My next target is Morocco, here's why:
* No income Tax on the rent (double Taxation agreement applies so no UK Tax will apply) - note I am only looking at high quality property within a low rise, low density mega resort (classy though) with 3 18 hole golf courses, hospital, equestrian centre, polo pitch, water parks, gucci and other leading retailers on sight, 800 berth marina, and my property has a 60 year mooring berth (very rare) all fully managed including the rent side, forested green area, full security, restaurants, cinemas, Olympic pools, bowling alley, shopping centre - all very tastefuly done in Moroccon style by UK and Spanish builders - so renting will be easy).
*Capital Gains Taxed above £60k @ 20% in first 5 years. Between 5 - 10 years its 10%. After 10 years its 0.
*The King has announced 'plan Azur', which aims to have Morocco become a premier destination by 2010.
*Huge developments - Dubai style are underway backed by none other than Emaar Properties
*An 8km tunnel will link Gibralter to Tangiers by 2008
*The 'stars' are moving in. The Beckhams, Jude Law and Brad Pitt have recently bought - this is important, it sets the trends.
*An 'open skies' agreement has been signed and the Government guarantee world class airport upgrades by 2010.
*Ryan Air have announced flights to beginn by this summer
*White sand, huge beaches so much more attractive than the black sand Canary Islands and over 1 hour clser.
*'Exotic, yet close'
*Huge infrastructure improvements underway. The Americans are investing billions in new ports.
*Its just a hop from Spain BUT PRICES UP TO 10 X LOWER
*Im buying off - plan yet only part with 40%. The balance in 2009, yet I can sell on at any point. So my 40% leveredges me into 100% exposure to the market
Once the public begin holidaying here 'en mass' the stampede will begin. IT WILL HAPPEN, JUST LIKE MEXICO HAS (and Mexico is much farther away).
Spain is yesterdays news and Morocco is almost as close.
I think Im about to sign up for a villa - www.lejardindefleur.com (more MEW Im afraid). Within the most prestigious development - Saidia. £180k right on an 18 hole Golf course (3 to choose), marina and u get 60 year mooring rights for £10k!!!!!!!
Olympic pools, gated community, cinema, polo, equestrian centre, on the beach(6 km white sand), backed by snow capped mountains, forested area, plentiful water from mountains, on site Swiss rental company.
Villa has own pool. Fully serviced. Free membership to the club house. £180K!!!!! Totally safe gated development, all low rise, hospital on site.
Gucci and many others already purchased the shops surrounding the Marina - I wonder why?
The same at La Manga in Spain would be £1m +.
Rent for £4000 per week or more once site becomes well known. £60 per month maintenance charge includes pool maintenance and gardener. I think it will rent all year given the Golf and huge variety of quality facilities and year round climate. But even if it only rents for say 35 weeks and even if I only get say £1500 per week (which wont happen), the yield is still exceptionally high.
The bit I really like is only having to part with 40% for 3 years. Ok no yield on the 40% so I loose say £3600 pa interest, but I genuinely expect the value to more than double over 3 years. I look at property all over the world and have found nothing of this quality for the price this close to home. Places such as Bulgaria are way less important given the short season and lack of feel good sun factor.
Villas come fully furnished right down to tea spoons.
This post has been edited by dogbox: 10 April 2006 - 12:17 PM