Buying land in marrakech

[Informative]

Ok, i'm sure i'm not the norm, but has anyone ever considered buying land in marrakech and building their own villa? surely its gotta work out cheaper than buying one off-plan or ready?

although, im not sure of the complications that can arise building in a foreign country.

thoughts people???

 

[moroccobound]

Buying land and the building our own villa is cheaper than buying a villa off-plan but you will need to be a very strong willed. It is not for everyone. Easy it isn't. Bureaucracy, back-handers, brides, and we are only at the "b"s

 

[Informative]

hmmm.....but in terms of investment, its gotta work out better. i understand what you're saying about the legalities, etc. and yes, that does concern me a little. but how easy/difficult is it to find reliable project managers to handle the work for you??

or do such breeds not exist in morocco?!

 

[Beluga]

I buy 1 land in Marrakech last year and built a villa who will be finished in november 2007.
I buy in july this year a other land and have for your also opportunities in the next months ...I'm very well introduced in Marrakech and can present you the right peoples ....architects , builders

 

[Informative]

Hey octanorm,

Can you tell me firstly, do you reside in marrakech? i.e. do you live there or have you done this as an investment project?

Also, what was your involvement in the project and did you come across any problems / pitfalls? Sorry for so many questions, but it would help to know how complicated/easy the process is and what I should watch out for.

Thanks for your help in advance!!

 

[Beluga]

Hello Investingary
I don' reside in Marrakech but in Belgium , this is an investment project and not a second home. I handle this with an architect buro in Marrakech who follow everything . Since they started to built in november 2006 , I go in Marrakech 2 times and the villa will be finished in november 2007 with no problems . When the villa will be finished I can sell in at double of the price or I can rent in for 1000-€ a day did will give me a 20% netto return a year

 

[Informative]

If you don't mind me asking, octanorm, what kind of price did you pay for the land, and how much did the constuction cost..? When you say you only went to marrakech twice during the build process, is it because everything was handled by the construction company and did you not face any problems.....seems a little odd because with build projects, even if you are on site there are problems....and you not being there and having no issues seems a little strange and too good to be true.

 

[Beluga]

sorry but I don't given price on a public forum . Eveything is handle by the architects , they have meeting every week with the construction company . But the architects are Belgium architects who have their compagny in Marrakech and the constuction company is managed by a French who is very serieus ....I'm in contact with the architects by mail and received all details of the villa by mail

 

[Informative]

would you be able to pm me the price and some contact details please?

 

[moroccobound]

Investingary

Before you put yourself in the firing line, I would go to marrakech and look at several estate agents first hand. It does not much matter what someone paid for land, as price depends on time of year you buy, supply and demand, location, size, etc. One plot can be much more expensive than the one next to it because of various factors so research, research and more research.

At the end of the day, buying land and building your own home is far cheaper than buying one already built. There are many, many hurdles to cross, if you are willing to do so, then great, but if not, then buy a home already built. Nothing runs smoothly when building your own home, no matter where you are, this is especially true in Morocco,

 

[Beluga]

Prices depending from the situation (I have 2 lands on the golfcourse of Amelkis) , the prices are increased very strong since 4 years . Situation is very important in invest in real state. No I buy 1 hectare on 12 km from Marrakech and the price is cheaper. Anyway the construction price is cheap and is the same price everywhere. If you buy a villa allready done the price will be higher because the promotor takes the benefit look to the prices ...ther are a lot of good projects Samana Country , Parc d'Agdal etc. but you must choice between villa type A, B and C and this I don't like , I will to have my one architectural villa who is modern minimalisme.

 

[Informative]

hey moroccobound,

i hear what you're saying about the hurdles to cross, but that's what i've been trying to find out. what kind of problems should i watch out for, what are the issues involved, the legalities, etc. can you elaborate on any of them?

thanks.

 

[Informative]

octanorm,

i agree that if you buy something ready, then ofcourse it works out more expensive than doing it yourself. however, are the legalities the same on buying land and constructing? i.e. whats the difference in rules/legal when buying off-plan or from developer as opposed to buying land and constructing? i presume there have to be restrictions on the type of villa/house you can build on the land, how high it can be, planning permission (by the way, how long does it take to get planning approval once u buy the land??),etc. etc.

did you face any of these issues, or did the construction company handle this? did you buy the land with planning permission or have to apply separately?

thanks.

