Morocco is the closest African country to Europe, being only 9 miles from Southern Spain across the Straits of Gibraltar. This proximity to Europe gives many Northern Moroccan towns a European flavour combined with the African traditions that have shaped Morocco for centuries.
Morocco has been a constitutional monarchy since its independence from France in 1956. An elected government, representing nearly 50 parties, governs the country. To ensure these parties are able to work together in a positive way the king (Mohammed VI) retains more power and authority than, for example, the UK, and he remains the driving force behind many of the strategic developments in the country.
King Mohammed VI is the 3rd king of Morocco since independence, and the first to have been born into an independent Morocco. His European and American education has given him a very open outlook on politics, and he has driven a policy of co-operation with Europe and America since his accession to the throne in 1999. As a result Morocco is the only North African country with "most favoured" status with the European Union, the first country to sign an open skies agreement with the EU, and has signed free trade agreements with the USA, ensuring a strong trade relationship at all levels. Morocco is also benefiting from commercial agreements with many European countries to improve the country's infrastructure.
In addition to its international agreements, Morocco is embarking on many changes to strengthen its economy. One of the major thrusts has been to make use of the country's unspoilt coastline to encourage tourism, both international tourism and internal tourism. As part of these initiatives, announced in 2001 by the king as Vision 2010, property purchase and ownership laws and processes have been brought more into line with European standards, and the concept of residential tourism is being promoted as a key element of the expansion of the sector.
The residential tourism market is being targeted in two streams, the government backed "Plan Azur", and the opening up of private projects. Plan Azur is a government programme to build 6 major coastal resorts, one on the Mediterranean and five on the Atlantic. These projects are for integrated resorts, built around golf and other sporting activities on large stretches of beach. The first resort to be released was Mediterrania Saidia, on the Eastern end of the Moroccan Mediterranean coast. This project was centred around 3 large golf courses, and comprised a wide selection of hotel, apartment and villa accommodation. The apartments and villas have proven very attractive to the international market, and when this resort is opened in summer 2009 it will prove to be the flagship of the Plan Azur programme. The target market for this project is wide. The bulk of properties range from €50,000 to €350,000, with a small number of properties between €750,000 and €1,000,000.
Of the remaining 5 resorts, only 2 are currently on the market, Port Lixus and Mazagan. The remaining 3, Essaouira, Taghazout and Plage Blanche, are still to be launched. With the possible exception of Plage Blanche, whose concept is still to be announced, all the Atlantic resorts are aiming for a more exclusive target market that Mediterania Saidia. Prices on Mazagan, for example, start at € 800,000.
Away from the Plan Azur, many private developers are taking advantage of the market liberalisation and projects are springing up in many locations, mainly coastal but occasionally inland, particularly near Marrakech. The Atlantic coast south of Tangier has been particularly popular, building on the transport links from Europe, both by air and sea, and the high profile already achieved by Tangier as a city. Current projects in this region include Tinja Beach from Emmar, Al Houra from Qatari Diar, Paradise Beach and Seaside Asilah. In Tangier city centre modern tower blocks such as Tangier Boulevard have provided clients with an attractive residential investment while the Mediterranean coast near Tetouan has provided a number of projects with a lower entry price, reflecting the attraction of the two coasts.
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True Mediterranian beachfront apartments under € 150,000
With Saidia approaching its grand opening this summer, a number of large serviced beachfront apartments are currently for sale by owners looking to sell before completion. All these properties are within 50m of the beach, with some offering direct sea views, and others offering south facing golf views.
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