Buying in Morocco

[DC]

Surely, Morocco should be quite cheap. The citizens in Morocco probably earn around 400 or 500 euros a month, so properties should be quite cheap. The products that are to be built are probably very nice. And good places to go, but is there a completely 2 tier market ie. foreign lux and local. How is that going to mix, or is it not?

The climate and food are good. Are people going to morocco because spain is too expensive or do they fancy exotic (more),or muslim reasons?

What are the rentals going to be. Spains rental yields are low but it is the second most visited country in Europe. Morocco maybe will make excellent place for holidays, for making money I think one must be a little clever in this market.

 

[awahee123]

I think you are absolutely right on this issue Goldberg,it will be interesting viewing don't you think?.

 

[awahee123]

Wow looks like it will be a massive development,have you got any Bank or Banks,backing you in this venture?...

 

[awahee123]

I understand what you are saying but investors might be more interestd in investing if a large bank or other organisation were also investing in the development,if you see whta I am saying.

 

[wazaz]

Can anyone recommend some cheaper developments for sale.

The city does not matter, but I am looking in the area of Agadir, and Marrakesh. But like I said I am open to any city.

 

[manor park]

Wazaz

This is only my opinion, I do not really like Agadir, it has the weather but the place itself is not very nice. Marrakech would be good but you will pay some of the highest prices as it is an established destination.

I have invested in Tangiers, they are spending huge sums to improve the area and facilities, and in the future the tunnel should make this city the gateway to that part of the world.

As not all of this is in place yet, you can still find cheaper prices but they are rising. it depends on, what you want? How much you want to spend? and what will the property be used for?

If you do want any other information, feel free to PM if you want.

MP

 

[wazaz]

Wazaz

This is only my opinion, I do not really like Agadir, it has the weather but the place itself is not very nice. Marrakech would be good but you will pay some of the highest prices as it is an established destination.

I have invested in Tangiers, they are spending huge sums to improve the area and facilities, and in the future the tunnel should make this city the gateway to that part of the world.

As not all of this is in place yet, you can still find cheaper prices but they are rising. it depends on, what you want? How much you want to spend? and what will the property be used for?

If you do want any other information, feel free to PM if you want.

MP

My family already has a place purchased in Agadir, so I was thinking more of in the direction of Marrakesh. But I like both cities, for some reason Agadir has been more appealing to me though because of the ocean, and the fact that I have more family their.

I am open to any city though. I have sent you a PM.

Thanks!

Wesam

 

[manor park]

Wesam

I have replied with some info.

MP

 

[maggiemags]

Can anyone recommend some cheaper developments for sale.

The city does not matter, but I am looking in the area of Agadir, and Marrakesh. But like I said I am open to any city.

Hi wazaz,
I have invested in Morocco myself and could possibly help you with Marrakech and some other places there but would need to know a bit more about what you're after...size, style, budget etc. Not trying to sell anything myself but have done quite a lot of research on Morocco and have some good contacts so might be able to point you in the right direction...
Feel free to PM me if you want

 

[Naoufal]

Wow looks like it will be a massive development,have you got any Bank or Banks,backing you in this venture?...

Not banks but some developers give good guarantees, with that I mean also legal guarantees. Therefor they are a lot of foreign developers now in Tangiers for example providing good legal guarantees. But an local developers are cheaper than foreign developers.

 

[Sunnyshores]

MP

Hi there! Are you still looking in Morocco? I've got the Marrakesh one sorted, but still on the look out for other opportunities.

SS

 

[manor park]

Hi SS

I have not looked too hard as I purchased in Portugal instead, now that is sorted I am going to Marrakech on March 19th and may have a look at whats available then, it will cetainly give me a chance to get a feel for the place.

Contracts still not out on Tanjah yet, so once that is resolved I will know where i stand, good to hear you got yours sorted though.

MP

 

[Sunnyshores]

MP - lucky you - let us know what you see. MP

 

[michaelbush]

Hi SS

I have not looked too hard as I purchased in Portugal instead, now that is sorted I am going to Marrakech on March 19th and may have a look at whats available then, it will cetainly give me a chance to get a feel for the place.

Contracts still not out on Tanjah yet, so once that is resolved I will know where i stand, good to hear you got yours sorted though.

