I have invested in the Tanjah golf and beach resort, has anyone invested here also , be good to get opinions etc. For other investors who have looked into morocco you might have come accross this resort, i didnt go ahead until planning was granted in december ,but i know alot of investors got involved before which is a bit mad if you ask me. I went though a company www.worldwidefrontiers.com , provided with the facts and had a lot of knowledge with the market. I had some issues with some other forums etc some bad press etc but after looking deeper and got the true infomation , it was a no brainer. If anyone was thining of investing overseas i would have a serious look at this , very attractive, be good to get more feedback also.
Thanks

I would also like to mention that phase 2 is 25% higher due to all the licenses being granted, so to gain this instant return is a great incentive, i suppose this has something with the resort nearly being sold out.

You real estate people are all the same. Do they teach you these wording in school or you just imitate one another

Well thankyou for your kind words, but im far from it, i am a a caterer from bridport , dorset.Sorry if i wasnt the brightest at school . Why is it really hard to to put something honest but get slated for your actions . I am new tyo investing so thought this would be a good idea but looks like i have been mistaken.

Take no notice of Catara / Tacara - he accuses everyone of being an agent!!!! Me included, so you're in good company!

There are two new resorts new Tanjah, Tanjah Marina and Palm Beach. Are you refering to one of these?

Catara is a very bitter person. I can only deduce this comes from a deep insecurity, something perhaps rooted in investment fear.

Thanks for the vote of confidence guys! The resort is called Tanjah golf and beach , not the other two that where mentioned, i havent seen those resorts ,will take a look . I found that all resorts in Morocco where 40% down which sort of put me off, but the resort i went with was only 12% now and 13% over 3 yrs which worked well.also there is a 5yr 10% rental guartentee which was great. So how you guys getting on with any investments any hidden treasures out there.

I went for Med Saidia. As you say its 40% down which is more than I would have liked but the resort gives me the security I need on many levels.
Health facilities are of prime importance to me as I have young children and have had scares in the past where sudden serious conditions strike without warning, such as Croup. The on site small hospital was therefore a significant attraction, I didnt want some 1 room clinic with a part time Doc to rely on.

Also I want maximum rentals. I felt Saidia's 3 on - site (not down the road) golf courses, plus large beach, plus many leisure and sports facilities, cinemas, 500 shop shopping centre, stadium vast modern marina etc would help maximise the appeal of the place year round.
Also liked the fact there will be several on - site rental agents competing for my business and 11 large hotels which will act as a free marketing organ 24/7.

Every developer in Morocco tells us there is a 'palace down the road' or 'the King has a holiday home here'. Mmmmmmmm
In the end the only sites the have the Kings guarantee and direct interest are the 6 Government 'Plan Azure' sites. Again this helped underpin my need for investor and perhaps physical security.


In other words Id rather risk 40% now in return for longterm benefits.
Crucially I also like the 15 year 'no further build' guarantee. Smaller non plan azure developments will all jostle for attention whereas there is a very limited supply of property that cant expand in Saidia.

I did like the look of the Tanjah property as long as the CAD is a true reflection of what is planned - be careful time and time again the designs are just a marketing gimmick. On one Moroccan development near Casablanca the designs where very impressive with domes and towers, yet the finalised drawings looked like an East German communist era block!

Thats not to say Id critiscise others investing in the small one - off developments, just not for me is all. Perhaps Im too much of a worryier!

I have just made a purchase of a 3 bed penthouse on tanjah beach for £104k with 12% down, frontline golf and ocean views. The roof terrace comes with a jacuzzi. The combination of front line golf and clear ocean views has not been offered by any of the larger golf developments as far as i can see. For me this is an outstanding investment. If the finish is of five star standard which is being promised, i think this will resort will be enormously popular. I think many people will not want to stay in the mega city like rsort developments of Saidia and possibly Port Lixus. This will be a very relaxing resort and a good alternative.

The prices and payment structure are unbelieveably good value. I would recommend people get in on this site before the prices go up.

I reserved through Offplan planet and Laurie, the owner was very helpful.

Only drawback I could see is the road. I am going out to sight to see how much this will impact the site before I sign the contract.

I understand it is the old coastal road between Tangiers and Asiliah. there is now a toll road motorway built at the back, but apparantly the locals still use the old road as you don't have to pay.

