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Morocco : luxury property sellers offer a villa in Tangier worth $1.8 million

Villa Nikka, a luxury mansion for sale in Tangier./Ph. New York Times
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Built in 1930, located in Tangier and refurbished by interior designer, Nicolo Baldissera in 2014, the USD 1,8 Million worth Moroccan villa is for sale, as indicated in a New York Times article published on Thursday and entitled «house hunting in Morocco».

The five bedrooms and three floors mansion sits on a 4,090-square-foot lot. As described by the online newspaper the villa has a fountain in its garden, an elevator and a hammam, pool and half-bath on its roof. Located in the Marshan neighborhood near the Forbes Museum of Tangier, the villa Nikka is offered for international buyers by the London based Kensington luxury, a high quality properties sellers.

No doubt that the Nikka villa is to be sold for what accounts for that amount of money. According to the same source, quoting the recent figures issued by Bank Al-Maghrib and the National Land Registry Office, residential housing prices in Morocco «rose 4 percent year over year in the third quarter of 2017». The same thing applies to luxury housing. Speaking to Maud Faujas, the director of the Marrakech office of Emile Garcin, an international real estate agency, told New York Times that «luxury properties, prices are 20 to 30 percent lower than they were in 2008, when they peaked before the global financial crisis», adding that  luxury properties are the ones priced at 1 million Euros and above in Marrakesh and 500,000 Euro and above in Tangier.

Morocco has been a favored destination for international buyers for its safety when compared to neighboring countries. Cities like Tangier, Marrakech and Essaouira are the most wanted for international buyers who are looking to live the authenticity of the Moroccan architecture and home décor.

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