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Buying property in Morocco | FAQs

Answering questions about the main issues of buying a property in Morocco.

Do I need a solicitor?

This is absolutely essential so that your rights are properly protected. We can put you in touch with local solicitors who will advise you on all aspects of property purchase.

We also have sourced UK based International Property lawyers that would be able to check that everything is done in your best interest.

Can I get a mortgage in Morocco?

Yes. You can apply for mortgage for up to 60% of the value. In Morocco, mortgages are repayment only with a maximum term of 10 years. Right now, rates are starting from approximately 5%.

We have a relationship with BMCI (Banque Marocaine du Commerce et de l'Industrie), where we can offer stage payment mortgages.

Do I need a Moroccan bank account?

Yes. Bank accounts for non resident foreigners are "convertible accounts", this means that they can only pay in foreign currency, i.e. Euro, Sterling, Dollar...

What is the local currency?

The Dirham. All transactions are calculated in Euros but they are only estimates. The fixed price is in Dirham (MAD)

How can I secure a property?

Should you decide to purchase one of the Villas in Apple Gardens, you will have to transfer a refundable €5,000 administration fee that will be reimbursed to you as soon as the 1st contract will be signed in front of the notaire.

Can I rent my property?

The benefits of an excellent climate plus the superb location and facilities of Marrakesh ensure your property offers lucrative rental potential all year round. There’s even a tax incentive. As an owner, any rental fees you receive during the first 5 years are income tax-exempt.

What ongoing costs can I expect?

There is a co-ownership charge of approx. €2,000 a year that covers most aspects of the maintaining your property (subject to contract).

What Capital Gains Tax regulations are there?

If you sell your property within five years of purchase, you will pay Capital Gains Tax of 20% of the profit or a minimum of 3% of the selling price. The Capital Gain is worked out on the difference between the purchase price and selling price less costs, expenses and interest payments. There is no capital gains tax after 10 years and only 10% capital gains tax after 5 years.

There is a Double tax treaty between UK and Morocco so you do not pay the same tax twice. Notary supervised property registration similar to Spain and France. Easy repatriation of funds should you resell in the future*.

* All information provided to best of our knowledge and as a guide line only. All tax and legal issues should only be addressed by certified Tax and Legal Advisor.

What if I want to re-sell before completion?

You are not the owner until the signing of the final deed, which takes place after the delivery of the property. In the mean time, you just have a right to purchase that you can yield to a third party. This can only be done if you have the agreement from the developer.

For more information call CSDS today on 0845 074 2900 or email: info@moroccanpropertyforsale.com

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