Morocco has undoubtedly spiced up the Mediterranean property scene of late-overseas investors smitten by the sub-tropical climate, enchanting souks and Moorish architecture, with a growing roll call of A-list property owners such as Mick Jagger and Richard Branson fuelling the country's upscale profile. Changes to the law in 2001 allowing foreign investors to take the proceeds out of the country, signalled a step-change in the country's real estate fortunes, backed by a newly created government Protection Unit to channel inward investment.

"French and UK buyers continue to lead the purchasing pack", confirms Louise Hillcoat of Amazing Morocco. "Lack of restrictions on property ownership together with familiar conveyancing laws, mortgage availability and annual capital growth at 15 per cent are attracting a high percentage of first-time buyers.

"Budget flights have also boosted holidaymaker to investor ratios, with a choice of low-cost operators, including Morocco's recently launched budget service Jet4You making weekend getaways a viable option."

Real estate projects in Marrakech, Tangiers and Fez have attracted a healthy mix of second-homers and pure investors. Arguably the most innovative development to date, however, is that of Oukaimeden ski resort in the Atlas Mountains. Snow-sure at over 3,250 metres, yet only an hour's drive from downtown Marrakesh, the station's $2billion "luxury" makeover by Emirates-based developer Emaar PJSC, will combine recreation, entertainment, commercial and real estate components "phase built", across the High Atlas scenic valley bowl. Scheduled to complete in 2010, Emaar's master plan promises "low density" and an absence of "high rise", music to the ears of property agent and developer Nicky Kerman of Marrakvillas. "The resort has been popular with wealthy Moroccans for years" he says, "its close proximity to Marrakech and its off-piste and cross-country options draw a loyal following, but its full potential has never been exploited. The ski season is reliable but short-lived, running from January to March, but snow-making facilities and improved access points will extend the season by another 4-6 weeks at least. Plans to upgrade mountain biking, trekking and climbing amenities in the summer months will also maintain a steady 'foot flow' of visitors throughout the year.

Spotting the signs of early growth, investors Chris and Sue Macklin from Heathfield in East Sussex purchased their six-bed luxury villa in the gated community of Domaine dar Chmicha ("Smiling Sun") last July. Located 45 minutes from Oukaimeden on the Ourika Road, the development, wrapped around the walled garden of an imposing Moorish mansion - Villa Alexandra - and accessed by a private bridge, boasts ten luxury villas set in the grounds of about 1.25 acres apiece, a number of the villas extending to 5,000sq ft over two storeys, with a further 2,900sq ft of terraces, verandas, and service courtyards."We bought primarily as an investment," explains Sue. "But personal use was a consideration too - we have five kids spanning 20 to 37, so we plan to holiday there with the family as much as possible." The Macklin's were given a choice of four villa build styles and opted for a Berber design, with carved windows, high archways and an internal courtyard. "We've got about an acre of private garden planted with citrus, olive and palm trees and a large pool," adds Sue. "Properties come with fully-fitted kitchens, bathrooms, air conditioning and heating as standard, with build-time of around 15 months." As to whittling down investment locations: "We like the vibrant atmosphere of Marrakech, but the mountains won us over, it's such a peaceful spot. Getting here is easy as flight time is under four hours."

Marrakvillas:
0207 235 9185
www.marrakvillas.com