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House Price Crash forum > Investment > Overseas property investment
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rorypops
QUOTE(dogbox @ Nov 8 2006, 02:42 PM) [snapback]483973[/snapback]

Ive tried to PM you, but as many other say on here, IT DOESNT WORK for some reason

Will try and contact you on the other forum but must warn I find that forum very difficult to use



Hi Dogbox,

Ive posted my email address on the Saidia forum under the Marina thread.

I know you mightn't want to email me personally from your own email address but perhaps you have another email add you could use to send/recieve mail?

I hope to hear from you.

Kind regards

rorypops
adibrown
QUOTE(catemite @ Nov 8 2006, 06:35 PM) [snapback]484199[/snapback]

[ Offensive text removed by Moderator ]


Can we get this idiot Catemite thrown of the site please?
fws
QUOTE(adibrown @ Nov 8 2006, 07:50 PM) [snapback]484210[/snapback]

Can we get this idiot Catemite thrown of the site please?


Seconded! Reported to mods. I know a lot of people aren't happy about those of us who have invested in Morocco, but being personally offensive is not the way forward - just don't read this thread!!!!
adibrown
QUOTE(adibrown @ Nov 8 2006, 06:50 PM) [snapback]484210[/snapback]

Can we get this idiot Catemite thrown of the site please?


Thanks Big Brother...whoever you are biggrin.gif
dogbox
Morocco - big changes underway.


I found the following points in an article in Newsweek:


* Widespread adoption of European political, judicial and financial reforms

* Womens rights are now amongst the most progressive in the Arab world, giving women equality within marriage

* The EU's open skies agreement with Morocco, Europe's first ever outside its borders

* Free Trade Agreement with Europe to to cover goods, agriculture and services by 2010

* Foreign investment into Morocco doubled last yr

* Moroccan exports into Europe doubled last yr including high value items such as auto parts, cables and software

* School enrolement up from 50% in 1990 to 93, to 93% in 2005

* Adult literacy from 55% to 75% in same period

* Morocco passing business freindly reforms faster than any other Arab nation

* Growth will be 7% this yr up from 4% last

* Inflation 1%

* Unemployment dropped to record low of 11%

* France & Belgium opening scores of call centres. Most citizens speak French.

* 34% of Government budget earmarked for education & training - !!!!!!!!!!!!!

* 6 million EUROPEAN visitors this year up from 2.5 million in 2001.

* 10m predicted by 2010

* CONSTRUCTION ALONG THE COAST TO CREAT 600000 NEW JOBS - Big Log surely this pleases you?

* Europeans now buy more holiday homes here than in Portugal

* Pacha the UK super - club ihas opened in Marrakech - a sign of change?
dogbox

MESSAGE TO RORYPOPS


I cant login to the other site even though I joined some time ago. Therefore I cant see your email address that you posted!

There is no 'contact' facility which is pretty frustrating so I have had no way of advising the mods. This has always been the case so Ive just had to live with problems.

Just to save a lot of tooing and froing Ill explain the history; When I registered a few months back the dumb software would then only let me post as a guest! Others also experienced this problem.
Now I can intermittenly log on as a guest. For the last few days the guest facility has not been available to me for some reason.
I try to re - register but I am informed I cant as 'this email is already in use' grrrrrrrrrrrrrrrrr

There ought to be a facility on all forums where you can quickly and easily 'start again' but software engineers dont seem to have recognised this need - typical.
rorypops
QUOTE(dogbox @ Nov 9 2006, 10:29 AM) [snapback]484472[/snapback]

MESSAGE TO RORYPOPS
I cant login to the other site even though I joined some time ago. Therefore I cant see your email address that you posted!

There is no 'contact' facility which is pretty frustrating so I have had no way of advising the mods. This has always been the case so Ive just had to live with problems.

Just to save a lot of tooing and froing Ill explain the history; When I registered a few months back the dumb software would then only let me post as a guest! Others also experienced this problem.
Now I can intermittenly log on as a guest. For the last few days the guest facility has not been available to me for some reason.
I try to re - register but I am informed I cant as 'this email is already in use' grrrrrrrrrrrrrrrrr

There ought to be a facility on all forums where you can quickly and easily 'start again' but software engineers dont seem to have recognised this need - typical.



Hi Dogbox, my email address is [ Moderator: Email addess removed at members request ] I hope to hear from you.

Many thanks

rorypops
DreamWeaver
QUOTE(dogbox @ Nov 9 2006, 11:29 AM) [snapback]484472[/snapback]

MESSAGE TO RORYPOPS
I cant login to the other site even though I joined some time ago. Therefore I cant see your email address that you posted!

There is no 'contact' facility which is pretty frustrating so I have had no way of advising the mods. This has always been the case so Ive just had to live with problems.

Just to save a lot of tooing and froing Ill explain the history; When I registered a few months back the dumb software would then only let me post as a guest! Others also experienced this problem.
Now I can intermittenly log on as a guest. For the last few days the guest facility has not been available to me for some reason.
I try to re - register but I am informed I cant as 'this email is already in use' grrrrrrrrrrrrrrrrr

There ought to be a facility on all forums where you can quickly and easily 'start again' but software engineers dont seem to have recognised this need - typical.



