morocco good for foreign investors
News Posted On: 25 July 2008
Overseas property buyers could find Morocco a good place in which to make an investment, according to a British expat.
James Bailey, who hails from London, decided to pack his bags and seek employment in Morocco 18 months ago.
Speaking to Building magazine, he said that within this period of time, he has witnessed considerable growth in the country, particularly in its property sector.
He stated that new housing developments are regularly being created, while foreign interest in the market is continuing to increase.
Mr Bailey has credited the government with helping to bring this situation about, as it has recently liberalised the country's property laws.
Morocco is now benefiting by bucking the international trend and experiencing a healthy rate of expansion.
"Since September 2007, investment in the Moroccan economy has grown 32.9 per cent despite the credit crunch," Mr Bailey commented.
This comes after Homes Overseas magazine revealed that authorities have invested more than £7 billion on infrastructure improvements and new homes in Morocco.
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