Invest in Morocco?

Everybody knows emerging markets can tend to be backward often with a poor local population and inadequete infrastructure. The point is is there a likelihood that the market will develop in the medium to log run and allow early investors to profit. I think in Morocco there are very positive signs and those willing to take the risk at this stage can expect rewards.

Everybody knows emerging markets can tend to be backward often with a poor local population and inadequete infrastructure. The point is is there a likelihood that the market will develop in the medium to log run and allow early investors to profit. I think in Morocco there are very positive signs and those willing to take the risk at this stage can expect rewards.

Perplexed, how does Casablanca compare with Tangier? thanks.
 
Casablanca is fairly upmarket cosmopolitan. Coast here is more windy being on the Atlantic. Access to most of the beaches is through private clubs/hotels. In other words very little access to the beach unless you're prepared to pay.

Tangiers to me looked more traditional on it's outskirts. Lots of hotels etc down along the coast. Ferry is very unpredictable. It seems to leave when it takes the notion. I travelled over from Algericas to Tangiers during Ramadan & they held off landing until the Muslims had feasted after sundown. We were told they would probably do this but I didn't believe it till I saw it. Non Muslims were very definitely second class citizens on the ferry.

We stayed in a beautiful hotel but were told not to leave the grounds at night, which made me wonder. There was a beautiful beach nearby, yet security in the hotel grounds was really high. Made you feel like a bit of a prisoner !
 
There is one major reason not to invest in Morroco.
When on holiday there last summer, I noticed a significant amount of troops mobilising and heading South to the border with Western Sahara. There is a long and bitter dispute over territory down there. When I questioned the tour guide (felt like Al Pacino in Cuba in Godfather 2 :) ) he was quite blase about it. Mobilising troops to the Southern border was not such a big deal for him.
Secondly, Morocco has a large population and a poor agricultural base. Therefore it is always going to struggle to be a second world nation.
To the poster who mentioned that there was a lot of begging and that it was dangerous for Western women. Our tour went well off the tourist trail on several days. We never once encountered an attempted mugging, assault, insult. The only beggers we came across usually had some physical ailment. Begging or starving to death may be there only option. Can't imagine social welfare is all that hot. In general Morrocans are far nicer than Irish people, the street traders in Marrakech were friendly. What Westerners find off putting is the hard sell all day that you encounter by street traders. It is just engrained into the culture over there. But I don't think there is anything malicious in that.
 
DonKing said:
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If you consider Budapest then I would suggest that you only consider the better areas ie District V, VI and some parts of district VII. When I purchase again in Budapest it will be second hand apartments and probably through a local agent. Property sold by Irish agents is probably 20% dearer than what you could get locally.

I'd recommend if you are looking for good professional advice then I would have a look at some excellant previous posts made by AUTO320. Almo has also provided some very good information. There are others but I can't recall their names readily. If you are going to consider Budapest then I would review the previous posts made by BUDAPEST. He's an Irish guy who lives over there and is very familiar with the different areas etc.

I would also suggest that buyers look at the 13th district, but not along the Danube where much of the stuff is targeted at Spanish and Irish buyers and is overrated. The area behind the Zoo is good, and there are several good projects at various stages of development in that area that are worth a look. It is also good for renting in my experience.

While the comment about Irish agents can be valid, it is not altogether true. A few Irish agents know this market very well, and not all of them are fleecing the Irish buyers. OK, one or two did screw it to the Irish buyers, but a few others are honourable. When I am buying there I always use an Irish agent whom I have found to be very savvy and well connected in Budapest, and I never pay local prices -- always a bit less if anything, and he has kept me out of trouble! The best way for a "greenhorn" to lose his or her shirt is to go to Budapest and trust a local agency; some are good, some are bad, and some are terrible!
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Click to expand...
 
In the very beggining of this thread, there were comments suggesting that investing in "Guaranteed Rental Schemes" is a mistake. Was this specific to Morrocco? Could you explain why are they so bad?

By the way, I prefer Tunisia over Morrocco, it is also an African muslim country, smaller but more developped and not so poor (specially on the eastern cost). I could find only very few projects being advertised about Tunisia. They are getting a lot of investment from Arabs and Americans as well. Speaking of early birds get rewarded, that can be a good and well timed bet. In both countries, if you buy from locals at locals' prices, then reselling should not be a problem (not worse than anywhere else).

For a European, living and working there is probably better than Egypt (ie. more westernised society & style if you want), but probably similar to Turkey, so if you find Turkey unbearable then you would not like to live there. Investing can be a different and a much more rational/objectif story though.
 
Has anyone had any experience of Compass Properties in Morocco? They are supposed to be one of the biggest developers there.

Will the property market in Morroco dry up (no pun intended!) due to the credit crunch which will affect European investors?
 
I would say yes, the market will be affected in Marrakech, but not so much in Casablanca where the market seems still dominated by local offer and demand. Casablanca is a massive city, but not so touristic.
 
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