April 4, 2006 at 1:25 pm #51699
not sure if this is the right site to ask about morocco but as its close to spain thought i would try.
Does anyone have any opinions on Morocco,is it a good investment?is it the new spain? Also there is talk that they will have an open skies agreement to allow cheap airlines in,does this include all airports inc. oujda?
Sorry if this is the wrong site for these questions.
April 4, 2006 at 8:50 pm #61610
Morocco is very intresting and should be a good investment. I have done some extensive research and will be appearing in Granada TV buying in the sun, covering MOrocco.
As part of the tourism plans OPEN SKY WILL COME IN FORCE 2007, easy jet statring marakesh in june/july so is gibairways/Ba to Tangiers.
Intresting Tax breaks on rental income/Capital gains Tax unlike Spain 35%
Billions are being invested on Infrastructure some stucture already there. nc ew tunnel between Spain/<orocco to start drilling in 2008.
However be carefull were you buy some of the developmnts that you see on websites are the futue Torremolinos/benidorm
April 6, 2006 at 12:21 pm #61632
Have you any confirmation that the tunnel starts in 2008? As far as I know the tunnel is still just rumours – as it has been for 20 years. The governments involved need EU money to finance the project, but as there is precious little to gain from the EU’s point of view I can’t see them ever coughing up the cash.
April 6, 2006 at 4:35 pm #61638
No body can be sure of anything. I beleive that a Euro 30 million has been set aside.
There are various treaties between EU, Free trade Zone with USA etc the current port is moving South to deal with all that will go on.
If you key in google you will plenty to be skeptical about.
April 6, 2006 at 5:37 pm #61641
I have been researching Morocco for years on and off. Here are some thoughts. The Medina in Marrakech has become v pricey and I have serious doubts that you will see a profit on refurbishing a riad. There is a lot of new build in La Palmeraie outside the old city but what is the resale market. I have begun looking at Fez because prices are v cheap in our terms. You may be thinking why haven’t I done something yet. The reason is simple. I have a nagging doubt about the underlying stability of the country. Before I bought in Medina Sidonia I met a French banker who ran BNP in Marrakech. He made it quite clear that Spain was a safer bet investment wise. Maybe I am going to miss out on some wonderful deals but never forget you need an exit strategy should your plans change. The largesr political party in Morocco is banned but if it was allowed to participate in an election the political picture would look very different. Happy hunting
April 7, 2006 at 7:37 am #61650
In terms of international legality there is already good experiences from Spanish Lawyers there, and following the rules there is no problem.
Maria de Castro
April 7, 2006 at 9:08 am #61651
Hola Maria De Castro.
Sorry what do you mean by
1)International Legality, in what context ????
2)What do you mean by and I quote ” following the rules there is no problem” What rules ?
April 7, 2006 at 10:49 am #61652
I mean that following the rules of International Law there is nothing to be afraid of if it is the case that you don´t fully understand the legal system you will be under at purchasing in Morocco.
Maria de Castro
April 7, 2006 at 11:02 am #61653
What about the country as a whole in terms of stability
April 7, 2006 at 11:05 am #61654
I would love to know more about the political stability of Morocco. I really don´t know.
Maria de Castro
April 12, 2006 at 4:35 pm #61717
I can tell you morocco is a very stable country as is Spain.
Morocco is backed by the USA like it or not? and has a long history with the state of Israel again like it or not? The Kings adviser is Jewish.
Morocco at one time had as many as 400.000 Jews living there and they still have an influence in Morocco today.
Morocco is a very pro western country and was the first country in the world to formally recognize the USA would you believe it, hence the close relationship.
Its a safe investment as most FDI (foreign direct investment) is coming from the west and the middle east in bucket loads recently the middle eastern countries invested 19 Billion pounds into Moroccan tourism projects.
I could go on for days but this is just a taster of Moroccan politics and investment.
May 22, 2006 at 4:19 pm #62318
The tunnel is not due to start drilling in 2008. It’s been due to start in 2 years time for 20 years now, and I doubt it will ever be built. Neither Spain nor Morocco want to fund it, and are hoping the EU will do so. So not much hope then.
There are also some rather worrying political problems in Morocco that make any investment there rather high risk. Don’t invest what you cannot afford to lose.
May 22, 2006 at 4:21 pm #62319
Oops. For some reason my page hasn’t refreshed from months back so I blithely ignored the dates and thought this was a new post. 😳
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