Why Did Home Prices Fall?

Real EstateCongratulations on beginning the method of buying or selling a home. The city has two distinct actual property markets: the Medina, and all the things else. Prosperous Moroccans tend to buy in the new part of Fez, Mr. Sola said. Virtually all properties within the Medina are Moroccan-owned, often passed down via households, he added. However when a foreigner does purchase property in Fez, it’s likely to be in the Medina.

Please notice: You possibly can solely apply for the licence after you have completed the qualification. The licence application is a separate course of that is independently managed by REAA, and may take around a month. The earlier you complete the qualification, the earlier you may apply on your licence and begin selling property.

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There are two mezzanine rooms in the house, one on the staircase touchdown between the primary and second floors, the other between the second floor and the roof. The roof terrace overlooks the Medina, a sea of satellite tv for pc dishes on previous rooftops, several minarets in the distance, and Mount Zalagh past. On the roof are two rooms, one used as a laundry room.

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There aren’t any restrictions on foreigners — no nationality forbidden,” as Mr. Elsener put it. This house has clear title, an official documented history of earlier possession. Within the Medina, only about 10 percent of properties are in that category, and it offers their buyers a major benefit. Nobody can come and say, ‘My grandparent gave me half of this house,’ ” Mr. Elsener stated. It is a very protected transaction.” And with out the title, the client might have been subjected to a prolonged bureaucratic process and a charge of almost $9,000 in tax and authorized fees, with a view to obtain proper documentation from the Metropolis of Fez.