Tue Dec 22 10:24:16 UTC 2009

IMF Predicts Steady Economic Growth in Morocco...

With many countries officially coming out of the global recession, in particular, several of Morocco's key Eurozone trading partners, a recent mission to Morocco by the International Monetary Fund (IMF) has forecast that Morocco is set for a period of steady economic growth. The largely positive conclusions of the IMF mission which  visited Rabat from November 2-13, will be welcomed by Morocco property buyers. The news will be especially encouraging to those who have, or are close to completing on their Moroccan property purchases and who intend to let out their properties with the aim of attracting rental income from the lucrative Moroccan  professional sector who are prepared to pay a hefty price premium for well-located holiday apartments during the peak summer letting season. The IMF report noted recent stabilizing trends in several of the country's key sectors and stated that non-agriculture GDP is expected to grow by about 2½ percent in 2009, with overall GDP growth  projected at about 5 percent. They also said that Morocco's economic improvement is being influenced by the strong performance of the Asian economies and recovery signs in other countries. The mission concluded that Morocco’s financial system remained robust and  because of its limited integration with the external world, Morocco has not felt the direct effects of the global financial downturn. Michael Kent, Managing Director of Moroccan property specialist, Moroccan Sands, commented: “Its encouraging to hear that the Moroccan economy is set for a period of economic growth, although because of the uncertain nature and potential unevenness of the global recovery, its important for those considering purchasing property in Morocco to make astute choices." He added: “Prestigious developments such as the Blue Pearl Golf Resort in Saidia where front-line golf apartments are to be  sold at 25% below current market prices and come with an 8% - 3 year rental guarantee, are definitely worth considering.”

Mon Nov 30 13:48:56 UTC 2009

Why Golf Properties are a First Class Investment...

[caption id="attachment_365" align="alignleft" width="300" caption="Paradise Golf and Beach Resort"][/caption] Moroccan Sands - Morocco Property Report...

With the increasing popularity of golf, buying a property on a golf development could prove to be a very smart investment choice.

 

Not only do a large majority of golf developments provide a wide range of on-site facilities, but that magical golf ingredient serves up enhanced rental income and the mouth-watering prospect of year-round letting.

 

Golf continues to grow in popularity and this can be seen by the number of new golf developments being built around the world. The proliferation of new golf courses is great news for golfers, particularly those who prefer playing their golf in the sunshine. What´s more, overseas golfing holidays are one of the travel/leisure industry’s major growth areas.

 

This sharp rise in demand for year-round golf has resulted in healthy rental returns for those who have purchased golf properties and despite the global downturn, it´s worth noting that resale values on the better golfing developments have held up very well over the last year or so. This is particularly the case in Morocco where a number of specific factors have resulted in the Moroccan economy escaping the worst of the global recession.

 

It may sound obvious, but a vital factor when considering buying on a golf development, has to be the quality of the golf course. A well designed and well located property on a golfing development will not attract golfers unless the course itself is equally well thought out. This is why it is advisable to invest in a golf development where the course has been designed by a renowned designer - someone with a good track record. An example of a great golf course is the Steve Ritson designed, par 72 championship standard course currently nearing completion at the superbly located Paradise Golf and Beach Resort, near Tangier in northern Morocco. 

 

Not just for golfers... Over recent years there has been a noticable increase in the number of non-golfers buying properties on golfing developments. This might seem a little surprising, but many non-golfers are attracted by on-site facilities which can include: tennis courts, health spas,, restaurants, bars and fitness centres. Another advantage that can appeal to non-golfers is the safety aspect, with many golf courses offering 24/7 gated security. Golfing developments also offer the reassurance that the view from the properties will always be the green of the golf course and not some ugly office block or high-density development.

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Moroccan Sands are the No.1 Morocco property specialists. We offer a wide range of investment opportunities including the spectacular Paradise Golf and Beach Resort near Tangier, and the outstanding Blue Pearl Golf Resort in Saidia.

Wed Sep 09 11:20:24 UTC 2009

Time for Morocco to Shine

As Northern Europe returns to work after the summer holidays it’s not just the memories of lazy days on the beach that are encouraging a renewed sense of confidence and optimism to spread. The signs are that the major Euro economies (except Spain) are gradually climbing out of recession and the fabled “green shoots” of recovery are now growing into something more concrete. So what does this mean for Moroccan property buyers? A recent poll of visitors to the Moroccan Sands website showed that nearly 60% of people thought that now, or in the next few months, was the ideal time to buy property in Morocco. Michael Kent, Managing Director of Moroccan Sands commented, “I’d tend to concur with the results of the poll. If you have money available to put down against a property there are definitely good deals to be had. Most Moroccan developers have stock they are keen to shift and are offering a range of inducements and discounts but I only expect this situation to last a couple of months until some of the backlog has cleared. Furthermore the credit crunch may have been beneficial to people who had already purchased Moroccan property as with no new projects launched over the last year there is not the risk of over saturation that can be seen in markets such as Egypt and Turkey.” All the evidence points to Morocco being ideally situated to recover quickly as investment and tourism numbers have kept growing in the downturn. Visitors to Morocco were up 8% y-o-y with the key French and Spanish markets up 8% and 14% respectively. Several market leading hotel chains, such as Radisson and Anantara Resorts, announcing major new projects whilst infrastructure improvements, such as the new runway and terminal at Oujda coming on line early next year. And if you want more evidence of the enduring popularity and attraction of Morocco then the decision by the makers of the new Sex in the City movie to film in Morocco will surely be encouraging.

