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Q1. |
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Any investor, resident or overseas buyer can purchase property in Morocco. Residents from any country in the EU or the USA are particularly welcomed in Morocco.
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Q2. |
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Yes it is possible to obtain mortgages on Moroccan properties. 60% - 70% is relatively standard but it depends on your personal situation. The going rate could be anywhere from 5.5 to 7%.
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Q3. |
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Yes as a buyer you will need to have a Moroccan bank account but only in time for the completion of the purchase. We will ensure that you are instructed of exactly what is required from you at all stages of the purchase.
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Q4. |
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You can use your own bank or a currency-exchange broker such as Moneycorp. We reccomend using a FX company such as Moneycorp when transfering large sums of money as it can save you considerable amounts.
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Q5. |
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You can reserve your property in Morocco with just £3,000. This reservation fee holds the property for you and freezes the price.
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Q6. |
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The exact payment structure on property in morocco varies from development to development and from developer to developer. In general there is a deposit required of between 15% and 40%, sometimes an interim payment and then the remainder on completion. Please contact us for more information on the morocco property you are interest in.
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Q7. |
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Generally in Morocco around 5% - 6% is required in addition to the property purchase price to secure your property. These fees are broken down further in the example below:
Stamp duty: 2.5%
Legal Fees: 1.1%
Notary fees: 0.5%
Land Registry: 1.5% to 2%
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Q8. |
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Yes you will require legal advice. You are free to appoint your own.
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Q9. |
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Of course. The reason many people invest in property in Morocco is to operate a "Buy to Let" strategy and aim to generate a good solid rental income whilst the value of their property appreciates. New buyers are exempt from property rental tax for the first 5 years. Morocco has a solid rental market with occupancy around 85% in the high season and expected to rise as Vision 2010 matures. We work closely with a Property Managment Company which we can recomend which would do all the maintaince and renting of your property.
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Q10. |
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As with most countries there are additional community fees but these are not usually expected to exceed €60 per month.
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Q11. |
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Morocco offers some favourable tax options to overseas property investors to find out more you can visit our Morocco property tax section.
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Q12. |
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Yes most of our developments have this written in your contracts. But this is a point that can vary from project to project so it is important to ask about this if this is an important part of your investment strategy. In most cases it is possible without any problems, sometimes there maybe an administration charge to action this option.
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