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A decade ago, buying a home overseas could be contemplated only by the adventurous or the well-heeled - and then it was probably somewhere like Provence or Tuscany, a location with obvious holiday home appeal. Now we are all at it, in the most unlikely of places. |
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Marrakech, Morocco
The Red City is exotic, exhilarating and easily accessible at just three-and-a-half hours' flight from the UK. Until now, foreign buyers have been snapping up riads (old houses built around courtyards) in the medina. A new wave of developments is cropping up on the outskirts, however. The Samanah Country Club, Dar Chmicha, a boutique development 10 minutes from the centre, and the ultraluxurious golf development Assoufid, with the area's only hills, all through Savills International.
Ready2Invest predicts 14 per cent rental yields and 15 per cent capital growth at its Olive Grove development. "The two factors that drive capital growth, high demand and limited supply, are both evident here," says the company's director Alise Crossick. "A modern urban infrastructure, excellent international air links and world-class golf courses means that Marrakech is developing into a desirable investment destination."
Flight time from UK: Three and a half hours.
Flight cost: From £60 return with easyJet.
Property buying costs: Approx six per cent of purchase price.
Main selling point: Exotic, chic destination with upmarket new golf resorts for a fifth of the price of Spanish or Portuguese equivalents.
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