Morocco...prices Plumet.

[picnic]

There is a very real possibility that as euro money has dried up and the appetite for property vanishes that many people will find themselves sitting with mortgages and unlet property and no chance of a sale except at a distressed price for the forseeable future.

To be fair to the enthusiasts for Morocco this will affect all the speculative European markets.!

[AndyK2]

There is a very real possibility that as euro money has dried up and the appetite for property vanishes that many people will find themselves sitting with mortgages and unlet property and no chance of a sale except at a distressed price for the forseeable future.

To be fair to the enthusiasts for Morocco this will affect all the speculative European markets.!

Blimey! You got out of the "happy-side-of-the-bed" this morning. Nobody has a crystal ball and can predict what is going to happen to any market beyond the short term. Whereas I agree that certain areas of Morocco are going to be over-subscribed and will suffer in the same way as some of the Costas in Spain, there are still going to opportunities for investors to make a good return to their investments. If you compare Saidia with Tangiers (for example) there is going to be a huge marketing machine supporting the plan azul, which will help maximise rental yields and capital return - can´t see that happening on the Tangiers-Asilah coastline.

Could be worse - you might have bought a ground floor apartment in Cape Verde, and global warming accellerates. At least the penthouses will have private moorings!

[euroscooby]

Morocco...prices Plumet., No resales,investment worth nothing

Not sure I have seen a more inflammatory title to a thread for a long time.

Such tacky tabloid forum tactics undermine any sense that what you say may actually be true.

Just looks like you want some attention....bless.

Edited August 27, 2007 by euroscooby

[picnic]

Forwarned is forarmed.

Point taken about tabloid style.

Pleased you agree with the premise though.

The party was just a dream....now it is time to wakeup.

[Jesus of nazareth]

If you compare Saidia with Tangiers (for example) there is going to be a huge marketing machine supporting the plan azul, which will help maximise rental yields and capital return - can´t see that happening on the Tangiers-Asilah coastline.

Thats right AndyK2 Emaar and Qatar Diar are going to make a right cats Ar$e of it arnt they

WAHhahaha...................................

Edited August 27, 2007 by Jesus of nazareth

[picnic]

Ok,

What about anybody showing me evidence of a resale in Morocco ????

I'm with Jesus !

[picnic]

So thats official then

Nobody can show me an example of a resale in Morocco.

Surprise Surprise !!

[AndyK2]

Thats right AndyK2 Emaar and Qatar Diar are going to make a right cats Ar$e of it arnt they

WAHhahaha...................................

They already have, but for a prophet and saviour of mankind, I was suprised you didn´t already know that!

[Jesus of nazareth]

Ok,

What about anybody showing me evidence of a resale in Morocco ????

I'm with Jesus !

Actually I was being sarcastic, the Al Houara and Tinjah developers are two of the biggest in the world. I was having a joke at Andy's comment. Although I agree there is little if any resale going on in Morocco(as Saidia owners know all too well). All this will change if/when these resorts become popular, at the minute the people interested in buying in Morocco are mainly investors, the new wave of buyers will be holiday makers.

A resale involves a buyer forking out more money up front and taking a smaller mortgage, this is the down side of resales and is not attractive, this again changes when you complete on your property, a buyer will then be able to benefit from a full mortgage on the property.

[Jesus of nazareth]

They already have, but for a prophet and saviour of mankind, I was suprised you didn´t already know that!

Oh Andy stop it you old goat, my sides are starting to split.

[euroscooby]

So thats official then

Nobody can show me an example of a resale in Morocco.

Surprise Surprise !!

There is likely to be very few or any profitable resales on Sadia at this point. Nor should you expect any. It proves nothing. We are at an early stage. The hype has moved onto other new resorts and other countries.

I suspect we have seen the end of the 'off plan' buyers. Those who are happier taking that extra risk on buying some sand. In this group there are some people who get nervous and bail and some whose life circumstances change.

In around 9 months as the plots become brick reality and the various hotels head to completion you will get those investors who begin to see what the resort will look like. The second wave, you can see this in every new-build anywhere in the world. Second wave make less money but take less risk.

By 2009 with much of the resort open and vistors rising many more will buy and then those who want to flip will be able too and those who are looking for an 'investment' will settle down for the long haul. The third wave arrive now. Came on holiday, loved it. Now want to buy a slice of it.

We will have no idea until 2009/10 whether an investment in Morocco was a good or a bad idea. Start your victory dance then.....if it is indeed a victory....I think not.

Edited August 27, 2007 by euroscooby

[Guest muttley]

Morocco...prices Plumet., No resales,investment worth nothing

Not sure I have seen a more inflammatory title to a thread for a long time.

