Luxury Property, Economic Growth on the Rise in Morocco

Luxury Property, Economic Growth on the Rise in Morocco

From Property Abroad

Morocco is turning into another Arabian real estate success story, with a future marked out by better economic growth than most European countries and good relations with both its neighbours and the IMF. Morocco has seen continuing economic growth, improving social indicators and an expanding middle class over the last decade, according to a report fro Aylesford International. The Moroccan government has encouraged this change, presiding over reforms that have rescued the country from its 1980s recession by recognising the key importance of Morocco’s tourist industry to the country’s economic health.

As part of that expansion, the second home industry in Morocco is booming, fuelled by demand from domestic buyers of second homes, expatriates buying holiday homes and this has recently been bolstered by an influx of investment capital from high-net-worth individuals from abroad. Wealth-X says there are now 35 ‘ultra high net worth’ individuals in Morocco, with a total wealth of $5bn, who are interested in property as an investment.

Read more at property-abroad.com