Marrakech Offers the Investment Opportunity of Early Dubai

According to overseas property investment specialist Select Property, Marrakech, Morocco, looks set to be the next big investment hotspot. The company is offering traditional apartments and riads from £63,227, and estimating 141% return on investment by completion in April 2009. These projections support the company’s claim that Marrakech is set to become the next Dubai, where comparable properties which sold for £60,000 in Dubai 4 years ago are now worth in excess of £140,000.

The development, Atlas Golf Resort, is situated on an 18-hole golf course and comprises 1, 2 and 3 bedroom apartments (starting £63,227), each with their own private garden or terrace. Authentic 2, 3 and 4 bedroom riads are available from £200,927. Atlas Golf includes a 4 star Marriott hotel, 4 star and 5 star hotels, clubhouse, restaurants, shops and swimming pools. The golf course will be one of 10 in Marrakech operating by 2010, another driver boosting rental potential and property prices.

According to Managing Director of Select Property, Mark Stott, ‘‘Atlas Golf Resort, and Morocco as a whole, have all the elements required of a strong investment opportunity with many similarities to early Dubai. Both leaders share a vision for the prosperity of their nations, low land prices and labour costs, as well as the government’s determination to bring in international investment means that property investors can buy real estate now at prices far lower than they encounter in any established European market.

“In addition, the tax situation is favourable. Capital gains tax is low and runs between 0% and 20%, inheritance tax in Morocco is 0% when assets are transferred to another family member and there are no annual property taxes to pay for the first 5 years that you own real estate in Morocco making it a tax attractive country in which to invest”.


22/10/07