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2 July 2007

Morocco – investors are flowing into Marrakesh

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by Kay Mitchell

Morocco – investors are flowing into Marrakesh

Morocco is a kingdom and an Islamic country. The country aims to attract 10 million tourists a year by 2010. In 2005, 5 million visited the country.

Morocco is on the northwestern tip of Africa, its official languages are Berber and Arabic although Spanish is spoken in the north and French is spoken in the south. Many Moroccans also speak English.

You can fly to Marrakesh or Casablanca for between £200 and £300 and flights are getting cheaper. Marrakesh airport is being expanded and a new motorway is being built – usually a sign that property is likely to increase.

Casablanca, Essaouira, Tangiers, Fez and Marrakesh are all popular with visitors and investors are flowing into Marrakesh. More recently Essaouira, on the Atlantic coast, is in demand.

Property is for sale everywhere in Marrakesh, a 6 room villa in Marrakesh is available for £73,000. Should you consider investing in Morocco, a euro account must be opened with a Moroccan bank. Euros are then converted into Moroccan dirham.

The weather on the northern coast is pleasant all year round but it can be extremely hot during the summer in the south.

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