Why buy in Morocco

• There are no restrictions on buying property for sale in Morocco
• There is no formal property survey system - employing a qualified surveyor to look over older Moroccan properties is advisable
• The buying process in Morocco mirrors that of France - where a notary represents the buyer and the seller. Buyers should employ the services of an independent lawyer to check deeds and contract before signing
• Freehold property has to be registered with the Land Registry
• Property buying costs amount to around 8% of the purchase price
• VAT is currently 14% on Morocco property purchases but can often be included within the purchase price – it is advisable to check
• There is an initial five-year "tax holiday" when letting out your property in Morocco
• CGT is currently set at 20% the first five years, reduced to 10% for the following five year period, with a subsequent nil-band rating for 10+ years ownership
• Mortgages are available for a maximum of 60% of the purchase price of a Moroccan property. Mortgage terms can be up to 20 years with interest rates of around 6-7%. (Subject to status)

Morocco is one of the more accessible countries of Africa, just 14km from mainland Spain at the closest point, the country itself varies enormously from lush green areas, sandy beaches, mountains and deserts, a magical country which conjures up thoughts of medina's, mosques, souks, bazaars and back flipping acrobats, snake charmers, exotic spices and sweet mint tea. In Morocco, tourism has grown by more than 18 per cent over the last year, giving it the fourth largest number of foreign visitors in the whole of Africa after South Africa, Tunisia and Egypt, the young and innovative King Mohammed VI has been very keen to see this trend continue onwards and upwards.

The Buying Procedure and taxation in Morocco

Buying a property can be daunting if you are not fully aware of the process. This includes taxation in Morocco, and the amount can vary depending on the property and the time spent living in that property. Escapes2.com have developed a guide to the buying process in Morocco, including a guide to taxes in Morocco.