Financing your Property
Mortgages are available (subject to status). Please refer to your advisor for more details.
Tetuán is only 50 km from the lively city of Tánger. Located in front of the Spanish peninsula coast, the resident can accede by sea from the near port of Algeciras via Ceuta, by airplane via Tánger or by helicopter also via Ceuta.
Tangier is a city of northern Morocco with a population of 669,685 (2004 census). It lies on the North African coast at the western entrance to the Strait of Gibraltar where the Mediterranean meets the Atlantic Ocean off Cape Sparte. It is the capital of the Tangier-Tetouan Region. Currently the local authorities are spending vast amounts of money on improving areas of Tangier such as the Promenade, Public walkways and general infrastructure. This is clearly visible to anybody visiting the city.
Morocco offers major benefits from a financial standpoint which makes it a highly attractive prospect for purchasers:
Property market booming - average rises of 15% per year achievable.
Rental occupancy reaching 85% most years.
Low property taxes
Safe Investment - Notary supervised property registration similar to France/Spain.
Full repatriation of funds should you re-sell in the future.
Only 20% on any capital gains.
New tax benefits expected to be announced in 2007.
Attractions
Golf is an extremely popular and increasing passion in Morocco, offering superb facilities in a variety of magnificent landscapes. Major national and international competitions attract golfers from all over the world.
You can also ski during several months of the year in Morocco. Alpine skiing is only 70 km from Marrakesh on the powdery snow in the High Atlas Mountains.
Getting There
There are 15 international airports in Morocco, including Tangiers' new airport. Morocco also has a network of railways and roads leading to and from Tangier, and many car hire services in major towns and cities.
Capital Growth
In 2005, the tourism industry became Morocco's top source of foreign exchange revenues, with total turnover up 18% 3.75bn euros. This was achieved thanks to a 7% increase in arrivals at 5.84 million, and a spectacular 16% increase in the number of nights spent at 15.2 million.
At this time the property market in Morocco is booming. It is a huge time of growth for Morocco especially parts earmarked to be included in the national development plan.
These areas are being transformed into luxury resorts with supporting infrastructure for the tourism industry. This and many other factors create a huge demand for accommodation and property investors are happy to move in early.
