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House Price Crash Forum

catara

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Everything posted by catara

  1. MOrocco was just late to the real estate party. They counted on high prices in Spain to sell overpriced properties.
  2. Dogbox, why do you keep comparing with the Polaris World properties? Everybody and their dog knows that those properties are a BIG fiasco, hugely overpriced, unhabited and where everybody wants now to sell for a loss. I am not a huge fan of Spanish properties at current prices (I might change my view if they drop by 30%-40%), but there are still infinitely better deals than Polaris World.
  3. It was 1.94 before the anouncement of .75% cut, now it is 1.95. Of course it will not crash overnight.
  4. Well, too bad for him. He had about 10 days to get a good price for his dollars (£/$=1.94), this will become a dream as USA has abandoned the $.
  5. It is falling by the minute. I still had $1000 in USA, I liquidated 20 minutes ago my account there.
  6. There is no problem with Saidia. The initial question was: - do you like the extra 6% VAT? - do you like the 10% tax on rents? - do you like the elimination of the CGT relief? In the case of Saidia, do you like the fact that the prices have not increased at all in the last 18 months?
  7. Hi Mark, I loved it in Spain, the area of Cabo di Gata is really extraordinary! And the weather was excellent, we could get some tan and enjoy. I would go back anytime I have a chance. BUt I was extremely unpleasantly surprised by the developments in MOjacar, Garrucha, Vera, Aguillas (Murcia). Apartments crammed everywhere and nobody in hundreds and hundredsd of developments. Puerto Rey, Villaricos and San Juan are nice places. We did not go to Almeria and Roquetas del Mar, next time we will definitily go. San JOse is a magnific place, good sea food and friendly people (few foreigners).
  8. These buyers might be the same that are buying resales in the Polaris World Murcia's resort. I.e. nobody...
  9. Speaking of a "mushroom cloud", Almeria and Murcia looked like after a mushroom cloud around Christmas 2007. There was really nobody there, all the developments were in darkness and there was no sign of life almost anywhere. It did not look like a popular place to be, let alone pay 100K+ Euro for an apartment...
  10. I live in Liverpool and Ryanair/Easyjet do not yet fly to Marrakesh from here. They fly instead to about 16 Spanish destination...
  11. To be honest with you, I would be inclined to buy for myself in Aethenia Resort (part os Saidia) or Atlas Golf. But I am kind of wondering why should I bother when I can go to Spain for £300-£400 including airfare for 4 persons and villa rental... I shall never be able to travel to Morocco for less than £100/person roundtrip...
  12. Again, we do not know what the future holds. Some things that we know are the increase of taxes. Besides, we also knmow that prices in Saidia for 2 bedroom apts. are stationary in the last 18 months. This means somebody who bought 18 months ago lost about 6% which could have been acquired by simply leaving the money in the bank. It is also true that Saidia looks like a nice place from the pictures I saw.
  13. What do you mean by "support that price"?
  14. There is no proof yet whether the investment in Morocco is good or not. Few foreign people have sold for a profit, except the ones who had inside information. The important things is that the Morocco government has changed many of the rules which attracted investors in the first place i.e. no tax for rent, 14% VAT, etc. Who knows waht comes next. A civilised country does not lure investors only to hit them from behind when they do not pay attnetion.
  15. I have some knowledge on Brazil. What do you want to know?
  16. Did you know that: - under Moroccan law you will need to pay 10% VAT on the interest rates. For 5% interest rate the total is 5% +10% VAT so you will be paying 0.50% VAT to the Moroccan Government until your mortgage has been paid out. Of course .5% is not too much, but it add up to about 60 Euro/month (i.e. almost £50/month) for a 25 year mortgage. - the service of the loan is in foreign exchange because under Moroccan law you cannot pay Dirhams. That means exchanging all the rental money in foreighn currency and then back in Dirhams. - the rent will attract VAT of 10%. Of course this goes against what the property sites were claiming and lying. - the VAT was increased from 14% to 20%. This is quite a big increase. Combined with the 14% decrease of £/Euro, the price for British people has increased by 20% without any real value appreciation The new finance ministed decided this recently. Is he trying to sabotage the Plan Azure 2010? Or the Plan Azure 2010 stuff was just a magnet to trap some foreign investors?
  17. Congratulations on spending wisely your money!!!
  18. This is the best joke of the the new year. There are 100 of thousands of villas for rent and you tell me that you have not found one??? That means you either are totally ignorant and do not not how to search or that you are just an arogant freak who wants the Moon for dinner.
  19. What about your dead brain? How old is it?
  20. I have never seen a bunch of guesses where none of them will happen.
  21. I know the location of The Old Fire Station apartments. It is not so bad, across the street from Merseyside Mall. If he reduces the price to £55000, it might a good buy.
  22. I guess almost all the people in all countries prefer to buy instead of rent. Exceptions are Germany, Austria and maybe Nordic countries. The only problem in Romania is that 90% of the locals are priced out, whatever means of financing they might try to find. From 2012 Romania will probably use EURO so it won't make much difference. RON increased like any other currency of emerging countries like Brazil, etc.
  23. The flats were not given for nothing!!! My parents paid a long time for our apartment in Romania. It is true that the cost was low but the salaries were low too. The inflation in Romania is driven by the same reasons as the one in UK, the huge spike in food prices. The UK boom will also crash down to earth due to food prices.
  24. You can go to the site www.edil.ro Press on Constructii Noi and you have about 283 choices of new apartments in Cluj. My uncle bought a 1 bedroom apt. about 3 km from the centre in 2006 for 60K Euros. I am not so sure is a very good investment. You can rent to students but they offer low rents and also can thrash your apartment.
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