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Main Achievements of Morocco
Author: Jenny Holmes  | Posted: 21-12-2007 | Comments: 0 | Views: 7 | Rating: (55)  (?) 
According to an economic analysis of developments in Morocco made in the journal 'IMF Survey' - published by the International Monetary Fund (IMF) - the Kingdom is currently experiencing its strongest growth in years. Real GDP is projected to grow by an impressing 7.3 percent this year, by far outweighing Morocco's low population growth rate set at around 1.6 percent. Last year, the economy only grew by 1.6 percent, according to Moroccan authorities and IMF staff estimates.
Morocco's economy is fast growing, due to several factors. Foreign investments especially in Morocco property, as labor-intensive products here can be made far cheaper in any other place close to Western Europe. Morocco has a skilled labor force, and more and more people with high education, since Moroccan schools and universities are of good quality. Moroccans are highly skilled in languages, and most young Moroccans know 2 or 3 languages.
There are some factors, which make investment in profitable for foreign investors:
· Property in Morocco prices around 50% cheaper than European comparables.
· Full freehold ownership rights for foreigners.
· 60% LTV Mortgages available to foreigners at around 6%.
· No tax payable on rental income for the first five years.
· Only 20% capital gains tax, falling to 10% after 5 years and nothing after 10 years.
· Fast growing Morocco property market.
· 0% inheritance tax.
· Wonderful climate and beautiful nature of the country
Last factor influences a lot on Morocco property investment increasing. There are many cities in Morocco, which is worth visiting. For example, a holiday in Tangiers will give you an eclectic taste of Africa, Europe and Morocco in one mesmerizing, hugely memorable hit. Tangiers is ancient, exotic, and always entertaining thanks to the sheer diversity of people and pace of life here. But this city has also modern part, where you can see modern buildings, different types of Tangier property, which is in high demand. Famous writers and artists from Oscar Wilde to Matisse to Joe Orton have taken holidays in Tangiers.
The other beautiful city is Tetouan, which is very beautiful, with dramatic mountains in the south and west, right across the narrow valley from which Tetouan rises. But as soon as you have entered the medina this disappears from your view. The medina is certainly not colorful, its grayish white walls are only challenged by the sporadic green tile roofs. Tetouan is one of the whitest cities you will get across in Morocco, and even the new city with big choice of Tetouan property follows this codex.
Also don’t forget about Saidia. The beach is first class, and as clean as it gets, the city is lively and you can find various Saidia property there, and people easygoing. Saidia is a coastal resort and is set to become one of Europe 's greatest tourist locations. The white sandy beaches are superb and the sea is crystal blue, with over 17 beach clubs in absolutely beautiful surroundings.
Morocco offers the same convenience of southern Spain at significantly lower prices.
You will get safe investment - notary supervised Morocco property registration similar to France & Spain; freehold readily available.
Morocco government makes Open Skies policy, aim of which is ushering in low-cost European carriers. Easyjet & Thomsonfly & Ryan Air first to announce new Moroccan routes in early 2006. Increased tourism generated by the Azur Plan projects will create huge requirement for rental property in Morocco.
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