Hey, guys, my apt in Marina Smir that I bought for 257,000 euros in May is now worth over 300,000 euros according to MRI .... an almost identical one sold for that a week ago.

Well, I sure ain't complaining about Morocco! I'm gonna hold and rent the place on completion. I expect it will appreciate a whole lot more over the next year or so. And I expect it will bring in a tidy rental incomne too.

If I do ever sell, it will be to buy a house here in Ireland .... after prices return to something reasonable. Residental rental yields here in Galway are only about 1.5% net . . . this is nuts!

By the way, I also bought a berth in the marina there. Does anybody know how I might go about renting the thing out . . . I don't have a yacht. Yet!

I's off to Cape Verde with MRI on Friday week to buy an apt there. And off to Portegual at XMAS to buy in the Algarve. Would appreciate any comments.

Hey Dogbox, I can't message you directly. Can you email me at brian2005a@yahoo.co.uk. I'd like to run some stuff by you.


catara
QUOTE(DreamWeaver @ Nov 15 2006, 11:23 PM) [snapback]489662[/snapback]

Hey, guys, my apt in Marina Smir that I bought for 257,000 euros in May is now worth over 300,000 euros according to MRI .... an almost identical one sold for that a week ago.

Well, I sure ain't complaining about Morocco! I'm gonna hold and rent the place on completion. I expect it will appreciate a whole lot more over the next year or so. And I expect it will bring in a tidy rental incomne too.

If I do ever sell, it will be to buy a house here in Ireland .... after prices return to something reasonable. Residental rental yields here in Galway are only about 1.5% net . . . this is nuts!

By the way, I also bought a berth in the marina there. Does anybody know how I might go about renting the thing out . . . I don't have a yacht. Yet!

I's off to Cape Verde with MRI on Friday week to buy an apt there. And off to Portegual at XMAS to buy in the Algarve. Would appreciate any comments.

Hey Dogbox, I can't message you directly. Can you email me at brian2005a@yahoo.co.uk. I'd like to run some stuff by you.


You should not forget BUlgaria too. laugh.gif

Anyway, MRI sells the worst deals in CV. But it seems you are already accostumed to doing business with them.
DreamWeaver
QUOTE(catara @ Nov 15 2006, 11:34 PM) [snapback]489667[/snapback]

You should not forget BUlgaria too. laugh.gif

Anyway, MRI sells the worst deals in CV. But it seems you are already accostumed to doing business with them.

Ya. . .unfortunately I didn't . . .I have two apts in Bansko from MRI.

But as of yesterday, they swear blind that I will get a 5 to 6% yield. Will know soon enough (June).

So, who are the guys to deal with for CV?
dogbox
QUOTE(DreamWeaver @ Nov 15 2006, 11:23 PM) [snapback]489662[/snapback]

Hey, guys, my apt in Marina Smir that I bought for 257,000 euros in May is now worth over 300,000 euros according to MRI .... an almost identical one sold for that a week ago.




Some guys have been flipping thier LeJardinDeFleur penthouses. They paid £150000 early this year and I am told are now re - selling for over £200000, one agent said some have resold for £220000.
People who say Saidia prices are high have'nt grasped the significance of the site.

Almost all the villas have been reserved. Once the final one goes any future buyer wanting to get into one of these golf villas will find supply very limited and no further building is permitted for 15 years outside the site.



catara
QUOTE(DreamWeaver @ Nov 15 2006, 11:47 PM) [snapback]489672[/snapback]

But as of yesterday, they swear blind that I will get a 5 to 6% yield. Will know soon enough (June).

So, who are the guys to deal with for CV?


Gosh, there will be lots of blind people at MRI. laugh.gif Everybody now knows that the yield at Bansko will be negative as there are twice as many apartments as potential
tourists/skiers.

About, CV, look for example at www.caboverde24.com

They have lots and lots of information.

QUOTE(dogbox @ Nov 16 2006, 11:49 AM) [snapback]489920[/snapback]

Some guys have been flipping thier LeJardinDeFleur penthouses. They paid £150000 early this year and I am told are now re - selling for over £200000, one agent said some have resold for £220000.
People who say Saidia prices are high have'nt grasped the significance of the site.

Almost all the villas have been reserved. Once the final one goes any future buyer wanting to get into one of these golf villas will find supply very limited and no further building is permitted for 15 years outside the site.


Do you really think that anybody cares about your flipping of apartments/villas in Saidia?
dogbox
QUOTE(catara @ Nov 16 2006, 01:20 PM) [snapback]489987[/snapback]

Do you really think that anybody cares about your flipping of apartments/villas in Saidia?


I would imagine Saidia investors like to keep abreast of price movements just as people keep an eye on the interest rate on thier savings accounts.

I have'nt flipped, I was merely describing the price rise as demonstrated by a handful of flippers. Could all be made up like a giant conspiracy theory I suppose, but I doubt it.


carbonoid
HI, being Irish I'd like to point out that there was no "war" in the republic of ireland 10 years ago. the conflict you refer to took place in northern ireland, an integral part of the UK, therefore it was a british civil conflict. If there was war in ireland our economy could not have developed so rapidly - it was built partly on our reputation as a stable, peaceful democracy - unlike the UK!
MoroccoMove
I have no problem with flippers per se. I think everyone's got the right to make money the way they see please as long as they don't step on anybody. As for me though, I plan to hold on to my investment in Morocco for a long time. The best returns in real estate are held by those who've held for awhile. If there's anything I've learned is that you just can't time the market.
adibrown
QUOTE(dogbox @ Nov 16 2006, 01:42 PM) [snapback]490010[/snapback]

Could all be made up like a giant conspiracy theory I suppose, but I doubt it.


