Real estate in Tangier (Morocco)
Tangier is extremely popular with the tourists and the investors since it is bang on the sea and there are a number of stand-alone and other apartments that have been built to provide maximum comfort for the residents. The city has a more European feel than the rest of Morocco. This is one of the biggest reasons why investors want to come here and buy the properties.
Growth Opportunities
The real estate in Tangier is witnessing phenomenal growth especially around the sea cost. A new motorway is also linking Tangier with the rest of Morocco. Additionally, it has a new railway station to ensure good connectivity and transport system. This has led to an increased influx of tourists and the investors to Tangier. Further, the King and his government are emphasizing on making Northern Morocco an upcoming economic zone and Tangier is at the center of that focus. Since Morocco has become a part of the EU, the EU is also funding large infrastructure projects in Morocco. It’s emphasis is on turning back the time when Tangier was one of the most fashionable seaside resorts in Mediterranean.
Location Benefit
Since Tangier is eight miles from Southern Spain, it stands at the cross roads of Europe, Africa and the Middle East. The connectivity of Morocco with the rest of the European countries has also increased immensely as all key flights take only 3-4 hours from the major capital cities of European countries. With a free trade zone, that gives a boost to the foreign investment, Tangier is now experiencing a property boom as well. Investors are been given the best deals in Tangier and are making luxury resorts near the sea. Great restaurants, bars, clubs and apartment blocks are also being built near the sea, giving maximum sea views.
Leisure facilities
Leisure facilities include the Aqua Park, the Royal Tangier Golf Club, fishing, horse riding and exploring the ancient beauty and heritage of Old Tangier. There are also a number of projects that are underway like the Tangier City Center that is being built close to the new railway station. This shows that the city has a lot of potential that is just waiting to be explored. The prices for the property are slated to rise by 30% by the end of this year as the real estate in Tangier is booming. It would do well for the investors to move in as fast as they can.
Buying Procedure
If you wish to buy property in Tangier then you would have to make a holding deposit. This will ensure that the property is taken off the real estate market. The amount can be paid through a bank transfer, credit card and sometimes through a check as well. The investor has 30 days to go ahead, in case they want to change their mind. Once they have made a definite deal, the contract needs to be signed. Then, the balance amount will be paid to the vendor to purchase the property.
Filed Under: About Tangier
