How to buy property in Morocco
There are no barriers preventing international buyers from purchasing property, however, non-residents cannot buy agricultural land.
It is recommended to work with a real estate agent and to hire a lawyer to help navigate the local laws and procedures.
It is often recommended to open a Moroccan bank account and once a purchase price has been agreed, it is common to pay a deposit. This does not always mean the seller removes the property from the market though.
Just like in France and Spain, a notary acts for both parties in finalising and transferring the deed.
Once the notary’s work has been completed, the buyer must register their ownership with the land registry.
Fees and charges
In terms of costs, a registration duty of 6 per cent is applicable on property purchases by individuals or corporate entities.
Besides this, legal fees range from 1 per cent – 5 per cent of the property value and are subject to 10 per cent VAT.
Stamp duty is roughly 1 per cent of the property value, and the notary fee between 0.5 per cent – 1 per cent.
Land registry fees are 1 per cent and the real estate agent’s charges are usually 2.5 per cent of the purchase price.