“Why Retired Europeans are Flocking to Morocco for Real Estate Deals”

In search of a comfortable standard of living and a lower cost of living, many French retirees flock to Morocco. Nearly 60,000 of them have already settled in the kingdom, a number that is sure to increase in the coming years. The reason for this craze is the relatively high purchasing power they have in Morocco. In a report by France 2 on this subject, Germain, a retired man living in Morocco, says that a kilo of tomatoes costs 50 centimes here, “compared to 4 to 5 euros in France”,

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With such a big difference in purchasing power between France and Morocco, retirees in the kingdom can afford luxury homes at very affordable prices. It’s a lucrative business for real estate agents, who make their living by offering homes that meet the expectations of retirees. Laurent Ginard, a French real estate agent, says in the report that he has already helped almost 1000 retired French couples find a home in Morocco.

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According to the website “Retraites Sans Frontières” (Retirement without borders), Morocco is one of the top 10 best countries to spend your retirement. The kingdom offers a special tax scheme for foreign pensioners, who benefit from an 80% tax reduction on their pension. However, the kingdom must continue to innovate, because countries such as Portugal have been inspired by the Moroccan model and are gradually becoming very serious competitors.