north African countries to focus efforts to correct this situation, Minister of Housing, Taoufik Hejira said.
Over 60% of the Moroccan population under the age of 30 years, which generates an annual demand of up to 40 000 new housing units, adding the activities of the existing shortfall in the area, Hejira told French daily, L'Echos.
He voiced that Morocco property is set to build 130000 houses to expand access to housing for low-income families. Entities housing will be built by 2012, and their price will not overtop 13000 euros," he said.
Flats, which will be built using earthquake resistant technology, will be from 50 to 60 square meters and will be devoted to households with monthly income less than 270 euros.
These projects, worth 1.5 billion the euro will contribute to the fight speculation, who recently rapid growth of prices and lower prices per square meter to 180 euros.
In 2005, the Government had set up a program of guaranteed loans, known as FOGARIM, in order to facilitate access to generic housing for families with low or irregular incomes, reminded the minister, adding that 33000 families so far benefited from this program.
About the program, aimed at eradicating slums, Hjira noted that 400000 slum dwellers were re-deployed so far, and ten cities have been declared "cities without slums".
The program was initiated in 2004 and aims at the eradication of some 1000 slums throughout the country.
In the same vein, the government is building new towns, in collaboration with French enterprises, the official said, referring to examples of Tamesna in the outskirts of Rabat, and Tamansourt, near Marrakesh. The six new towns in total should be created.

Pierre and Vacance 270 million euro to invest in Morocco

France and Pierre Vacance, operating in holiday resorts, will invest in 270 million euro tourism project in Morocco property as 10 000 beds.

The investment program includes the construction of tourist resorts in the cities of Marrakesh and Agadir, and tourist homes and apartments in Tangier, Rabat and Casablanca.

A total of 2 264 units/apartments will be built by 2013, in accordance with the memorandum of understanding signed between the biggest operator in Europe on holiday resorts and the Moroccan government during the 9 ministers, the joint meeting held in Rabat.

The project will create 700 direct jobs and stable, Ministry of Tourism said.

During the meeting, co-chaired by Moroccan property prime-minister, Abbas El Fassi, and its French peer, Francois Fillon, the two countries signed 16 tie-ups.

UK nationals taking 3-day holidays

Many families in Britain, choosing to take holidays only three or four days, the new study has found.

According to research at the Hotel Holiday Inn, only 48 per cent of people intend to follow the traditional two-week break with their children this year.

The company cited several reasons for this trend, such as parents can not get enough time from work and complexity of obtaining the same dates as their partner.

As a result, more and more people choosing to use their holiday allowance during the year and go to about three or four short breaks throughout the year. This is good news for those are thinking of buying buy-to-let Morocco property abroad.

Holiday Inn said that, as well as having a positive impact on the family unit, is also being more cost-effective than travel abroad during the peak tourist season.

Chris Hale, the official representative of the company, said: "Why spend your hard-earned cash for one big celebration, when three or four weekends a year less stress, less money and much more fun?"

Earlier this week, Lastminute web site forecasted that Morocco propertywill be very popular for recreation this year, along with the islands of Cape Verde.

Competition mounts in Euro property market

The European market is facing increased competition from new values of some "hot spots" in other parts of the world.

International Herald Tribune reports that countries in Africa and South America attracted a higher level of interest from foreign investors' Morocco property rights.

It states their ability to demand the combination of sun, sea and sand, as well as easy access to major cities helps them to rival their European counterparts.

Morocco property, in particular, proved popular and quickly catch up on the likes of Spain and Portugal as the top choice for foreign investment property.

Relatively low prices for most attractive to buyers and increase the number of tourists visiting the country is fuelling demand for rental housing, which means opportunities for buying, that investors in abundance.

Tourism is the country is expected to give further impetus through the Moroccan Government Vision 2010 tourism strategy which aims to raise visitor to five times compared with 2002 levels.

Morocco appeals to different types of buyers

Morocco is attractive to a wide spectrum of foreign property buyers in Britain, according to experts.

Amberlamb Independent analysts said that North Africa is now attracting increased amount of interest from British-based investors.

The organization said Morocco property is very popular among people who want homes for their own personal use, such as cottage owners and expatriates.

