Select Property report Marrakech offers the investment opportunity of early Dubai
According to overseas property investment specialist Select Property, Marrakech, Morocco, looks set to be the next big investment hotspot.
Select Property is currently offering traditional apartments and riads, and estimating 141% return on investment by completion in April 2009. These projections support the company’s claim that Marrakech is set to become the next Dubai, where comparable properties which sold for £60,000 in Dubai 4 years ago are now worth in excess of £140,000.
With investment potential high Select Property believes their latest development will receive huge interest. The Atlas Golf Resort is situated on an 18-hole golf course and comprises 1, 2 and 3 bedroom apartments, each with their own private garden or terrace, as well as authentic 2, 3 and 4 bedroom riads. Atlas Golf also includes a 4 star Marriott hotel, 4 star and 5 star hotels, clubhouse, restaurants, shops and swimming pools. The golf course will be one of 10 in Marrakech operating by 2010, another driver boosting rental potential and property prices.
According to Managing Director of Select Property, Mark Stott, “Atlas Golf Resort, and Morocco as a whole, have all the elements required of a strong investment opportunity with many similarities to early Dubai. Both leaders share a vision for the prosperity of their nations, low land prices and labour costs, as well as the government’s determination to bring in international investment means that property investors can buy investment property in Morocco at prices far lower than they encounter in any established European market"
“In addition, the Morocco property market tax situation is favourable. Capital gains tax is low and runs between 0% and 20%, inheritance tax in Morocco is 0% when assets are transferred to another family member and there are no annual property taxes to pay for the first 5 years that you own real estate in Morocco making it a tax attractive country in which to invest”.
About Select Property:
Select Property was established in 2003 with the aim of enabling more people to benefit from the lifestyle and financial rewards of owning a property abroad. The company searches the world to identify those countries and regions which are considered real-estate investment hotspots - locations which can potentially make the strongest financial return. The investment company’s expert team then carefully selects every development in accordance with five key principals: ease of purchase, Price, Location, Desirability and Credibility. By using these principles as the benchmark for each development Select Property ensure its customers have access to an impressive portfolio of overseas property.
Select Property currently offers investment property in Dubai, Turkey, Spain, Morocco and Bulgaria.
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