Making money from property in Fez

The old town in Fez is steeped in history - from its walled citadel to the oldest surviving university in the world. It has recently been named a UNESCO World Heritage site.

In a way, though, that is bad news for the traditional Moroccans who have lived in the old buildings for generations: renovating them is too expensive for families on meagre incomes.

So they are selling up, moving out and buying modern flats in the newer parts of the city. With locals moving out, it has created a niche for foreign entrepreneurs looking to buy up property, renovate it, and run small guest houses for the City's budding tourism trade.

But is this really a good way for middle aged couples from France and Germany to escape the "rat race" and start afresh?

Jeremy Howell went to Fez to find out.

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