Buying Property in Morocco - Morocco
How is the property market in Morocco?
- Property in Morocco is approximately one third of the price for comparable builds in Spain. The major cities of Morocco have recorded capital growth of over 30% in the last 3 years.
- In addition, King Mohammed 6th has liberalised the political and tax system - rental income is now exempt from tax for 5 years and no capital gains are paid if the property is sold after 10 years.
What locations are recommended for a property investment?
- It is the major cities where capital growth has been at its highest – most notably, Casblanca, Fes, Marrakech and Tangier.
- Areas along the Mediterranean coast are expected to be the next boom – prices are currently very low.
What taxes do I pay when buying a property in Morocco?
The primary taxes depend upon the type of property are below.
House for habitation - 3 years or more terrain without a building and obligation to build within 7 years:
- Registration fees: 2.5 %
- Notaries tax : 0.5 %
- Funciary conservation :1 %
- Notary’s fee : 2.5 %
- Current funciary conservation (if necessary) : 0.5 % Sundries (fiscal stamps etc.) 1,500 to 3,000 DH
- Ad Valorem rights: 1.5 % up to 50,000 DH + 2 % above this
- Surveyor: 2,500 DH approximately
Offices for commercial use or terrain without obligation to build:
- Registration rights: 5 % (registration rights for the first sale of a commercial property is 2.5%)
- Notaries tax: 0.5 %
- Property registration: 1 %
- Emoluments, fees: %, with a minus of 2.500 DH
- Sundries (fiscal stamps etc.): approx. 2.000 DH
- Foreigners are forbidden to buy agricultural terrain. The only way to legalize this is to change the judiciary status of the land by declaring it to be "non-agricultural" terrain.
How do I fly to Morocco from Europe or the United States?
- To Tangier - twice daily flights are available from Malaga and Casablanca . Daily flights are available from Paris and London.
- To Casablanca - regular flights are available from Heathrow & Gatwick and the large US cities.
- In total 28 scheduled flights per week are available to Morocco from the UK (Manchester, Birmingham, Bristol, Newcastle) and Ireland (Dublin, Cork and Shannon).
What services do Sunshine Estates offer?
Sunshine Estates only work with experienced and professional, local estate agents and developers in Morocco. All partners are fluent in English. We offer a wide range of apartments, villas and traditional riads in the major cities of Casablanca, Fes, Marrakech and Tangier.