Tuesday, April 15, 2008

Morocco: Next 2nd Home Hotspot Abroad?

Hunting for a getaway where mint tea, not a martini, is the drink of choice? jet over to Morocco -- and make it snappy, says both a British real estate website and the Associated Press. The North African kingdom "has become a 'real estate hotspot'" thanks to its good scenery and warm weather. Morocco's vibrancy and diversity" are among the positive features that have made it very popular with 'fashionable and sophisticated' leisure travelers," says the AP. What's hottest? "Marrakech has seen prices quadruple in the last 10 years and prices are continuing to rise about 20% a year," according to the AP. While there are apartments available for as little as$200,000, HomeMove.co.uk cautions that foreign buyers will pay fees that can add up to 13.5% of the purchase price." [Photo copyright Moroccoproperty.org.uk]

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