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Property in Morocco

Sir Winston Churchill was famously captivated by Morocco and present-day entrepreneur Sir Richard Branson couldn’t resist buying a retreat-cum-hotel there.
Both luminaries, like many others, were seduced by Marrakech, with its exotic lifestyle and vibrant cultural scene. But that’s just one side of what Morocco has to offer. Away from the hustle and bustle of the country’s ancient cities, there are vast stretches of beautiful coastline bordering the Mediterranean and Atlantic.

Morocco’s King Mohammed VI for one has seen the potential for residential tourism there and embraced a long-term vision to make it a world tourist hub. In 2001 he, in partnership with the Moroccan government, announced plans to build and sponsor six mega coastal resorts, collectively known as the Plan Azur. The aim is to encourage foreign investment and grow Morocco’s annual number of visitors to a mighty 10 million by 2010.

Things are starting to happen. In 2006 the British tourist market in Morocco rose by 40 per cent – more than double that of any other market, agent Saffron Villas reports. The list of facilities outlined for each Plan Azur resort is mind-boggling and includes championship golf courses, marinas, all types of sports facilities, shops and restaurants. Property is being sold in pockets of individual developments within each resort, in sites varying from beachside to frontline golf.

The first Plan Azur resort due for completion in 2009 is called Mediterrania Saidia and located near the town of Oujda on the Mediterranean. Developments within it include The Fairways, The Greens and Le Jardin de Fleur. Highlights are three championship golf courses, a 840-berth marina, nine luxury hotels, and a shopping centre. The five other Plan Azur resorts are on the Atlantic coast at Port Lixus near Tangiers, Mogador near Essaouira, Taghazout near Agadir, Mazagan, an hour from Casablanca, and – still to be confirmed – at Plage Blanche in Guelmin.
You can buy on resorts that are not part of Plan Azur. These include up-market developments around Marrakech, such as the Samanah Country Club, which offers luxury villas around a Jack Nicklaus golf course, and Domaine de l’Akhdar Vue du Paradis, which has traditional Moroccan-styled homes.If you fancy something more traditional, riads (townhouses built around courtyards) are available in Marrakech, Essaouira and Fez.

Paul Staines, director of Saffron Villas, a leading Moroccan property agent warns, “there is a risk in buying outside the Plan Azur resorts, so use your due dilligence and research the developers well.”

Cynthia Judge of Homes and Property Overseas (HAPOS) also recommends new builds over resale homes.
“Whilst it sounds romantic to buy an old riad and renovate it, unless you are prepared to spend a lot of time travelling to and from Morocco during the renovation process – and you speak the language and understand the Moroccan culture – it can turn out to be much more work than you bargained for, and also a lot more expensive than you would have thought,” she says.
“The same can be said for buying a small plot of land to build that perfect villa – obtaining title, planning and building regulations - these are all very different than the UK.
“My advice is stick to new builds. Prices in Morocco have risen over the last year and on one development alone we saw an increase of over 30 per cent between Phase 1 and Phase 2.
“That said, there's a lot of mileage in Morocco and we are still only at the beginning of the boom. Morocco has all the right ingredients to be one of the top destinations for Europeans in the next few years.”

The 2006 Open Skies Agreement – the green light to European budget airlines to fly into Morocco – and the appointing of an engineering firm to build a railway tunnel between Morocco and Spain shows that it’s all systems go in Morocco. Contruction of a tunnel from Morocco to Gibraltar starting in 2008.

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