morocco property has potential for double digit annual growth
News Posted On: 29 May 2009
The Moroccan economy really is a shining beacon in a world of gloom, with growth forecasts of over 5% from a number of trusted organisations including the African Development Bank and the International Monetary Fund.
The main reason for Morocco's excellent economic performance is the record levels of rainfall in the country since last year, which is leading to massive growth in food production and agricultural exports. But even taking food out of the equation Moroccan economic growth was still recorded at 1.9% across all other sectors in the first quarter of this year.
Morocco became a favourite with overseas property investors last year and prices grew rapidly, but there is still a lot of growth to come, according to Les Calvert, director of overseas property portal Property Abroad.com.
"Morocco property shot up in value from mid-2007 till the end of the third quarter of last year. This still left prices comparatively very low compared to the world's developed market, and plenty of growth potential in reserve. With Morocco's current economic performance, even without foreign buyer's the internal housing market is still seeing growth. So people shouldn't expect to get a bargain, but if they want a high return investment Morocco should definitely be on their shortlist," he said.
"Price growth will accelerate once again, possibly even starting from the last quarter of this year, as there are figures to suggest pent up demand for overseas property, but definitely from the middle of next year. We're talking about 15-30% growth per year," he added.
Property Abroad is currently advertising dozens of properties for sale in Morocco, prices start from around £20k.
Back to news articles for this country
Latest Related News Articles in Morocco
Buying Property in Morocco a Riad or a New Pad
2010-09-20
Morocco is set to be a big seller in the world of overseas property in the coming months and years, .....
Morocco Property to Benefit from Increasing Affluence
2010-05-25
Morocco is set to see massive growth in its economy and the affluence of its people, this is likely .....
What Became of Morocco Property
2010-05-03
Morocco's property market was hot news in 2006 and 2007, but you never hear of it now. What became o.....
Rush on to Buy Riads in Morocco
2010-02-11
Buyers from around the world are going after the phenomenal investment potential of the bargain that.....
Morocco Tourism Numbers Rose 6 Per Cent in 2009 With More to Come This Year
2010-01-18
Despite the global economic downturn Morocco saw a 6 percent rise in the number of visitors to 8.35 .....
Morocco Property Has A Lot to Offer Overseas Buyers
2009-12-23
Morocco has a powerful package of benefits and growth fundamentals to attract overseas property buye.....
Morocco Recommended for Overseas Property Investment
2009-07-04
Morocco is positively vibrant, as it rapidly grows into one of the hottest destinations for tourism .....
Morocco Property Has Potential for Double Digit Annual Growth
2009-05-29
The Moroccan economy really is a shining beacon in a world of gloom, with growth forecasts of over 5.....
Morocco economy remains strong
2009-04-24
Morocco's emergence as a hot property destination for overseas property investors was massively stun.....
Morocco is set to be the top overseas summer hotspot
2009-04-22
According to Rightmove, Morocco is one of the fastest-growing destinations for both property investo.....