Hi Redangle.Hi Barry,
1) I paid MAD 1.6 mill for my two bed (at a rate of just over 17 MAD - fixed the rate via an exchange company);
2) I only paid TVA of 15%;
3) All legal and completetion costs were covered by the developer
So in summary, including furniture I paid about 101k (sterling) for my two bed
AG is located in a better location than Samantha. The apartments are also bigger and the density of build also differs.
Take a look at Samantha while your in Marrakech.
Also, why do you think they have decided to convert the villas into apartments??
They have priced themselves out of the market and have been unable to shift the product. I'm not saying that AG have sold all the development.
But I've been very impressed with what I've seen at AG. I now have a beautifull holiday home that I will be visiting with my family atleast four times per year. Just got back from a trip and loved it. The grounds the swimming pool were clean.
We now have a residence union and chairman who is very influential at Addoha and is getting things done. The golf course has been landscaped and grass seeded.
1st Phase Villas and Riyads are near completion.
It will take time (like everyting in Morocco),but AG is far far better than anything I have seen so far in Marrakech (and I've seen a few) in my numerous visits to Marrakech.
I wish you luck and hope you get your deposit back.
If it has only cost you 100K I think you will be Ok with your investment and good luck to you. I might well continue myself if I could get away with a total like that.
Still gonna have to disagree with you on atlas Golf being the best in Marrakech though. Samanha is much better and more importantly already up and running.
Why don't you try negotiating with the developer. I'm sure they will reduce TVA to 15% and will cover all completion costs.
Also try to negotiate a discount of upto 30%, it's worth a try, you have nothing to loose. If not then get your deposit back.
I wish you luck in whatever you decide to do.
Do not invest in morocco, your better off trying your luck in the casino, least there you
know the odds are the house usually comes out on top in end.
and the house will pay out if you win.
Dear Redangel,Hi Barry,
As far as I'm aware the developer/development is not in receivership. I'm also aware of two individuals who got their deposits back less the 25% cancellation fee. Only after many trips and e-mail to Marrakech.
The Golf course was well into construction when I visited.