Has anyone been out there and had a look at this road between the resort and the beach?

Is it very busy?

Do you think it will spoil the development?

I will keep you all posted when i get back from my inspection trip. Can't believe I am going to fly out all the way to Morocco to look at a blo*dy road, but there you go!

http://www.dreamworld.com/tanjah/default.asp


Have a look at the web site. i am sure you will aggree for the prices and payment structure the resort is extremely compelling as an investment option.

Tanjah Resort
Tanjah Beach and Golf Resort specifications will be to a five-star standard, and include, but are by no means limited to, the following facilities:

18 hole world-class golf course
Indoor spa & fitness club
Water-park
Sports centre
Tennis and paddle courts
Swimming pools
Children's club & playgrounds
Beach club with water-sport facilities
Restaurants, bars and night clubs
Open air amphitheatre & cinema
Medical centre
Business facilities
Car rental and transfer office
24hr/365day security
Supermarkets
Tourist shop
Hair salons
Boutiques
Souk market in the main piazza allowing local traders to exhibit and sell their goods

Property Specifications
Tanjah Beach and Golf resort specifications will be to a five-star standard, and include, but are by no means limited to, the following facilities:

Heating and air conditioning
Heat-reflective glass
Fully-fitted kitchens with granite work surfaces
Phone, Satellite and Internet connectivity
Fully-fitted wardrobes
Safes in all units
Storage areas for owners
Appropriate parking facilities
Jacuzzis on terraces in the case of Penthouses and Villas
Fitted bathroom suites with high specification accessories
The specification of the development is constantly being reviewed and improved.

Property Plans
Each block is split into 18 x 2 bed apartments and 3 x 3 bed penthouses. Apartments are 85 sq. m. with a 20 sq. m. terrace. Penthouses are 100 sq. m. with a 60 sq. m. terrace

www.offplanplanet.com

Ask for Laurie Hain.

Boomorbust and forex&property

When this development was releasd I was keen on it. A few weeks after it was released I visited Morocco for a fortnight (early July) and there was nobody there that could show me the site for Tanjah. That put me off. I liked the payment plan (better than it is now with 30% being paid into an escrew account over 3 years, balance on completion.) I also liked the layout and felt it was, on paper, that little bit better than PBGR et all on the North Atlantic Coast. Since then there has been a fiasco whereby potential purchasers were taken over for a party of sorts where various permissions were expected to be unveiled. Most on that trip were disappointed. I understand more pieces of the jigsaw are in place just now, but urge caution. That obviosly applies to any investment, its just that there have been shall we say, hiccups, with this one. It sounds like you are both aware of the difficulties this development has had. One final opinion from me:- I think this strip of the Atlantic will become one long stretch of developments that border each other. If that's the case then Tanjah won't be the tranquil spot some hope it will be. (This strip will cover a larger area than Saidia and likely be more densely populated with tourist accomodation.)

Yes, i have spoken to a number of people about this. I understand the launch was badly handled and planning permission and building permits weren't in place. Planning permission has been granted and building permissions have been agreed and they are awaiting the certificate, which they expect to get any day now. Once they get this, the development units are going to be increased by 25%.

Until this is in place the deposit is 100% refundable.

Planning permission certificate

http://www.dreamworld.com/tanjah/pdfs/author_develop.pdf

Frequently Asked Questions (from Dreamworld website)

Q. Is the deposit refundable?
A. Yes, up to exchange of contracts.

Q. What deposite do I require to exchange contracts?
A. 12% of the purchase price payable on exchange and 13% can be paid via a deffered payment plan, which means you can pay monthly, quarterly, half yearly and annually in advance.


Q. Is there a rental guarantee?
A. There will be a guarantee package with a rental value to include 10% of the purchase price.

Q. What sort of capital growth has been experienced in this area and what are the prospects?
A. Between 20-25% per annum in Tangier, nationally between 15-25%.

Q. Are mortgages available, if so whom are they done through and what types are available?
A. Yes, the agreed mortgage is 75% of the purchase price over a period of 15 years with a grace period for the first 2 years. More details are provided in the mortgage section. This unique mortgage package is only available through Dreamworld.

