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Property purchase

Foreign purchase

All real estate ownership is allowed for foreigners, apart from agricultural land, providing they have government permission. Moroccan real estate agents are known as ‘simsaars’ and most do not speak English. Their local knowledge and fluency in Arabic and French will be invaluable. However it is key to hire a lawyer who is fluent in English as well as knowledgeable in the local legalities; they can help the purchaser deal with the simsaar. It is also advisable to set up a Moroccan bank account, both to facilitate currency exchange for the property purchase and to transfer funds to in the future.

Similar process to France and Spain

Largely, the purchase process in Morocco is the same as in France and Spain: use of a notary; the signing of deeds; the registering of the deeds; and finally the listing of the registered deed at the land registry.

Possible differences

Differences, when they do occur, are marked. For instance, in the medina of Fez, houses have ancient scrolls rather than titles, documents written by an official scribe (an ‘adoul’) that in some cases date back for centuries. Once purchased through a notary, it is possible to acquire a modern title for the property, however. For many people, purchasing a new or off plan property is therefore a more straightforward option.

Another difference is that the payment of a deposit does not guarantee that the property will be taken off the market, and there are even occasions when a house that has been sold is still occupied after the sale is completed. In these situations, the purchaser will only receive the keys to their new property once the owner or occupant has moved out. This does not always occur, or indeed create a problem if it does, however it does illustrate the importance of hiring a bilingual lawyer and serve as a reminder that new builds and off plan purchases are often the safest option.

Costs and taxes

When purchasing a property in Morocco you should budget for approximately 5 to 6% of the purchase price, which will include legal fees (these will vary from lawyer to lawyer) and the following:

• Stamp duty - 2.5%
• Notary fees - 0.5%
• Land registry fees - 1.5 to 2%
• Dispatch fees - around 500 DRh (approximately €45)
• Miscellaneous (certificates, etc.) - around 500 DRh (approximately €45)
  

Related items

Documents and Reports

	Morocco property investment report (386Kb)
	Morocco country guide (954Kb)
	Morocco property buying guide (828Kb)
Documents and Reports

Other related pages

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