No doubt, none at all.

Call me old fashioned but I like to see proofother than the estate agents say so/

QUOTE(MoroccoMove @ Nov 17 2006, 10:47 PM) [snapback]490945[/snapback]

I have no problem with flippers per se. I think everyone's got the right to make money the way they see please as long as they don't step on anybody. As for me though, I plan to hold on to my investment in Morocco for a long time. The best returns in real estate are held by those who've held for awhile. If there's anything I've learned is that you just can't time the market.


Thats a lovely logo you have there...I must say you are one of the most "prominent" rampers on the Morocco thread wink.gif
BigLog
QUOTE(dogbox @ Nov 16 2006, 11:49 AM) [snapback]489920[/snapback]

Some guys have been flipping thier LeJardinDeFleur penthouses. They paid £150000 early this year and I am told are now re - selling for over £200000, one agent said some have resold for £220000.
People who say Saidia prices are high have'nt grasped the significance of the site.


What a complete load of bullsh*t.

Of course, if I told you otherwise Dogbox, you'd not believe it - you only want to hear what you want to believe......

Dogbox is bricking it, needing to hype for all he's worth in order to get his money back, right eh Dogbox ? wink.gif
euroscooby
QUOTE(BigLog @ Nov 19 2006, 08:41 AM) [snapback]491451[/snapback]

What a complete load of bullsh*t.

Of course, if I told you otherwise Dogbox, you'd not believe it - you only want to hear what you want to believe......

Dogbox is bricking it, needing to hype for all he's worth in order to get his money back, right eh Dogbox ? wink.gif



What is ********? I see no reason for dogbox to 'brick it'? We are slipping back to useless comments.
BrickingIt
QUOTE(adibrown @ Nov 18 2006, 08:15 AM) [snapback]491015[/snapback]
Thats a lovely logo you have there...I must say you are one of the most "prominent" rampers on the Morocco thread wink.gif


They'll be turning up with 10 foot flash banners soon, just so they dont get lost in the melee.
BigLog
QUOTE(euroscooby @ Nov 19 2006, 01:21 PM) [snapback]491581[/snapback]

What is ********? I see no reason for dogbox to 'brick it'? We are slipping back to useless comments.



Well, which one would you believe ??

A Ramper who hasn't set foot in the country and believes an Agent's say so ??

Or someone who lives here, doing business here day in day out (and no vested interest) ??
phatpawz
For christ sake lets not go round in circles again.

Just seen this on the web - not good news for those investing.

Ryanair has been forced to postpone indefinitely plans to launch flights from Marseille and Frankfurt to Morocco.

The airline has been hit with problems over the signing of a European Union open skies policy that would have enabled flights to operate to Fez, Marrakech and Oujda in Morocco.

A month ago Ryanair had said it would be forced to delay the launch of the new routes until the beginning of December, but this deadline has been scrapped and it is no longer possible to book flights on the affected routes.

Those passengers who had bought tickets will be contacted by Ryanair and offered a full refund or the option to take another flight on its network.

Ryanair’s flights to Marrakech and Fez from Luton Airport will operate as normal as the airline had already received approval from the UK and Moroccan authorities to operate the route.


The Soup Dragon
Thanks phatpawz. Not the news we want, but there should be plenty of time for things to be sorted out before most of us complete on our acquisitions.

I didn't expect this. That's one risk that I don't think any of us considered. I had thought if the route were to be pulled it would be because Rynair could see Saidia was behind plan (not badly behind, but enough to result in fairly empty planes in first few months on this route.)
MoroccoMove
Air France outlines budget airline plan

Air France is considering the launch of a low-cost airline with the promise of routes for French travellers to destinations in Europe and North Africa.

The plan would see the expansion of the Dutch-based Transavia, which is owned by the Air France KLM group, with the first flights set to take to the skies in the spring.

If approved at an Air France board meeting later this month, flights would operate from Paris Orly to tourist destinations such as Morocco, Tunisia and Spain.

Tickets would be sold through tour operators but also via the transavia.com website and the airline sees this as a natural progression.

In a statement the airline said: “This latest initiative would fit in very well with the growth strategy of transavia.com, which has for some time been planning to operate from additional bases outside the Netherlands.”

Air France enjoys a virtual monopoly in its domestic market where low-cost competitors have found it difficult to establish a presence. Earlier this year Air Turquoise went into liquidation, but this move would see it go head-to-head with the likes of Ryanair and easyJet.
dowfire
Help !!
I'm new to all this, and as there seems to be people here that know a great more than me, so I'm after some advice.
I fly to Morocco on Saturday 25th Nov with MRI to view apartments in the Marina Smir area, in the north east.