Q. Is life insurance mandatory on the mortgage?
A. Yes, life insurance on the mortgage is mandatory.

Q. Are copies of the purchase contracts available and easily obtained?
A. Currently being finalised and will be available by December 2006 to February 2007.

Q. Are the contracts assignable?
A. Yes contracts are assignable.

Q. Are there stage payments available? If yes, is a deposit needed and are details of this easily obtained?
A. Stage payments are available through the Deferred Payment Plan (DPP). The standard reservation and admin fee are required and then three months (if using monthly scheme) are payable in the first instalment. Details of this can easily be obtained off the Dreamworld website or through an introducer.

Q. What are the anticipated purchase costs?
A. Buyers should allow for approximately 6% of the purchase price or up to 7% if requiring a mortgage.


Q. Has the Authorisation for the Resort been granted?
A. Yes, on 16.12.06. The Authorisation can be compared with the Outline Planning Permission granted in the UK.

Q. Has the Construction Licence been granted?
A. No, but it is expected in March 2007. The Construction Licence can be compared with the detailed Planning Permission granted in the UK.

Q. Does the Developer own the site?
A. Yes and it is registered at the Land Registry.

Q. What does Dreamworld offer for this Investment?
A. Dreamworld offers:

The opportunity to purchase at preconstruction licence prices.
Exceptional mortgage package.
Exclusive Rental package.
Furniture package.
UK legal representation.
Low acquisition cost.
Re-sales service
After sales service.
Case-tracking facilities.
Online web cams to keep you updated on build progress 24 hours a day, 365 days of the year until final completion.
5 Star European standards signature developments.
Q. Will there be a price increase?
A. Yes, upon the grant of the Construction Licence prices will rise by about 20%.

Q. Is VAT included in the purchase price?
A. Yes VAT is 14% and is included in your purchase price.

Q. Are there bank guarantees for the monies paid over?
A. Yes.

Q. Is there any bank comfort letter and the Developer's bank?
A. Yes, you can view the comfort letter in the docmentation section.

Tanjah Beach is going to be one of 5 adjoining golf resorts on the Atlantic coast between Tangiers and Asilah.

The resorts are (in order from Tangiers)

1. Paradise Golf & Beach Resort
2. Tinja(no plans yet)
3. Al Houara
4. Tanjah Beach & Golf Resort
5. Cote De Lune(no plans yet)

I think this is going to make this area a fantastic and very upmarket destination and just a hop over the water from spain.

The Tinja resort is Emaar and will have a large marina, attracting the very wealthy to this area. As these resorts border each other, I think people will use the golf and other facilities of the neighbouring resorts interchangably.

One word of caution. Make sure that any unit you reserve in a resort does not have views of the ocean blocked by other units in a neighbouring resort. It is easy to think you have clear unobstructed sea views, when in reality the neighbouring resorts units are blocking your view.

I was told last night that the build license for Tanjah beach will be recieved in 2 weeks. This will be the catalyst for the 25% price increase and the release of phase 2.

[quote name='boomorbust?' date='Mar 2 2007, 08:44 PM' post='567819']


The Tinja resort is Emaar and will have a large marina, attracting the very wealthy to this area. As these resorts border each other, I think people will use the golf and other facilities of the neighbouring resorts interchangably.




Tinja will not have a marina.I was speaking to an agent a few days ago who told me the marina will not be going ahead

--------------------------------------------------------------------------------

I have been informed that the dreamworld have recieved the construction license , prices will be increasing by 25% any day now. Good news for investors who have already bought there, if not and you are thinking about it you still have till end of next week. Any info visit http://www.worldwidefrontiers.com/properti...hgolfresort.asp you will get most info from the site but would be useful to talk to Ian he will be able to help you with your enquiry.

Pointers only 12% Deposit on exchange
13% over 3yrs interest free
5yr 10% rental guarantee .

I was one of those early investors in the tanjah beach but withdrew after we could not get anyone from the agent to have the grace to show us the site (I should add that we had reserved 3 apartments which i think should have warranted SOME attention). Instead we got stories...& that kind of summed up our experience with the whole thing ...story after story...

We have changed tack and have gone for a renovation project that we can start making rental incomes on PDQ as a result I have been out to Asilah 5 times in the last 4 months.

