Morocco Property Buyers Guide

Morocco sits just 14 kilometers from the shores of Southern Spain and is very easily accessible.  Its progressive government is making Morocco a truly viable place in which to own property.

For many, Spain’s comparatively high prices and overcrowded resorts are making exotic Morocco the ideal choice.  Property in Morocco remains wonderfully cheap and ripe for investment, with property prices having trebled in the past 5 years.

The buying process is much the same as in Spain or France and obtaining expert advice over any possible pitfalls is relatively simple.  There are already many French home owners present, a fact which continues reassure other European buyers.
Property purchase is straightforward and Morocco is well set up to receive overseas buyers.

The Process

Local agents, or ‘Simsaars’ assist in finding you a property. A good simsaar will know which properties already have clear ownership which avoids any legal wrangles. A simsaar will charge 2.5% of the purchase price at completion and many of them work solely for commission.

• Find a suitable property in the right location.  You could seek an architect or structural engineer to take a careful look.  An inspection and report normally costs 500 to 700 Dirhams (approx. € 60).

• Pay a deposit of approx. 10% of the purchase price.  Note: the vendor can still sell to somebody else if they offer more money for the property. They are then obliged to return your deposit in full.  However, if you pay a further 20-30% of the purchase price with the 10% deposit you will secure the property as yours.

• Wait 6 – 8  weeks while searches are done on the property.

• Sign the purchase contract at the Notary office, in person or appoint a power of attorney.
Finally, change the lock!  It is likely that a number of people have the key. It's also strongly recommended to have someone stay in the property at night if you are not there. You can hire a guardian for about 1,000 DH (€ 100) per month, but be certain this is someone you can trust.

The Notary

The Notary performs a similar role to those in France or Spain.  They check there are no debts due on the property, that paperwork is in order and in Morocco, unlike France and Spain, the Notary actually creates and signs all the papers.

Notaries do not represent either the seller or the buyer so there is never any conflict of interest. Their fees are up to 1% of the total costs.

Mortgages

Mortgages are available in Morocco, but the most an overseas buyer can get is 50% of the valuation price. The purchase can be paid in either Euros, US Dollars or Sterling, and needs to be transferred from a foreign account into a Moroccan bank, where the transaction is processed into Dirhams.

Titles & Deeds

Older properties in Morocco often have no deeds as such, but rather historic scrolls which document ownership, often detailing centuries of ownership. You could create an official deed and title by paying an additional fee of 1% to the notary during the transaction process.

An official title on a property ensures that banks will allow mortgages and any future re-sale can fetch a higher price with the presence of deeds.  New properties tend to have existing deeds.

Inheritance Law

Be aware that inheritance laws in Morocco can confuse the process of purchasing property.  Each person with a claim to a property must give the go-ahead for a sale. A local simsaar will deal with all the legalities that may arise from this, but the process can be lengthy.

Tax Considerations

The Moroccan tax system is based on the French model. Any capital gains from rentals are subject to annual Personal Income Tax at 15%, although an owner is exempt from this for the first 3 years of ownership. Property taxes are based on the property’s annual rental value with a 75% discount if the property is your permanent home or regular holiday destination.

Family members are exempt from Inheritance Tax, but a buyer must ensure they enlist local, professional expertise to draw up a Moroccan will, which does not revoke their existing one.

Legal Fees

Legal fees should set you back around 6 %, much less than the 10 to 15% in France and Spain.  However, they may rise to 10% if building work needs to be done on the property.

Areas

One of the arrival ports to Morocco is Tangier.  It was traditionally a truly cosmopolitan and fashionable haunt in the 1950s to 1970s amongst French and Spanish tourists and residents alike.

With its return to Moroccon rule, it has changed vastly into the rather tatty and undesirable port city it is today.

However Tangier will reduce its industrial intake of freight, redirecting it to the new Golden Mediterranean port being built between Tangier and Tetouan.

Meanwhile, the major property areas offering the widest choice of property are located around Tangier, along the Atlantic and the Mediterranean coasts.  Tangier is only 35 minutes hydrofoil ride from mainland Spain. It is near to the Atlantic coast resorts and, in time, is predicted to return to its exclusive former status.

New developments are going up along the Atlantic coast, offering good value for money, while infrastructures such as road and rail links are constantly improving.

Inland areas such as Marrakesh and Fez are already very cosmopolitan and popular.  Properties are high in demand and more expensive than in other areas.
Riads (old traditional houses set around a courtyard) are to be found in most cities and still represent realistic prices, whilst some may need some tender, loving care or renovation.