Does anyone have any experience with these people or similar that could tell me what to expect?
Also any general advice or experience good or bad will be very welcome.
Thank you for your help.
dogbox
QUOTE(The Soup Dragon @ Nov 20 2006, 05:54 PM) [snapback]492467[/snapback]

Thanks phatpawz. Not the news we want, but there should be plenty of time for things to be sorted out before most of us complete on our acquisitions.

I didn't expect this. That's one risk that I don't think any of us considered. I had thought if the route were to be pulled it would be because Rynair could see Saidia was behind plan (not badly behind, but enough to result in fairly empty planes in first few months on this route.)



I have always thought it non sensicle for low cost carriers to even consider catering for Saidia until the site is completed in 2010.

This changes nothing for me. All will resolve in the fullness of time.
dogbox
QUOTE(dowfire @ Nov 21 2006, 12:03 AM) [snapback]492704[/snapback]

Help !!
I'm new to all this, and as there seems to be people here that know a great more than me, so I'm after some advice.
I fly to Morocco on Saturday 25th Nov with MRI to view apartments in the Marina Smir area, in the north east.

Does anyone have any experience with these people or similar that could tell me what to expect?
Also any general advice or experience good or bad will be very welcome.
Thank you for your help.



I dont know the resort well, it was one I dismissed quite early on.

In terms of general advice here's a few factors to consider:

1) Who will you rent the property through? Ideally you will want a choice of well run holiday agents.

2) What is the physical security like?

3) How secure is the builder financially?

4) Who will re - sell the property? Beware, the agent selling you the property will say something like "we can re - sell it for you", however in reality this is often not the case. Ive found many are only interested in the latest new build phases, and even those that claim to have a reselling position then wont even advertise second hand property on thier website.

5) How robust is the proposition? Who will you complain to when you find the aircon pipes on the wrong side of the wall?

6) Renting in winter - who will rent in winter and why?

7) Golf - many development infer that a golf site will be built, but it isnt uncommon to later be informed the golf facility isnt going ahead. Golf is used as a marketing catalyist.


8) IF IT ISNT WRITTEN IN THE SALES CONTRACT IT DOESNT COUNT. Whenever an agent tells me something I then challenge them to put it in the contract. I found that only about 40% of one agents promises actually appeared in the sales contract.

9) Think of everything - if it says you get a garden will it have a lawn, will it have a hedge boundary, are the dimensions set in stone or subject to alteration, will the TV and appliances be 'ready to go' or will you have to set it up yourself?

10) Dont send money to anyone other than the Notary or developer.


In the end when investing in a virgin market I want as much security and comeback as I can possibly obtain so I went for the Kings premier 'Mediterranea Saidia' site. Just one example of the robustness is the fact there will be a choice of on - site rental agents which will make letting a more realistic easy to manage proposition. Also there will be 3 golf courses on - site(to aid renting), whereas so many other Moroccan developments alude to golf being 'nearby' and 'planned' but nothing definite.

Lastly, the agents personality is irrelevant as is what comes out of his mouth. Only contractual cold hard facts count.
Agents often bad mouth other resorts due to the fact they dont have an agreement to sell it. I found a couple of really honest and reliable agents btw, so its not all bad!
The Soup Dragon
Hi and welcome dowfire

Here are some other things to consider:

Think about how the landscape can change where you are considering purchasing. Will you always have sea views? Will other developments pop up next to yours which could reduce desirability of your property both in terms of rental and resale value? (Saidia is a safer bet on this front. There will be no building next to development for 15 years.)

What will set your property apart from the others and make it command a good resale value? Sea views are good. Pool or golf views are better than no views. (See notes Dogbox gave on golf.)

Be wary of guaranteed rentals. These can simply be built in discounts. At end of guaranteed rental your rental income will fall (if indeed you got it in the first place - check track record of company providing rentals.) If guaranteed rentals are offered you should ask what price is without the rental guarantee. This may give an indication as to whether the price with rental was inflated.

Think about the accessibility of the resort. Is it within easy striking distance of an airport? Does airport currently get budget flights or do you think it will likely get them in the future? Look upon the tunnel from Spain as a bonus if it happens. (It may not be created and even if it is completion is a long way off.)

Don't be pressured into making a purchase. If you are serious about the purchase check the reservation fee is refundable and take your time making sure everything (contract wise) is in order before making the 1st installment. Your solicitor will help you here, though you'll find many tips for protecting your interests in this thread. (Clauses to consider including in your contract.)

How financially sound is the developer? You might be better considering an apartment with a larger developer like Fadesa. (Don't know if they have any apartments left in their Kaliba resort, though it is likely they will have other resorts in the pipeline. I can provide contact details for Fadesa if you are interested.)
Radio
dowfire,

MRI got a very bad press in The Sunday Times recently. The article claimed that some sales reps will tell downright lies to get sales; as with most sales people their remuneration is all by commission. Leave your cheque book at home and get everything you are 'promised' in writing and checked by your solicitor (not the one suggested by the agents/developers) before signing anything.
HobieKitten
Hi Dowfire and welcome,

All good comments before but I will add that MRI are notorious for 'high pressure sales' and actually refuse to sell any developments unless they are guaranteed an exorbitant sales commission as well as a level of exclusivity from the developer for a steady stream of product. You may want to read this major expose that appeared recently on page 3 of the SUNDAY TIMES: http://www.askaboutmoney.com/showpost.php?...mp;postcount=14 . As you can see, MRI have been a major player in the Bulgaria 'investment and jet-to-let' artificial bubble farce.