MP

Have a look at the riad reform investment on our site. Also the buy to let opportunity. Both good for investors who want to make money. As you are visiting, if you are interested we can arrange for you to shown these opportunities.
best regards

 

[manor park]

SS

Wil do, but it is more likely to be a list of the bars and restaurants I visited rather than property, but if something catches my eye I will check it out. I cant walk past an estate agents without stopping lol.

Mike

I did look at these before, but this trip is more to see the area than for any specific purchase. Really just background for the future but I will keep your site in mind.

MP

 

[RAZA786121]

For those people reading this post im assuming you've already purchased in Morocco or are currently carrying out research on the country / developments on offer hence looking at the Morocco Section, I hope this section provides you with all the information you are seeking.

To start with, for those looking into buying in Morocco i'll mention why I currently believe Morocco is such a good country to invest in.

1. Huge investment in Tourism, objective of the "Plan Azue" is to increase visitors to 10 million by the year 2010 & to provide concomitant infrastructure & facilities.
2. Moroccan government has signed "Open Skies" agreement with EU to allow European airlines to operate at Moroccan airports without restrictions.
3. The "Open Skies" agreement has seen the arrival of low cost airlines such as Easyjet, Thomsonfly & Ryanair announcing new routes, more to be added in 2007.
4. Favourable tax laws for foreign investors - no property tax for 5 years & how capital gains tax.
5. Mortgages are available with 60 - 70% the standard amount borrowed.
6. Close to the Costa del Sol - 30 minutes by hydrofoil to Tangiers from Tarifa & Algeciras 7. Year round sunshine - Hot summers, mild winters, an ideal winter sun destination.

There are several resorts being introduced in Morocco, developers from Dubai are also investing Millions, Qatar recently launched Al Houara, Emaar will be launching Tinja, currently most of the focus seems to be on the "Plan Azure" Resorts - Mediterrania Saïdia Resort, this resort is on the first on the "Plan Azure" & has the Kings backing. In brief the resort will have; 9 major hotels, 3 golf courses, 840 berth marina, huge commercial centre, water park, sporting facilities.

I am also happy to advise / assist on developments and have extensive knowledge on most developments, especially those in nothern Morocco.

Feel free to ask questions or if you wish post me a pm

Regards

Dear Vimal
I am interested in buying a 1-2 bedroom apartment in Tanger

Iam interested in La Vision and Tanger Boulevard

Do I need a lawyer in UK or Tanger

Please let me have your comments in respect of the above.

Raza

 

[Ken2]

2-beds appartment avalible in Morocco

Hello All,
I am new one here and intrested in Morocco property as well, recently I booked the 2 beds app. in new city Tamesna which is 12 km from the capital city Rabat and 5 km from the sea, the complition finish date is Nov 2009,
but my private circumstances have been changed and I now in processing to cancel it, if you are intrested in that I can refer you to the developer,
the timetable is 10 % to pay in two weeks, other 20 % in Sep-08, the company organise a tour to show the stage of the building propety and the mortgagee for the rest 70 %, total price is 55 K, the appartament must be equiped by everythig in Morocco style
The cancellation will happen in 7 days
Thanks in advance for any reply

 

[Ken2]

2-beds appartment available in Morocco

just would like to add that I am not selleng it, because it will be cancelled,
at the present the developer is selling similar appartment for over 60K euro, I got the low price after heavy negotiation

 

[misch.chief]

Compass Properties have a good reputation in Morocco

 

[lurcher21]

Nick, You are pushing your luck. They have just entered the mortgage market and frankly do not know what they are doing.

I am trying to borrow 50% of the value/current purchase price. Not only that I will pay VAT on the interest rates until the mortgage is paid off. The paper chase is plainly absurd. Every second day I have been asked to provide the same information in one form or another. e.g, marital status, no of children, passport number, Letter from DHSS, to confirm that they are aware of my existence, the latest is to obtain a sworn letter to confirm that I do not have another property in Morocco and I do not have another mortgage there.

For what you are planning to do, i.e.equity release. Morocco is not the Country.

I strongly suggest you also cover yourself re the succession laws over there - plus bear in mind the barbaric TPI tax system when you come to sell anything on! You pay capital gains (TPI) not on the actual profit you make - but they do a 'revision' and decide the property is worth more than you sold it for and give you an extra amount of capital gains to pay on top. Please see my posting yesterday for details.