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Wednesday, 16 July 2008 00:00 |
Demand for property in Morocco is increasing as the country is becoming a 'new favourite' for investors.
That is according to Peter Pallot, writing for the Telegraph, who said that foreign exchange dealers are seeing a surge in demand for the dirham.
Pallot suggested that the country's "excellent climate and double taxation agreement with the UK" are also drawing visitors and investors alike.
Mark O'Sullivan, director of dealing at Currencies Direct, said: "Morocco benefits from coasts on the Atlantic and the Mediterranean, giving the growing number of retirees that we have witnessed purchasing property there a choice of dramatic beach locations."
O'Sullivan has warned however that those intending to invest in property in Morocco and retire here should invest in private health insurance.
David Axtell, the Middle East manager of insurer Interglobal, said a particular growth in new housing for expatriates had been seen in Marrakech.
Marrakech is known as the "Red City" or "Al Hamra". It is located in southwestern Morocco, near the foothills of the Atlas Mountains and has the largest traditional market (souk) in Morocco. |
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