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Morocco - My Next Target


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I read that Morocco will be holding elections next year and that recent opinion polls show an extremist religious party in the lead at the moment. Should they win (shades of Algeria) what price your investment then ?.

**snigger**

not really worth getting your throat cut over, is it?

face it - the middle east is going up in flames :(

looks like dogbox is getting out anyway

http://www.housepricecrash.co.uk/forum/ind...showtopic=33600

a classic pump and dump, this thread.

nice one, dogbox :lol:

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GASMAN. Sounds like our reasons for investing abroad are similar. We think we can get better return from housing abroad than back here. Free income also higher now than it is likely to be with family.

Site beneath might be of interest to you. It has more on problems with Royal Asilah and PBGR (which may also apply to Tanjah if indeed people behind it are the same.) Might be worth speaking to some agents that are active in Morocco but aren't selling Tanjah, Royal Asilah or PBGR. They will probably be able to give you more accurate information than myself or most of the posters found in forums. With no vested interest in these developments they will be frank with you about them.

Link beneath also has breaking news on rental with Tanjah. I don't have a good vibe about Tanjah, but won't mention that again unless prompted (I know I must sound like abroken record.)

http://www.buyingmoroccanproperty.com/foru...18bf8e3006c3796

Just got my contract through for LJDF - looks like I've got almost all the clauses included that I wanted. Its quite some time since I reserved, but looks like I'm finally ready to sign.

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Just got my contract through for LJDF - looks like I've got almost all the clauses included that I wanted. Its quite some time since I reserved, but looks like I'm finally ready to sign.

Soupdragon, I have been a browser for a number of months (this is first post) and I must say that I think that your threads are the most infomative and balanced views on here. I am very close to handing over the first 20% on a 1st floor LJDF appartment (was out there in July and impressed by everything going on), and was wondering if you would be able to disclose the changes that were agreed to in your contract. This would help alot.

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Hi phatpawz

I've gone for a villa in LJDF, so much of what I inserted won't be appropriate for you. (I will list it though.) Like others on here and other forums, I failed to get anything relating to government guarantee or 10 year building guarantee. My solicitor (CBA Law) informed me the latter shouldn't be an issue as all new builds in Saidia (and presumably other developments elsewhere) come with 10 year guarantee.

I'm afraid I'll hold one clause back from list as if event X happens I will have a reduction on purchase price, but if lots of people included this claause event X would be less likely to happen. Sorry about that, I know I may come in for stick from others, but just protecting my interests. I will add that that clause would only be of use if you were considering a villa.

From memeory, clauses were:

1) All permissions must be in place before work commences and next 20% installment is due. (Contracts for villas don't include this, they simply say next 20% due when construction has started.)

2) Pool to be a minimum of 21m2.

3) Small wall, approx. 1m high, with flowers on top to divide property from others and provide some privacy.

4) Stipulating upstairs room was to be a 3rd bedroom and furnished accordingly. (Plan in contract appendice had this as an office when it should be an en-suite bedroom.)

5) Property Logic to provide me with access to property 2 or 3 days before completion so I can check everything is in order. Outstanding 60% not to be paid till I'm happy. (With buying property in UK we can construct a snagging list after completing. This isn't the case in Morocco.)

6) Had refundable deposit taken off first 20% installment. Not everyone has done this. I've read on one or two other forums about some people not being able to do this.

Property Logic have been very reasonable throughout the negotiating period. The only condition above where I asked for something different was number 3. I asked for a hedge. The wording they have used in contract leads me to believe that everyone buying villa in LJDF will have small wall with flowers ont top separating their property from those it neighbours.

Probably as important as any clause is managing your solicitors. If they are on fixed fee they might be happy to run with contract as Property Logic provide it and not inform you of clauses they feel you should add. This was the case for me. My experience of solicitors is that they will let you fall to bottom of their list if you don't keep in regular contact with them.

In my eyes the main risks to my investment are the stability of Morocco and Property Logic. I'm comfortable enough with those and managed to nail down other smaller concerns through clauses in contract.

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From memeory, clauses were:

1) All permissions must be in place before work commences and next 20% installment is due. (Contracts for villas don't include this, they simply say next 20% due when construction has started.)

2) Pool to be a minimum of 21m2.

3) Small wall, approx. 1m high, with flowers on top to divide property from others and provide some privacy.

4) Stipulating upstairs room was to be a 3rd bedroom and furnished accordingly. (Plan in contract appendice had this as an office when it should be an en-suite bedroom.)

5) Property Logic to provide me with access to property 2 or 3 days before completion so I can check everything is in order. Outstanding 60% not to be paid till I'm happy. (With buying property in UK we can construct a snagging list after completing. This isn't the case in Morocco.)

