Moroccan Property Buying Guide
The information on this page is only intended as a guide. Buyers and Sellers should always seek the services of a qualified Notary before entering into any agreement.
For clients visiting for the first time.
Our associates in Morocco can organise hotels, car hire, taxis, help with the language, guided tours of the city, and trips into the mountains and longer excursions into the desert.
In our Property pages you will note that
each property has a reference code. The code is
made up from the following key:
| |
A |
= |
Apartment |
| |
AG |
= |
Agdair area |
| |
As |
= |
Asilah area |
| |
BA |
= |
Bab Akma area |
| |
C |
= |
Campo |
| |
ESS |
= |
Essaoiura area |
| |
F |
= |
Fes area |
| |
H |
= |
House |
| |
K |
= |
Kassir |
| |
M |
= |
The Medina |
| |
N |
= |
New area of Marrakech |
| |
R |
= |
Riad |
| |
T |
= |
Tangier area |
| |
TG |
= |
Taghazout area |
| |
TR |
= |
Taroudannt area |
| |
TT |
= |
Tetuan area |
| |
V |
= |
Village |
Example: MACH-1 = Marakech, Campo, House 1 |
The Medina is the old walled city
A Riad is a large old house in the Medina, some of which are used for restaurants or small hotels
All prices are in Euros, Payment can be in Euros or Dirhams. Check our Exchange Rates page.
The legal system is Latin-based and similar to that in France and Spain.
Breakdown of Fees:-
- Registration fees are 5%
- Government taxes are 3%
- VAT is 2½%
- Notary fees are negotiable, dependent upon the cost of the property in each case. However, there is a minimum of 5,000 dhm.
Dh or MAD = Moroccan Dirhams
Procedure: The buyer will open a Euro account with a bank in Morocco and will transfer Sterling or Euros to that account. The Euros will then be converted into Dirhams at the point of paying the seller. |
All properties will be freehold but in most cases of old houses, deeds will need to be created.
New properties tend to have existing deeds.
The system is very similar to Spain except that the papers are created and signed by a Notary.
A buyer will generally have to pay a 10% deposit, the normal time to completion is 6/8 weeks and the buyer will need to return to complete the purchase.
There is no VAT on the purchase of houses or land, however there is vat on the notary and government registration fees. VAT is also applicable to new building and renovation/alteration work. If you are buying "off plan" VAT is charged
Land sales are subject to a charge of 1% to cover the notaries'
fees.
There is a new tax applicable throughout Morocco
which applies to all new building and renovations. It is
a 'Development Tax' and is in addition to VAT and planning
costs etc. In Marrakech it is 30 dhms per m² built
but varies in other cities.
Mortgages are available on the following terms: -
1) The maximum mortgage is 50 percent of the purchase price or valuation.
2) The purchase can be paid in Euros, Dollars or Sterling .
3) The usual maximum period is 15 years but this is negotiable. The term cannot extend beyond
normal retirement age.
4) Interest is negotiable at around 7 to 8 percent.
5) Proof of income is required.
After Sales
Our associates in Morocco can arrange building work, from
small items to major refurbishment or new housing and can
organise care-takers, cleaners, rental agencies etc.
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