Someone asked a question re the road...it is busy? This is the main road so yes it is busy (yes even in these winter months) & In July & August I can only imagine what it is like as the international festival at Asilah gets underway. Do not let people tell you it's a side road & everyone uses the motorway, they won't pay the tolls so they only use it is the Asilah road is jammed.

I think the area is lovely & we have seen for ourselves that a lot of external investment is being made in the area...just ABT (Anything but.....)

I admire your spunk as they say. It takes a lot of drive and bottle to do this.
I fancy doing some development at some point with some like minded individuals.

An agent put me off Asilah. He claims a huge low cost housing scheme is being built here which he described as 'Morocco's Broadwater Farm'. I think he said over 100000 homes, sounds a lot to me.

yes well we are not expecting it to be easy... but Asilah is very attractive, with an established tourist trade & the medina is lovely & is attracting a lot of Spanish developing these old houses. There are even visitors through the winter as we have seen for ourselves (& the weather can be a tad changeable!!)
Re the local housing project. It is true that there is a new housing project currently under construction however this is on the south side of the new town not in the old medina (about a mile away). I don't know the actual numbers of units but it didn't look that scary when we saw them going up.....but I do know it's got to be better than the shanty town that poorer families are forced to currently live in & that are such a "feature" when visiting the local market about half a mile away. I am no bleeding heart but jeez who doesn't want kids to have clean running water? Morocco is a poor country & they need decent housing...personally we prefer to see an integrated community at all income levels rather than a gated community which to our taste is sterile...& also does not reflect the rather joyous way Moroccans "mix it up that is one of the reasons we have purchased there! Hey is that is partly funded by foreighers coming in & snapping up new off plans etc I'm all for it!!
I see from some of your previous postings that you are an experienced investor but that you invest "with the head" & do not visit a lot of the time (you must be brave!!)....I would not recommend that in this instance as I agree with omne of the previous posters - "buy what you like & feel comfortable with" also a grasp of Arabic, French or Spanish is a must if you are to make sense of what's going on. NW Morocco is really "buzzy" though & if you can take a trip out there I am sure you will find lots to interest you outside of Saida...go on dogbox.... get out of that armchair & go exploring down the Atlantic coast...you know you want to!!!

Hope to fit in a visit this year.

Wondered what your take is on the Political scene? The reason I ask is that the owner of the Gym I use keeps telling me Ive made a big mistake and that tensions are about to get a lot bigger, that no one will holiday in Morocco.

Dont worry Im not swayed by him, just wondered what your 'on the ground' experience brings.

My own opinion is that people learn to adapt and accept potential risk, hence the sucess of Dubai and Turkey as well as Egypt as tourist magnates and that although some people will always avoid any risk, others simply get on with life and dare I say quickly forget nasty events.

In the end I think people will see a lot of quality holiday accomodation appearing in the brochures, note the short flight time and hey presto Morocco will become one of the leading destinations for Brits within about 6 years.

Dogbox, in January I sold a flat less than half a mile from Broadwater Farm. It quadrupled in value over a 13 year period and I only missed one month's rent in that time. Perhaps its a sign - I should reinvest in Asilah!

Yes I agree with your take on both risk & timeline.

Re the political situation....I have lived in other Islamic countries with different political systems but other than that I am no analyst so this is just a personal view...in a country as poor as this there is always going to be socio-economic changes as investment moves in (& there are some big players in the area) & it takes time for economic benefits to trickle down.

In addition there have been reports of thwarted terrorist attacks on tourist locations in Morocco very recently. Given the situation I expect these to continue.....just as I expect the threat of this type of attack in ANY OTHER COUNTRY. However what makes the Moroccan threat more immediate is:
a) the amount of investment being seen to come into the country & subsequent challenges to culture & custom
changes that the king has made impacting on the power elite/political structure causing dissatisfaction
c) upsurge in Islamic fundamentalist activity - potentially explosive when linked with poor living conditions.
d) There is a general election this year & there is a concern that a more islamic focussed party will gain power however it should be noted that these are NOT considered fundamentalist, just more traditional.

