|
INTRODUCTION
Marrakech has long been a popular choice with Franch and Spanish property Investors, looking for a special holiday home for income generation. Now the rest of Europe is catching on.
Since the arrival of low cost airlines. Marrakech has gained in popularity as a tourist destination. The online travel website Opodo recently named Morocco as third in its top ten destinations for 2007.
Marrakech is also a symbol of the Morocco that once was, and which still survives here. The streets of the old and pink city have been too narrow to allow the introduction of cars, and tourists searching for the "real" Morocco have turned the medieval structures of Marrakech into good business.
The hordes of tourists that come here all through the year have still not managed to change its character. Actually their high number contribute in a positive way to preserve one of the greatest monuments of the Morocco that once was. And the people of Marrakech love their city even more.
Marrakesh is above all a city of drama. Its spectacular setting against the snow-capped High Atlas Mountains lingers long in the minds of most travellers, and the famous Jemma el-Fna square provides perhaps the greatest open-air spectacle in the world. Be drawn back into a world of frenzied motion, where jugglers and storytellers jostle for position with snake charmers, magicians and acrobats. Your nose will guide you to row upon row of open-air food stalls whose pungent smoke fills the air with mouth-watering aromas.
FINANCIALS
A luxury apartment in the heart of Marrakech, a common sense investment
1 Bedroom from 1,555,400 MAD (₤93.635)*
2 Bedroom from 2,443,980 MAD (₤147,128)*
3 bedroom duplex with private swimming pool from 4,030,026 MAD (₤242,609)*
Capital commitment 40%
6% net guaranteed rental return (from ₤5,616 pa)
Up to 70% LTV mortgages available
INVESTMENT BRIEF
Net 2 Year rental return 6%
Rental Income Tax 0%
Capital Commitment 40%
Capital Growth 20 – 25%
C.G.Tax from 0% - 20%
Inheritance Tax 0%
Repatriation of funds 100%
Payment terms 3,000 euros holding deposit
40% on private contract (within 4/6 weeks) from ₤35,452 approx
60% on completion (March 2009 approx)
Stamp Duty, Lawyers fees, Notary fees, Land registry fees, approximately 7% of purchase price
VAT is included in the purchase price.
*Properties are purchased in Moroccan Dirhams.
Currency fluctuation at the time of purchase may
increase or decrease the sterling price quoted
MARRAKECH INVESTMENT BRIEF
Property priced at 40% - 60% lower than many major cities in Europe, with possibly the most favourable tax laws.
• All new properties in Morocco have to be signed off as completed by a Notaire before you money is passed to the developer, thus guaranteeing your investment funds.
• Property Tax: Exempt for 5 years
• Rental Income: Tax exempt for 5 years
• Capital Gains Tax: None if the property is sold after 10 years, 10% of the profit if sold within 5 – 10 years, 20% of the profit if sold within 5 years
• No capital gains tax on the first ₤40K
• 100% repatriation of funds including profit (subject to CGT)
• No inheritance tax if passed onto a family member
• Dual Tax treaty with the UK
|