Why don't MacAnthony market and sell properties in Mediterrania Saidia? This is the first Plan Azur resort and many British and Spanish agents have been successfully selling and marketing there for over 2 years. I'm always suspicious of agents that only seem to hype one isolated development or just a couple in a country that has many opportunities; not least of which are the main Government backed resorts....
rorypops
QUOTE(dowfire @ Nov 21 2006, 12:03 AM) [snapback]492704[/snapback]

Help !!
I'm new to all this, and as there seems to be people here that know a great more than me, so I'm after some advice.
I fly to Morocco on Saturday 25th Nov with MRI to view apartments in the Marina Smir area, in the north east.

Does anyone have any experience with these people or similar that could tell me what to expect?
Also any general advice or experience good or bad will be very welcome.
Thank you for your help.


Hi Dowfire.

I was in exactly the same situation that you are in a few months ago. MRI were the first company I contacted and on the face of things they seemed like a good investment. I booked my inspection trip with them but continued searching for other agents and investigating other areas of Morocco, and boy, Im glad I did! I have now purchased in Saidia, part of the Plan Azure development.

I phoned MRI to cancel my trip with them but was told my flights were non refundable so instead of losing them I travelled across to Malaga and met up with another agent, Saffron Villas. MRI still contact me on a weekly basis and I tell them over and over again I am not interested in purchasing from them. Whatever reason you give, you can bet they will have a good answer though! They are very well versed in overcoming customer objections and I believe from chatting with their customers that their inspection trips are very hard sell. They will have answers to every question off to a tee, and I believe their customers sign on the dotted line whilst still on the inspection trip.

I would recommend either Andy Welland of Property Showrooms (fantastic source of information, honest, and reliable agent, will go out of his way to help his customers) or Nicola Judd of Saffron Villas (excellent customer service, very good agent).

I agree wholeheartedly with all the comments Dogbox and Soup Dragon have made. If you do decide to go on the trip, no matter how hard they try and sell to you, I would suggest that you do not sign anything whilst out there. Agents can put pressure on you by suggesting that if you don't sign now you could lose the apartment etc.........rubbish!!

Also, with regards to their furniture packages, I believe the Marina Smir apartment are not furnished and therefore you would need to purchase a furniture package. It is my understanding from chatting with other MRI purchasers that you will be shown a £15k - £20k furniture package but told "our furniture packages start from £3k"!!! Ok, so what do you get for £3k when you're expectations are this fantastic £20k package that you've been shown initially??? (Ps they don't tell you the price of the fantastic package, they just use it as a prop). In a nut shell, you'll be shown the Costa del Sol luxury package but i doubt if £3k would even buy you the Sunny Beach Bulgaria one. Here is a link to it.............

http://www.lifetimeaftersales.com/furnitur...ach_cherry.aspx

Oh dear, that table cloth is something you would expect to find a basic self catering apartment! Not exactly the first class luxury that they are promoting is it?

Anyway, sorry if Ive ramped on a bit. I just hate it when companies pray on people who are innocently trying to buy the best that they can for their hard earned money!!

Best wishes and good luck.
tomshaw
Hi,

I am new to this forum but it is good to know there is such portals for newcomers to learn the pitfalls before they move forward. And as highlighted on this topic there are a lot. I myself am a property broker but before you start throwing eggs i have to agree with you that a majority of the big companies are now set up as huge sales offices. They churn out clients with little care or regard to whether they can actually make them a profit. The job of a broker used to be based on long term relationships and you know as well as i do that if your broker does a good job you go back time and time again. Unfortunately the MRIs of the world now act more like estate agencies and once they have sold to you they have little care in whether you turn a profit and come back a second time. They know their marketing team are doing a stirling job and they will have fresh meat lining up! I would add that it can be hard nailing down exact details such as furniture package prices etc as with all off plan properties there will be alterations as it moves forward. But your broker should be representing you so when there is blatant 'pulling wool over your eyes' then run a mile.

The 'sign now or you will miss the opportunity of a life time' chat still amazes me but unfortunately people will still go for it. You all know as well as i do there are a hundred ways to skin a cat you just need to take your time and see what is right for your criteria. I would always advise to dip your toe in the water first and start with something small. If you find it works go back and do it again there are always opportunities further down the line.

Before i go i would like to comment on your worries on flight routes being cancelled. If i can give one bit of advice it is to make sure you have multiple exit stratergies. Relying on one tourist market etc is not good on the nerves or the wallet.

Good luck T
dogbox
QUOTE(tomshaw @ Nov 22 2006, 11:41 PM) [snapback]494536[/snapback]

Hi,

I am new to this forum but it is good to know there is such portals for newcomers to learn the pitfalls before they move forward. And as highlighted on this topic there are a lot. I myself am a property broker but before you start throwing eggs i have to agree with you that a majority of the big companies are now set up as huge sales offices. They churn out clients with little care or regard to whether they can actually make them a profit. The job of a broker used to be based on long term relationships and you know as well as i do that if your broker does a good job you go back time and time again. Unfortunately the MRIs of the world now act more like estate agencies and once they have sold to you they have little care in whether you turn a profit and come back a second time. They know their marketing team are doing a stirling job and they will have fresh meat lining up! I would add that it can be hard nailing down exact details such as furniture package prices etc as with all off plan properties there will be alterations as it moves forward. But your broker should be representing you so when there is blatant 'pulling wool over your eyes' then run a mile.

