Morocco is currently a property hotspot with annual increases of up to 30%. With flight times of just 3 hours from the UK and the 'Open Skies' agreement which opened up the country to all the low cost airlines from 2007, the planned increase in tourist numbers looks set to be in line with King Mohammed VI's objective to increase visitor numbers fivefold by 2010.
The tax breaks on property investment in Morocco are extremely generous with no rental tax for 5 years, no inheritance tax if the property is passed to a family member and initial capital gains tax rates of just 20% and no capital gains tax payable after 10 years ownership. The Mediterranean Saidia resort has a rental management company on site giving the investor every opportunity of maximising rental occupancy.
With exciting future developments such as the planned tunnel to Gibraltar (construction started in 2008) and a new airport and port, the possibility of significant capital appreciation is very real with an apartment in The Greens development.