R
redangel7861
New Member
As an investor in Morocco two things are troubling:
1. Increase in VAT by 6%
2. The devaluation of the pound vs MAD
Taking a 6% hit on VAT is bad enough but seeing the MAD now trading around 15 per pound (a drop of nearly 10% in the past few months) is making
Morocco a less desirable place to invest for UK residents.
Linking the MAD to the EUR, is in my opinion is a big mistake by the Government of Morocco. The EUR zone is a world economic power, where as Morocco is a developing nation, and does not deserve to have an appreciating currency against the pound.
To lose up to 16 % of possible profit (years capital appreciation),will surely be putting new UK investors off Morocco. I have put down a fully refundable holding deposit for Atheana Golf in Saidia, but am seriously contemplating pulling outof the deal and getting my money back.
I also have a 2 bed penthouse in Marrakech (Atlas Golf) - which I have no problems with, Marrakech is an established market that will continue to grow.
Saidia will be a new market, hence more risky, coupled with the VAT hike and ccy MAD vs GBP drop, it is starting to look like a less desirable location to invest in.
As ever, comments welcome
1. Increase in VAT by 6%
2. The devaluation of the pound vs MAD
Taking a 6% hit on VAT is bad enough but seeing the MAD now trading around 15 per pound (a drop of nearly 10% in the past few months) is making
Morocco a less desirable place to invest for UK residents.
Linking the MAD to the EUR, is in my opinion is a big mistake by the Government of Morocco. The EUR zone is a world economic power, where as Morocco is a developing nation, and does not deserve to have an appreciating currency against the pound.
To lose up to 16 % of possible profit (years capital appreciation),will surely be putting new UK investors off Morocco. I have put down a fully refundable holding deposit for Atheana Golf in Saidia, but am seriously contemplating pulling outof the deal and getting my money back.
I also have a 2 bed penthouse in Marrakech (Atlas Golf) - which I have no problems with, Marrakech is an established market that will continue to grow.
Saidia will be a new market, hence more risky, coupled with the VAT hike and ccy MAD vs GBP drop, it is starting to look like a less desirable location to invest in.
As ever, comments welcome
