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House prices going up in Morocco

Efforts to boost tourism in Morocco are helping to push up house prices across the country, according to property experts.

Homes Overseas magazine stated that the Moroccan government is looking to increase annual visitor numbers to ten million by 2010.

This would be almost five times the amount recorded in 2002 and would prove to be very lucrative for the economy.

However, the publication believes this is having an impact that extends far beyond the tourism sector, as its housing market is also being affected.

Indeed, investment in certain towns and cities is leading to a surge in house prices which Homes Overseas expects to continue for several years at least.

The magazine commented: "Around £7.5 billion is being spent on new homes and infrastructural improvements."

According to the National Tourism Observatory, 2.5 million people arrived in the country between January and May 2008.

This is 11 per cent up on the amount recorded during the first five months of 2007, reports the Maghreb Arabe Presse.

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