Wed Nov 19 15:23:20 UTC 2008

Another boost for Moroccan tourism

In addition to their strategic plans “Vision 2010” and the Plan Azur the Moroccan government announced on 18th November a further $95 million dollars for the tourism sector. This massive amount dwarfs anything spent elsewhere and should be viewed as a further sign of confidence in the long term aspirations of Morocco. Michael Kent, Managing Director of leading Moroccan property company Moroccan Sands commented, “ This once again shows why Morocco is the only overseas destination that deserves serious consideration from investors. There’s such an enormous amount of investment flowing into the country from the Gulf and Europe that growth, even in these constrained times." Indeed the figures support this assertion – for whilst most of Europe and the US is forecasting minimal or even negative growth Morocco predicts a year of continued growth, with the latest estimates (Oct 2008) at around 5.8%. Indeed this figure could be set to rise once the lower cost of fuel filters down through the economy. Mohammed Boussaid, the Moroccan Minister of Tourism, also added that due to the policies put in place by the government (such as developing resorts in virgin areas and the new flight route agreements) would enable Morocco to survive and prosper in these difficult times. Which is all good news for people buying property in Morocco as greater prosperity will stimulate not only the domestic market but also continue to attract overseas buyers.

Wed Nov 19 15:37:30 UTC 2008

Book now! Mediterrania Saidia Resort to be open for next summer.

At  meeting in Palma, Mallorca last week all the major players in the fabulous five star resort “Mediterrania Saidia” signed a memorandum of understanding that the resort will be ready by June 2009. Under the agreement FADESA Maroc will deliver the two hotels it’s currently working on in March and April next year – giving ample time to train staff before the summer rush. An extensive marketing plan for the resort was also agreed and will be implemented in conjunction with the Moroccan Tourism Board and hotel operators, Barcelo and Iberostar. Michael Kent of Moroccan Sands added “We been extremely impressed by the recent progress in Saidia , the direct motorway link to the airport is complete and I think the first visitors will be bowled over by what’s on offer. We’ve been involved with Saidia from the start and it’s tremendously rewarding when milestones in the project such as this are reached.

Thu Apr 23 11:12:25 UTC 2009

Positive economic growth in Morocco contrasts with UK forecasts

In contrast to the UK where yesterday the Chancellor was gloomily predicting a contraction in the UK economy, Morocco's 2009 economic growth should stand at 5.2%, said the Centre Marocain de Conjoncture (CMC)* in its latest publication dedicated to the financial turmoil. Analysing the Moroccan economic situation, the Centre underlined, however, that if the crisis deteriorates, this year's growth would not exceed 4.8%, to fall to 4% in 2010.  The French-language publication also stressed that Morocco's financial sector has not been directly affected by this crisis.

"At the beginning of the crisis many questions concerning the Moroccan financial sector were raised, but objective data released later showed that the national financial system will not be affected, directly, by the crisis," it pointed out. As to the real estate sector, the CMC's stressed that this sector operates in a context marked by a clear deceleration, growing only by 9.4% in the last quarter of 2008. The CMC also reported that tourism receipts fell by 3.5% but there was an increase in terms of visits, suggesting that visitors are being more careful with their money in the present climate. Overall, in the context of the global economic turmoil, the signals from Morocco suggest that whilst it will inevitably be affected by the global economic problems (in terms of reduced tourist spending and remittances from Moroccan ex-pats) the basic health of the economy is extremely robust and this situation places Morocco in a great situation to exploit the economic upturn.

Wed Apr 15 15:37:48 UTC 2009

Morocco gears up for the first GP

Motor racing enthusiasts in Morocco and around the world are keenly awaiting the first Marrakech Touring Car GP which runs from 1-3 May 2009. The " Race of Morocco" is the only leg of the FIA championship to be staged in Africa. The track location, along Mohammed VI and Ourika Avenues, with its exotic backdrop between the red city’s legendary walls and the snow-capped Atlas Mountains in the distance, will quickly make it one of the most attractive circuits in the world. Not only will it directly attract more tourists to Marrakech on race days but the images shown around the world will almost certainly increase demand for property in Marrakech. The circuit layout will allow for fast and challenging driving, giving fans and TV audiences an exciting performance. So be sure to tune into Eurosport Europe for more coverage. See the website here