However, he noted that the appointment was also provided an attractive Morocco property place for investment, and buyers.

Amberlamb said, the country now accounts for one of five properties in Africa, which are owned by Britons.

Commenting on his call, the group said: "This proves that the country has a serious and growing interest in the Britain-based buyers."

This came after foreign buyers of real estate on the site said that the Government plans to increase the number of tourists in Morocco property in the next two years "is a good" for its rental market.

Mission Possible: Making Money in Morocco

Paul Staines, director of Saffron Villas speaks with Adam Samuel of Nubricks.com to give us his insider information to buy property in Morocco, the full interview is available for download only on nubricks.com.

Morocco. A land of the living culture, classically beautiful coastlines and the contrast of traditional villages and bustling cities. It is just 9 miles away from Spain by sea, you can use in a new way of life and certainly a new world full of possibilities for real estate investors.

Paul Staines has no less than three off-plan apartments in the town of Saidia, the Playa Vista development in Tangiers and at Sunset Beach, south of Casablanca. You can also expect a director to buy one of his company's properties, but to buy three… he clearly knows that we will not.

In 2001 Morocco's new king Mohammed VI announced the "Azure plan and Vision 2010" which intends to tourist flows into the country of 2 million to 10 million within 10 years through the development of major tourism property development projects. Since 2001, the market has grown by around 50-75% with the first new properties will be launched 2 years and with new developers moving into the market, including local companies and developers from Dubai and Europe.

The average price of property currently in Morocco is £ 100000 to £ 125000, but the market offers for the budget £ 50000 as well as luxury multi-million pound properties. There are many types of property in the Azure Plan, including apartments and villas. If you want an original property outside the Azure's plan then riad in the historic Medina, but they can be problematic with title deeds!

Paul called in the podcast "There is a risk when buying outside the plan Azure Resort, use your due diligence and research the developers well. There are a number of large and established developers who are outside the plan, it is the smaller and less well-known developers and agents that you really have to do your research. "

The purchase of a new build property in Morocco, however, is straight forward and similar to European countries, a reservation contract must be signed and the title deeds, signed at the local notary, will be handed over on completion and full payment. One issue to be aware of is that the country is a relatively new market and as such do not have bank guarantees, so that choosing the right developer with a good track record is crucial. Mortgages are easy to reach is subject to state loans of up to 70% are very common and interest rates are between 5.5% to 6.5%.

Buying in Morocco does not have to be either the taxation; taxes for the completion of approximately 5% for the stamp tax, land registration and notary fees. Capital gains tax is 20% on the profits more than £ 60000 €, and after 5 years, goes down to 10% and after 10 years there has been no capital gains tax as it evaluates to 0%. If you plan to rent your property once it is finished, then there is no rental tax for 5 years, and there is no inheritance tax, if your property to a family member.

Morocco, how successful tourist sites before her, more and more accessible, which is good for visitors and investors alike. Ferries are of Gibraltar and Algeciras in southern Spain, but for the majority, and in the sky for the 3 hour direct flight from the United Kingdom is most popular. The open-skies agreement from Morocco from the beginning of this year is also the country up to the low-cost airlines. News, which is also a good omen in the case for Moroccan property investments is the confirmation that the Swiss engineering firm Lombardi has the contract to design the railway tunnel between Europe and Africa running under the Strait of Gibraltar. Like the Channel Tunnel between England and France, the tunnel's degree enables a continuous rail link between the north of Scotland and in Africa.

If you are still not convinced about buying in Morocco, then a visit to sample the local cuisine will help change your mind, it was attracting top-notch celebrity guests such as Kate Moss and P Diddy as far back as 2003. Moroccan cuisine is reputation as one of the top kitchens from all over the world, including the famous couscous, Mechoui, Pastilla, steaming Tagines, pastries and the national drink, mint tea. The climate varies from region to region, the coast has a very mild climate in the humid summer and in winter, average temperature of 16 ° C to 26 ° C; inland ports is much warmer in the summer of up to 33 ° C.

Despite a common belief that it is a claim to speak either Arabic, the native language, or French is spoken in most regions; English is widespread, especially in big cities and tourist areas.

