Well, I hvae said it before and I will say it again: the worst of the downturn on overseas property must be over because the British national press is picking up its coverage of overseas property markets massively. Nothing said this to me more than when the Telegraph ran a story on Morocco property yesterday.
Morocco is an example of an overseas property market that we should all be holding up. During the boom, Morocco was one of the fastest rising stars. Overseas buyers were making investments in the country based on massive potential for strong rental yields and capital growth.
The great thing is that Morocco has lived up to its forecasts. The economy has continued to grow, and what's more the economic growth has been partly based on continued growth in the construction sector (though it is mostly agriculture). The International Monetary Fund is forecasting 4.4% growth this year.
Not many countries have managed to continue growing economically throughout the downturn, fewer still have seen growth in their construction sectors. But perhaps the most important thing, is that this has led to continued growth in Moroccan property prices throughout the downturn.
The Telegraph has highlighted the popularity of Morocco's traditional riads with British buyers, who buy them cheap and then restore them to their former glory. But the most inreresting part of the article for me, was the fact that the lady mentioned in the article is renting out rooms for £125 - £150 per night.
This is a testament to the popularity of Morocco as a tourism destination. But more importantly, given the low prices of property currently found in Morocco it gives an idea as to what kind of rental yields you can get. In my opinion the off plan resort properties have the potential to be especially profitable, but as always do your research at length.
View Morocco property for sale
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