Morocco – Investment Potential is Sky Rocketing

For those of us who are a little tired of today’s mass development on the Costa del Sol, Morocco, only just across the water, could prove to be the perfect solution.

Offering respite from overcrowded roads and busy summer periods in Southern Spain, Morocco is currently supplying a demand for fresh investments within a fast growing market.  Conservative estimates of 15% growth per annum for the next 5 years and double digit yields are really possible.

Location and Access

Morocco is just 3 hours flight time from the UK.

Situated in North Africa and literally only a stone’s throw away (actually,  10 km!) from Spain’s southernmost tip, at Tarifa, Morocco is easily accessed from Spain.  Catch a car ferry or high speed catamaran from the ports of Algeciras or Tarifa, and within 35 minutes you will find yourself at Tangier, the gateway to you’re an exciting new world.

Changes to the Infrastructure

• A huge port is being built between Tangier and Tetouan and this will be called the Golden Mediterranean, taking heavy freight away from Tangier port and making Tangier into a desirable tourist destination.
• Roads will be improved and a new motorway between Tangier and Tetouan is being built,
• Tetouan airport will be upgraded and a new airport built in Tangier.
• The “Open Skies Agreement” has attracted many of the major airlines (Monarch, Ryan Air and Easy Jet) to Tangier and Tetouan airports.
• Great offers are being offered shortly by Gibraltar Airways, Thompson and Atlas Blue to Tangier.
• Royal Air Maroc will increase its fleet by 50% in 2007.
• An excellent new train station has been built by the French in Tangier
• Planned rail tunnel under the Straits of Gibraltar to link Spain to Morocco in 2008

The new port is earmarked as the main hub into Africa, with good road links being built around it. The Americans have been given the contract to manage this port for the next five years, bringing American workers into the area.

Greatly increased flights will attract a growing number of visitors:

Gibraltar Airways (GB), part of BA, have just announced that it will fly to Tangier shortly for 169 pounds return. Thompson have also promised flights to Agadir for only 29 pounds each way. Atlas Blue currently flies to Morocco for 60 pounds return.

These deals will accelerate in 2006, while Morocco is still an untested market for the budget airlines. These new deals will undoubtedly put pressure on the flag carrier.

Tetouan, about 1 hours drive west of Tangier, has an international airport that is little used.  The large hotel groups, Club Med, Sofitel, Accor in the area have been lobbying the Governor to open it up more regularly, as it is currently used for internal flights only.

Car hire at the moment in Morocco is expensive but this should change when the bucket airline business to Morocco gets established.

Constitution and History

As if the vastly improved communications to the country are not enough, Morocco continues to manifest its forward-thinking policies for economic growth and international recognition through the new King Mohammed VI, who came to power in July 1999.

Mohammed VI is a reformist and a moderniser.  He has set about bettering links with the Western World and improving its human rights issues, as well as laws on corruption and religious extremism, whist introducing more equality to women.  Consequently Morocco is fast becoming the most “Western” of all Muslim countries.

With a huge investment of 5bn dollars, another key reform has been the Plan Azur, which has improved tourism and greatly increased employment figures. In a brief outline, the Plan Azur increased tourism to 2.5m in 2001 and estimates over 10m in 2010.   In 2004 figures reached around 5.6m.

After 6 years of power, Morocco has gained credibility as a suitable investment prospect.   It has low inflation (1.9% in 2005) and a stable currency, the Dirham.  The currency is not fully exchangeable outside Morocco but is worth around 16 to the £ and at 11 to the Euro it moves very much in line with the Euro.

At only 42 years of age, the King was once an international standard golfer.  He was educated in Europe and spent time in America and France.   He studied law and wrote a number of prominent articles regarding the North Africa MAGREB, Morocco, Algeria and Tunisia.

In the past century, the power in Morocco changed hands a number of times, being divided between Spain, France and Britain.  Along with centuries of Moorish and Berber culture, Morocco today has a very interesting mix of old and new.

Morocco maintains strong ties with Spain that retains a number of enclaves, much like British Gibraltar, at Ceuta, Melilla, Peñon de Velez de la Gomera and Peñon de Alhucemas.  

Links are also close with France with Morocco, being the third most popular holiday destination for the French.   The legal system, along with the education system, is modelled around the French system.
 
Morocco has good relations and strong links with the UK and America who receive much of its textiles and manufacturing goods. M & S receive around 30% cent of its knitwear from Morocco.

