Tanjah, tinja and Houara

[moroccomania]

Ok, just some food for thought.

Tanjah: pre-launch prices (before planning and price increase) - Euros 1,100 per sq.m.

Tinja: investor launch prices (heard through the grapevine) - Euros 1,000 per sq.m. - But on retal, presumed to be around Euros 1,500 per sq.m.

Houara: Phase 1 prices - Euros 2,070 per sq.m.

Agreed that Houara is 5 STAR and luxury with furniture, etc., but that is more the aesthetics. What about the investment side of things - someone buying into tanjah has got the potential to sell on at say E1,500 per sq.m. and make a decent profit. The next investor buying will also have some growth to follow through.

Same with Tinja, and with the Emaar name, the profits are sure to follow anyway. However, buying into Houara at over E2,000 per sq.m., what kind of exit are we talking about and who will be the resale market. A typical 2 bed unit in houara is around E340,000 - I can't imagine what sort of resale prices we'd be looking at.

Ofcourse, if you're talking rental, that's different. But I'm just comparing capital growth and saleability.

Comments anyone?

 

[nisrine]

I think you do not have full knowledge of al Houara prices. The bottom price for a typical 2 bed unit was 170.500 Euros in the first phase and not 340.000 euros which is double. and even in the second phase the price of 2 bed unit is still less than what you mentioned previously. I do not know from where you get those prices?

 

[Lee Filkins]

Chalk & Cheese.

 

[SCAFF]

Prices below.


Cheapest 1 bed
UK Estate agents with homes, houses & property for sale on rightmove.co.uk



Cheapest 2 bed
UK Estate agents with homes, houses & property for sale on rightmove.co.uk

Cheapest 3 bed
UK Estate agents with homes, houses & property for sale on rightmove.co.uk


Cheapest 3 bed penthouse
UK Estate agents with homes, houses & property for sale on rightmove.co.uk


Cheapest villa
UK Estate agents with homes, houses & property for sale on rightmove.co.uk


Most expensive
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[Lee Filkins]

These prices are perhaps historic and just a come on.

 

[nisrine]

Well, what matters is that everyday more and more people buy and they accept the price. If people did not buy, they would not be a second phase and other phases.

 

[moroccomania]

Quite possibly the prices are historic....I was basing my E340k on what a friend of mine found out from the property exhibition in london this weekend. Perhaps that was one of the few remaining units??

Anyhow, the purchase price is not really the topic here....its the price per sqm.

Firstly, camel, would you care to elaborate on the chalk and cheese comment.......I do understand they are very different projects, but you have to look at it from an investors eye, not an owners eye.

nisrine, to a certain extent, you are right about what people pay is the price for the property. But, there also has to be a "fair" price. Comparatively, houara is expensive and there is no denying it from an investment standpoint. From an ownership standpoint, everything boils down to personal preference, so cannot comment.

 

[moroccomania]

by the way, anyone want to comment on the resalability angle of this project? do you think you will find a buyer instantly for your property on this project on the resale market as opposed to say tinja???

 

[nisrine]

Again, we have to bear in my mind that Al Houara is a 5 stars resort which targets rich people and investors who are interested to generate a good rental income or to resell it after some years. Thank God, there is Tinja and other developments to staisfy all needs.

Only people who are interested in luxury and exclusivity who buy and who will buy from Al Houara and those people will not care much about the price because they know that their neighbours will be of the same level as them. The fact that there are some palaces available for sale at Al Houara can give an idea about the high level of the resort.

 

[ezrnow]

The prices you mentioned on Rightmove are definitely just a come on… A phone call to Insight Morocco confirmed that the majority of phase 1 apartments and villas were already sold and that there with only a few remaining.. My guess is that with the developer being middle eastern, most of the origional units have been purchased by wealthy locals from the UAE. Now whether that’s true or not, it really doesn’t matter, but having bought and sold property in Dubai, I know that agents play a big role in setting the pace for sales and it’s certain the Sotheby’s are employing a number of marketing gimmicks to ramp up the interest.

Having said that, I have seen the overall site plan and really do like it – compared to Tanjah and Tinja, the developments is far less dense in build quantity and there is far more emphasis given to landscaping and overall finish of the apartments - which look the best out of the lot. I can’t comment on the prices, as I do not know anything about the prices of the Tinja units and have really struggled to find accurate info on this development, but 2,070 Euros per sq.m. for the Tangiers coast does seem a little on the high side!

