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Head To The Desert
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Money Investors Head To The Desert |
Marrakesh in
Morocco is experiencing a mini-Dubai style property boom. Over the
next five years, 17 developments, comprising nearly 10,000 new homes
are due to be completed.
A warm climate
and easy access from the UK, combined with comparatively low property
prices, a strong economy and a stable currency, makes Morroco an
exciting prospect for property investors.
Marrakesh's
desert location offers a different range of attractions to other
Morrocan developments based along the coast. Developers are hoping
that tourists will be attracted by the vibrant medina and nearby
Atlas Mountains as an alternative to beaches and the sea.
Whilst the majority
of new developments will be hotels and villas, investors may want
to consider purchasing a Riad. These are comfortable town houses
located within the walled city itself, but they will need to be
quick. Prices of Riads have rocketed in the last few years and there
are only a handful left.
Worries that
the new developments will end up resembling Californian condos and
desert golf courses, eroding the Moroccan culture are countered
with building regulations to limit the height of new developments
and ensure use of traditional building materials from local sources.
Just three hours
flight from Britain, Marrakesh could be a vibrant and interesting
alternative to buying a holiday home in France or Spain.
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