6) Had refundable deposit taken off first 20% installment. Not everyone has done this. I've read on one or two other forums about some people not being able to do this.

Property Logic have been very reasonable throughout the negotiating period. The only condition above where I asked for something different was number 3. I asked for a hedge. The wording they have used in contract leads me to believe that everyone buying villa in LJDF will have small wall with flowers ont top separating their property from those it neighbours.

Probably as important as any clause is managing your solicitors. If they are on fixed fee they might be happy to run with contract as Property Logic provide it and not inform you of clauses they feel you should add. This was the case for me. My experience of solicitors is that they will let you fall to bottom of their list if you don't keep in regular contact with them.

In my eyes the main risks to my investment are the stability of Morocco and Property Logic. I'm comfortable enough with those and managed to nail down other smaller concerns through clauses in contract.

Soupdragon,

Thanks once again for sharing your experiences with us. I understand that you would want to keep situation X under wraps for obvious reasons. My identified risks are the same - to me the quality of development is a 'no brainer' decision as even if it turns out to be 70% of what it is on paper then it will be a great place to holiday. I am buying for 2 reasons - investment primarily, and holidays for myself.

Property Logic's lack of bank guarantee is my main concern at the moment. I understand from the threads that they are not highly geared, but am aware of the number of projects that they have in the pipeline. I am unsure as to why they would not just pass through any costs of provision of guarantees to the end consumer (I am sure everyone would have paid a small % more on purchase price to ensure original capital is guaranteed). I am going ahead with purchase despite this concern (agree that stability remains an issue as well), but am just a bit surprised that guarantees aren’t offered (I wonder if guarantees would limit the number of projects PL could undertake at any one time by placing liquidity requirements on the??) Anyways, thanks again for the info, much appreciated.

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phatpawz where have you bought and through what agent? Any links? I was so close to purchasing in Morroco a couple of weeks ago with Tanja but now I have some concerns with them. I've started looking at other developments in Morroco but prices seem to be all over the place. Im finding it hard to compare places and payment schemes. I don't want to commit to much money towards this venture (in the region of 20k-25k max).

Tanja had 2 bed apartments for 85k with a sea or golf view, but best of all only 25% deposit required the rest financed via a mortgage. If anyone can suggest what other places I should be considering. Help appreciated....

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phatpawz where have you bought and through what agent? Any links? I was so close to purchasing in Morroco a couple of weeks ago with Tanja but now I have some concerns with them. I've started looking at other developments in Morroco but prices seem to be all over the place. Im finding it hard to compare places and payment schemes. I don't want to commit to much money towards this venture (in the region of 20k-25k max).

Tanja had 2 bed apartments for 85k with a sea or golf view, but best of all only 25% deposit required the rest financed via a mortgage. If anyone can suggest what other places I should be considering. Help appreciated....

Hi Gasman,

If you email me on [email protected] i will send you some details on Fadesa´s Kabila development on the Med Coast.

Andy

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Hi Gasman,

If you email me on [email protected] i will send you some details on Fadesa´s Kabila development on the Med Coast.

Andy

Hi Gasman,

I have reserved in Saidia on the Le Jardin De Fleur RT2 appts. I went for Saidia for the same reasons that have been outlined earlier in this thread by Dogbox (thanks to you for all your posts as well). I think it should be quite a fantastic place, and being a flagship development for the Kingdom provides me with some comfort. Comfort does however come at a cost, and you will pay a premium per sq foot above some (not all) other developments for an apartment in Saidia.

If cost is the key driver for your choices then you should maybe look elsewhere (but beware of risks outlined by Dogbox/Thorr in other threads regarding stand alone developments) - Andy makes a good suggestion above - I actually reserved through him, and he is very informative - when i visited Saidia it was clear that he was by far the most knowledgeable agent there (and there were some who had no idea). So I would go through him if I were you... (Andy, I take cheque or cash)... Seriously though I would def recommend him (as I have done previously to friends who have also bought on the development).

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How much is the Le Jardin De Fleur RT2 appts? What payment plan did you get? 40% deposit?

Gasman I was told by my Agent that the 'Tasa' built appartments have a 10% pa deposit scheme over 3 years. They are within the Saidia complex close to beach built around swimming lakes with Golf adjacent. I think the prices were £60000 and up.

PM me if you want the Agents details or I can pass your details to her.

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How much is the Le Jardin De Fleur RT2 appts? What payment plan did you get? 40% deposit?

