Buying property in Morocco is becoming increasingly popular with foreign investors as more and more people realize what Morocco can offer them. One such offer is high quality developments built at bargain prices. Many of the properties are aimed at the luxury market and come with exceptional features and facilities. All of this contributes to Morocco becoming famous as a top destination for buying investment property Grund und Boden.
Morocco is rich in history
Rich in history, Morocco is considered a magical and mystical world that attracts travelers and tourists alike. Rabat, the Moroccan capital, is a modern city that still retains its old-world charm. The coast is very popular with tourists , and destinations like Casablanca (made famous by the 1942 American romantic drama) and Marrakech are popular with everyone. Morocco is expected to grow in popularity as a tourist destination, hence investors are predicting that property prices will continue to appreciate.
attract world , such as Saidia and Tangier. Currently, the property market in Morocco is emerging as one of the most rapidly developing markets with huge investment potential, which is particularly good news given the UK economic climate today. The Moroccan government takes an active role in improving the real estate market. They have implemented various initiatives such as the King's Vision 2010 to boost the country's tourism and infrastructure, which in turn will improve the country's real estate market and economy.
You have decided where to buy a property in Morocco
Once you have decided where to buy property in Morocco, the next step is to seek legal advice so you don't make any costly mistakes. If you want to convert your real estate investment into a property for sale, you have to pay tax on the income, with the first three years being tax-free. If the property is sold within five years, a capital gains tax will be levied based on the sale price less the purchase price. There is good news in terms of taxes: as the two countries have a UK-Morocco tax treaty in place, this protects the investor from liability for capital gains in either country.
When it comes to choosing the type of property to buy, be prepared to invest the time, effort and dedication, especially if you are looking to find an unusual traditional style of property. Know your budget and stick to it, and take photos of every property you look at so you can remember each one. Once you have found your property, you must make a verbal offer to the seller through the agent; Remember that negotiation is rarely an option when buying property in Morocco. The seller then decides whether to accept the offer or increase the price. It is your decision whether you want to proceed with the sale of the property or withdraw. If you wish to proceed, the next step is to draw up a compromis de vente (“a preliminary contract signed by the seller and buyer of a property, containing a two-way promise tantamount to a provisional contract of sale” ) carried out by a notary (ministry official). Once you receive the compromis de vente , you have two weeks to change your mind. If you want to proceed, you still have to follow a few steps and then you can enjoy the property.
Buying property in Morocco is an exciting opportunity for investors; Not only will you have a property in an exciting country, you will also Grundvermögen have a property that could bring you a really healthy return on your investment.
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