Morocco Property Hailed as Recession Proof Property Investment
Investors in Morocco look set to avoid the global downturn as the country’s economy continues to steam ahead. The country’s index of leading shares (MASI) has risen by more than 13%* since the start of 2008, compared to a fall of more than 11% in the FTSE 100** over the same period. Buying property in Morocco is being hailed as a recession proof real estate investment.
The Moroccan property market has boomed in recent years, fuelled by massive improvements in new roads and motorways and an increasing number of flights. Tourist numbers are set to double to 10 million by 2010 as visitors take advantage of the comparatively low price of property. The country offers incredible value, with beach front properties costing around one third of similar units located just a few miles across the Mediterranean Sea in southern Spain.
* The MASI Free Float Index showed a rise of 13.14% from 31/12/2007 to 02/04/2008.
** The FTSE 100 Index fell by 11.69% from 6456.9 on 31/12/2007 to 5702.1 on 31/03/2008
Source: nubricks.com
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