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Morocco recommended to expats

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Morocco recommended to expats

People in the UK who are looking to purchase a foreign property have been advised to look at Morocco.

According to M2Morocco Real Estate, the north African nation offers particularly good exchange rates with the UK.

As a result, anyone looking to arrange an online money transfer between Britain and Morocco should get good value.

"Now is a great time for UK buyers, as the exchange rate has moved in their favour over the past year or so," said Nik Kapur, consultant at M2Morocco Real Estate.

Overseas property buyers were encouraged to consider purchasing apartments in city centre locations if they are looking to get returns on their investment.

Mr Kapur said this is because the short and long-term rental markets in these areas are particularly buoyant, with strong demand for accommodation.

This, he stated, means overseas property buyers could benefit from both capital appreciation in the future and healthy rental yields.

Prospective investors were also advised that they could cash in on Morocco's expanding tourism industry.

Marrakech was identified as the top holiday destination in the country and the market looks set to expand in the near future.

Indeed, Mr Kapur noted that a new airport terminal is due to open in the city in early 2013, which he believes will stimulate growth in its tourist trade.

"We believe that Marrakech is the best destination for overseas investors," he commented.

However, Mr Kapur insisted there are several steps that inexperienced investors need to take before committing to a purchase in Morocco.

For instance, he said would-be buyers must make sure the land or property they are looking at "has a clean title". In addition, investors were advised to set up a personal bank account in the country.

Mr Kapur said this would help to ensure they do not come up against any problems if they want to sell up and repatriate funds back to the UK.

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