A survey of the top ten countries that overseas property investors find most appealing in 2008, has recently been conducted by real estate investment magazine, Jet-to-Let.
Morocco Property: Sitting Pretty
The survey was carried out to gauge investor intentions in 2008. The survey involved the sampling of a thousand new subscribers to their quarterly magazine.
Jet-to-Let conducted a similar survey last year and the comparison shows that there is a continued shift away from the British buy-to-let market towards overseas property investments.
More than 50% of those surveyed indicated that they would invest in an overseas property within the next 2 years, with just under 36% saying they intend to buy a property abroad in the next 12 months.
Cyprus, somewhat surprisingly, was the number one country in the survey. It would seem that the chronic drought which has lasted for nearly 2 years and has necessitated water being shipped in from mainland Greece has failed to dent investor confidence.
Perhaps less surprising is that former favoured destinations of Bulgaria and Poland have slipped out of the top ten. This could be because they are no longer regarded as the bargain basement countries they once were; the strength of the euro over sterling hasn’t helped in this respect.
The survey results bring encouraging news for investors in Moroccan property, with the country remaining firmly in the top ten for a second consecutive year. This finding ties in with recent statistics that show that Morocco continues to attract record numbers of visitors which in itself, augers well for those buying properties in Morocco with a view to letting them out to the expanding tourist market.
Overall, the survey indicates that interest in overseas property investment shows no sign of waning. This continuing trend is being boosted in part by Britain’s inflated housing market and the decline in returns from the domestic buy-to-let sector, compared to healthy returns in overseas investment arenas.
Reacting to the survey, Sales Manager of Morocco specialists Moroccan Sands, Tom Browning, said: “The ongoing demand for Moroccan property, particularly the interest shown in spectacular new developments such as Emaar Tinja and the sumptuous Al Houara Resort which are both close to Tangier, shows no signs of abating”. He added: “I am confident that if this pattern continues, Morocco will easily top the list in next year’s survey”.