Tourism numbers to Morocco continue to climb and for many visitors Tangier is the first point of entry. This is good news for Morocco in general and even better news for investors in Tangier (Tanger) property; with increasing visitor levels, owners of properties in Tangier are ideally placed to take advantage of the well documented, chronic shortage of hotel accommodation in the city.
Tangier: scenting success
Tangier property investors on buy-to-let strategies can benefit from the combination of lack of hotel beds and surge in tourism. Currently, Tangier properties can command €58 per night (for a one bedroom city centre apartment) during peak season. Cosmopolitan Tangier is also the place where northern Morocco’s business elite aspire to live. This bodes well for owners preferring long term lettings.
Moroccan Sands have a number of excellent Tangier real estate developments which are beautifully positioned to appeal to both buy-to-let strategists and perhaps more pertinently, tourists looking for attractive Tangier holiday accommodation. Apartments such as La Vision from £65,031 (93,153 Euros), with exceptional payment terms of: 30% on PPC then nothing to pay until end 2009 - when the 70% balance is paid on completion.
Another development which pushes all the right buttons is Tangier Boulevard: Completion June 2010. Payment terms: 20% / 10% / 70% (mortgages available). Prices from £56,000 / €70,000 (Euros). Tangier Boulevard is situated in the heart of this city’s tourist zone and affords fantastic views over the city to the port which is soon to be developed into a luxury marina.