Moroccan Property Still a Hot Investment Tip

The International Monetary Fund is predicting astonishing real GDP growth of 4.4% for Morocco this year. Their faith in the Moroccan economy is echoed by the African Bank for Development who issued a report this week forecasting 5.4% growth for the emerging North African economy of Morocco.

The ABD put the growth down to massive growth in the agriculture sector from bumper harvests due to near perfect rainfall since last year, and steady growth in the construction industry.

This is great news for those who bought Morocco property as an investment last year, when it was hyped as one of the hottest emerging markets.

The overseas property investment firm I was working for at the beginning of last year were marketing Moroccan properties for a short period of time, and I myself was writing about Morocco's investment potential. It is nice to know I won't be left with egg on my face.

I can safely say that about all the countries I recommended, that is because I wouldn't recommend a country if I didn't truly believe in its investment potential. An example of this is when the company director sent me some Dubai properties to do a write-up on at the beginning of last year.

My research into Dubai led me to believe that its days as a good investment destination were numbered, and while the properties would likely sell in record time, our clients wouldn't be very happy when their investment returned a loss, and that therefore I could not write about it positively in good conscience. The company decided that I was right and we did not take on the Dubai development.

Oh how I digress. Last year, I was putting 25% annual growth on high end Moroccan property for the next five years. The international downturn and the exodus of foreign buyers put paid to that.

That said, the continued strong economic growth that Morocco is showing and the fact that the construction industry continues to grow, means that at the lower end of the scale prices are still growing, and that completed high end properties are still selling if a low slower than they were last year.

With that in mind: in 3 years, when the international downturn is safely tucked away in the history books under N for nightmare, it is a safe bet that growth on the higher end properties in Morocco will once again grow rapidly in value, and we will start to see new developments and strong off plan sales.

All in all, this could easily be a part of my where would I invest series, because I would certainly invest in Morocco property.