Insurance News Archive

Morocco market compared to Spain's Costa del Sol

Property in Morocco has the same quality of development as the Costa del Sol in Spain, according to an expert in the market.

Highlighting the benefits of the Europe-adjacent country, Karl Morris, managing director of Simple Overseas Property compared its new developments to properties in Europe's most popular tourist destination.

"[Morocco] now welcomes foreign investment and this has started a trend of Spanish developers constructing holiday villages similar to the already well established concept of residential tourism in the Costa del Sol," he said.

The range of property on offer could also be said to rival southern Spain as Mr Morris said there are opportunities to invest in both apartments and townhouses, many of which have access to swimming pools or tennis courts, as well as restaurants and bars.

With a similar climate to Spain's 'Sunshine Coast', Morocco is also focusing on building golf developments and improving its beach resorts.

But despite Mr Morris reporting capital appreciation rates can range "from 15 to 30 per cent", Morocco cannot compete with the numbers of tourists which flock to the Costa del Sol and offer investors rental income every holiday season which can reasonably provide six to ten per cent of the property price in the first year, according to property website Andalucia.com.

25 Jul 2007