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Want to invest in Morroco Advice Wanted

Discussion in 'Morocco Property' started by chandler, Aug 21, 2006.

  1. chandler

    chandler New Member

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    Im currently thinking of purchasing an apartment in the tanjah development from Dreamworld. I went to one of their presentations and I have to say I was very impressed with the figures and how the payment plan works. 25% deposits which can be spread over the 3 years and then a 75% mortgage. This is for investment for myself... Will keep for the 3 years of construction and maybe longer, will decide depending on the Morroco property market over the next 24 months....

    Any advice on anyone else that?s bought in Morroco, or even bought in the tanjah development.
    Thanks
    Chandler
     
    Last edited by a moderator: Dec 7, 2006
  2. brayan

    brayan New Member

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    I?m in the same position as you I think. Looked at the exchange bond, (which I understand will operate from within the UK & that made me feel more secure). Really like the idea of being so close to Southern Spain - good transport links, it's 5 star , there's no phasing on the build and there are other developments going up around it within a similar time frame - so no noisy cranes etc once built. BUT the development itself will not be stuck out in the wilderness in splendid isolation.
    Like you I am looking to hold & with confirmation just received that a mortgage plan will be in place, this allows me the option of holding longer rather than flipping before completion (I hope!).
    The payment plan I though innovative & because of the relatively long build time, capital growth is likely to be strong & that's what got me!! I have seen some comments on other website that have been negative about not being able to flip until you've paid 25% which could put the more aggressive investor off, but as I haven't got the time to devote to such revolving door tactics, this suits me fine.
    I hasten to add that I am no big important property investor - we have had a place in Turkey for the last 5 years & that has done very well for us & I think that gave us more confidence to take the plunge on Tanjah. Apart from that, you just have to do your research & then go with your instinct in the end - scary eh??
    Thanks
    Brayan
     
  3. lady in red

    lady in red New Member

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    want to invest in Morocco

    hello Chandler,

    I looked at Tanjer beach and went on an inspection trip, it was a bit of a shambles really. The Dream world people could not answer most of the questions put to them and they did not appear to have the written planning consent documentation.

    My personal descision was not to proceed.
     
  4. colby

    colby New Member

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    Agreed - bunch of cowboys imo.
    C
     
  5. sandals

    sandals New Member

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    I agree guys about Tanjah dream world have messed this up big time.

    London based Moroccan agency propertyborders.co.uk refuses to even sell Tanjah becouse of this.

    Property Borders have just launched thier new site have a look, it has great news on Morocco and investment advice.
     
    Last edited: Dec 8, 2006
  6. FlexiBox

    FlexiBox New Member

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    Tanjah

    What was it they actually messed up? Is the development still going ahead? What are the problems. I have decided not to invest in property in Morocco for the time being but am curious and will keep a watchful eye on some ofthe deals.
    Flex
     
  7. Rixxy

    Rixxy New Member

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    Buying in Morocco

    As a veteran of real estate in Marbella I have recently set up a company specializing in Morocco, mainly the Tangier area. My partner and I were looking for another country to compliment our business in Marbella and researched Morocco for 18 months before we made the right contacts and became confident to offer off-plan units. We ensure all due diligence is carried out and handpick developments for location, price, build quality and liklihood for investment gain. we dont do inspection trips but accompany clients around! Have a look at our website and let me know what you think. Page 1
     
  8. lti

    lti New Member

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  9. Rixxy

    Rixxy New Member

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    Thanks Admin, I will get our web guy to change that page 1 part. We want to offer our clients full information and not just offer the general stuff that everyone offers out. There are many reasons for this but not ones I would be prepared to debate on an open forum! Living in Spain I am fully aware of how the real estate agencies have cleaned up here - luckily I was never a part of it, only helping to clear the mess afterwards!!! Morocco is big news - we even have ex-pat Moroccans buying from us, a bit like selling ice to the Eskimos I guess. Have a good day.
     
  10. propertyborders

    propertyborders New Member

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    Thanks for pointing that mistake out admin.
     
  11. propertyinvest

    propertyinvest Active Member

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    Hi

    I have invested in the tangiers and dont see any problems with it, a colleague of mine has met the developer and everything was fine,i i can see why some people dont like some aspects of the project , like build time,payment plan. But to be honest i dont think you will find a better payment plan out there, 12% now and 13% over 3 years INTEREST FREE , along with a 5yr 10% rental guarentee. As a investor this is a steal and investors should jump on it, they are selling like hot cakes.

    I went though worldwide frontiers , here is alink

    Morocco - Tangier - Tanjah Beach & Golf Resort

    All the best
     
  12. NLHT

    NLHT New Member

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    Morocco

    Hi there, I have sold property in Morocco and own in Morocco. I carry out a lot of economic studies and political reports there, based around the reforms in the residential market. Morocco is a massive country and is very area specific. The most important factor of investing in this sort of market is deciding where you believe the future markets will be. I laugh when I see capital gains figures (aka capital growth) they mean NOTHING. That growth may be one town in the mountains above Finidiq. Morocco is a great country, but you go for either Marakech or North Morocco. I wrote this for a report, I cant give you the finished copy but this may be of help. If you need help do call me on (0034) 678 806 445.