I am optimistic in that:
a) the king appears to have a vision for his country & has moved slowly & cautiously trying to take his people with him. he also enjoys popularity with his people (from what i can tell). & this relationship will be crucial in keeping the lid on things
The country has a long standing, but discreet relationship with the US (no, I wasn't aware of that either until recently)
c)Moroccan police don't mess about (yes this IS a double edged sword)
d) To quote an old lebanese saying "not all fingers are the same"...the Islam practised in morocco is not of the fundamental kind although there are reports of radical imams in Fes.
e) A lot of the investment in the country appears to be generated from other Arab countries, notably the emirates

I do not want to play down the threat in any way, but I do get fed up with the kneejerk reaction to any mention of investment in an Islamic country, so I would love to know in why your gym owner thinks as he does...is he Moroccan? Also I am sure there will some of you with different views & I'd be most interested to hear them.(reasoned debate only please ..no slagging!)

Forgot to mention...I am neither Moroccan nor a Muslim in case you think I might be biased in my assessment.

I appreciate your considered balanced response.

The 'critical' guy I know is forever in bad debt and has never made a decent fist of anything, so I take everything he says with a pinch of salt.
People forget that the worlds 16th biggest economy is Muslim - Malaysia. As you say not all fingers are the same.

Sounds like you should ignore the owner of the gym DogBox! Don't know situation in Asilah for new development of social housing but 100k units does sound steep. If you are taking A road a few hundred yards back from the ocean you will pass through Asilah in little more than a minute. Can't imagine development being of this scale and what esmeralda has seen (more recent than I have seen it) suggests it won't be. Asilah medina/harbour and street behind it with restraunts aren't my cup of tea, but are and will be popular day trip for those holidaying on North Atlantic coast. (I much prefer he buzz in Larache, though not sure it will have quite the same atmosphere once its been cleaned up for day trippers from Port Lixus etc.)

Esmerelda: Share many of your views and in particular with regards giving something back to the Moroccans. It isn't simply that these tourist developments will bring jobs to locals. As you have said, part of the proceeds are going towards social housing, improving infra-structure etc. I see this as a positive thing for Morocco / Moroccans and and it should also help our acqusitions appreciate in value. Its hard to think of an investment that does more for the place you are investing. If you are still visiting HPCF 6, 12, 18 months from now it would be interesting to see the progress of your renovation project.

Re the housing units - I wonder if there's a couple of extra zeros in there by accident? The development is to the south, from what I could see from the main road was terraced housing and actually on the coastline - which I cheer on ...that not all coastal developments will be for tourists with the locals shoved to the "back of the bus" so to speak!!
Yes Asilah is a small town not as buzzy as Larache but then I hear Larache is currently a bit rough?? Authentic maybe but maybe a bit too much for us as first timers in morocco.

Re the renovation story, I am happy to share our experiences warts and all & if anyone is interested please let me know & I will start a separate thread maybe?
To date we have gone through the buying process under Islamic law & will apply for the title shortly. We are using local people to do most of the work as they understand how to work with the local materials far better than we ever could an labour is very cheap.
We are looking at a renovation rather than a complete rebuild & trying to maintain the format of the traditional house just using the space in a different way therefore we are advised a a programme of 3 months will do the job...personally I am doubling that & then adding another month on "for the pot".
We have appointed a project manager, sourced an electrician, plumber & builder (still waiting on a carpenter) & will agree a schedule of works & costs shortly.
We are trying to get them to work to specific tranches of work to allow us to check at regular points that all is as it should be and noone's pulled a wall down that they shouldn'T (!).
In case anyone thinks this is all terribly organised... I do not expect the fun to start until the workers are on site & we are in the UK...that will be the challenge! Anyone want to bet on how many things go wrong???

The price of apartment in morocco is sold by square meter with full price for flat and half price for the terrace.

Square meter is about 5000 DH to 10000DH ( £330-£660) or Max to 12000DH (£800 )..

The apartmet in Morocco never never go up in price expect in Marrakech because they were very sheap
in the past .

For example,
the most expensise apartments are located in casablanca with the price of 1000DH per square meter in Al Marrif or Anfa, 7000DH in 2 Mars,
and 45000 Dh so called near to PUBLIC AREA ( SHAABI) .

When you are ready to buy, you may have to pay 20% under table ( The owner is trying to avoid paying tax , it is commun in morocco).



It is illegal to take the money of the country.

Check the local newspaper for price of the appartement and remember that used flats should be sheaper than the new ones.

http://www.menara.ma/annonces/Immobilier/index.asp




kal..

