buying property in morocco a riad or a new pad
News Posted On: 20 September 2010
Morocco became known as one of the hottest emerging markets in the world during the last boom, with the government spending heavily on the tourist infrastructure aiming to receive 10 million visitors per year by 2010.
Since the crash Morocco's decision to keep holiday home buyers as its core market served it well, with demand remaining strong while other exotic markets flatlined and/or withered and died. Now that we are (albeit arguably) back on a global upswing, it stands to reason that demand for Moroccan property would increase.
But with so much talk about Riads recently, and so much talk about new resorts in the past, what should these increasing droves of buyers be looking for, a Riad or a new pad.
Luckily for me I don't need to answer this question definitively, a simple; it depends on what the buyer wants will suffice. So the question is better split in two and answered as follows:
Who is a Riad right for?
A Riad is right for pure investors, and people who are willing to spend time and money to make a lot more money. Most Riads need a lot of work, but this means that you can buy them fairly cheaply. Rental rates on refurbished Riads average about £500 per week, which can bring impressive yields, and capital growth should also be strong given the strong performance of the Moroccan economy.
Who is a New Pad Right For
While there are exceptions to every rule new pad's are generally better suited to holiday home buyers. This is because new properties available to foreigners tend to be resort properties, which means they are in locations geared up to holiday makers, with all the facilities and amenities necessary for great holidays, including golf courses etc.
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