According to CB Richard Ellis the property market in Morocco has sustainable growth for a number of years to come and the managing director, Karim Beqqali, feels the country has been successful in attracting a large amount of investment into holiday homes.
The property market in Morocco has been affected in the past by the global economic downturn, and this had a severe impact on the second home market which had previously been buoyant.
However it has been largely untouched by the recent unrest in parts of the Middle East with most analysts feeling it's far enough away to be unaffected by these problems.
Good economic growth in Morocco has resulted in a healthy local market, and a rapidly expanding middle-class is giving greater impetus not only to the residential property market but also the commercial property market.
Morocco plans to promote coastal tourism through six new coastal resorts which are collectively called the Azur Plan. These results will eventually create more than 100,000 beds of which 73,000 will be hotel beds.
The plan was implemented before the global economic crisis, and since then some international developers have had to transfer projects to local operators.
At the moment Marrakesh is the primary tourist destination in Morocco and the city has managed to attract many world-class hotel brands and has over 5.5 million overnight stays year. However the property markets within the other three major cities of Tangiers, Casablanca and Rabat have also experienced strong growth in recent years.
There are no restrictions for overseas buyers and Morocco is easily accessible from a number of major European cities. Prices have declined slightly in the wake of the economic crisis, but now seem to have stabilised.
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