Due to its geographic or linguistic proximity, the sun and a change of scenery, security, the inventiveness of the crafts and the «handmade» that are at the top of trends, exquisite cuisine, and partying, Marrakech has become a popular travel destination for Westerners.
Golf, polo, horseback riding, camel riding, hiking, waky, quads, and motorcycles are examples of outdoor activities. for memorable personal occasions (weddings, birthdays, etc.), or for business and political occasions (incentives, coaching, sporting events, conferences, summits, etc.).
Marrakech is known for its international competitions (WTCR and Formula E at the Marrakech Grand Prix, Polo: Marrakech Polo Patrons Tour, tennis with the only ATP event of the African continent, Judo and a world competition since 2017, the Nomads Run with already 8 editions, for its festivals (Marrakech du Rire or Festival International du Film Marrakech), and for partnering with the most prestigious hotels in Marrakech: La Mamounia, Royal Mansour, Fairmont Royal Palm. In addition, a departure is made from the peculiar and rocky desert of the Agafay Desert, which is located 30 minutes from Marrakech.
Marrakech offers a sophisticated, opulent, trendy, and discreet tourism industry that draws visitors from all over the world.
The Marrakech riads, these wonderful old buildings tucked away at the bend of the streets, arranged around their patio, and these blue-sky squares, in the center of the anthill of the Medina, started to become a “must have” in the early 2000s. So serene and quiet. They make no concessions, the cost of the remodeling is affordable, and the end outcome fulfills a vision.
Since 2000, prices have increased by up to 30 percent annually, spurred by a rise in real estate prices in Europe and the US. Selling their riads, lovely homes, and guest rooms, Moroccans and then visitors profit generously.
Beginning in 2018, the number of buyers for properties in the medina has increased. Riads and luxurious guest rooms are once again in high demand, as are tiny historic homes that need renovation and charming homes that require little to no maintenance.
The trend has been confirmed and strengthened as of late 2018 and early 2019. The market is experiencing a fresh boom as buyers from all over the world return with a range of budgets: the heart of the market is priced between 100,000 and 260,000 euros, but the biggest investors are focusing on guest houses with 8 rooms priced around 1,000,000 euros.
Customers are excited to find their new home and are self-assured, motivated, and passionate. You can choose from a wide variety of regions that are available. Because of the market’s extreme quality, tax optimization is necessary.
That’s advantageous because Morocco offers a variety of economic benefits. To start, there is no wealth tax, so if you are a Moroccan tax resident or if the tax treaty between Morocco and your country is directed at the IFI, you won’t have to pay any. In France, this is not the case. Since it permits a significant number of exemptions and tax reductions, subject to specific requirements, its investment strategy is very intriguing, particularly in the case of retirement.
Examples include the exclusion of the tax on real estate profits and capital gains, a decrease of 2.5 percent in registration costs following the purchase of an immovable and a 50% reduction in corporation tax for the first five years of the fiscal year.
Not to mention, this Moroccan metropolis has numerous free trade agreements with major trading nations, particularly France and African nations. This increases the market’s allure to international investors even further.
For good reason, the Marrakech riads that have recently undergone renovation have enjoyed great success; these are particularly intriguing investments. These residences are, in fact, the type of lodging preferred by travelers in every conceivable way. Consequently, if one does not want to live in Marrakech year-round, a refurbished riad might serve as a secondary home while being rented out periodically to passing tourists when the owner does not want to visit himself.
Not to mention, this Moroccan metropolis has numerous free trade agreements with major trading nations, particularly France and African nations. This increases the market’s allure to international investors even further.
A refurbished riad might easily be converted into a nice guest room if the secondary housing option is not kept.
It’s true that by using rental management, you can hand over management of this guest house to experts who will handle everything from the interview to the reservations, as well as the hiring and supervision of the staff required to welcome the numerous guests who want to stay in a typical Moroccan home.
Regardless of the motivation behind your purchase, however, it is vital to surround oneself carefully in order to achieve it peacefully, so it is preferable to consult industry experts to locate and select your riad. A reputable real estate company with locations and in Marrakech and years of experience,Villas Master Properties. We are a proud team recognized for creativity, dedication, unique skills, and knowledge in a variety of fields, including assisting first-time homebuyers, second homes and/or vacation homes, relocation, investment properties, and much more. Additionally renowned for our excellent client services and satisfying outcomes.
Finally, you will have realized that buying a riad in Marrakech offers several very compelling advantages. There is nothing to worry about in terms of a stable environment, quality clients, and tax advantages. So, will you take advantage of this chance?
