marrakech
Hej Paul..i am just curious to know if you still visit marrakech....? alicia
I just wanted to make sure that you were aware of a couple of points about Gardens of Fedala. As a company we do now sell this but there are a couple of things that we warn all clients about before purchasing:
(1) The 9 year buyback guarantee isnt what it seems and isnt as stated in the marketing brochure and wont guarantee you being able to sell the property for the original price unless certain conditions are met
(2) The 9 year guaranteed rental backed by AXA is not insured by AXA for the full 9 years, just 2 of them
These are the main points worth noting as most agents are miss selling this resort and do not inform clients of these points. Hopefully you used one of the good ones who has done their homework and gone through the contracts etc.
Even with these points the development we feel is still good for those looking for a mix of lifestyle and investment. I still see nothing to beat El Oasis on price per SQm against location and potential returns, however it is an investment product only.
Soupdragon, you raised a couple of good points - there are definately a few developments within striking distance of the main square however these just arent suited as an investment product, which is primarily what we offer. Prices are higher, deposits are higher, rental returns I cannot see being above 10% gross however you are in a better location - really depends on what you are after.
Regarding the history of El Oasis and the bad publicity:
The publicity has mainly been around Dreamword and their Tangiers resort, this has then reflected onto the Marrakech development. I'm not aware of any major issues with Marrakech - the pricing structure changed a couple of times when first launched and there was their own guarantee package which was not underwritten. For the last few months the prices have been set at €1550 per square metre and the rent guarantee offered by a third party, underwritten by a large German insurance company.
El Oasis now offers better security than most developments. For example, you have a VEFA contract and bank guarantee on the development build itself. On Fedala you do not get this. I could go on about the differences for a long time, the point I'm trying to make is that both of these developments are good for different reasons. In fact every development in Marrakech will have a buyer suited to it somewhere. We are looking at providing maximum capital and rental returns for our clients and are at investment with just a hint of lifestyle thrown in if wanted.
El Oasis at the moment fits the bill on that front and at the moment the well located units are selling fast. Certain styles with large terraces, units overlooking the central area are all now limited availability. The price doesnt change according to location so for resale purposes its important to get a well located apartment and the best ones will be gone this year for sure.
Fedala fits some of our investors better and again, there are units and areas of the resort (nearer the Atlas mountains, face to the West for the sunset etc etc) which are more popular and should be considered when purchasing.
Paul[/QUOTE]