I really don’t know too much about the north of Morocco, we just there the summer like every Moroccan.
Four years, I bought a flat in city of Casablanca; the price went down as usual like every used apartment.
It seems to me that beach place is made for tourists or money laundry from the drugs, and Moroccans can
afford a vacation for even £1,000 per month in summer season.

Most of the French are buying Riads to be used for B&B like http://www.riadmimouna.com/En/index2.htm
it is an excellent Investment but you have to work hard.

>>I do not think expat owners selling on are subject to this rate of tax so this issue >>does not apply.
I never heard about special deal for expat or Moroccans holding European citizenship.
you have to do a special procedure to get your money out the country.
see this link for a good deal tfrom London Gatwick to Marrakech starting
at £125.96 R/T .. http://www.atlas-blue.com/


The market of Marrakech is overpricing because of the corruption of ERAC. You cannot even buy new 2010 building or villa.
They are all reserve for the big managers and middleman, and you have to pay them £20K-£30 to switch your name on the list.
Big Market of corruption..

Good Luck..

I am convinced that when the low cost flights from all over europe start to arrive, the newly built 5 star hotel's marketing machines kick in and people start to visit Northern Morocco and see it as a beach holiday destination, then property prices will go through the roof.

I think the market for rentals will be europeans. I think as the Moroccan economy strengthens, then you may start to get Moroccans renting beach front property for a weekend escape from the city etc, but this is some years off yet.

Putting my head on the block, I expect prices of Tanjah to double in 3-5 years and triple in 5 to 7 years. I expect rental to be low for the first year or so and then as the low cost flights arrive and people see N Morocco as a beach holiday detination, I expect the rentals to slowly rise up to the same levels as the rest of the meditaranean.

I think in 5-7 years, you will be able to rent out a 2 bed apartment in Tanjah for £500 / week. With the golf and other facilities, i think you will have a long season and i think if the unit is marketed properly, it will attract very high yields.

This is not going to happen over night, but will start once the flights arrive and people see the final product. As word of mouth spreads, the demand for the resort will improve and prices will rise.

The reason why demand for morocco beach front is not high at the moment is because Morocco is very difficult / expensive to get to. Change that and prices will start to rise. If the low costs flights don't materialise then our investment will look very shaky, so that is the punt.

On a separate note, I spoke to Tony Nunn, a director of Dreamworld, the developers of Tanjah to ask about the road. He said that there will be 4 roundabouts with raised curbs which will mean the traffic will have to slow down as the cars lorries won't be able to drive throuh or over the roundabouts. I think this will do thr trick to get the bulk of the heavy traffic off the road and onto the motorway.

I also spoke to Phil Morris the solicitor at Tanjah Beach to discuss my concerns about not having the option of appointing an independent solicitor (see separate thread - http://www.housepricecrash.co.uk/forum/ind...showtopic=45492 )

He told me that the developers have decided to put a lift and underground parking for 22 cars into each of the blocks, which is a massive plus and will keep the apartments in keeping with the european standard 5 star resort it is meant to be.

Exactly. People make the mistake of saying 'Morocco will never reach Spannish property prices'. In the end the large gated resorts will offer a fantastic beach and golf combination as close as Spain is and that is actually the top and bottom of it. Add in the vastly superior scale of leisure facilities in the Plan Azure resorts and you what I think is a unique opportunity.

I've seen figures that show beds lag the increase in tourist numbers by a long way. This is only going to get worse as tourism numbers are rising rapidly and the beds not keeping pace.

Someone I know bought a villa in Turkey last Spring. He said the place became a ghost town by late Autumn and the winter was far too chilly for comfort.
This highlights the fundamental difference between Morocco and say Turkey. Northern Morocco is a lot closer (convienience is such a vital factor), has better more stable year round weather and the giant Government resorts will pull people year round thanks to the facilities on offer.

I also spoke to Phil Morris the solicitor at Tanjah Beach to discuss my concerns about not having the option of appointing an independent solicitor (see separate thread - http://www.housepricecrash.co.uk/forum/ind...showtopic=45492 )

You will be really crazy if you use lawyer to buy a Moroccan property. Find well know notaire for only £200-£400.

