Why investing in property in Marrakech is a safe bet?
Investing in property in Marrakech: a safe bet
Whether you want to live there or make a profitable investment, theproperty in Marrakech is attracting more and more investors. This Moroccan city, famous for its charm and pleasant climate, offers many opportunities for buyers looking for property. In this article, we'll explain why investing in property in Marrakech is a sure bet.
Economic and political stability
Marrakech enjoys a stable economic and political environment, making it one of the safest destinations for property investment in Morocco. For several years now, the Moroccan government has been implementing reforms to encourage foreign investment and improve the business environment. Thanks to these measures, Marrakech has become a destination of choice for investors foreigners, attracted by an ever-changing property market.
In addition, Marrakech's geographical location between Europe and Africa makes it a strategic crossroads for trade and tourism. This position further reinforces the city's economic and political stability.
A booming property market
Marrakech is experiencing significant economic and demographic growth, with the population increasing by around 3% per year. This has led to strong demand for property, both to rent and to buy. According to a study by Knight Frank, the property market in Marrakech grew by 7% in 2020, compared with 5.3% for the rest of Morocco. This momentum is set to continue in the years ahead, making it an attractive market for investors.
In addition, the property sector in Marrakech offers a wide variety of properties, from luxury flats and villas to traditional houses in the medina. Prices are also very affordable compared with other tourist cities such as Paris or Miami.
A booming tourism sector
Marrakech is one of Morocco's main tourist destinations, attracting millions of visitors from all over the world every year. Its pleasant climate, breathtaking scenery, rich culture and proximity to Europe make it a popular destination. This booming tourism sector is a major asset for property investors in Morocco. Marrakech.
Many tourists are looking for holiday rentals or properties to stay in on a regular basis. This offers attractive rental income opportunities for investors. What's more, some companies offer rental management services, making it easier for owners to manage their property.
Attractive tax benefits
Morocco offers an advantageous tax regime for property investors. Advantages include no double taxation for foreign nationals, exemption from property tax for 5 years and advantageous property tax.
In addition, as a foreign investor, you can benefit from non-habitual resident status, which means that you will not be taxed on your property income for 10 years. Your family members can also benefit from this status.
Promising growth prospects
Marrakech is a city in constant evolution, with numerous development projects underway. The "Marrakech 2020" plan includes the construction of new infrastructures to improve the quality of life for residents and visitors alike. In addition, the city is committed to strengthening its cultural and events offering, thereby attracting more tourists.
This growth in the property and tourism sector in Marrakech offers attractive prospects for investors. By investing now, you can benefit from future added value thanks to these development projects and the constant rise in prices.
Conclusion
In conclusion, investing in property in Marrakech is a safe bet for many reasons. The city's economic and political stability, its growing population and booming property market, as well as its booming tourism sector are all assets for investors. What's more, the tax advantages and development prospects make Marrakech a prime destination for a profitable, long-term investment. Don't wait any longer to take the plunge and take advantage of the opportunities offered by real estate in Marrakech!
