North Africa looks set to become a key real estate market, thanks to its proximity to Europe, its growing population and its relative immunity to the global economic crisis. But potential investors and occupiers should proceed with care.
The impact of the global economic crisis on Algeria, Morocco, Libya and Egypt has been relatively mild to date.
North Africa’s banking system has appeared to be comparatively insulated from the crisis, thanks to its minimal exposure to toxic assets.
And while most stock markets fell significantly in 2008, Morocco’s fell by just 5% – and Tunisia’s actually grew.