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Approx £50k to spend - Advice needed. Thanks

Discussion in 'Morocco Property' started by surrey-ed, Sep 6, 2007.

  1. surrey-ed

    surrey-ed New Member

    Hi,

    I am looking at investing in a 2 bed property in Morocco. What areas are "good value" to look at right now? I really like the area around Marina Smir..

    Le Jardin de Fleur is appealing but can I get better value for money, this will be a rental property only and my budget is approx £50k.

    Thanks in advance
     
  2. fuzz

    fuzz New Member

    I just purchased a unit in Calabria, Italy for this price. Living in Spain I am not convinced at all about Morocow as you do not get build guarantees etc and I think this is important also I think the prices there are now too high. I have a new development in Italy being released this week and with prices starting from 60,000 euros on the first phase I am sure this would be a better investment and certainly with more rental potential. The development I purchased in now has only about 15 units left but the complex is fantastic. Feel free to send me private message if you would like more info. Have photos from my visit in May this year.
     
  3. ONSA

    ONSA New Member

    Do not get me wrong but have you ever considered TURKEY. Within that budget of yours you can have beautiful apartment in an excellent places in TURKEY. In case you need, we are a good and reliable construction/investment company in Turkey (ONSA-PROPERTY) . Do not hesitate to ask anything as we do not charge for advice.
     
  4. Sandyman

    Sandyman New Member

    50K in Morocco?

    50K is on the low side for Morocco as prices on good beachfront developments usually outstrip this. However you could look at City Centre Tangier - here you could get an apartment with a good view which would easily work as a long term rental.

    Tangier is going to be transformed over the next 5 years and so there's also the possibility of the best capital growth on the Mediterranean.

    Be careful of some of the local Moroccan developers that seem to offer excellent prices - they frequently demand a cash advance and this money will never be recorded on your deeds.

    I've dealt with most of the UK based agents selling Tangier so if you want any pointers for agents for any developments please let me know.
     
  5. andyk2

    andyk2 New Member

    If you are still looking ......

    Surrey-ed,

    I see your post was a couple of months ago, but I have just got details of a development in Marrakech that may be of interest to you.

    Marrakech is a popular weekend/short break desitation, which is always busy, always crowded and always noisy. I would never go there again myself, but thousands of people do - every week.

    This project is being run as an apart/hotel with a guaranteed rental scheme offering 7% guaranteed yields for 9 years (initially). The prices start from €167.000, but with only 30% required before completion and a mortgage guaranteed on future rental income, your input need be no more than €50.100.

    I have brochures, site maps and everything else if you are interested. Please send me a PM with your email address and I will send it onto you. Please note that there is no personal use with this scheme, so it is only suitable as a hands-off investment.

    Happy investing

    Andy
     
  6. Library Lady

    Library Lady New Member

    I have a two bed ground floor apartment for sale in Asilah which we are willing to sell for £53k - if you are interested please send a private message. Many thanks
     
  7. yorkshire boy

    yorkshire boy New Member

    have you considered hurghada in egypt, if you are in a position to complete before the 15th dec i have a something you may be interested in. 2 bed for 38k. see my post in egypt forum under for sale. if i have to complete (by the 15th) then i will resell but for more than 38k.
    feel free to pm me if interested.
    cheers
    john.
     
  8. michaeltw

    michaeltw New Member

    I am selling my studio apartment in Morocco for 550,00AED. This property will bring you 50,000 - 60,000 AED annually from rent. Must sell as I am reinvesting in America. wagneragency @ comcast. net

    Michael Wagner
     
  9. Lee Filkins

    Lee Filkins Administrator Staff Member Premium Member

    If you have not bought yet, sit tight. The prices are falling and with EU, £= €, Middle East is now being affected by liquidity prices, Oil $40 per barrel, soon there will be plenty of bargains.

    Also don't forget a year ago £=15.89 MAD & today £=11.62MAD, This means your £50K will buy 213,000, less MAD.
     
  10. Tangier

    Tangier New Member

    If you are looking at Morocco hold on for about 5months the price is comming down you can get a new apartment 3 Bedrooms for 550.00 dh if not lower in Tangier.

    Just hold on .......
     
  11. Lee Filkins

    Lee Filkins Administrator Staff Member Premium Member

    subject

    Fully agree about the reduction in prices. Cant be sure of the time frame. I am am that in Saidia, the prices can be reduced with furniture pack including Plasma TV etc thrown in.
     
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