For someone who has got the money and wants the luxury, Tinja seems a good bet, but I don’t think they’ll make a lot of money by reselling quickly. In the long run it could prove dividends and my feeling is that it will produce some of the best returns out of the 3 projects – although Emaar already has a cult following and their products always have a good resale value, but again not too sure on their prices!

 

[nisrine]

Well, the prices available in the websites are not the bottom price, there are some units costing less than that. I am selling the project and I know all the prices by heart. The prices on the websites reflect the price of most of the units.
Well, if you are interested to buy from Al Houara, just go ahead.

 

[nisrine]

No, it is not true, the prices available in the Rightmove are not just the starting prices. In the first phase, the prices was much lesser than. But the prices available in the website are the prices of most units . Normally, units located in the first floor or even in the Ground floor are less than that.
so, if someone interested, just go ahead.

 

[Lee Filkins]

Moroccomania,
Its does not matter wether you look with Investors eye or owners eye. It is chalk & cheese and it would not be not be fair to compare as like with like is not being compared here.

To others: Al houra in the long run i.e. five years from now. Wyndham travel will bring a lot of people to the holiday apartments through out the year in addition Hyat & Kapinski will also have its guest. This will give Alhoura a massive exposure.

Not to forget that when the wealthy Arabs will come, in keeping up with their equilvent of Jones or shall call it Abdul's, they would want to buy and at that point there will all be sold out thus creating a serious premium.

 

[moroccomania]

I agree they are different - but an investors objective is to make money irrespective of what the development looks like. So from that point of view, even if we compare chalk and cheese, i would want to know whether there is more demand for chalk or for cheese so that i know what to buy!

Wyndham Travel will bring in tourists and that is good for rental yields. But how long it can be sustained for, that is questionable. Houara may be one resort, but there will be many more to come which will drop rental yields and split the tourists.

Finally, on the subject of rich arabs wanting to buy apartments, thats what everyone thought about Dubai. Sure, it worked initially, but most of the investors are sitting on properties hoping for a premium of even 10% to exit. And the wealthy arabs, im pretty sure, will not be looking at buying a 2 bed apartment overlooking a pool, will they?

 

[Sara26]

Hi all,

Nice to meet you here. I am one of Houara customers and I have plans to buy from other developments but I am still looking.

 

[Lee Filkins]

Moroccomania:
I agree chalk has its price & cheese has its own price. As far as yeilds are concerned yes there will be other developments. The nearest one with the same the offering will be Port Lixus, which is another twenty minutes drive from Tangiers.

I use the word rich Arabs losely. I agree that super rich will not buy a two bedroom apartment. But as you may know that there is a very large middle class aspiring to move the next level.

 

[Sara26]

Re: Tanjah, tinja and Houara (Bad experience with Al Houara)

Actually, guys, I do not have a very good experience with Houarra. My friend was one the first people who booked a 1 bed apartment. He purchased it with a very good price and though he encouraged me to buy because he was informed that there was limited numbers of 1 bed apartments in the first phase. I did not care about that because all the developers say the same thing.

After one month and half, I contacted one of the agents from which my friend purchased and I was disappointed to know that all the 1 bed apartments of the first phase were gone and also only three or four 1 bed apartments available in the second phase and that the third phase will be soon released once these ones are reserved. I decided to take 2 bed apartment with a good price because there was a not a big difference in price and also the ones available were not in the upper floors.

But i really envy my friend for being among the first who buy.

 

[Lee Filkins]

Propertymania: I dont understand how you have a bad experience will Al -houra ? You were told by the agent/developer that there were limited one bedrooms. You thought this was a sales pitch and ignored your friends advise. You did not play your cards and your sceptism cost you the property of your first choice.

I should not envy your friend. I should learn from him that he was decisive and being an early bird caught the worm. .

 

[nisrine]

In fact, Property mania, many people like you have lost their cherished apartments because they think we lie to them when we tell them we do not have many units available and that the price will go up.

 

[mintmagic]

Re: Tanjah, tinja and Houara (Bad experience with Al Houara)

propertymania,

Can you elaborate on your bad experience, and also details of which unit your friend bought at what price?