There is a rush on to buy Riads in Morocco, owing to the fact that they are in limited supply -- especially to foreigners -- and because they are now renowned for their phenomenal investment potential. For those that don't know; Moroccan Riads are a large house or palatial property with a garden indoors.
In the last 3 years dozens of buyers from around the world, including Britons have gotten some fantastic deals on Moroccan Rhiads, which they have subsequently fixed up for an extraordinarily low price because of the comparatively low cost of materials and labour in Morocco. That is where the comparative lowness ends; Moroccan rhiads fetch as much and often more in rental rates than the swanky new apartments.
On top of all that you have the fact that the Moroccan economy has yet to feel any of the negative effects of the downturn; last year the Moroccan economy is estimated to have grown by over 5% due to the continued strength of the construction industry and a bumper agricultural harvest, not to mention massive tourism growth. A similar growth is expected this year.
This year is also the year of the 2010 Vision, a massive marketing campaign to increase tourism to Morocco. It is also the year that many of the developments started in 2008 are due for completion. So, all in all it is a very exciting time for the Moroccan property market.
Morocco - Riads Gold Rush
12:01
Mr. Ifos