December 31, 2004
Investors making for Morocco
According to property experts, Bulgaria, Romania, and Morocco are emerging as potential real estate and property hotspots in Europe. Even if Spain is the number one destination for investors in purchasing property beyond their homelands, it could suffer some setbacks based on its present state of saturation. Along with the increasing strength of the Euro, one real estate expert suggested that it can take as long as two years to sell Spanish homes (based on reports from Reuters).
By contrast, a 40% increase in hotel occupancy over the skiing season has prompted investors to look at Bulgaria as the next best place to invest in property abroad. According to Rupert Lee-Browne, spokesman for currency exchange specialist Caxton FX, “Bulgaria is definitely on the radar with buyers at the moment. Fifty per cent more of our clients are moving money there compared to last year.”
Posted on: Morocco
Morocco: an investment spot
Morocco, along other east European countries such Bulgaria and Romania, is competing for the top tourist and property spot occupied by Spain. What has made Spain a hit in the real estate market is the fact that its warm weather is a magnet for Europeans residing in countries where the sun and shine does not happen that often. Regardless of that, Spain is already experiencing saturation in its property market.
Enter Bulgaria, Romania and Morocco. Emerging properties in the industry. Property experts say that Bulgaria’s ski resorts are beginning to be competitive as hotel occupancies in snow-capped locations have increased by 40%. If Spain is the option for the warm and sunny season, Bulgaria is not far behind in covering the winter season occupancy. The same is true for Romania.
Posted on: Morocco
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