The 'sign now or you will miss the opportunity of a life time' chat still amazes me but unfortunately people will still go for it. You all know as well as i do there are a hundred ways to skin a cat you just need to take your time and see what is right for your criteria. I would always advise to dip your toe in the water first and start with something small. If you find it works go back and do it again there are always opportunities further down the line.

Before i go i would like to comment on your worries on flight routes being cancelled. If i can give one bit of advice it is to make sure you have multiple exit stratergies. Relying on one tourist market etc is not good on the nerves or the wallet.

Good luck T



Welcome Tom, I like to hear from all sectors so no egg throwing from me wink.gif

I agree serious investors need to spread thier property asset base, however its as important to focus properly when investing. Certainly some investors buy in multiple hotspots without having done much research so they are in danger of not buying the best investments a country has to offer.

As for the flights, I have no concerns. There are multiple low cost operators circling Morocco, but there are bound to be temporary holdups as things shake themselves out. I would imagine they want to see the major developments progressing before they can make firm comittments.

BTW - why so few agents selling Germany? I know it doesnt have the sun, but its a nice safe well regulated investment enviroment and the market can only go one way now. Why risk Bulgaria when you can buy City appartments in East Germany with year round rent and massively less risk on all fronts?
dowfire

My thanks to dogbox,radio,hobie kitten,rorypops and the soup dragon for giving up their time and responding to my post. There were some good points made by all, and feel I will travel to Morocco with a better idea of what to expect. I certainly will not be signing anything whilst out there but give myself a day or two when I return.
Then perhaps have a trip out to Saidia and compare the different areas.

If interested, I will let you know how I get on with MRI, and the selling techniques they use?

Thanks again.

Regards dowfire
cool.gif
dogbox
I found some villa rental prices on the Med coast here:

http://www.villasofmorocco.com/reservation...sheet.asp?id=18

Low season 4410 euros per week, although it is 5 bed. Note other villas in the area shown at 40000 euros per week!

What does this indicate for the rental values for a 3 bed villa in Saidia? Ok not as big and not facing the sea, but will have benefit of hot and cold a/c, own pool plus use of club house pool, 3 on site golf courses, biggest marina in the med, outstanding facilities, club houses, hospital etc.

My guess £1000 -£1500 per week high season. £500 - 700 low season?
HobieKitten
Hi Dogbox, I think it all bodes well for us at Saidia. I noticed on another chat room or maybe on www.lejardindefleur.com that the king was recently at the site again! The success of Morocco's tourism plan is being personally driven by the King and Saidia must be the torch bearer for the other upcoming resorts like Port Lixus. I'm happy I got in early.
dogbox
QUOTE(HobieKitten @ Dec 6 2006, 10:45 PM) [snapback]503689[/snapback]

the king was recently at the site again! The success of Morocco's tourism plan is being personally driven by the King and Saidia must be the torch bearer for the other upcoming resorts like Port Lixus. I'm happy I got in early.



Exactly - this is a key point so many investors and agents fail to recognise. The kudos conferred by Royal interest cannot be underestimated, add - in the biggest most up to date marina in the Med and you get a pretty unique proposition.
I personally cant stand designer shops / labels - it is meaningless to me, however the fact so many designer brand shops will be on site will further underpin the investment story. Sad as it is, many many people will be influenced by the royal / marina / designer brand combo.
This should mean both rents and capital growth will be bolstered.

There is a story flying round that 60 premiership footballers are buying, news of which will be released next year.
Again this doesnt impress me in the slightest, but it will (if true) be have a valuable knock - on effect, as its simply a fact that many people want to associate themselves with such a crowd.

At the moment Morocco has'nt entered into the common phyche as a luxury viable place to holiday, but it will. Once people get used to the idea and recognise Morocco combines well planned luxury with the exotic plus a short flight................... cool.gif


dogbox
DAILY MAIL Friday 15th:
A page article dedicated to Saidia.

Here are some extracts;


# it follows that if not one but half a dozen Ryanair pilots have chosen to buy, they must know something we dont

# Spain is a lot more expensive plus its been ruined by over development (here here)

# The Hugo Boss, Versace, Armani and Gucci boutiques, laid out 'souk' style, will no doubt appeal to footballers wives, as will the spa

# just a short hop accross the water from Spain, the area will also feel a bit more familiar than Morocco's Atlantic coast. The sea is warmer and calmer, it doesn't get unbearably hot as places like Fez and Cassablanca

# Its an upmarket Centre Parcs, but it's a formula that works

# A round of golf £10 here, but £40 on the Coast del Sol.

# A marina berth will cost a tenth of one at Spain's Puerto Banus.

# Villas sold to British buyers in Jan 2005 for £196000 are now worth £350000

# Morocco has a longer tourist season (than Spain)

# I predict that all the people in huge yatchs on the Coasta del Sol will see whats going on across the water and wonder why they haven't bought in Saidia cool.gif

# Colony Capital which owns the luxury Raffles hotel chain will shape Taghazout.


If the rumour about the 60 premiership footballers is shown in print in January.................. cool.gif
BigLog
QUOTE(dogbox @ Dec 7 2006, 11:28 AM) [snapback]503853[/snapback]

..........Once people get used to the idea and recognise Morocco combines well planned luxury with the exotic plus a short flight................... cool.gif


They'll fly to Marrakesh or Fes........