Agreed. The worst one since "Morocco.......My best ever investment"

[agtisch]

I think ultimately 3 things need to happen for the resort to become a success:

1. When finished, the resort is as promised to us on the blueprint.

2. Morocco as a whole continues to prosper and reform.

3. All the budget airlines start flying into Oudja airport.

If these 3 things happen then whatever other property markets around the world do, med saidia will be a success.

[catara]

There is a very real possibility that as euro money has dried up and the appetite for property vanishes that many people will find themselves sitting with mortgages and unlet property and no chance of a sale except at a distressed price for the forseeable future.

To be fair to the enthusiasts for Morocco this will affect all the speculative European markets.!

Can you point out a place in Europe and surroundings where the speculation was not huge?

Do you think Egypt, Turkey are cheap?

[rumpola]

I personally know of 1 person that has successfully resold 2 properties on Saidia (AP6, 2 bed p/house and 3 bed duplex).

I also know of another guy that has succesfully resold a Fadesa villa (V-2).

They both made a decent profit on the sales, and they havent been completed yet, so to state that there isnt a re-sale market in Morocco is wrong.

Admittedly, I cant imagine the re-sale market will pick up until the first hotels, golf course and commercial centre are ready and in use, but im feeling pretty certain there will be a market for resales when the site's up and running.

[dogbox]

Just returned from 2 weeks in Sardinia which bought the value Saidia represents into sharp focus.

Firstly the villa we stayed in was 2.5x more expensive than Saidia.

Southern Sardinia is very scruffy, almost third world in apperance apart from parts of the capital.

So lets consider the limitations of the Sardinian villa:

1) No golf anywhere in the area let alone 3 onsite courses

2) No facilities - just one grubby tiny genral stoe

3) Cramped - packed beaches

4) Gridlocked roads featruing lots of Itlaian road rage. Took 30 minutes to drive 1 mile from the villa to the main road due to the supposed 'up market' area featuring single width dirt tracks

5) No marina, let alone the largest marina in the Med

6) A ghost town outside summer - the total opposite of the Saidia positioning as a year round attraction

7) The guests all said there was too little to do especially for kids

8) No aircon

9) No clubhouse

10) A couple of ok restaurants (Saidia will have at least 20 set around the sparkling marina)

11) No sports facilities - Saidia will have Olympic pools, a small football stadium, many gyms, spas, water parks and swimming lagoons

12) Unattractive in the main. The beaches were quite nice (but packed) yet the touristic property is surrounded by scrub, not the green vistas that Saidia will be swathed in

Honestly I dont mean to come accross as a ranter , but an awful lot of people have seriously miss judged the uniquness and value of Saidia.

I'm confident the rentals will be robust and year round and produce far better yields that most of the 'lock up and leave ghost towns' one sees accross Europe.

[catara]

Just returned from 2 weeks in Sardinia which bought the value Saidia represents into sharp focus.

Firstly the villa we stayed in was 2.5x more expensive than Saidia.

Southern Sardinia is very scruffy, almost third world in apperance apart from parts of the capital.

So lets consider the limitations of the Sardinian villa:

1) No golf anywhere in the area let alone 3 onsite courses

2) No facilities - just one grubby tiny genral stoe

3) Cramped - packed beaches

4) Gridlocked roads featruing lots of Itlaian road rage. Took 30 minutes to drive 1 mile from the villa to the main road due to the supposed 'up market' area featuring single width dirt tracks

5) No marina, let alone the largest marina in the Med

6) A ghost town outside summer - the total opposite of the Saidia positioning as a year round attraction

7) The guests all said there was too little to do especially for kids

8) No aircon

9) No clubhouse

10) A couple of ok restaurants (Saidia will have at least 20 set around the sparkling marina)

11) No sports facilities - Saidia will have Olympic pools, a small football stadium, many gyms, spas, water parks and swimming lagoons

12) Unattractive in the main. The beaches were quite nice (but packed) yet the touristic property is surrounded by scrub, not the green vistas that Saidia will be swathed in

Honestly I dont mean to come accross as a ranter , but an awful lot of people have seriously miss judged the uniquness and value of Saidia.

I'm confident the rentals will be robust and year round and produce far better yields that most of the 'lock up and leave ghost towns' one sees accross Europe.

You took a stupid holiday in a bad place and paid an idiot price.

Do you want us to congratulate you?

Do your research before booking holidays, everybody and his dog knows that Sardinia has overcrowded beaches and that August is packed with italian holidaymakers.

