Want to make a shrewd property investment? Head to Morocco

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The popularity of Marrakech as a tourist destination and the shortage of hotel rooms in the city is making it a sought after property investment location with wealthy investors.

Marrakech has been receiving a lot of attention from a large number of investors from around the globe.

Wealthy investors are said to be targeting Marrakech because the city is a fast-growing tourist hotspot.

Nik Kapur, senior consultant at estate agents M2Morocco, said a number of factors have contributed to the rise in property investment in the popular Moroccan city.

According to Mr Kapur, transport links have been improved significantly, as the city has a new train station and airport terminal.

He continued to identify a “steady increase” in the amount of travellers visiting Marrakech.

Each year, an estimated three million traveller’s touch down at the city’s airport, with various airlines including easyJet, British Airways and Iberia all providing a service to the in demand destination.

Real estate investors that currently have homes in Marrakech have invested in a profitable holiday market, Mr Kapur highlighted.

He concluded by stating: "The lack of hotel rooms in the city centre means that there is strong demand for short-term rentals and our investors are achieving healthy yields, as well as expected future capital growth."

A recent report by CBRE, a global leader in real estate services, revealed wealthy investors were also purchasing high end property in Paris, as well as London.

Transferring money to Morocco

If you are looking to invest in Morocco, think carefully about how you will be transferring money to Morocco. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Morocco – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Want to make a shrewd property investment? Head to Morocco

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