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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As an investor an boker dealing with Property in Morocco I am very positive in investing in Morocco. I am not negative about investing in other countries may be because you know how to invest in Turkey...and other countries.
To invest in a country you need to know the countrry, the market and to falow the updated News about any investment. Recently Moroccan Government removed all the obstacles to empower the overseas investors in Morocco in real estate, in tourism and other industries, thanks to the king Mohamed VI who is falowing the investment and the market competition closely and removing all the obstacles for investors. I know many investors who invested in Dubai, in Turkey...who are saying the same things as you said about Morocco. To have success in investing in any country ou need to work with local people and investors i had the experience in Spain 17 years ago and i was saying the same thing because i was working foreign investors from Spain. I Learened from that lots.
I am not promoing Morocco property because the country doesn't need that. I can tell you that buyers and investors are well informed before to invest in any overseas real estate because they can find all the information they need in the internet especially in a great forum like totally property and other forums. I can tell you that the buyers now do more research and get more information and not like before 20 years ago. We know that there is a big competition but we are happy because competition is good for the business.