Key Factors of Infrastructure Investments and their Affect on Tangier Property Values
The tourism development plan is the key factor in infrastructure investments that result in the increase in the values of properties in Tangier.
Modernization and the soaring development of Tangier has had a very positive impact on the real estate market of this
beautiful city in Morocco. Tangier has attracted many property investors because of its recent infrastructure advancements which were designed under the tourism development plan of the city and have resulted in the increase of property values. Let’s find out why tourism, infrastructure, and real estate properties are connected with one another.
Tourism development plan
Major investments encompass the totality of the tourism development plan in Tangier. These investments focus primarily on the infrastructure such as:
* Upgrading old airports and building of new ones–The new airport agreement paves the way to allow budget airlines to make Tangier more attractive destination for tourists and investors.
* Port between Tangier and Tetouan–Temporarily called the Golden Mediterranean, this new port will become the hub to Africa where roads link to nearby areas and will ultimately make it more of a tourist destination. The road improvements, particularly the new motorway, will become a fine coastal road where a wide selection of properties are available on the tip of the northwest, specifically Atlantic coast and Inland. These two areas are turning becoming recognized tourist resorts, and are resulting to reasonably high property values.
* Train station, rail tunnels and roads–With the construction of a train station, rail tunnels and roads, it is guaranteed that the plan to build hotels by 2010 to accommodate about 60,000 people is liekly. With that, a budget was released to renovate old hotels within the vicinity which will make Tangier more tourist friendly because of its accessibility to travel between Spain and North Africa and cause an increase in property values.
* Rise of commercial complexes, residential buildings, leisure facilities and hotels–With these sprouting infrastructure developments, more and more property investors are attracted to Tangier. In no time, it is expected that property values will increase up to 30% annually.
In this current situation, Tangier is taking a fast course in its overall development, specifically in tourism. These changes are greatly affecting the value of real estate properties. Now is the good time to make property investments while the rates are more affordable. However, before making any purchase, it is advisable to consider the taxation rules in Morocco. All prospective investors should refer regularly to Tangier property news updates to be well-informed.