Investing in Property

There are no laws or complications that would stop foreigners investing in property or land and the legal system is based on the French system with notaries doing much of the administration, particularly in matters of land and property purchase.   Legal fees would set you back around 5 %, much less than the 10 to 15% in France and Spain.

The major property areas offering the widest choice of property are located around Tangier on the northwest tip, Casablanca on the Atlantic coast and inland at the very cosmopolitan Marrakesh.
Inland and the Atlantic coast have fairly established tourist resorts and therefore property prices tend to be higher than in lesser known areas.  New developments are going up along the Atlantic coast, offering value for money.  Riads (old traditional houses set around a courtyard) are to be found in most cities and still represent realistic prices, whilst some may need some tender, loving care or major renovation.

Value for money and peaceful living in the beautiful Morocco

These days, it is becoming increasingly fashionable to buy property in Morocco. Morocco has a lot to offer in terms of property sale in areas such as Mediterrania Saidia , Asilah   , Tangiers  , Marrakech , Tetouan   and Agadir

But because of the desirability of property for sale in Morocco an investor should not be deterred from securing their ideal piece of real estate just because purchasing it can take many months and a great deal of paperwork because there are many agencies that can help you do everything for you while you sit back and relax.

The key to successfully navigating the real estate purchase process in Morocco is seeking the assistance of a recommended real estate agent or simsaar.  These people have a local working knowledge of the property market in the particular part of Morocco in which they work and they are often able to shield the buyer from paying over the market price by understanding the true value of properties for sale.  There are quite a few, but Qudoo.com is one of the best you can get to ensure a smooth and beneficial deal.

As with many emerging markets property investors who broadcast the fact that they are in the market for real estate will often find that the places they’re offered for sale suddenly go up in price – with the help of a good simsaar the foreign buyer will pay the same as a local buyer in Morocco.  A simsaar will usually charge two and a half percent of the property’s purchase price in fees and some charge a daily rate which can be deducted from this fee.  The amount of time and money they can save an investor means that they are well worth their commission.

However, because these agents often speak little English or French it is usually necessary to have a translator as well and a cautious approach should be taken when finding a translator, real estate agent and solicitor in Morocco.  The Moroccan people are keen to attract foreign investment and the majority of professionals an investor will deal with will be happy to genuinely assist – but as the saying goes, ‘buyer beware’ when employing anyone to assist with the buying process in any country in the world!

It’s highly likely that an investor will have a great deal of choice in Morocco particularly if they’re interested in older properties and those in need of renovation.  It’s a good idea to take a camera and a notepad when examining properties because after a few days it’s easy to forget which pieces of real estate had which features!  Once an ideal property has been found it’s usual to make an offer to buy and to negotiate on the asking price.  Once an offer has been accepted a deposit of around 10% can be paid.  The deposit or arbon should secure the property and remove it from the market place.  But unfortunately the reality is that it’s wise to close the sale at the time the price is agreed upon otherwise if the vendor is offered more money before the sale is closed they may well take it and return the investor’s deposit to them.

There is one small problem with this approach – by officially closing the sale the taxes should be due within 30 days.  BUT if you pay the taxes the sale really is closed and the buyer can refuse to move out which in the worst case scenario results in a five year legal battle to have them evicted.  So what most buyers do is hold back on paying the taxes, incur a small fine but save themselves the trouble of having deeds transferred into their name and running the risk of having sitting tenants!

This may sound confusing but with the help of a decent lawyer all of this is transparent to the property purchaser.  Those buying brand new or off plan property in Morocco of course avoid all of these issues.

An investor looking at Morocco Property should budget an additional 7 or 8% on top of the purchase price for fees and taxes.  As stated the real estate agent will charge about 2.5%, the notaire or public notary will charge 1% to sort out title deeds on older properties - a process that can take up to 2 years after the sale has completed but which will result in the property being worth more in the long run as all subsequent buyers will avoid having to repeat the process – and finally there’s also a small amount of tax on the purchase price on Investment Property Morocco which pays for itself when you consider the benefits of living in a charming and culturally rich country that has a lot to offer in terms of value for money and a peaceful living

Tagines From Morocco Find Their Way To Us Dinner Tables And Kitchens

Tagines is one of the popular North African dishes consumed mostly in Algeria, Morocco, and Tunisia. Also known as Tajine or mispronounced Tangines, this North African specialty has traveled all the way across the Atlantic to the kitchens in the US. Moroccan tagines are being served increasingly in specialty food or fast food restaurants all across the United States and has become quite popular.

