Investing in Taghazout, Morocco, can be an attractive opportunity, especially with the rise of surf tourism and the continued development of the region. However, as with any investment abroad, it is crucial to learn upstream. Here is a file that will help you understand the main aspects to consider before investing in Taghazout.
1. General context of Taghazout:
a. History and evolution: Once a small fishing village, Taghazout has become a hotspot for surfers and tourists.
b. Tourism and development: In recent years, Taghazout has experienced rapid development thanks to projects such as Taghazout Bay.
2. Legal and fiscal framework:
a. Property rights: Morocco is relatively open to foreigners wishing to buy real estate, but it is essential to understand the differences between "land title" and "melkia" for example.
b. Taxation: Learn about local taxes, housing tax, and taxation of rental income if you are considering renting.
c. Investment Restrictions: Some areas may be restricted or require special permits for foreigners.
3. Economic aspects:
a. Real estate market: The study of price and demand trends is crucial.
b. Rental potential: As Taghazout is a popular destination for surfers, there may be a market for short term rentals.
4. Social and cultural aspects:
a. Local Integration: Respect and understand local customs and traditions to facilitate your integration and that of your project.
b. Language: Even if French is widely spoken, having some knowledge of Arabic or Berber can be a plus.
5. Practical aspects:
a. Access and transport: The proximity to Agadir and its airport makes Taghazout easily accessible.
b. Local services: Find out about the facilities available: hospitals, banks, grocery stores, etc.
c. Climate and environmental change: Sea-level rise, erosion and other environmental factors may affect coastal properties.
6. Advice before investment:
a. Visit several times: Never buy a property on a whim. Visit several times at different times of the year.
b. Consult a local lawyer: This is essential to understand all the nuances of the law and ensure that all documents are in order.
c. Research the market: Consult several real estate agents and compare offers.
d. Plan for the long term: Think about your long term goals for this investment. Do you wish to resell, lease or use the property as a second home?
In conclusion, investing in Taghazout may offer lucrative opportunities, but it is essential to do one's homework. A thorough understanding of the market, local context and legal framework is critical to ensuring the success of your investment.