3 July 2022
Only a few hours from France, Marrakech is positioned as a major hub for trade and tourism between North Africa and Europe. Its strategic location and economic growth offer many real estate opportunities for investors.
An essential step to reach the Atlas mountains, the deserts of southern Morocco, or the beaches of the Atlantic coast, Marrakech offers you a dream setting to invest in. Land of natural abundance and cultural wealth, investing in real estate in the ochre city allows you to increase your income sustainably. Combining modernity and traditions, the red city is distinguished by the beauty of its typically oriental and medieval architecture, its Medina, the Jemaa el Fna square classified as a UNESCO World Heritage Site, and its new district the Guéliz.
If you are looking to invest in real estate, the strategic positioning of Marrakech allows you to acquire sumptuous riads at attractive prices, for your holidays, your retirement, or for rental investment. You can rent seasonally and occasionally to tourists, international students, or passing people for business or trade. The strength of the French language is also a significant advantage for French-speaking investors, allowing them to interact with the locals. Morocco has more than 5.4 million international tourists in 2019, with an increase in Italian tourists, followed by French, Spanish, German, Dutch, Belgian, British and American tourists.
Benefiting from a young demographic, and a rich offer of tourist, cultural and sports activities, the ochre city proves to be the ideal city to invest. There are now world and unmissable events such as the Marrakech of laughter, the Grand Prix Automobile, the Marrakech Marathon, or international cups and trophies of golf. The tourism of the Pearl of the South is attracted by the festive atmosphere, the sunny climate, and the beauty of its famous historic districts. The city also offers many outdoor activities, such as golf, quad biking, hot air ballooning, trekking, etc. Whether you are with your family, attracted by a lively nightlife, or motivated by a desire to rejuvenate yourself in nature, Marrakech offers a multitude of animations adapted to all types of tourists. From luxury hotels to affordable seasonal rentals in Moroccan riads and villas, tourists can stay according to their budgets and desires. A secure and stable city, where the police presence is reinforced especially in tourist places.
The fiscal and economic situation is favourable to investors. Morocco is implementing an economic policy that encourages investment. To benefit from it, your tax domicile must be located in Morocco, and you must reside there for more than 183 days per year. Foreign pensioners thus benefit from an 80% reduction in their tax on their pension, if the latter is transferred in dirhams to a Moroccan bank account. In cases where the pension is not transferred, a lump-sum allowance of 55 % on the gross amount of the pension is applied. With a 5-year tax break on turnover earnings and a tax cut for pensioners, the tax advantages are certain!
Accompanied by low labour costs, still affordable real estate prices, economic liberalism, and a stable social, economic and political climate, all factors are together to ensure the success of your real estate investments in Marrakech. By investing there, you benefit from an average cost of living of 46% less than in France. You prefer to build? Marrakech offers you the possibility to build your home by acquiring land. An interesting investment to get a new home at a reduced price, between the attractive purchase price and the cost of a skilled labor at economic rates. Through its tourist and commercial attractiveness, it promotes investments in restaurants, hotels, or the purchase of rental housing, which prove to be a guarantee of profitability.
When investing in a home in Marrakech, you can both benefit from it for yourself, and rent it during your periods of absence. Specialized agencies present on site will be able to manage for you the guarding and cleaning of your accommodation, as well as the delivery of keys to travellers on site. The use of a platform specialized in seasonal rentals is constantly increasing in Marrakech, thus becoming a definite competitor for the hotel industry. Seasonal rentals bring in an average of 150 to 300 euros per day in high season. And the sale of goods starts from 100,000 euros.
To address the significant drop in investments from 2008 to 2018, Morocco has focused on the modernization and development of its infrastructure, the construction of high-end residences on the outskirts of Marrakech, while respecting its natural environment. The electrical networks, telephone, internet, evacuation and water supply systems have been renovated, and are now performing throughout the city. Since 2018, the ochre city attracts trendy tourism. Investors are returning massively, and are thus betting on a modernized metropolis with multiple assets. Many goods are offered for sale. Riads near the Medina, old buildings to renovate, or new villas on the outskirts of Marrakech. Investors who had deserted as a result of economic and political instability, are now enriching the real estate market with many exceptional properties. Rental investment has been on the rise since 2019. This is a good time as purchase costs have not yet risen. Small investors buy mostly seasonal housing. The big investors bet on the purchase of lots of apartments to transform them into tourist residences and guest houses.
Investing in real estate in Marrakech for retirement or to live there implies obtaining a renewable one-year registration card, in case you reside in Morocco for more than 3 months. In case you are retired, and you want to stay less than 3 months, you do not need a tourist visa, the passport is enough. The residence permit valid for 10 years is then obtained after 3 years of stay. Marrakech is a favorite destination for seniors. Spending your retirement in the ochre city makes you dream by its climate, its cultural activities, its warm atmosphere, and the possibility of exchanging in French with the local population.
To learn more about Marrakech before investing, visit the website of the Marrakech Regional Tourism Council.
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