 

[Beluga]

If you buy a land never buy a Melkia land (musulmans) but buy a land (titré= french) and with permission of building. The restriction of building depending from area per example in the Palmeraie you can only built one villa for 1 hectare , in golf amelkis you have restriction of high etc. Timing of building you need 18 months : it means you buy a land , after 2 months you sign with the lawer (notaire = french) in the meantime you discuss with the architects and they handle the planning permission that takes 1 à 3 months (depending of the deal you want to pay)with the morocoon administration) and then for the contruction you need 12 months with a contract where you receive interest if they don't respect the timing.

 

[Informative]

it sounds like a relatively straightforward process. however, moroccobound did mention that there may be hurdles to overcome and issues to deal with. i'd like to know what kind of problems can i face (if any) during this process.

octanorm, i presume you speak french, so it must have been easy for you to communicate and deal with the administration. however, my french is as good as a first time school boy! so im not going to be good in communicating. will that pose a problem?

also, is the best way to find a suitable piece of land through estate agents, or do you approach land owners directly? what would you suggest?

thanks,
g

 

[moroccobound]

Hurdles such as beauracracy, bribes, constant handing out of money, being seen as a cash cow. It takes a lot of time and patience. The more contacts in local gov't you have and the more money you can give them under the table, the faster things can/will get done. Money and contacts speak huge volumes here. Once you buy the land you have to find out if there are restrictions and you may have to get a VNA and you have to find reliable people to manage and build and this is NO EASY Feast. A local's definition of reliability is not the same a Europeans. Money flows from your bank account like water. Be prepared to spend much more than you are origianlly quoted. Time delays, shoddy work. You must be on site to surpervise daily. Can't rely on anyone but yourself to supervise. No matter what someone may tell you. You MUST be here yourself.

Speaking French helps, but the workers generally only speak Arab. Do you speak any of these?

Yes there are estate agents, notaries, bankers, etc, but it is not like in the UK. You are very much on your own. If you can't be here on a daily basis to supervise and watch and instruct, forget it. Yes, no problem is the mantra here, but guaranteed, there will be problems, because what you may think is common sense, is not so here, often just the opposite.

Just by asking these questions, I really do not think you are up to it. No offence, just honest help. Been there, done that. In all honesty, buy a ready built property. You may still make capital gains and you will also keep your youth.

I do not sell real estate, nor am I a developer or promoter, so I think I can advise you in an unbiased manner.

I hope I do not sound too bitter, I am not. I and many other Europeans living here have learnt the hard way. I have not candy coated it, but have given it to you straight up. Good luck in whatever you do. I am sure there is capital gains still to be made in Marrakech but prices are continually climbing.

 

[Informative]

hey moroccobound,

I appreciate the honest, upfront comments and advice. It is definitely invaluable to me in making my decision. I have been given two different fronts on this whole issue - one from octanorm and one from you.

On the one hand, octanorm is proof of the fact that it can be done and if well planned, you can also make good money out of buying and developing. On the other hand, the points you have put across just can't be ignored either. I always had a feeling that things can't be as easy as pie in a country like morocco. it's only recently opened up and there are a lot of bureaucratic hurdles to overcome. Some of my friends who have visited morocco and tried to investigate this issue have come back losing 10 years of their youth!!!!

The DIY option is always the best option if things could go smoothly. In the UK, at every stage your investment is protected. There are rules and regulations to cover you in case of any fraud, and systems are in place which enable you to efficiently handle a project. Sadly, that doesn't seem to be the case in morocco. I hope that these issues will be resolved soon, but until then, most of us may have to be satisfied with the off-plan route. Lets be honest, even that does give you a healthy profit if timed right!

Octanorm and moroccobound, you guys (or gals as the case may be!) have been a tremendous help in guiding me. I think for the time being, I'm going to give the DIY option a miss and look at some off-plan projects. Octanorm, you did PM me and advised that my budget would not be enough anyway. So definitely the off-plan route is the best option for me now.....

Thanks once again for all your advice.