Buying Property In Morrocco

A

amanites

Guest
Hello,I am looking to buy a property in Tangiers, Morrocco anyone out ther who can give me advice.Thanks
 
You notice the Agents full of Turkey and Morocco as being perfect for the first-timer in foreign property. I agree with DonKing, best to avoid.
Yes, its possible Turkey will join the EU eventually, that the bombs in Morocco will stop, and we'll all be proved wrong; but I think its best to do it right for your first time, especially staying within the EU, if only to cover yourself legally. Once you get a taste for it, you can move elsewhere.
 
that the bombs in Morocco will stop
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Oh well, better stay clear of the UK, Greece, US and Spain then etc. This is a fact of life these days, we all have to live with it else there would be no international travel.

Back to original Q. I'd recommend a property in the Azur Programme as this would be better than a stand-alone property scheme.
As this is an investment forum I assume you are not purchasing as a holiday home hence my leaning towards Azur which will be attracting the larger holiday companies.
 
if it is your first forray into overseas property investment i would advise you to approach this with caution. in addition to all the usual risks involved (interest rates, global economy etc) you will face specific risks in Morocco that you would not have to contend with in a more developed and democratic country. Morocco is a constitutional monarchy with an elected parliment but it's press is far from free and a substantial percentage of its population live below the poverty line. There is an election due next year and an (admittedly moderate) Islamist party is expected to do well in the polls. If this is a holiday home then you may not be terribly concerned with the lack of freedom, but if this is an investment it is risky and you ought to expect a return that reflects this. What type of yield do you think that you will get?
 
I've worked in Egypt a number of times pre and post 9/11

I think security for a westerner in a Muslim country is now unfortunalty a serious consideration. I didn't particlarly like Egypt due to the poverty and constant tipping/begging. If you are a western trying to do business over there you have to bribe for everything including the likes of customs control even though you are totally legit! The Egyptians while generally friendly and reasonable to work with, would always try to push and get as much as they can but giving as little as they can. Workmanship and skills of workers are generally low.

I really thought Egypt was a dump and would avoid ever having to back there.

I have the feeling that Morroco would be closer to Egypt than a Western European country?

I know Matt Cooper had a discusion on Morroco on the Last WOrd last week and didn't speak very highly of the country.


Other considerations would be currency fluctations,ownership rights, Tax(no tax treaty with Morroco), outside of EU, Accessability, Target rental market. Property price trends, economic stability,location of property, background check on builder, background check on seller, finding a trustworthy local agent.


DonKing
 
from [broken link removed] Best Football Quotes.....

When Everton were on a pre-season tour of Morocco in the 1980's journalists asked their manager Gordon Lee how the team were enjoying their stay in Africa. He replied
'Christ, we're not in ****ing Africa, are we?'
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I dont think there is a tax treaty between Ireland and Morrocco. You may have to pay tax twice.
 
slave1 said:
Oh well, better stay clear of the UK, Greece, US and Spain then etc.
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as you proceed to list 3 tier-1 economies and Greece, one of the most consistant tourist industries in the world. versus Morocco and Turkey, 2 unstable nations (WHATEVER way you look at it).

Other unpredictables that you find in the Prop pages these days are Dominican Republic and Bulgaria (I know, some love it, but am not a fan. Very big Mafia problem, and its still non-EU), among others.

Like any investment, its all down to the amount of risk you wish to take.
 
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