Moroccan property - the new Spain?

Who wouldn't want to live here?

Morocco's offerings of sun, sea and sand, as well as the country's cheap property prices are attracting an increasing number of British holiday home buyers says Spanish Living, an internet company providing information on Spain. This is not news to the locals in Fez who have been witnessing a surge in interest from the UK. Not only are the streets of the Medina suddenly crowded with Brits looking for property, but Moroccan websites that offer advice about buying or restoration in the Medina are registering a turn around in the number of hits from Britain.

A year ago The View from Fez had a majority of visits from the USA or Morocco. Not any more. These days it is not unusual to have 30% to 50% being from the UK. In London, there are even billboards advertising Fez and the various low cost airlines are making travel to Morocco very affordable. All of this is not going unnoticed by the large investment companies and investment websites. Money News - a UK based website - has published a story claiming that Morocco could be "the new Spain" as far as British property buyers are concerned.

In their article the website says that some Brits are turning their back on Spain and returning to the UK - well we have news for them. Many of the new arrivals in Fez have houses in Spain and are coming here rather than back to the gloom and cost of Britain.

Here is what Money News has to say: Although Morocco is exciting a lot of interest from those wishing to take advantage of cheaper property, Ailse MacFarlane, marketing director of Spanish Living, stated that a culture clash could open up as Morocco is predominantly a Muslim country.

Furthermore, findings from Conti Financial Services show that more Brits are selling up in Spain to move back to the UK and Ms McFarlane remarked that of those buying in Spain, it is cheaper property that is attracting attention.

Ms MacFarlane said: "Within the Spanish Living Group we're actually starting to look at property around the world and we've noticed an awful lot of British buyers interested in very cheap property in Germany and also Morocco.

"Our chief [executive] went to Morocco last week and what he said to me was that Morocco is how the south of Spain was ten years ago. So you can get apartments from about €15,000 to €20,000 (£10,140 - £13,520)."

Factors associated with the decline in demand for Spanish homes by Brits are high-profile instances of corruption and an influx of many Brits that some believe is diluting the local culture.

Photograph: Samir


Tags: Morocco Fes, Maghreb news