Morocco Property/Real Estate Overseas Buyers
morocco property has a lot to offer overseas buyers
Morocco is one of the few emerging markets to have multiple strings to its economic bow, and this can only be a good thing for potential property investors.
Morocco has excellent industrial and agriculture sectors, which have been the main drivers of the economy in the past. However, the services sector has been the main growth centre in the past few years.
This year, it is expected that the Moroccan economy will grow 5% and 3.2% in 2010. This is because of a bumper harvest on near perfect rainfall and continued growth in the construction sector. The government is expecting the export sector to pick up any slack left by the agriculture sector, and for strong growth to continue next year.
'In 2010, we will do better than 2009' in terms of exports, Ahmed Reda Chami told Reuters in an interview. 'But Europe and the United States must not deal us a W-shaped crisis.'
'We are exiting the crisis, still with jobs being destroyed, but the economy is taking off again. We will create jobs next year.'
Tourism is also a massive growth sector in Morocco, as well as overseas property sales. Overseas property is particularly popular because of the lack of quality commercial accommodation to cope with the rapidly rising tourism. Therefore, buying Morocco property at its current low prices, is giving way to exceptional and rising rental yields.
Because the economy is still growing at such a rapid pace, demand for property in the country remains to be high, and many people who bought in 2005, 2006, 2007 are now achieving good sales despite the difficult times, others are achieving solid rental incomes.
Source:Property-Abroad
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