Ive sold my UK B2Ls to invest in Morocco

Conrad

If anyone is interested Im more than happy to give advice based on my experience. I chose Morocco as it is IMO the best real estate investment to to be had.

The main developments in Morocco are being built by some of the largest developers in the world, such is thier confidence in this maket which has a 12 month season and is only a few minutes further than Spain (North Morocco).

Ryanair have announced up to 20 routes on thier website.

As an example I am buying on what I consider the most prestigous extensive resort in the Med. Its called Saidia. Many designer brands have already purchased shops on this vast gated devepoment on a 7km beach due to be completed 2009. Prices have already increased 6% in the last 2 months and I have only put a £2000 reservation fee down!

There will be three 18 hole designed golf courses, 2 large international supermarkets, 8 up - market hotels (the guests will be exposed to rental property), hospital, heli - pads, polo pitch, small footie stadium, world renowned bars such as 'Budha Bars', set in a vast nature reserve, Olympic standard sports facilities etc etc.

An 800 berth mega marina has just been flooded, all berths released are sold out. The site will be complete by 2009.
I put down 40% now, the rest in 2009.

Im hoping the vast array of facilities set in landscaped nature reserve and three golf courses will ensure even winter trade is brisk. An on - site Swiss company will let all the property.

Several agents who sell many world destinations have reported Morocco has become the most popular request in the last 2 months.

I recommend people stick to the large international developers to ensure thier investment is safe and professional.

michaels

Surely there remains the risk that too much development takes place - either locally or in simialr developments globablly and the demand is not there to support prices - especially if the global economy slows down?

lynzpower

Conrad

You seem to only ever post about this one subject.

I wonder, are you either sneakily promoting this venture or are you trying to convince yourself you are doing the right thing?

Tassotti

Rentals???

Buying a place abroad relies on holiday makers

If you are serious, and not an agent, consider how you will make repayments of the mortgage

Are mortgages available in Morrocco?

nelly_2

I found 20p today is anyone interested?

meanmachine_2

The potential problem with buying abroad is that Brits assume the same planning laws that exist in the uk (ie tight ones!) also apply elsewhere.

No problem buying a gaff in Spain, say, if you intend to vacation there regularly and don't count on capital gains. The problem with Spain is that, if there is a demand for property, supply increases to meet it.

I expect the same is true of Morocco.

Anyway, just thought I'd make that point. Although it does kind of undermine my argument re: the chances of a UK correction.

lowis

i was there not so long ago, every man and his dog is buying in morocco (well, i mean every interior design and their pooch actually) whether it be a riad or some soul less 'villa' on a mega-development

the scale of development just outside Marrakech on the way to the airport was scary! our taxi driver told us "it's all for foreigners" in not the most pleased of tones...

lovely place though.

Tassotti

lowis wrote:

our taxi driver told us "it's all for foreigners" in not the most pleased of tones...

This is the problem. These type of countries see Brits as wealthy. They charge as much as they like. What seems cheap to us (50K) is a massive amount of money to them.

By the way, what language do they speak in Morroco?

I learnt Bulgarian and saved 30 grand!!!

lowis

they speak moroccan arabic and french and the younger generation speak english very well.

i was there 2 days after the london bombings and some of the more 'fanatical' locals were a bit sneery with us (we were dressed appropriately) and a few found it funny to mimic the sound of exploding bombs as we walked by. nice. wouldn't want to invest any money where i wasn't welcome really...not that i have any to invest anyway

Tassotti

Good point.. Always visit the place you are investing in.

Reality is a long way from estate agents details.

lynzpower

nelly wrote:

I found 20p today is anyone interested?

Quick invest it :beer: