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Quarkin

The Different Benefits Of Purchasing A Riad In Marrakech

The majority of people want to own a holiday home in a warmer climate.  A place where they can relax over the summer months and maybe enjoy their twilight years.  Popular places include France, Spain and even Portugal; however, Morocco has also begun gaining some interest.  Before purchasing a holiday home somewhere, whether it is Morocco or not, there are some considerations to be made.  Property can be very expensive and you do not want to waste vast amounts of money on a poor investment.  Below are some tips on what to consider before buying a riad in Marrakech.

1. The property titling

People who buy Moroccan riads for example Riad Al Rimal can expect townhouses built in the traditional Moroccan architecture.  From the street you will believe the property is rather modest; however once inside you will find a hidden world of elaborately decorated rooms surrounding a central courtyard.  Yet, as beautiful as a riad in Marrakech can be you must be aware of the titling details before purchasing this masterpiece.

Property titling in Morocco can be as antiquated and traditional as the architecture, and in many cases it is difficult to determine original ownership.  If this is the case you will be required to pay legal fees in order to have the riad re-titled, a process that can be very time-consuming.  Furthermore, you will have to locate an English-speaking legal authority to act on your behalf which can be very costly.  However, once the title has been updated and clarified the value of your property will increase.

2. Renovation

If you are looking to renovate the chosen riad in Marrakech it is vital that you do research about the structural stability of the property before purchase.  Generally the older riads are built of plaster or clay making renovation difficult.  In these instances, it is recommended you demolish the building and begin again as renovation of clay structures can be highly costly.  Of course, many riads do not have foundations on which to remodel.

3. Financial issues

One factor that many people do not take into account is that purchasing a riad requires opening a Moroccan bank account.  As the Moroccan tax system has been noted as an overcomplicated and corrupt one, it may be necessary to pay bribes in some occasions.  Always consider hiring a reliable English-speaking tax consultant to assist in navigating the Moroccan financial system.

4. Ongoing expenses

If you are looking to rent out your riad in Marrakech during the 'off season' you must understand the costs involved.  For example, electricity costs in Morocco can be very expensive and it may be worthwhile hiring an estate agency to oversee the property when you are away.

5. The political situation

One factor that must be noted when purchasing a property in Morocco is the current political situation.  At the moment, a large proportion of the Arab-speaking world is undergoing political change.  Strangely enough, this change has not affected tourism as much as many thought it would; however, it should be considered as the political protests may continue for long periods of time.

Don't be the product, buy the product!

Schweinderl