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Posted On: 30/06/2009
Morocco Property a Holiday Home Investors DreamOverseas property specialists Azure Overseas have recommended Tetouan, Morocco for investment in 2009. Rising tourism and low property prices make it, "one of the most promising investment destinations in 2009," according to azure director Frank Crowley, he said:
"Morocco's tourism industry continues to grow as government infrastructure improvements begin to bare fruit -- including the highway linking Tetouan and Tangier. Residents of holiday apartments in Tetouan reported occupancy rates of 95% in the summer of 2008, and all indicators suggest similar levels this year, meaning impressive rental yields are on Tetouan properties.
"Yields improved by the all year round warm climate of Morocco and the excellent golf courses, which give Tetouan properties scope for additional holiday lettings all year round."
Frank went on to talk about the many comparisons between Tetouan and Hurghada in Egypt, where property is also available at very low prices, and massively rising tourism gives property in the area fantastic investment potential, he said:"We have come to compare Tetouan to Hurghada in terms of property investment potential. Prices are higher than property in Egypt but not by much, the climate and terrain are very similar, tourism is rising at a similar pace, and both share similarly increasing accessibility [recently added flight routes]."
Frank said that Egypt property is currently one of their best sellers, with some of the buyers having enquired about Tetouan first, but decided on Egypt following discussions with Azure advisers.
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