Al-Mhamid 7 Marrakech

[Frederick]

This is my first post on this excellent and very informative site. I wonder if anyone has any info on the Al-Mhamid 7 site in Marrakech? It will consist of 5000 appts., mostly 2 bed and is away from the main tourist areas and close to the airport. Prices seem incredibly cheap but the documentation from the UK agent seems to absolve them from all responsibility once the initial £4k is paid (plus another £2.5k in fees). I'd love to get my foot on the ladder in Morocco but I'm wary of making a mistake. Any advise greatly appreciated.

 

[The Soup Dragon]

Website's I've got from googling this development don't look profesional and £2.5k agency charges on a £16k property seem steep. You can bet locals won't be paying that.

Have you visited the location these apartments are to be built? Are you happy renting to locals? (It is likely that few if any tourists will be interested.) Are prices reasonable when compared to existing apartments there? Considered going directly to the developer so that £2.5k agency fees aren't applicable? (I've nothing against agents that are worth their weight, but your choice of words suggest these probably won't be.)

Also consider maintenance costs. These might be similar (£) as for apartments costing two or three times that, but when expressed as a % of purchase price they will be higher for yours. That can quickly erode yield.

 

[uksub24]

Al-Mhamid 7 - Buyer

Hello All,

I bought into Al-Mhamid 7 back in February as a holiday home for playing golf in Marrakech. Purchasing was easy, but getting any updated information from Hiltoninvestments has been a nightmare.

hiltoninvestments give no customer service AT ALL, and I would not recommend them to anyone.

I actually nearly got some of my friends to invest so we could meet to play golf, and now after my experience I'm glad I didn't invite them to buy too.

If anyone has any new knowledge of this development, please post it here.

Thanks

Steve

 

[khany]

hi i have some good information about the area around the airport,

 

[Cazzi B]

Hi All,

I bought on this development way back in 2007, and since then have been passed to an agent here in Dubai to finish the sale upon completion in June 2010. Hilton Investments are no more apparently, however are finishing off sales already made. The guy who used to run it, is now here in Dubai, under a completely different company name. I have spoken to him today and he assures me that things are going smoothly. Is this the information everyone else is getting?

Has anyone been over to visit? I am planning to go early 2010 and get LOADS of info about everything. Please let me know if I can be of help to anyone.

I went into this with my eyes wide shut, and in hindsite (A wonderful thing!) ... Would not do so again. So it's fingers crossed x

Any more info anyone can give me would be greatly appreciated.

Thanks in advance guys!!

Cazzi