Saidia, where's that ?? They'll say.

60 Gucci shops, Marina, Golf. No thanks they'll say, I want History and Culture (get that in Marrakesh and Fes).

Besides, Saidia is miles away from anywhere, best be around where the action is........

wink.gif
catara
QUOTE(dogbox @ Dec 21 2006, 01:16 PM) [snapback]512574[/snapback]

DAILY MAIL Friday 15th:
A page article dedicated to Saidia.




A paid page adbout Saidia.
BigLog
QUOTE(catara @ Dec 21 2006, 02:06 PM) [snapback]512601[/snapback]

A paid page adbout Saidia.


Can you provide a link Catara as I can't find anything in the Daily Mail to support Dogbox's claim ??
The Soup Dragon
Most holiday makers don't select their destination based on culture or heritage of the place. They select their destination based on other criteria, such as climate, beaches, facilities, accessibility and cost.

I agree that they have used the term exotic a little loosely. It will be more exotic than Southern Spain and some of its popular islands, but I'd still hesitate before using the term about Saidia. I like Fez and would sooner holiday there or in Marakesh / the Atlas mountains than Saidia, but I realise that most tourists aren't like me. Hence my selection of Saidia.

Thanks for summary of article DogBox, I'll be picking up a copy on the way home. Darn, just realised article appeared on the 15th!
BigLog
QUOTE(The Soup Dragon @ Dec 21 2006, 05:16 PM) [snapback]512742[/snapback]

Most holiday makers don't select their destination based on culture or heritage of the place. They select their destination based on other criteria, such as climate, beaches, facilities, accessibility and cost.

I agree that they have used the term exotic a little loosely. It will be more exotic than Southern Spain and some of its popular islands, but I'd still hesitate before using the term about Saidia. I like Fez and would sooner holiday there or in Marakesh / the Atlas mountains than Saidia, but I realise that most tourists aren't like me. Hence my selection of Saidia.

Thanks for summary of article DogBox, I'll be picking up a copy on the way home. Darn, just realised article appeared on the 15th!



I write this in Morocco dressed in WINTER clothes (wearing them indoors, it's that cold) .....

Let's interpret your first liner generalisation a bit shall we.

Firstly, taking what you say as correct (and I personally don't), it would therefore mean that people would NOT come to Morocco as, first and foremost, Morocco is about Culture, History, Deserts, Camels, Oasis, Souks etc etc etc etc !!!! (so, own goal there by you I'm afraid).

Morocco is NOT about CenterParcs, facilities, Beaches etc. It doesn't pretend to be. Whether it'll have that in the future I don't know, but then if I was in control of Morocco's tourist industry, I wouldn't steer it down that route as the competition would beat it hands down (I'd stick to souks, desert rides, camels, culture etc which it does best).

Also the Climate as you mention as being so important, In Morocco it is NOT the type of sun you want to be in all day but the type you want to keep out of most of the time (you get heatstroke over here very very very quickly, like 20minutes - and that means ANYONE does, including the Moroccans who you'll very often see here 90% of the time holding ANYTHING above their heads to keep the sun off it). So, so much for your round of golf and beach holiday laugh.gif

YES, Morocco has lots of beaches. BUT in MY EXPERIENCE they are very unhygenic/dangerous (or very windy or unsuitable for safe swimming). Yes, they might clean them, but the problem is that the Moroccan's prefer to soil the beach rather than put said litter in bin. Local Education......

So, if I chose a holiday based on your criteria, I wouldn't' for the life of me, choose Saidia. Sheesh, I don't know how much easier this could be !

I could choose Greece and have a better Holiday if you we're to use your criteria as a holiday basis. Trust me, NO ONE is going to go to Saidia for a Holiday other than for a speculative visit/see what the fuss is about (and even Dogbox can't get off his ar$e in that regard !). And they would NOT come back.

Fes and Marrakesh *are* Holiday destinations and good ones at that. No there isn't a beach at either, but people who choose Fes/Marrakesh as a Holiday would know that.

I trust Catara MORE than Dogbox on the origins of this Daily Mail article - Dogbox is a VI (and a not too bright one), Catara isn't a VI (and neither am I - I am trying to give the real side view of what Saidia is all about and to expose Dogbox's ramping and flipping intentions).

Brrrrr......I'm cold.

I'm sorry Soup Dragon, I think you've contradicted yourself. Saidia, isn't going to appeal to your sector of Holiday Maker for the simple reason that if that's the type of Holiday they want, there are a million places they could choose before Saidia.

In fact, I fail to see which Holidaying Clientele would choose Saidia ?? (Don't bother answering that one Dogbox because you haven't got a clue).

