I don't know if any of you guys have noticed the recent crises in the American financial, you can read an this article from cnn.money to get an idea: "fixed-income market condition could be worse than the 1980s stock market fall and Internet bubble burst." [money.cnn.com]
One of the result of the curent crises is that there ist is very diffecult to borrow money, both for private people and big companies i.e. construction companies. My guess is that it will also burst the current housing buble in Morocco, as many of you may have noticed we have also a housing buble in Morocco, where many people have speculated in proporties. I don't know alot about the moroccan proporty investment. What I know is that the prices have mopre than doubled in many areas in in a timespan less than 3 years, wich in may definition is a buble wich can burst anytime. I have many friends and family memebers who also have speculated in proporty investment and I tried to warn them about that they could risk that the curent situation is actually a buble, but they argue that everyone else is making big money and it is stupid to wait because houseprices is constantly rising. Which again in my definition is a true sign of a speculative buble that can burstanytime just like the dot com buble.
Is there anyone in here who knows more about Moroccan proporty investments who can tell me more about the situation in Morocco or even give me some links in english! The only sites in english i have found is owned by greedy agents who whants to sell proporties for naive english people!
I'm no expert but in my opinion the real estate market in Morocc might either crash or at least soften but only in a few years,nothing imminent. The largest foreign market segment for Moroccan real estate is France, not the US so the impact of the slow down of the American economy will be indirect. By the way it is important to note that the real estate industry is bubbling around the world (except in the US and probably Britain), not only in Morocco, take a look at Turkey, Portugal or Eastern Europe and you will see that citizens of rich countries are fleeing to emerging countries to enjoy a better quality of life. Unfortunately although the long term impact is supposed to be positive, the short term is that prices become too expensive for the local population.
If I were you I would by in a "emerging" town like chefchaouen rather than in places like Marrakech where houses are overpriced now. Tangier is also a town with a future if you can find the right deal.
Funny you should mention Tanger, as it is the city where I fear a buble must likely will occure. I don't have any plans in investing in property in Morocco or anyplace lese for that mater, as I mentionen in my first post see a high risk of a global house crash. It is already happening in US, Spain and other places. That is ofcourse short term. I hope people will come to their senses so we can have some realistic house prices again. Many families in Morocco can't afford a house or an apartment.
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