Quote:
Originally Posted by andyk2
VAT in Morocco has just gone up to 20% on new properties. That means (assuming your estate agent is only charging 5% commission on your resale and your lawyer is not screwing you for the legals) that your property has to appreciate in value by 28% before an investor sees a penny of profit.
There are plenty of markets in the Caribbean which offer better standards of resort than Morocco and, because of the tax advantages, are better suited to investment. (I pick the Caribbean solely because of the weak dollar - you could add Egypt, parts of Turkey, parts of Asia, and even Spain to the list of locations that will give a better capital return and better holiday experience than Morocco.
If you like Morocco, go there, but I donīt see a "huge return by investing in Morocco" (unless you did it over 6 months ago and have a guarantee on the gross price you are going to pay) - and looking at the market lately, would be very specific on what and where I chose to invest.
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Well done Sir!
After my visit to Marrakech last year, I started looking at Morocco as an investment. I couldn't believe the amount of charges/taxes imposed. Forget it, I thought and haven't looked back.
Lovely city though!