Although you do not legally require a solicitor in order to buy a Moroccan property,
it is highly reccommended, as the notaire will not provide you with independent legal advice.
You should also have all three contracts translated into English by a proFezsional firm, therefore ensuring that both you and
your lawyer are fully aware of what you are signing. It is also advisable to inspect your new home before you sign
the final contract, just to double check that it is still in the same state as when you agreed to the sale.

Properties without the correct title deeds are commonplace in Morocco but, despite
what you might hear, it is imperative that you do not purchase a property without the
correct documentation. If you are not in possession of the title deeds,
you do not officially own the property – regardless of how much you paid.


See this when Buying a Home in Morocco ..

http://www.buyassociation.co.uk/property/t...in-morocco.html



We did see a big problems in Marrarech after 9/11. Poeple lost thier home and jobs.

Today news is Two bombers attack U.S. targets in Morocco,

http://www.alertnet.org/thenews/newsdesk/L14524951.htm

or

http://news.bbc.co.uk/1/hi/world/middle_east/6555177.stm

Well, hate to be a bragging know it all, bit i think i predicted that Tanjah would double in 3-5 years. They have just increased the prices of a 3 bed penthouse by 75,000 euros, almost 50% increase on my 157,000 euro purchase price and with 12% down and further 13% over 3 years, i think this investment is streets ahead of any other investment i have seen in Morocco to date, especially as I am still to hand over my initial 12% investment!

My initial forecast of doubling in 3-5 years and trebling in 5-7 years could look a little on the conservative side!



Can anyone top this?



Yours,

smug g*t.

Just wait until you try to sell it. You won't look so smug then! LOL.

Tom.

An increase in the developer's asking price should not be taken as an increase in the real value of your investment. A profit is only achieved when the cash is in the bank; as yet there does not seem to be much of a resale market in any of the new Moroccan developments, so don't get too smug.

Well why dont you buy some more, cant go wrong there

It might be a good investment if things continue the way they are. What will the properties be worth if there are no more British buyers? These overseas developments funded by rich Europeans are mostly bubbles in themselves. If things go t%ts up and the European money dries up, will the properties be worth nearly as much to the locals? Ofcourse there's a place for risky investments in most investment portfolios - but rolling high with all the chips down is dumb whether you win or lose.

Mmm I'm afraid I tend to the slightly cyncial with this development. I passed the Tanjah site 3 weeks ago & I saw no sign of ANY progress at all. Now originally when we looked at this, we were told that building would begin last Nov. Just what is to stop the developer hoiking the price up again later in the year, pulling more investors in etc etc and then all of a sudden you have a development that is not going anywhere & in the meantime the agent has had all your deposit monies turning over a nice bit of interest. I don't say this will happen in your case, just that if I had continued with this investment, I would have had 3k sitting doing nothing for over a year now. There have been too many developments that have had too long a gestation period in morocco for my liking so i prefer something tangible to tanjah (ha!)

This example of pure pessimism comes up all the time. It really is a prime example of red - necked ignorance .

All this bubble twatting on is school boy stuff, just biggotted small mindedness.

As if all the money will dry up - 'run far the hills boise and git yer gun, it's gonna git bad I tell yer'. For a start European economies are not all in sychrony, the Germans for example are emmerging from recessionary times..... and what was the effect on Spannish property - zilch.

Many of us don't need credit, secondly the number of Europeans becomming wealthy / well off is rising rapidly not least due to the hoardes of former communist states getting comfortable with capitalism, plus net immigration from the rest of the world plus prime beach realestate is very much a prized commoditiy.

Sure there will always be suckers over paying for second rate real estate but dont let those incidents rule your investment compass.

Honestly this type of pessimism has always existed, so please please reocognise you are exactly the same as those that said Steam engines would ruin us, or that TV was just a passing fad, that supermarkets were doomed to fail, that the minimum wage would lay waste to the economy, that Japan in the 1970s would steal all our jobs from which we would never recover (mmmm, yet we are richer now that ever) OR THAT ROCK N ROLL USHERED IN THE APOCOLYP'S.


Anyone feeling pessimistic now in these times of plenty is truly spoiled and self obsessed, not to mention being completely irrational.