[Jesus of nazareth]

Just returned from 2 weeks in Sardinia which bought the value Saidia represents into sharp focus.

Firstly the villa we stayed in was 2.5x more expensive than Saidia.

Southern Sardinia is very scruffy, almost third world in apperance apart from parts of the capital.

So lets consider the limitations of the Sardinian villa:

1) No golf anywhere in the area let alone 3 onsite courses

2) No facilities - just one grubby tiny genral stoe

3) Cramped - packed beaches

4) Gridlocked roads featruing lots of Itlaian road rage. Took 30 minutes to drive 1 mile from the villa to the main road due to the supposed 'up market' area featuring single width dirt tracks

5) No marina, let alone the largest marina in the Med

6) A ghost town outside summer - the total opposite of the Saidia positioning as a year round attraction

7) The guests all said there was too little to do especially for kids

8) No aircon

9) No clubhouse

10) A couple of ok restaurants (Saidia will have at least 20 set around the sparkling marina)

11) No sports facilities - Saidia will have Olympic pools, a small football stadium, many gyms, spas, water parks and swimming lagoons

12) Unattractive in the main. The beaches were quite nice (but packed) yet the touristic property is surrounded by scrub, not the green vistas that Saidia will be swathed in

Honestly I dont mean to come accross as a ranter , but an awful lot of people have seriously miss judged the uniquness and value of Saidia.

I'm confident the rentals will be robust and year round and produce far better yields that most of the 'lock up and leave ghost towns' one sees accross Europe.

Didnt fancy Morocco dogbox?

Lets hope you have better luck with your investments than you do picking your holiday resorts

[dogbox]

My Wife booked Sardinia.

No didnt go to Morocco yet, will once the resorts open thier doors as will 10million+ others each year (in 2001 visitors were c2m, last yr over 6m)

[BigLog]

My Wife booked Sardinia.

No didnt go to Morocco yet, will once the resorts open thier doors as will 10million+ others each year (in 2001 visitors were c2m, last yr over 6m)

Wife booked Sardinia, you booked Saidia, you both sound a perfect pair....

Hope she also spells better than you (Their, not Thier).

Edited August 28, 2007 by BigLog

[euroscooby]

Wife booked Sardinia, you booked Saidia, you both sound a perfect pair....

Hope she also spells better than you (Their, not Thier).

Dogbox speaks (and I am pretty sure he enjoys the sport!)

quickly followed by the (un)holy trinity

1) catara

2) jesus of nazareth

3) BigLog

Come on fellas this is all getting dull. It was fun whilst it lasted.

Once we get to moaning about spelling the debate is old.

[Sean]

Dogbox, welcome back! The forum was getting too quiet.

None of us know how the property market will play out in Morocco and Saidia (or anywhere else for that matter).

But what the past year has thrown up are some of the risks that off-plan property investors need to think about when they invest.

On the plus side, property prices have generally increased around the world despite the predictions of a crash.

More recently, though, prices have begun to fall in some countries and Morocco will not be immune to this.

Also, interest rates have risen, shares have wobbled a lot and the US credit crunch may still cause a lot more problems.

At Saidia, there have been significant building delays and confusion around rental arrangements.

Two other key factors during this time are the lack of interest being earned on deposits and lack of bank guarantees.

I've had a look at the prices on the golf villas this week and anyone who reserved at the June 2006 prices wanting to get out now would suffer a loss (after expenses).

Dogbox, given that there isn't really a secondary market yet and won't be for a number of years, when you originally invested would you have been happy with the current state of affairs overall?

[catara]

Dogbox speaks (and I am pretty sure he enjoys the sport!)

quickly followed by the (un)holy trinity

1) catara

2) jesus of nazareth

3) BigLog

Come on fellas this is all getting dull. It was fun whilst it lasted.

Once we get to moaning about spelling the debate is old.

So what's problem? I was just refering to some remarks about Sardinia in August, which is best avoided.

Capisci?

[Jesus of nazareth]

Dogbox speaks (and I am pretty sure he enjoys the sport!)

quickly followed by the (un)holy trinity

1) catara

2) jesus of nazareth

3) BigLog

Come on fellas this is all getting dull. It was fun whilst it lasted.

Once we get to moaning about spelling the debate is old.

Euroscooby

It was fun whilst it lasted??????????????

I have never pulled dogbox up on spelling.

My posts are not a game.

Edited August 28, 2007 by Jesus of nazareth

[euroscooby]

Euroscooby

It was fun whilst it lasted??????????????

I have never pulled dogbox up on spelling.

My posts are not a game.

It was clear from the quote within my post that BigLog was spelling monitor.