Property Boom in Morocco
With the recent release of the Brad Pitt Movie filmed in Morocco, “Babel”, Morocco is seeing an even heightened influx of tourists who want to venture to see the “Berbers in the mountains”. Morocco, a country of truly vast landscapes, has had artists, film stars, authors, and the filthy rich make it their home away from home. The allure tends to be towards one part of the country or another. Whether its Paul Bowles in Tangier or Winston Churchill painting a scene near Marrakesh, Morocco is seeing a rise in the affluent making the Kingdom their own, thus causing property in Morocco to skyrocket.
With recent governmental incentives, investors on a small and large scale are buying property in Morocco, mainly along the country’s coastline. Small cities and towns to the north, which border the Mediterranean ocean, such as Al Hocima, Tetouan, and even cities near Oujda, which border neighboring Algeria are hot on the market. Other areas of the country, along Morocco’s Atlantic coastline, which extends all the way to Mauritania, are being grabbed up. Agadir, which has always been a beach hotspot for Germans, the English, and the French (namely those from colder or cloudy climates) who want sunshine every day is one of the top focused areas for development in Morocco’s southern regions. Surrounding Agadir are not only pristine beaches, but mountains, cliff faces, and outdoor excursion possibilities.
Other cities in Morocco that are frequented by throngs of tourists each year are Fez and Marrakesh. For the moment, Fez is still a cheaper initial investment as it is still slightly overshadowed by Marrakesh. And, when foreigners buy property in one of these two hot, inland cities, they tend to buy in the medinas, where a house, or rather a riad (ryad) might be well over 1,000 years old. The popularity of restoring an old Moroccan house has already spread through Europe, which makes the market already saturated for those of us across the Atlantic who have just now heard of such an idea.
But, this hasn’t stopped Hollywood film stars from purchasing old medina homes or new villas on the outskirts of these cities that overlook palm-lined golf courses. For others who would rather be hidden away from the scene, property in the mountainous countryside of Morocco has never been a better investment. Finding and purchasing this property, however, requires the work of a professional. So, unless you’d rather scope out the country and talk to the land owners in hopes of getting a good bargain on a mountain home in one of Morocco’s richest valleys, contact an agency who would be willing to do the grunt work of finding a holiday home in Morocco that fits your needs.
Overall, Morocco will keep booming in both industry and tourism. With such a vast expanse of land with a medium population, Morocco has a lot of appeal to those on the market for a holiday home in an exotic locale. With land prices rising, the time for investment is still open, but you’d better hurry before Brad Pitt decides he wants to buy the entire city and not just his own plot!
