The Moroccan housing market has finally taken off because of the series of political and economic reforms in the country.
Morocco being a beautiful country also helps as more and more foreign investors look to buy second homes or vacation homes here. What has changed recently, however, is that foreign buyers of property in Morocco are just as likely to be from China or Russia as they are from the UK and the Middle East. But it is very clear that Morocco has many takers among property investors from across the world.
There is a sizable expat community in Morocco, who are attracted by just how cheap life in Morocco is compared to back home in England or France. Property investors are also excited by the low property transaction costs in Morocco, the excellent quality of the residences on offer, and the liberal inheritance laws.
Morocco has actually benefited from the slowdown in the property markets in Spain and France, which has helped it make a case as an excellent alternative for property investors.
If you are looking to sell property in Morocco, it would really help if your Moroccan home is located in the city of Marrakech, which is very popular with foreign investors. Marrakech looks the most promising of all cities in Morocco, and homes here fetch a very decent value in the international property market.
Let us first consider the financial aspect of selling property in Morocco. In Morocco, the government is very relaxed when it comes to charging tax, so you won’t have to worry about paying too much tax on a property sale.
The capital gains tax in Morocco is very reasonable – it has been fixed at 20% of the profits made on the property if the property has been sold within the first five years of buying it. There is no capital gains tax if you have held the property for at least 10 years. That is why it makes sense to hold on to the property for a longer duration.
The other big advantage is that there is no property transfer tax or inheritance tax either. That being said, people who generally buy property in Morocco are not too cost conscious buyers either. They are generally sophisticated high net worth individuals from the Middle East, China or Russia, looking to diversify their investments.
That’s why you should sell your property in Morocco as a lifestyle statement. There should be something special about your property, a unique selling point, which attracts the rich property buyers from abroad. Homes in Tangiers and Marrakech fetch the best price.
The importance of an international real estate agent who has an excellent network in countries such as China and Russia cannot be overstated when it comes to selling property in Morocco. These agents command respect from high net worth buyers and their recommendation carries a lot of weight. If you can get a reputed international real estate agent to sell your property for you, that’s half the battle won.
If you need great advice on how to sell property in Morocco quickly and safely to super rich overseas property investors, do contact us at www.worldwidegroup.eu immediately. We have been selling properties in Morocco for the past 8 years with great success.
Please provide all the information regarding your Moroccan property in the sell overseas property contact form along with your relevant details and wait for us to get in touch with you.