Has anyone pulled out or are considering pulling out of this investment? I am close. Some people have reserved for almost 2 years on this site and we are still waiting for contracts from the developers. They churn out a list of excuses, the current one is that the solicitor won't issue the due diligence report needed for the contracts until they have seen the land registry report.

I don't buy it. Firstly, the solicitors were appointed by the developers and are not independnet so i don't trust what they say. I think the developers are waiting for enough units to be sold to ensure the commercial viability of the project rather than start and then run out of money half way through from not having sold enough units.

Luckily, the 3000 euro holding deposit is fully refundable, and i am now thinking i should bail to make sure i am at the front of the refund queue before the trickle of investors who are currently pulling out turns into a stream and then a mass exodus in the summer.

would appreciate peoples thinking if they are involved with this site.

mmmm....see my previous post on this thread on this development. we put a deposit down in july 2006 then withdrew in DEc 2006 after we had been given the run around trying to see the site & feedback from the initial tranche of investors on the first inspection visit. I know several of the early investors did the same.
We liked the area though & did a renovation project in asilah which is now renting out for us nicely this year. I have followed tanjah "developments" with interest however - particularlyclaims that they have done things on site...security, broken ground etc. I also see that there is a 2nd phase of the units now planned & that was never stipulated in the first offer.
All I can tell you is that when I passed the site a month ago, there was no change at all to the site - no work had started & there was no evidence of any "security" on site - after all, for what - there is nothing to secure!
I do know that regulatory processes can be tortuous in Morocco but I would have thought that they would havebeen in a position to move by now. Have they given you a date at ALL? The other thing I would question is with the delayed start date and the 2nd phase - what actually would be the completion date? There are other developments, (on offer at the same time as Tanjah launched y the way), that are closer to Asilah, and that are in construction - why don;t you take a look at those? They don;t offer the same low cost entry as Tanjah but they are at least off the paper stage now.

I think its clear that the '2010 plan azur' is now pretty much dead in the water - the 5 new resorts spread around the coast of morocco will not see the light of day after the farce that saidia is turning in to and the now obvious non-show in tanjah. The credit crunch has hit and quite simply the demand has dried up thus the supply will not be arriving....

1 wouldn't write it off just yet. Tanjah was never part of the plan azur development. There is a tremendous amount of development going on in Morocco. ... I have seen that for myself in Marrakesh, Tanger, Asilah & Larache ... also Mazagan , which I think is plan azur, has started further south near El Jadida. I believe Tinja development is still going ahead in the same area as Tanjah.

Also Brits don't make up the bulk of visitors to Morocco...those developments targetted at those with a relatively high discretionary spend (eg Tinja as I understand the concept) will I believe continue...does anyone know different?

Esmerelda. Continue to follow your posts with interest and smiling looking over posts on this thread. A year ago you were contemplating a renovation project and a year later you are promoting the finished project for rentals. My job may take me to Northampton (near Stansted.) If it does I may follow in your footsteps, taking up the challenge of a foreign renovation project.

How’s the social housing South of Asilah looking now? When I passed by in summer of 2006 it was early days and the area from the main road (slightly south of Asilah) and the coast was to be developed / under construction. Is it complete / taking shape well?

Hiyah Soup-dy-doo!
Yeh- we had our first guests for Easter & they loved it & we are booked through June to end of August so fingers crossed!! I was in Asilah a month ago - but I had my eyes on the road as I was driving!! so I didn;t take much notice of what was happening south of the town. From memory on a visit just before christmas, the social unit shells looked as though they were up. The bulldozers were in creating the infrastructure for the roads for the tourist development there (is that asilah beach or asilah golf ?- am never sure!. Just to the north of asilah was going great guns also. Then in the centre of asilah there is a large apartment complex being built right on the corniche. ..these consist of large 3 bed apartments & I think were all sold out before the developers even broke ground.
Someone has also started breaking ground opposite the northern part of Tanjah on the side nearest the sea but I think this is individual villas as it looks pretty small - still you never know!
There is starting to be a buzz about Larache so i went & took a look. The town is nowhere near as grotty as my moroccan friends had made me think but the medina is pretty eugh BUT individual developers are moving in so I expect to see prices there increase steadily next year - but they had already moved beyond our reach. We will stick with Azemmour & start saving for a soopah doopah project in a couple of years time I think!
let me know if you get on the renovation kick!