No income Tax on the rent (double Taxation agreement applies so no UK Tax will apply) - note I am only looking at high quality property within a low rise, low density mega resort (classy though) with 3 18 hole golf courses, hospital, equestrian center, polo pitch, water parks, gucci and other leading retailers on sight, 800 berth marina, and my property has a 60 year mooring berth (very rare) all fully managed including the rent side, forested green area, full security, restaurants, cinemas, Olympic pools, bowling alley, shopping center - all very tastefully done in Moroccon style by UK and Spanish builders - so renting will be easy).

*Capital Gains Taxed @ 20% in first 5 years. Between 5 - 10 years its 10%. After 10 years its 0.

*The King has announced 'plan Azur', which aims to have Morocco become a premier destination by 2010.

*Huge developments - Dubai style are underway backed by none other than Emaar Properties

*An 8km tunnel will link Gibralter to Tangiers by 2008
Thanks
Desmond

Seems cheap, but what impresses me about Morocco is the combination of fantastic beaches, 3 hour flights and a Government heel bent on putting everything in place to ensure it becomes a world class tourism market, for example no income Tax on rents coupled with huge infrastructure investment to include a tunnel being built between Gibralter and Tangier.
Also many agents are selling the place which is a sure sign of market momentum.
To really make a decent investment I suggest the Mediterrania Saidia site. It offers total security and luxury, unlike the other smaller out on a limb sites. This will be crucial to rental markets. You can buy a marina berth for ?10000 on a 60 year lease, I suspect the rental return on this alone will be significant.
Gucci, Armani and Budha Bars have all acquired commercial premises on this site - that in itself will create hype and expectation. There are apartments from about ?70000, these will become gold dust within 5 years.
Thanks
Trent