Ive sold my UK B2Ls to invest in Morocco

seven-day-weekend

We bought a traditional Spanish house in a village in the mountains three years ago for £35,000.

Yes....our Spanish neighbours think we are rolling in it! However, it was the same price we'd just sold an ex-local authority prefab for!

However, inland every time, not the Costas...our village is still traditionally Spanish and not a golf course in sight .

seven-day-weekend

lowis wrote:

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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

Our Spanish neighbours could not have made us more welcome.

lowis

@ seven day weekend - i'm sure, i was just trying to make the point that factors such as current political climate etc can affect where to invest money.

point3

I loved Morocco! Moorish design has become very fashionable in recent years and it's tempting to want to create a designer pad of your own, but I'd expect that the financial returns as a buy-to-let would not be high. Room rents can be less than £20 a night even in the most popular areas and after maintenance costs, I think you would struggle to make any profit. Places like Agadir are oversupplied and rooms are often unfilled - look at all the last minute bargains offered by the travel agencies to try to fill them!

Conrad

Tassotti wrote:

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!!!

Typical little Englander speak!

Look, when buying my place I rubbed shoulders with Irish, Germans, Belgians, Poles, Moroccans and French. Even Americans are buying there.

The price on my development has already increased 6% in 3 months, and the developer increases them now 2% each month and demand just increases.

Conrad

point3 wrote:

I loved Morocco! Moorish design has become very fashionable in recent years and it's tempting to want to create a designer pad of your own, but I'd expect that the financial returns as a buy-to-let would not be high. Room rents can be less than £20 a night even in the most popular areas and after maintenance costs, I think you would struggle to make any profit. Places like Agadir are oversupplied and rooms are often unfilled - look at all the last minute bargains offered by the travel agencies to try to fill them!

https://www.villasofmorocco.com and https://www.fleewinter.co.uk feature many properties generating thosands of pounds per week.

Morocco is rapidly changing.

The reason I started this thread was to try and get people to recognise what an amazing opportunity this is.

Some of the worlds largest companies are developing, Ryanair investing in 20 routes, international hotel chains snapping land up. Anyone who cant see this is probably the best investment they are likely to come across is quite frankly blind.

The point on forums like this is to share ideas. Discussion about silly savings plans is pretty irrelevant when you can make 30% pa over 5 years on a property.

Rentals on the decent sites will far exceed the returns of UK or Spannish property due to limited supply (for the next 5 years).

People worrying about saving a few pounds here and there on credit cards is energy wasted when they could significantly improve thier financial standing by investing.

Conrad

meanmachine wrote:

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.

Mean I like you beleive a UK crash is likely and that to try and squeeze a few more quid from UK property is pointless. I have since invested abroad including Morocco.

Your point about land supply is not right. The best new developments offer high security, health facilities, restaurants, marinas etc etc etc, and such place are very much in short supply hence rapid price growth.

Big UK companies are buying real estate on Meditteranea Saidia, do you really think they would do this without having done a thorough risk / reward anaysis?

Ex - communist Europeans want the GDP we have and they will obtain it more or less. They are also driving demand for beach front property.
Morocco has a 12 month season (espcially the med coast).

Conrad

michaels wrote:

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?

The planet is shrinking and world populations rapidly expanding.

Morocco and other new tourist areas are attracting not only the Brits but people from Eastern Europe with thier new found wealth. There are a lot of ex - communist nations experiencing the kind of growth we had in the 1950s. They are no different to us in terms of aspirations and you can be sure thier GDP will match ours within 15 years.

The Mococcn developments with lots of facilities and security are a 'home from home' and in great demand. Overdevelopment is at least 10 years away.

meanmachine_2

Conrad wrote:

The planet is shrinking and world populations rapidly expanding.

That's one way of looking at it.

The other is that there is a rapidly expanding demand for limited resources and commodities, which could unleash an inflationary firestorm.

And when that happens, the world - which has been awash with cheap cash for the last 10 years - sees its borrowing costs soar. End of the global housing bubble.

You might be lucky with Morocco, and it could buck the trend in first world countries like the UK, in which case your risk deserves to be rewarded.

Keep us updated.

point3

Ryanair have announced up to 20 routes on thier website.

This means that there will be 2 new Ryanair routes from Frankfurt (Hahn) to Morocco.

As an example I am buying on what I consider the most prestigous extensive resort in the Med. Its called Saidia.

Hahaha. This is a review of Saidia: http://lexicorient.com/morocco/saidia.htm

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.

Hmm. So they have your money for 3 years before it's ready? :think:

Im hoping the vast array of facilities set in landscaped nature reserve and three golf courses will ensure even winter trade is brisk.

I hope so too for your sake.

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

How many of those visitors went to Saidia?