Marrakesh

[Sunnyshores]

In reply to Manor Park (Qatari Diar thread)

Marrakesh - I havent been but have researched and brought off-plan.

I attach a link (if I'm allowed) I'm not suggesting you buy through this company and anyway their developments are sold out, but their research is good, see Olive Grove and Atlas pdf brochures for good background info on Marrakesh.
Ready2invest - Recent off plan and investment deals / opportunites

I was also told yesterday that current prices are E1800 - E3000 per sq metre.

Do let me know what you find, I'm still interested in this market, just havent had the time to pursue it lately.

 

[investor27]

Hi, my opinion, I think there are already too many development in Marrakesh & prices are already high so they wont appreciate as much as developments in the nothern region of Morocco, yes the developments mentioned above sound good but I dont believe they are in the best location / have the facilities other resorts will have, ie Saidia / Al Houara / Tinja...

The advantage Marrakesh has got over the nothern region at this moment in time is the low cost carriers are flying into the airport there, so in essance a return flight would proc cost you £50, compared to the £250 it costs to fly into Tangier, but this will hopefully change soon.

(The above is soley my own opinion)

 

[Sunnyshores]

I'm certainly not saying the developments above are good, I was just saying that the information provided in the brochures was good background economic information on Marrakesh.

I agree prices will probably go up more in North Morocco (and I will invest there too) but I think you have to be careful to be in the right development and it presents a risk in that it is an unproven market. You think Marrakesh is highly priced - it has grown to these prices over 10 years. North Morocco has much the same prices at its entry level.

Again, just my opinion!

 

[investor27]

Prices are not that high on all developments in northern Morocco, i find the higher prices are on the more exclusive resorts, such as Saidia, Al Houra & possibly Tinja, your paying for 5 star & all facilities on site... there are resorts in northern Morocco where you still can get a 2 bed for aprox 65-70k..

 

[Sunnyshores]

I27, I do take your point and as I said I will buy there (hopefully Tinjah) I think MP already has somewhere there too.

But diversification is a good idea and I do think the Marrakesh market is a good one. So has anyone else brought or looking in Marrakesh?

 

[manor park]

Sunnyshores

Thanks for the info, The reason I mention Marrakesh is, although it is not as cheap it is an established holiday destination. The cheap flights have made it even more popular. We are all hopeful for the North and that it takes off in a big way, but although we have/are about to buy there, there is still an element of risk.

I am not sure I want to put "all my eggs" in the Northern basket so to speak and will look at what else is available.

 

[Sunnyshores]

MP
Totally agree. Keep me posted on what you find, I'll do likewise.

 

[manor park]

SS

I have had a look at the link (never had time before my previous reply) they look good, if not sold out I would have sought further details on Olive Grove. I have registered for further info, but if I see anything else of interest in the meantime I will let you know.

 

[manor park]

has anyone bought or visited Dreamworld's El Oasis development in Marrakesh? Not seen any post's on this anywhere!

So if you have bought or visited I would be interested to hear your thoughts.

 

[abdul]

oasis de marrakech

has anyone bought or visited Dreamworld's El Oasis development in Marrakesh? Not seen any post's on this anywhere!

So if you have bought or visited I would be interested to hear your thoughts.

i was there on feb07,the show room was up ,and running and it looks very
promising. I bought a 2 bed appartment in Charkia.just received the contract
signed and post it back to legal ALLIANCES.
regards

 

[manor park]

abdul

Thanks, is there anything in the surrounding area or is it quite remote?

MP

 

[abdul]

abdul

Thanks, is there anything in the surrounding area or is it quite remote?

MP

the nearst project in Palmeraie with 18hole golf course,also Motorway to
Casablanca more than that very close to Jamma el fna and Elmadina.
very good location for Marrakech.

 

[manor park]

abdul

I was thinking in terms of what maybe in walking distance, you seem to be referring to the general area, I think?

MP

 

[Sunnyshores]

Hi MP - have you seen any interesting developments in Marrakesh yet ?

I have been looking at another Gardens of Fedela development (they have 4 devts already started in other parts of Morocco, inc a Fes one which has a thread on this forum).

Maroc Asur Residence the developer has good incentives such as free flights and housekeeping for 3 years, acess to their other developments, guaranteed buy-back, guaranteed 7% rent etc.

As yet no plans or drawings so I dont know aesthetically what its like - the other developments were nice traditional looking low rise buildings.

Its located next door to the Samanah Country Club (an excellent development, but too expensive for me),15 mins from the city centre and on the road to Richard Bransons 6* hotel Tamadot - so I think the location is good.

Agents are selling 2 beds for E190,000 which is about E1800 per m2 - other devts are E2000+. So it appears reasonable value. But not sure what level of luxury this is compared to the others.

Has anyone seen it, researched it ?

All the best.

 

[manor park]

Hi SS

Did have a look around at Marrakech but could not find anything that caught my eye (and anything that did the deposit was too high). I have looked at a couple of other places but am still interested in Marrakech and have booked a trip to go there in March for a week.

I will have a look at the Maroc Asur Res. and if I see anything else I will post it.

As you probably know the BL is in for Tanjah now, so mainly thinking about getting the contract sorted for that and I will then know where I stand.

MP

 

[The Soup Dragon]

Hi SS

Think I visied the site you are reffering to last week. There's nothing to see other than the quality of the French Samanah development next door. (That 1m Euro show home is very nice.) Also near by is the Eden development (not walking distance, but only a short cab ride in direction of town.) I've heard one or two say the Eden development will perhaps be the best outside Marrakesh, but I really couldn't comment.

Location of project you commented on looks good - initially, but we must remember that there are a plethora of developments on the outskirts of Marrakesh. Who will the typical buyer / renter be? Would someone working in Marrakesh want to live there? I suspect not. Will tourists want to rent it? Perhaps, but look at the number of beds coming up around Marrakesh. If you were a tourist visiting Marrakesh (think carefully who they will be) - would you rather stay in Marrakesh or nearby? That is my big question and the reason I will probably not invest. I have however requested more informaqtion. It certainly merits further investigation.

 

[Sunnyshores]

Hi SD
I agree with what your saying about the huge number of developments on the outskirts, but some will be winners - its just a case of picking the right ones! If location is the first consideration then I think this one is great.

It also has to have an excellent build quality and finish. Thats my worry as it is relatively cheap. I believe some of his other Fedela developments are part finished, has anyone seen them ?

About renters - I think there's a new market of tourists, older families with younger children. I include myself in that. We travelled alot in our 20s and early 30s and have only just had children. The thirst for travel is still there, but we have to compromise. So whereas in our 20s going to Marrakesh would have meant some cheap B&B right in the centre and in our 30s a nice 5* walking distance to the centre, now in our late 30s with 2 young children it means a nice luxurious complex in the peace and quiet (and sun!) but near enough for a few cultural forays into Marrakesh.

For alot of people as long as the sun and facilities are there, in a way the local attractions or where it is dont really matter. Have you seen the number of people who book all inclusive resorts in the Carribbean and dont even leave the complex!

Also what about golfers - Samanah has a Jack Nicklaus course. But not all golfers will be able to afford their room rates.

Do you think residents of the Fedela/Salama Valley will be able to acess the Samanah to use their facilities ? The above tourist scenario needs great facilities and I'm not sure Fedela/Salama valley has enough.

 

[wanata]

developers in Marrakech

Hey All,
Does anybody knows of any moroccan developers in Marrakech or Fes? I would love to get in touch with some of them for business.

Thanks,
wanata

 

[Sunnyshores]

I've now been told there are 2 Gardens of Fedela projects for sale now in Marrakesh. One is next door to the Samanah and I dont know where the other is. One is townhouses and a large development for about E180k and the other smaller and just appartments for about E100k.

I can find agents with one or the other, but no specific details. Both have the great incentives that the devloper offers.

Come on Mark H, where are you hiding - I know you've go them both for sale - can you give me details of the locations as a starter.

SS

 

[manor park]

Hi SS

I had a look for the development you mentioned and I can find no info at all! Have you got a link? or is this the one you are waiting for Mark to unveil?

MP