Tagines are not just the name of the food but also the pot in which they are cooked. Tagine pots are made purely from terra cotta and have a shallow rimmed base. The lid of the tagines is usually conical in shape. The bottom of the pot is always glazed from the inside and this is where it comes in direct contact with the stew or food. The top part of the Moroccan tagines is glazed from the outside, so that it can assist in evaporation of the steam. As a result, the stew or food gets absorbed into the clay and the juice or gravy becomes more concentrated in nature.

There are always potters who try and make newer version of tagines especially the ones having glazed lids from the inside as well as outside. Each of the Moroccan tagines has a small steam outlet, and chefs preparing the dish more often than not poke a thyme sprig or a mint sprig. There are two types of tagines – one that is made from terra cotta and one that has been made using enameled cast iron. The latter is not as effective as the terra cotta one.

A visit to the Moroccan or Tunisian countryside will provide you glimpses of tagines simmering on small charcoal burners in street cafes or restaurants. In North Africa, tagines are never kept in the oven; it is always kept on the stove. I one of the coastal Moroccan cities especially in Meknes, you can find one of the most diverse tagine menu with as many as 20 dishes comprising of variety of vegetables, combined with meat, eggs, sausages, etc.

The most popular and commonly eaten tagines is made using a whole chicken, with preserved lemons and olives. Sometimes the chicken is replaced by lamb, and it is combined with eggs and prunes. This preparation is quite similar to one of the tagine dishes served at the Andalous Moroccan Restaurant in Chicago. The restaurant is quite famous for its diverse offering of tagines and has around 11 varieties on the menu. They use mostly lamb, chicken, seafood and beef. Onions, preserved lemon, dry fruits, sesame seeds, nuts, eggs, peppers, tomatoes, and olives are added to the tagines apart from the usual seasonings that include cinnamon, paprika, cumin, saffron and cilantro among others. One major difference between North African or Moroccan tagines and American tagines is that the former use clarified butter called “smen” while in America; only olive oil is used for preparation.

Some of the other restaurants that offer variety of tagines on their menu include L'Olive in Chicago, The Lite Touch in New York, and Oasis in Los Angeles and Mogador in New York. Perry's in Washington offers a unique tagine dish that comprises of lamb with medjool dates and pine nut couscous. Cafe Le Coq in Chicago is famous for their roasted vegetable tagines. Many restaurants offer a variety of lamb tagines including Shallots, Chicago, which is a kosher restaurant offering lamb tagine couscous with dry Mediterranean fruits.

American chefs have in a way mastered the art of mixing tagines with couscous. If you visit, Morocco or Tunisia then you will find tagine being served as a separate dish and couscous is served as a separate steamed dish. Moroccan tagines as well as couscous are often served harissa, which is a chili-based condiment, and it is exclusive to Algerian and Tunisian tagines.

Tagines have gone through different types of experimentation processes and restaurants like Zibibo in California offer an olive-marinated guinea hen with tomato tagine, mint, chickpea, and harissa. At the Marseille restaurant in New York, you will find duck tagine on the menu that comes with almonds, honey, and currants. Enrico's in San Francisco has completely changed the very essence of tagines by serving a sauce moistened with pan-roasted seafood, seasonal vegetables and saffron couscous. Having traveled across the Atlantic, Moroccan tagines look great on the menu but there are only a few who can serve authentic tagine. The best place to taste the spicy flavors of tagines is in Morocco or Tunisia but you can even visit some of the authentic Moroccan cuisine restaurants in Chicago or New York to get a feel of the real taste.

The power of Moroccan cuisine

The power of Moroccan cuisine

Moroccan cuisine is considered one of the most prominent cuisines in the world, as it has an international dimension, because of its richness and variety. Moroccan cuisine is the result of many influences, including European, Amazigh Berbers, Arabs, Moors, etc. In this article, I will focus on what is specific to Moroccan cuisine and I will quote some Moroccan dishes, cakes, and certain types of bread.

What are the specifics of Moroccan cuisine?
Moroccan cuisine is very famous, especially because the Moroccan people rely on natural sources.
Firstly, it should be noted that the majority of Moroccans use natural oils such as olive oil and argan, which can not be found in any place in the world oil. In addition, the use of spices such as salt and pepper, ginger, turmeric, saffron, paprika, cumin, cinnamon and white pepper is essential to Moroccan cuisine.