So, anyone. Why Saidia ??
rondy
QUOTE(The Soup Dragon @ Dec 21 2006, 05:16 PM) [snapback]512742[/snapback]

Most holiday makers don't select their destination based on culture or heritage of the place. They select their destination based on other criteria, such as climate, beaches, facilities, accessibility and cost.

I agree that they have used the term exotic a little loosely. It will be more exotic than Southern Spain and some of its popular islands, but I'd still hesitate before using the term about Saidia. I like Fez and would sooner holiday there or in Marakesh / the Atlas mountains than Saidia, but I realise that most tourists aren't like me. Hence my selection of Saidia.

Thanks for summary of article DogBox, I'll be picking up a copy on the way home. Darn, just realised article appeared on the 15th!



I perfectly understand the propaganda for Saidia, there are about 3-4 months before the other Moroccan resort start selling and Saidia will retreat into their shadows...
The Soup Dragon
BiLog:- The climate on the Med coast in Morocco is very similar to that across the water in Spain. Yes, its chilly this time of year in the evenings, but that's not news. Look at success of parts of Spain for achieving near year round season. The same should apply for Saidia given the facilities.

Beaches: We agree that away from existing tourist areas the beaches in Morocco are not clean and safe. However, it doesn't take much imagination to see that they will be cleaned up and maintained once enough properties are complete. Do you really think broken bottles and other items will be left on the beaches when so much money has been pumped into the area creating the resort?

Morocco & its tourism: Morocco will continue to cater for both the sun worshippers and those seeking culture. However, the balance is changing with the emphasis being on developing the coastal areas.

I noticed your comment about the 'own goal' with reference to "Most holiday makers don't select their destination based on culture or heritage of the place. They select their destination based on other criteria, such as climate, beaches, facilities, accessibility and cost."
Can you not see I'm referring to holiday makers in general rather than those that select Morocco?

On heat / climate: I know what you are getting at, though 90% and the 20 minutes are wild exaggerations - in my opinion at least. I had no such problems and I need to take more precautions than most in the sun. (Was there for a fortnight in July.) I do agree that those attempting rounds of golf in peak season will find it tough going. However, the golf serves to extend the season.
San Fermin
QUOTE(rondy @ Dec 21 2006, 11:02 AM) [snapback]512785[/snapback]

I perfectly understand the propaganda for Saidia, there are about 3-4 months before the other Moroccan resort start selling and Saidia will retreat into their shadows...

Absolutely right. The speculators will move on.
dogbox
QUOTE(BigLog @ Dec 21 2006, 06:09 PM) [snapback]512768[/snapback]



Saidia, isn't going to appeal to your sector of Holiday Maker for the simple reason that if that's the type of Holiday they want, there are a million places they could choose before Saidia.




So the Kings got it all wrong? According to you his showcase first Plan Azure development is a mistake.

Saidia will be a premier destination and offers a fairly unique vacation proposition. If you cant see it, thats fine with me.

You often ask '"whats to do"? Not a lot right now, but once built it will offer everything most holiday makers want all in one close to the UK resort.
Im an average sort of guy, and for certain most of my average freinds and aquaintances are'nt interested in culture in the main. If we fancy a bit of culture we do a short city break, but most of the time we want rest and relaxation.
People I know that own villas in Spain and Cyprus didnt have 'culture' on thier shopping list thats for sure.

Im pretty sure Dubai lovers are'nt driven by a hunger for culture. rolleyes.gif


Also you underestimate the importance of the 'coast factor'. Not many people Ive met would want a week in a hot inland city like Fez rolleyes.gif

QUOTE(San Fermin @ Dec 21 2006, 09:28 PM) [snapback]512852[/snapback]

Absolutely right. The speculators will move on.



And...................?

The professional speculators make up a small part of the market.
A gem like Saidia will have longevity thanks to its unique market position.

Those moving on will likely find the later Plan Azure resorts more expensive and those further down the Atlantic coast a longer flight.
rondy
QUOTE(dogbox @ Jan 2 2007, 12:28 PM) [snapback]517083[/snapback]


The professional speculators make up a small part of the market.
A gem like Saidia will have longevity thanks to its unique market position.

Those moving on will likely find the later Plan Azure resorts more expensive and those further down the Atlantic coast a longer flight.


I thought you would leave us alone without your constant Saidia ramping. BUt I was mistaken, you returned with fresh forces... smile.gif
The Soup Dragon
Rondy. I share your view that the focus will switch from Saidia shortly (though Port Lixus and the others may need to release prices for a mix of properties rather than simply larger villas for that to be the case.) Would you not agree that Saidia's location on the closer, less windy Med should keep it on most people's radar? If all other factors were the same (and I aprreciate they aren't) then I'd expect most people to opt for the Med over the Atlantic.
dogbox
QUOTE(rondy @ Jan 2 2007, 01:11 PM) [snapback]517130[/snapback]

I thought you would leave us alone without your constant Saidia ramping. BUt I was mistaken, you returned with fresh forces... smile.gif



Ive a few keen hobbies and interests one of which is discussing Saidia.
Some people are obsessed with thier football team, some with thier Dog others with thier Ford Capri.

I like discussing Saidia and evidently some find this space a useful resource.

Get over it!!!!!!! smile.gif
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