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Morocco - My Next Target


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BrickingIt. The hotels are a mix of 4 and 5 star. There will be nothing cheap and cheerful. This will limit demand for cheap 'restaurants'. Saidia won't be crammed full of 1 bed flats. Look at property for sale there. There are more two and three bedroom properties than 1 bedroomed ones. Saidia is not a high density development either (I'm picking up on your use of the word crammed again.) It is well spaced out and green (golf, gardns, trees, etc.) There will be su[ermarkets, but not your cheap chearful stuff. I believe one of Spain's largest supermarket chains has bought a site there (can't remember name off hand.)

Of course those buying in Saidia will have seen contracts they signed - and prior to parting with 40%. (I don't know of anybody that has parted with 40% before signing contract. Nor do I know of any developers or agents that have asked that of thier clients.) We recognise how key contracts are and pinned down some of our concerns through additional clauses that we got added.

Egypt is filled up with 4 and 5 star hotels which cost about £200/week for all-inclusive. Saidia won't be better than El Gouna or Taba. And nobody will prefer putting life at risk by going to Morocco instead Spain, Italy or Portugal, Greece.

Edited by catara
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Just a few points. The marina is already built and flooded. The golf courses are already under constructon and the greens and tees built. The proposed water on the golf courses has already been created. Carrefour has signed an agreement to operate the 2 supermarkets. Our villas will not look onto the supermarkets because they are surrounded by the golf courses (and my contract stipulates which green I will be looking directly onto and includes a diagram). The beach is bordered by a promenade which is mostly constructed and paved already so will not be used as access for builders, etc........

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Still Terrorism is a threat that won't go away. Much like it is here in UK.

Not quite. The threat levels are notr the same and neither are the consequences.

A terrorist attack on a soft target in Morocco will see tourist areas (and rental villas) emptying. Lots of Westerners unwilling and unable to get to their precious investments - I'm sure that'll please the Osama boys.

It's a totally different ball game in UK and the rest of Europe.

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Jeez, you guys must not be very busy at work....oh, I forgot you are all property millionaires who spend all your time counting your cash and spouting twaddle on message forums.

Anyway, as most of you are know-alls, why not visit the Terrorism Knowldge Base -> http://www.tkb.org/Home.jsp and soak up a few facts to impress your friends with. For example, the fact that Morocco has had 46 deaths due to terrorist attacks since 1968 compared to 366 for the UK. Or maybe that there are only 4 known terrorist groups in Morocco, wheras there are 20 in the UK. It even has a corruption index, so you can compare how Pakistan rates against Turkey, Morocco etc (I only mention as I know this has been discussed).

Yes, I think terrorism in Morocco is a threat, as is the rise in fundementalism in that country, but we have to put things into perspective. Another thing to consider is that whereas terrorist attacks used to make a large impact on tourism, it now only shows as a blip. People move on and forget. This is well documented.

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A terrorist attack on a soft target in Morocco will see tourist areas (and rental villas) emptying. Lots of Westerners unwilling and unable to get to their precious investments - I'm sure that'll please the Osama boys.

Several terrorist attacks (including the well publicised bombs on the beach) in Turkey had no discernible effect on tourism other than a brief knee jerk lasting a couple of weeks.

Same in the Red sea resorts and Egypt which have had many bombs over the last 15 years.

In the end life goes on and most of us dont let terror tactics cower us in fear. There will always be a small terrified minority, such as those that stopped using the London underground indefinitely despite the fact they are far more likely to be killed cycling to work :rolleyes:

terrorist attacks used to make a large impact on tourism, it now only shows as a blip. People move on and forget. This is well documented.

This has always been my stance, however I didnt know it was 'well documented'.

Youre right BTW about my having too much time on my hands. I dont feel guilty though as I spent years toiling for someone else, so I think I now deserve a bit of space B) , although Im not rich for sure.

Edited by dogbox
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Brickingit,

just a word of warning, get a tax advisor. All the marketing speel you get on tax free this and no CGT that, is only viable to Moroccan tax - & you still have to pay the full tax here in the UK. It looks good on web sites but check out what a dual tax agreement actually means - you don't pay tax in both countries, so if you pay 0% income tax in Morocco, you still pay 23% or 40% here. BTW: I've also bought in LJDF. You could always keep your money offshore and hope the tax man doesn't find you, but it's a risk.

Agree with Brickingit. As a property tax advisor who have also bought in LJDF you will still be taxed in the UK although could reduce the tax payable. Dont agree about not telling the tax man.

mmv

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Jeez, you guys must not be very busy at work....oh, I forgot you are all property millionaires who spend all your time counting your cash and spouting twaddle on message forums.

Anyway, as most of you are know-alls, why not visit the Terrorism Knowldge Base -> http://www.tkb.org/Home.jsp and soak up a few facts to impress your friends with. For example, the fact that Morocco has had 46 deaths due to terrorist attacks since 1968 compared to 366 for the UK. Or maybe that there are only 4 known terrorist groups in Morocco, wheras there are 20 in the UK. It even has a corruption index, so you can compare how Pakistan rates against Turkey, Morocco etc (I only mention as I know this has been discussed).

Yes, I think terrorism in Morocco is a threat, as is the rise in fundementalism in that country, but we have to put things into perspective. Another thing to consider is that whereas terrorist attacks used to make a large impact on tourism, it now only shows as a blip. People move on and forget. This is well documented.

Jibber, you are taking statistics and making them fit your own beliefs.

For example, why go back to 1968? We weren't waging a "war on terror" in 1968. The battle between the West and Islamic fundamentalism is here and now. That's what is scary about investing in Moslem countries where the terrorist threat is all too alive.