Gasman,

My apologies my appartment is on plot RT-7 although these have now all nearly sold out. RT-2 is a new release - I would suggest visiting www.lejardindefleur.com and having a look under 'prices' in order to get a feel of current pricing and payment plans. Cheers

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hi smilie

Governement's role in the developement of tourism remains to be seen , if governement's activities are appropriately targeted , it will be possible for this to play a very constructive role , considerably accelerating its tourism developent , even though there are disadvantages in morocco now , but there is big changing into developement , facing a deep desire to increase and tttract lots foreign people with a special method within the next few years

if someone wants to , they will want to put their money something that will be profirable and secure so we have to ask what kind of projects and ask ourselves why would people want to travel here , morocco attracts lots people now that because of culture , geography traditions activities and the country has a unique life that's why

there are many partnerships with many markets , britain and europe , soon there will be flights from moscow directly to agadir and marrakesh the most beautiful cities in morocco

and many north american canadian companies participating and proving in exchnaging assistance in this tourism field

As i can say there is a boom in tourism developement and i can ensure there will be more advantages on this country , i belive that the minister of moroccan tourism provide incentives in this market investing in marketing to attarct many other companies

nowadays there are lots people prefer to visit morocco , that related to its culture history dialects , ways of celerations , and the way of lives in countrysides or inside cities cities like AGADIR MARRAKESH FES OURZAZATE AND SAIDIA NEXT COMING TIME those cities remain the heart of morocco in tourism and many projects built here , and many are still being , on the other hand we still expecting a big boom in this field

iam looking forward to hear from you

and here is my email address to contact me : [email protected]

*

best regards

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HI

greeting

tourism is a very important activity for the national economy more than 3 million tourists are visiting morocco each year the governement activities are appropriately targeted it will be posible to play a very constructive role , considerably accelerating its developement

nowadays morocoo is getting to attract 10 000 000 tourist by the year 2010 and there governemnet is trying vert hard to encourage this filed more

sometimes we ask why do people would come to this country and what attracts them to visit here , that is because of the rich culture , activities traditions ways of lives and ways of celebrations and also the lives in rural areas

in my view point morocco is going into a boom in tourism and many investors are coming but the main cities are AGADIR MARREKSH ESSOUYARRA OURZAZATE and there is an expectation because of SAIDIA , many proojects will be builts there hotels , villas golfing

iam looking forward to hear from you here is my email address

[email protected]

yours sincerly

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HI

GREETING

tourism is a very important activity for the national economy more than 3 million tourists are visiting morocco each year , and by the next of 2010 there will be 10 000 000 visitors in this country

the governement's role in the developement of tourism remain to be seen if the governement activities are appropriately targeted accelerating its development to play a very constructive role considerabley

we should ask ourselves why do people would come to morocco and what attracts them to choose it their destination that relates to its rich culture , traditions , ways of celebrations , ways of lives and the lives ep in rural areas

there are main cities that attract people are are more touristic SUCH AS AGADIR MARRAKESH ESSAOUARRA AND OURZAZTE BY THE NEXT COMING TIME there will be many other places

i would like to encourage you to invest in morococ being moroccan boy i know how important to inest here and that will be succefully positive if yo do your projects in those cities

if you have any questions feel free to contact me at

[email protected]

yours sincermy

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HI daganglo

greeting

If someone wants to invest in morocco , they will want put their money in somthing that will be profirable and secure so we have to ask what kind of projects are profirable and secure , then we have to ask ourse'lves why would people want to travel here and what do they need what when they come ? here we can notice something can attract lots people coming from foreign countries they see something they can't find it in their countries that is concerned with culture , traditions ; ways of celebrations ways of lives in rural areas and outside cities wonderful beaches

and so one needs to find a uniqure aspect of local environement that tourist wants , tourism is very important activity for the national economy more than 36 million tourists are visiting morocco each year and the role of governemnt in the coming year by the 2010 they would like to attract 10 000 000 tourist during this time the method is taking place and many hotels beds , activities of entertainment there is a big boom concerning this field

so far we can notice that there is a huge economy in this tourism field the country offers a wide range of tourism related to services , business and sport tourism are to segment with a high developement potencial

if you would really liek to invest in morocco you could do taht and i can recommend you that certainly will be positively successful and many benefits , i would encourage you there are tourist cities such as AGADIR MARRAKESH FES OUARZAZATE

being moroccan boy 23 years old , i would help you if you would like to invest in AGADIR city which can offer wonderful beach moreover sunny weather and it seems fantastic

her eis my email [email protected]

best regards

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I am thinking of buying a apartment on the pre launch of kabila Marina smir.

I called Beverley at property borders.com for details, with prices from under 50k I think it must be a winner,is anyone else buying there

by the way it's on the med side of Morocco

Hi

I'm thinking of buying there...a two bed apartment.

Seems like its a good deal for the price.

What are your thoughts?

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