I have read on another forum that there is a question regarding the status of some of the developments in Sadia and that some are designated for rental use only and there are lots of restrictions on personal use. Does anyone know anything about this?

quote:

Originally posted by Lompablue:
I have read on another forum that there is a question regarding the status of some of the developments in Sadia and that some are designated for rental use only and there are lots of restrictions on personal use. Does anyone know anything about this?

I understand this applies to some of the properties built by Fadesa the Spannish developer.

I avoided those properties as they were due to complete way before the whole site is built so will rub shoulders with cement mixers!

A lot of us have gone for the Lejardindefleur product managed by an English guy. No restrictions apply to my villa. I think a guaranteed rental pool will be available and perhaps restrictions might apply in that case.

From what I gather, these restrictions relate to the RT and VVT plots, although these restrictions wont be in place by the time the varying sites complete, as the legislation behind this is being changed for the Plan Azure sites. I have also heard the Prime Minister will be in the area over the next few weeks, to oversee these changes.

Basically, the RT and VVT sites are earmarked as holiday home and holiday village areas (Residence Touristique, Village de Vacance Touristique)and the main stipulation is that there isnt just a building (AP4 and AP6 anyone) there has to be facilities on these plots to satisfy the regulations and they have to come furnished, i.e Clubhouses, swimming pools, tennis courts etc etc.
I heard that 70% of owners would be forced into renting their property for at least 9 years or something along those lines, and the title deeds wont be handed over on completion. Which is why I looked into it.

I have checked my contract and it states that title deeds will be handed over on completion, so if they arent, we all have a instant get-out clause.

I for one am certainly not worrying about it.

I have a property on RT1, which has three occupancy options; full handover to management co., 4 weeks (2 hi, 2 lo) or personal use only. The proviso on the latter that its not 'marketed' for sub let. Sub letting to 'friends and family' is acceptible. However, I had my contract scrutinised by a Moroccan property law specialsist who advised under Moroccan law that as owners these restrictions cannot be imposed. I too am not worried and like rumpola feel there is plenty to dine out on.

I agree with Thor that these properties are completing a tad too early (although they have been delayed) and I can't see Sadia being a place to be until at least 2009 BUT we do have the annual option for a miserly 2.5% (of sale price), which with the considerable reduction (compared to RT2) should offset in our favour. Furthermore RT1 has, in my opionion, one of the (if not the) best location on the whole development.

I just hope the we have all made a brave and good decision.

i tried to get some more information from the developers of le jardin and oasis and they both said that you were free to rent or otherwise or rent through another company. I have had the draft contract but there is nothing about any restrictions or having to rent through the management company if they wanted to rent out. I suppose at the end of the day it will be determined by the final sales contract. But I don't want to tie up money for two years to then find out I may have to pull out. Does anyone know if the apartments in Lixus will have the same restrictions?

Lompablue, I hear you asking about restrictions on Port Lixus, as far as I am aware the Villa's will not be in a rental pool, however the condo units (La Plage) will be in rental pool, I personally think having this rental pool is a good idea, thats because I am not planning on using the suite much for personal use, its more of an investment, thus myselfhoosing to buy on La Plage, Port Lixus. Im assuming your buying a place on Saidia to use as & when you require ?

We want to use it for the family and rent occasionally. I was at an exhibition recently and saw details of some penthouse apartments just behind the condo units which looked interesting. I didn't pay much attention at the time as we had decided to go ahead with Saidia. I remember the prices were slightly cheaper though. i disregarded the hotel units because i think they are overpriced and we wouldn't get the usage we want.