As for terrorism having no impact on tourism, I hope you are right. But we have yet to see the impact of terror attacks in Moslem countries on Western interests. That's entirely different to attacks in London or Madrid.

Egypt's tourist trade suffered greatly following attacks on tourists precisely because Westerners - who stick out like sore thumbs - were frightened to go to Islamic countries.

And you are taking it a step further. It isn´t Egyptian hotels that lose out if Western soft targets are attacked in Morocco. It is you and other investors with your holiday villas. You are taking a much bigger risk. Holidaymakers can go elsewhere. Who will buy a villa in a terrorist attack zone if you want to move on?

Fear of an attack is as important as an attack itself. When New York was attacked it was probably the safest city in the world to visit in the weeks and months following. You won't be saying the same about Morocco.

I wish you well.

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Jibber, you are taking statistics and making them fit your own beliefs.

For example, why go back to 1968? We weren't waging a "war on terror" in 1968.

I agree terrorist threats to Morocco are a risk, just do not want to overplay. Quoted from 1968 as that is what the Terrorism Knowledge Base quotes - no other reason. Am not trying to play with statistics, but agree that we can all maniupulate for our own needs.

Egypt's tourist trade suffered greatly following attacks on tourists precisely because Westerners - who stick out like sore thumbs - were frightened to go to Islamic countries.

I think Egypt and Turkey are very good examples to use. Both countries have had their tourism affected by terrorism over the years. However, we are seeing that as terrorism becomes more commonplace, affects on tourism become less dramatic. When I get chance I will try and drag up some reports that back this up.

One last thing. Perception is everything. I can quote figures for ever, but if Joe Bloggs beleives that Morocco is full of mad muslim terrorists, then I agree he will not holiday there. It is sad but true - sometimes reality and perception can be very different.

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I've been reading about Saidia for a while now and if I new the game well enough (fti) I would have reserved something by now.

What I haven't figured out yet is what will the net income be from the rent (after all the charges and tax). The last time I calculated, I found that on a 10K rental yield I would only realise a net income of around 4K - I think I did my sums wrong.

I only have 120k to spend on an investment - so I'm still reading on.....

Unwittingly, this ramping and ant-ramping feuds are answering a lot of questions bouncing in my head - and I'm still positive about it

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What I haven't figured out yet is what will the net income be from the rent

Its impossible to predict.

EAs tell me rent gurantee of at least 6% is to be offered, but I think I will just let it myself because Im guessing based on experince I will get far higher than this, but if I dont thats no problem as I bought for growth not income.

BTW - perhaps a few of us RELIABLE people might want to pool our property and create a dedicated rental website and share the proceeds. Not too many of us as this will get to burdonsome. I already own several pertinent domain names.

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Jeez, you guys must not be very busy at work....oh, I forgot you are all property millionaires who spend all your time counting your cash and spouting twaddle on message forums.

Anyway, as most of you are know-alls, why not visit the Terrorism Knowldge Base -> http://www.tkb.org/Home.jsp and soak up a few facts to impress your friends with. For example, the fact that Morocco has had 46 deaths due to terrorist attacks since 1968 compared to 366 for the UK. Or maybe that there are only 4 known terrorist groups in Morocco, wheras there are 20 in the UK. It even has a corruption index, so you can compare how Pakistan rates against Turkey, Morocco etc (I only mention as I know this has been discussed).

Yes, I think terrorism in Morocco is a threat, as is the rise in fundementalism in that country, but we have to put things into perspective. Another thing to consider is that whereas terrorist attacks used to make a large impact on tourism, it now only shows as a blip. People move on and forget. This is well documented.

Hi All,

Completly off the subject but i havent been about for a while and i thougt that you all might like to know that a major investment has been made on Jardin de Fleur by England footballers. For more info please click on the following link.

http://www.propertyshowrooms.com/Forum/Topic73-12-1.aspx

Regards,

Andy Welland

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I'm absolutely blown away that people are paying £170k to buy in a third world country.

Gobsmacked.

Insane doesn't even begin to describe it.

You could buy in the (very pricey) Caribbean for that cash.

When I heard people were rushing to buy in Morocco, I was guessing £10-£15k - maybe £30k-£40k for something really nice.

But £170k?

Must be having a laugh.

I mean, it's not like you could buy a 2000 sq ft place with private pool in Phuket for half that or anything

http://www.siamrealestate.com/property/propage.php?n=894

Here we go :lol:

The 'stars' are moving in. The Beckhams, Jude Law and Brad Pitt have recently bought - this is important, it sets the trends.

Dont forget Gary Neville.

any 'invesment' that footballers are getting involved with is a sure one to avoid....

they're so thick, and they *always* get ripped off. Too much money, no sense.

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might like to know that a major investment has been made on Jardin de Fleur by England footballers. For more info please click on the following link.

http://www.propertyshowrooms.com/Forum/Topic73-12-1.aspx

Andy Welland

This will do the profile of LJDF and Saidia no harm - Rio Ferdinand, G Neville and John Therry B)

The neg - heads have seriously misjudged this investment.

The poster who says you can buy cheaper in the Carribean, well yes you can and I almost bought in Great Exuma and seriously considered some other islands so I know that market fairly well. The point is you fail to understand Saidia is a world class up - market facility that will appeal to those wanting a vast range of facilities including 3 courses. The rentals will be possible all year (no hurricane season, no cold winter as will apply to Turkey and much of Spain) and its only 3 hour flight. Morocco is changing.

Edited by dogbox
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