The Irish Sunday Independant has a strange little story about the property boom in Morocco. Strange? Well, read for yourself:
WHY did teachers find it so difficult when you were honest with them at school? "Would you do that at home O'Keeffe?" they would shout as half a ton of fetching leatherette strap came hurtling towards my poor little lámh.
"Funny you mention it, Sir, but yes and in fact if you don't mind me saying so, you're doing well here - normally at home I'm not half this good".
Those teachers always seemed to imagine that when with our parents we were little cherubs busying ourselves with domestic chores and familial harmony.
Not quite. In our house I normally had Dad in a head lock by 6pm, while my siblings lay in ambush for Mother with a mixture of Patriot and ground-to-air missiles as she came home from work. Kids, eh?
Poor old teachers though. There's nothing wrong with an honestly-held belief, and this week we ask you to turn your attention to the Morocco property market and do the same.
This time however you really can believe what you hear. Apartments at €79,000 in sunny Morocco? You're 'avin a larf', as they might say in Albert Square. But tell me more Property John.
Okay I will. This is Mediterrania Saidia, and it's tipped to be the hottest investment area in the world for investors and lifestyle purchasers alike.
At 50pc cheaper than the Costa del Sol, for example, you can see why. The Mediterrania Saidia is situated on the northern coast of Morocco with easy access from anywhere in Europe, including a 30-minute flight to Melilla from Malaga and a trip from the airport of just over one hour.
Until 1956 Morocco was a French colony (and not a lot of people know that) but now it is the target of some very serious investment and attracting a new breed of investor. King Mohammed's Vision 2010 is a blue-print plan to bring 10m visitors a year by 2010, creating over 600,000 new jobs to the economy.
The government has also created The Plan Azur - six large resorts on the Mediterranean and Atlantic coasts, with today's offering, The Mediterrania Saidia, being the most prestigious.
The difference in prices here is phenomenal, says Regina Burke from Ocean Propertys, with prices starting from as little as €79,000 for a one-bed apartment at 600 sq ft.
Check this out though. There is no capital gain if you hold the property for over 10 years which makes it a serious long-term investment or retirement plan for most people, and also there is no inheritance tax. There is also no rental tax to be paid for the first five years.
Okay, so there's three golf courses, an 800-berth marina, some 17 beach clubs, a 50pc discount on golf membership, and reduced green fees, and 6kms of quality beaches alongside 70pc mortgages availability.
But apart from that, what have the Moroccans ever done for us? Quite a lot, it would seem. Get calling and find out for yourselves.
And for those of you who are interested, here is a map showing Saidia.
Tags: Morocco Fes, Maghreb news
No comments:
Post a Comment