So what about the future of Morocco? Saffron Villas offers the following tips and tricks… Marrakech is gaining in popularity and will see an increase in property development to meet the demand. This city is a wonderful blend of tradition and modernity, but retains its charm, Ski-1 hour and 30 minutes and currently has 3 golf courses with 7 recently received planning permission.

Taghazout place will be available for purchase options during the year 2007, is the sentence to be extremely popular. It is located in the region of Agadir, where it is clean, clear session coast of the Atlantic Ocean, ideal for water sports enthusiasts.

The growth rate and strength of the housing market in Morocco makes it financially attractive. The tourist market has grown from 2 million to 5 million visitors today and it is expected that up to 10 million by the end of the decade and, of course, these visitors will have places to stay. Overall, Morocco should be on your wish list list of places to visit, if not a potential for real estate investments.

Moroccan property satisfaction – guaranteed

Merchants have often inspired confidence in their products by offering money-back guarantee. "Return the product to us in their original state within 30 days and we will be fully reimbursed ..." But what about a property? And what is not 30 days later, but nine years later? The concept seems doubtful, but incredibly developer of the gardens of Fedala in Marrakesh are prepared to do just that, and throw in a 7% Net rental guarantee for the same period. What's more, world-renowned financial protection company, AXA Group, supported both.

Gardens of Fedala is a Moroccan-style sanctuary of a resort interrupted by orange trees, olive trees and rose gardens only 15 minutes from Marrakech's international airport. The two bedroom riads and three bedroom duplex are fully furnished down to the last teaspoon and operated by a club house, health centre, restaurant, bar, swimming pool and a small boutique hotel with sauna and hammam. Private plunge pools are an optional extra, and the completion of the entire system is expected in mid-2009. Already impressed? Read how undoubtedly the transaction makers, the financial guarantees.

Adam Cornwell, CEO of GEM Estates explains: "The French developers behind the gardens of Fedala place their faith in their product and in Morocco as a target in the same way by offering a number of assurances for buyers. Prices in the city of Marrakesh agreements 18% below market value so you immediately locked-in capital and two other reasons, we simply can not lose your money. Firstly, a 7% per year net rental guarantee for nine years by AXA. This represents an income of about 13000 euros per year, after costs, and if you have a 70% mortgage option, the rental guarantee should mean that your property will pay for itself. "

Adam continued, "Secondly, a 100% buy-back guarantee, also supported by AXA is in place for a long nine years. Healthy income and capital growth can be expected, almost a given, taking into account the effects already being felt by Vision 2010, but if you want to sell at any point, you're guaranteed to the price you have paid in full. In the event of a surge in the market, how unlikely it is, AXA is the shortfall so that your full purchase price reduction is guaranteed. Both benefits, guaranteed rent and buy-back, are fully transferable to the new owner should you happen to sell at any time within the nine years. Like other freebies developer of a free return flight for two per year for the first three years, free financial management for the same period and the personal use free of charge for two weeks per year, without the rental guarantee. This is an investment no-brainer. "

A few hours south in the chill-cum-resort town Mirleft Fishing is a sister city gardens of Fedala characterized by fragrant rose beds and green meadows. In the developer inimitable style of this fully equipped villas directly on the beach with ocean views protected and the same number of amenities from a restaurant to small boutique hotel also pay for itself in a princely fashion. Prices 27% below the market value of the two and three bedroom villas with private pools optional come with the same 7% per year net rental guarantee for nine years, supported by AXA, which should comfortably cover mortgage repayments - even at 70% LTV . The project also Mirleft, you guessed it, the gift of a free flight for two per year and budget for the first three years after completion in June 2009 and two weeks personal use without adverse impact on the rental guarantee. The benefits are transferable to the new owner for the sale within nine years.

Rates Gardens Fedala in Marrakesh from 189000 euros for two bedrooms Riads and 249000 euros for three-bedroom duplex. 70% LTV status mortgages are available from the developer with interest currently at 6.6%.

Rates Gardens Fedala in Mirleft launch of 149000 euros for a villa with two bedrooms and 169000 euro for a period of three bedrooms. 70% LTV status mortgages are available from the developer with interest currently at 6.6%.