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News: Morocco offering unrivalled choice

Wed, 21 Nov 07

Morocco is an exciting and very different location for second homes, at prices substantially lower than those in many other popular destinations...

Buyers who opt for a second home in Morocco can benefit from exemption from rental income tax for five years, no capital gains tax if the property is sold after 10 years, and no inheritance tax.

Morocco offers an unrivalled choice of places to live and activities to enjoy, ranging from the empty beaches of the Mediterranean coast to the ski resorts in the Atlas Mountains, as well as a variety of fascinating and historic cities.

Morocco has risen to third place on the league table of popular destinations. The ‘sand and camels’ image of Morocco is a misconception; very green countryside and friendly people are among its attractions.

Big returns on investments

Pioneers who buy property in Morocco now can expect to secure big returns on their investments, in terms of both capital growth and rental income.

Six major new resort developments form part of the Plan d’Azur backed by the country’s King Mohammed VI and the Moroccan Government in a bid to increase the annual number of tourists visiting the country from two million to ten million by 2010.

Like second home buyers, investors benefit from exemption from rental income tax for five years, no capital gains tax if the property is sold after 10 years, and no inheritance tax.

Open Skies

Morocco is close to Europe and easy to reach. It takes less than three hours to fly from Britain to Tangier, for example. Ryanair is expected to start flying to Fez and Oujda later this year and announcements about more flights from other airlines are anticipated following the open-skies agreement signed in Marrakech last year.

This means that European and Moroccan airlines will be able to fly between any airports in Europe and Morocco. It is expected to give a massive boost to tourism and the property market.

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