"Within the Spanish Living group, we've started to look at property around the world – and we've noticed an awful lot of British buyers are interested in very cheap property in Morocco", commented Ailse MacFarlene, marketing director of Spanish Living. "Morocco is how the south of Spain was ten years ago. So you can get apartments from around 15,000 to 20,000 euros."

A recent Knight Frank forecast which reviews house price growth in Europe appears to support the Spanish Living report. The forecast names Morocco as the fourth most profitable investment for 2007, only topped by Lithuania, Latvia and Slovenia. House prices in the country are expected to grow 15 per cent in 2007, as compared with 20 per cent in Lithuania and 7.5 per cent in other so-called 'hot spots' such as Bulgaria, the Czech Republic and Montenegro.

British buyers are already feeling the benefits of investing in a country which overlooks the Mediterranean and yet doesn't break the bank. "Prices in Morocco are substantially lower than those for comparable properties in Spain", said Jim Orr who, together with his wife, purchased two properties in the golf and marina resort Mediterrania-Saidia. "In the eight months since we bought the apartment off-plan, its value has already increased by more than £20,000."

Paul Staines, a partner in Saffron Villas, agreed that the country offers an excellent investment. "First-time buyers – some of them unable to afford a property in the UK – are among those feeling the benefits, with the value of their investments growing before their eyes", he said. "Typically, a buyer who paid £40,000 for a two-bedroom apartment near Tangier six months ago, now owns a property worth around £65,000 and its value will keep rising."

Among the factors contributing to the property boom in Morocco are the growing tourism industry, the increase in high-profile developments and the easy access to the country. "Enquiry levels have been boosted by the new availability of low-cost direct flights to Morocco from firms like Easyjet and Ryanair", said Staines. Ryanair itself also professed to be dedicated to the Vision 2010 programme in Morocco which aims to bring in at least 5,000 more tourists by the time of the Football World Cup in 2010. "They're going to put on 20 new routes from the UK and Ireland to Morocco to bring, hopefully, over a million passengers per year", commented Andy Wellard, spokesman for the Property Showrooms.

And Morocco's strong economy, good investment climate and stable currency spell good news for British buyers, whose investment should be safe from fluctuations. Kate Godfrey of Property Frontier said, "Morocco's infrastructure is rapidly improving and the government is committed to increasing foreign investment and improving the tourism industry. Prices are still low – where a large villa would cost £500,000 in Spain, it's priced at £180,000 outside Tangiers."

The message to British buyers is clear: secure your Moroccan investment before prices rise beyond your reach.

Read the latest World Property Bulletin ezine now FREE

Search and browse property in Morocco

Article published in December 2006