In addition, Moroccan prefer to use natural herbs and aromatic plants such as onions, garlic, basil, parsley, green coriander, marjoram, mint, verbena and gray za'atar especially with tea and decoration.

Moroccan cuisine also uses different kinds of meat: chicken, lamb, goat meat, beef, camel, etc. In addition, the geographical position with Morocco, there is a wide variety of fish that plays an important role in Moroccan cuisine and Moroccans gives a chance to concoct many meals in which the fish is the most important element.

What are the most famous Moroccan meal?
In Morocco, you will have the chance to enjoy meals:
First, we couscous, which is one of the most famous Moroccan meal. It is the favorite of the majority of Moroccans lunch and Friday night of Ashura (one month after the "help al adha") meal.

There are many kinds of couscous. For example, there is the couscous with seven vegetables couscous with kourdass, sweet couscous or SEFFA, etc. In addition, the traditional Moroccan tagine can be prepared with fish or different types of meat (chicken, lamb, goat, beef and camel ) or vegetables. Adding to that, there are many other Moroccan dishes like attanjya, pastilla, baddaz, skewers, etc.

Some types of traditional Moroccan bread
There are very different types of traditional bread in Morocco. The best known is the Tafarnout bread, which is prepared in conventional manner using a conventional oven that is built from clay. But there are also many other kinds of Moroccan bread, namely r'ghayef the mlawi the harcha the Batbot, etc.

Some famous Moroccan cakes
In Morocco, you can enjoy different cakes and sweets, as briouat, which consists of a puff pastry stuffed with almonds and flavored with rose water. We also have kaab el ghouzal or "gazelle horn", which is prepared with the kind of puff pastry with almonds. There are many other cakes, as fekkas el, the ghroueyba, e'chebbakya, el bahlawa, etc., whose main ingredients are almonds and walnuts, orange blossom water, honey and sesame .

4 Must-Try restaurants in Boracay

4 Must-Try restaurants in Boracay

It is not surprising to Boracay for inclusion in the popular holiday choice of local and foreign tourists. The island is considered one of the treasures of the Philippines, is stained resorts and entertainment bars for all types of tourists. In addition to its water activities and the white sands of the beach first Boracay, one of the best things that can spice up your holiday experience is the food. Here are the top four restaurants you should not miss in Boracay

True Food Indian Cuisine

If you have a talent for authentic Indian food, True Food Indian Cuisine is your first choice. The restaurant offers a warm atmosphere for breakfast, lunch-outs, snacks or even dinner. The best Indian meal you can enjoy here are Maseha Tare Ko, mushrooms Dopalza and Chana Dal Ki. Are you a meat lover? In this case, you can choose the popular Tundori chicken. Food prices range from 200 to 500 pesos, taxes included.

True Food Indian Cuisine is located at Station 2, near White Beach. It is impossible to miss this very popular Indian restaurant.

Back Métis

Boracay Island is an old piece of land, surrounded by the serenity of the ocean waves. During the early development of the island, there were a couple of restaurants pioneers who attracted many tourists. Métis back is one of those restaurants that began as an institution of hole-in-the-wall. As time passed, Dos Métis became more and more popular.

Back Métis specializes in manufacturing delicious Spanish cuisine. Among the favorites are Paella Crustaceans, Boquerones, marinated anchovies, Spanish and Valencia. Back Metis is located at Calle Remedios, Sitio Manggayad.

Smoke Resto

Smoke Resto is a favorite Filipino well defined. If you want Filipino food cooked at home, this is the pit stop for you. You can buy the famous Filipino Bulalo for only 260 pesos and salpicão beef for 120 pesos. Kao Pad Resto smoke, also known as Bagoong Rice, is available for only 140 pesos.

Fume Bistro is located at D'Mall in Station 2, White Beach. As it is a popular Filipino restaurant, just ask around directions.

Kasbah

Original Moroccan cuisine is the specialty of the Kasbah, a popular restaurant located at station 1. Aside from the kitchen, you can also indulge in Moroccan culture of the restaurant with your friends and family. Bestsellers of the Kasbah are Kemiah, kebabs, lamb tagine with vegetables and lamb stew with Moroccan spices.

After dinner, you can enjoy a refreshing drink tea Moroccan mint well known. A budget of 1,000 pesos above is enough to enjoy the pleasures offered by the Kasbah.

Before having a reservation for a hotel in Boracay, it is advisable to create a list of restaurants you plan to visit. If you are looking for a property in Boracay, be sure to choose a location that is close to your favorite restaurant, you do not want to travel far just to enjoy the foods you love, right?