    I am highly knowledgeable in foreign investment, I work as a consultant. Part of my job is watching employment drop, education rise, population grow at 1.6% and I can tell you exactly where has been given an award to be revamped in 2008 as the number 3 spot in Morocco, number 3 for tourism, but by far the smallest area, so much more money per km2.

    Many investors know that geographic diversification can improve investment returns without increasing risk

    Morocco is an emerging market, where one can pay very low prices per square metre for a stunning residence in a typical medina or by the beach, and generate above average rental prices throughout the peak season.

    Morocco is currently undergoing massive economic reforms. Now is the time to invest in Morocco, with a tunnel now confirmed that will link Spain and Morocco, described by Spain’s transport minister as being as important as the Suez Canal in the 19th century and Panama Canal in the 20th century. If we compare this tunnel to the channel tunnel we would expect to see capital growth in the immediate area, i.e. Asilah to Tetouan, purely on speculation of construction, let alone if we consider that the infrastructure will certainly be improved dramatically in the coming years. To connect the tunnel exit to the capital of Morocco, Rabat, a major new highway is being built. Also a major port is being constructed in the north of the country, which is one of the largest commercial ports in the world. This will certainly create plenty of jobs. The country has seen massive employment increase in the last 3 years, partly due to the development of properties, but mainly due to multi nationals being attracted for the first time to the country.

    France has started outsourcing a lot of their customer care services to Morocco, as labor is more affordable and their second language is French. This is very similar to Britain out sourcing their work to India for example. We have seen phenomenal growth in Morocco, the economy is booming, employment and minimum wage is higher than ever before, the king is attracting massive investment globally, like 30 billion dollars from the United Arab Emirates for the Plan Azure and other national development. The king is to create tourist resorts along the Atlantic and Mediterranean coast line to boost the number of visitors each year. We have seen 26 percent growth in less than 12 months. Tourism is expected to be up to 10 million visitors a year by 2010. That would be equal to 30 percent of their population. The king is a young monarch, with a vision to westernize the country. He has also handed back a lot of power to the people, in 2007 for example we will see for the first time that the public are to elect a prime minister, previously the monarch has always elected his own. Morocco is a constitutional monarchy, just like the United Kingdom.

    Great things are happening in this country, which contribute to a solid and diverse investment. King Mohammed VI's Vision 2010 plan is key to the growth of Moroccan property investments and the tourist economy as a whole. It is set to offer the world-class standards expected by today's foreign investors and spur on economic growth.

    We have identified Smir, close to Tetouan and the Spanish enclave of Ceuta, as the place to invest. The heart of this area is its established marina, marina Smir. This marina is modeled around Puerto Banús, one of the most luxurious and expensive marinas in the world.

    Morocco is being compared to Marbella 12 years ago. It is only 14 km across the straits of Gibraltar away, and both countries share hundreds of years of history. In Marbella you would expect to pay double or in some cases up to 500 percent more for a property in a comparable location.

    The country has also began allowing non national air line companies to fly into their country. Open skies agreement began in January 2006. Now easyjet, ryanair and other low cost airlines have already negotiated and finalized direct flights into the countries major airports. We expect to see Tetouan as one of these airports when it opens in 2007.

    With such economic growth, political reform, booming tourism market and open minded head of state, investing in Morocco could be the best thing you ever do.


    For free assistance and questions call me on (0034) 678 806 445
    quote totally property. Anyday but the 25th Dec!!!
     
  13. Bora Horza

    Bora Horza New Member

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    Different experience with Tanjah

    I have recently been over and had a different experience. It would appear that the building licences were in the process of being drawn up and these are now in place. It is going ahead and I will be proceeding on a 2-bed unit. No problem with finding out all the information I needed - maybe it was just an inexperienced rep that the other guy had. Im very happy with my unit.
     
  14. lady in red

    lady in red New Member

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    I have now bought in Morocco

    Just to let you all know after the disastrous trip to Tanjer Beach with Nightmare world I have now bought an apartment in Sunset Beach club from Saffron Villas. The location is great and I think personally this will be a great investment.
    I took some photos if any one wants to have a look
     
  15. lady in red

    lady in red New Member

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    I have now bought in Morocco

    Just to let you all know after the disastrous trip to Tanjer Beach with Nightmare world i have now bought an apartment in Sunset Beach club from Saffron Villas. The location is great and I think personally this will be a great investment.
    I took some photos if any one wants to have a look
     
  16. propertyinvest

    propertyinvest Active Member

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    Hi ,Lady in red. What happened with your visit. Please if its ok let us know what was so bad.

    Thanks
     
  17. propertyinvest

    propertyinvest Active Member

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    Please go to the post on the Tanjah golf and beach, should be helpful.
     
  18. investor27

    investor27 New Member

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    Lady in Red, i'd be interested to see pics of Sunset Beach, im trying to decide where to invest, have got a few development in mind.
     
  19. flip

    flip New Member

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    my concern with this one is I have asked all the agents selling this can I have the details for the developers yes they say presidential developments but how about the address for this company they all refuse what is there concern? they dont mind giving it for Fadesa or others so this concerns me a search for this company on google returns nothing again a concern.

    I dont buy any property on a whim I need firm info to proceed so who is this presidential and how can we check them out at least?
     
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