Hi everyone, just returned from a week in Agadir. Had a relaxing holiday but went with view to buying in morocco. Whilst we were there the King came to Agadir and signed a contract to say he would be investing in the area.Although i can see the future possibilities in Morocco I think it will take a long time poss 10 15years to catch on to the British. The infrastructure is very poor, but if you are willing to tie up your money for a good few years then go for it. Dont want to put a downer on Morocco I enjoyed it, but investment wise not for me. Just another point of view.
Read the article on morocco in the The Economist(April 8th- In his fathers shadow). Morocco may not be as good an investment as everyone is making it out to be.
Originally posted by lamby: Hi everyone, just returned from a week in Agadir. Had a relaxing holiday but went with view to buying in morocco. Whilst we were there the King came to Agadir and signed a contract to say he would be investing in the area.Although i can see the future possibilities in Morocco I think it will take a long time poss 10 15years to catch on to the British. The infrastructure is very poor, but if you are willing to tie up your money for a good few years then go for it. Dont want to put a downer on Morocco I enjoyed it, but investment wise not for me. Just another point of view.
Appreciate the input but would mention that Morocco is a big place, Agadir is but one sid eof the story.
With every new investment there will always be those that decide against. I saw this in the mid nineties when the vast majority of people simply couldnt get thier head around UK B2L - afterall prices had fallen 6 years in a row!
In 1997 I urged a freind to buy in Dubai. He made almost the same comments you make now.
I think the real driver for Morocco is the existing Spannish based real estate infrastructure. With such a weight of marketing machinery the market will drive itself and once the low cost airlines pile in it will be unstoppable.
Again I wouldnt invest in small developments. Saidia will be a cutting edge large secure site with vast array of facilities so will have its own market dynamic. Its not everyday an 800 berth marina appears on the crowded Med.
Best of luck to you. I invested Berlin last year. Another key target is Estonia - the new Singapore.
Ryanair sees potential in Morocco. They have just announced a five year agreement with the Moroccan government to start flying big scale to Morocco.
Ryanair commits to: - developing up to 20 routes - delivering almost 1 million passengers/year in 5 years time (currently they don't fly, although some flight will start later this year)
This is really big news. Lots of people have been waiting for this kind of commitments from low cost airlines before investing in Morocco. I could see property prices rising at an even higher rate than the present one (which is pretty impressive already).
So a huge comittment from Ryanair to add to the £25.3 bn commitment from the worlds biggest developer the 'Emaar Property' group out of Dubai, not to mention Spains second largest developer 'Fadesa' that is head developer on the Saidia site.
Hi dont get me wrong I think morocco is a good investment for the future but the English agents are going to have to pull their finger out and market the place.People have a misconception of Morocco because of their religion, i found the people warm and friendly. How else are british people going to get to know about the fantastic weather, safe clean beaches and low cost of living if they are not told about in (newspapers etc).Whilst over there i read abby arrons ,buying in morocco a must read if you are thinking of buying there.The french favour morocco as we brits favoured spain. If the british do not know what a great holiday destination it is who are the investors going to rent to?As i said i am not trying to prmote any particular development or put people off buying there just giving an alternative point of view.
I just bought the magazine A place in the sun, and there is an article about renovating a Riad, anway it also mentions that Easyjet flies to Marrakech daily from 4th June 06 from Gatwick from £40.98 RETURN Not bad eh! and that includes taxes!!
Originally posted by lamby: Hi dont get me wrong I think morocco is a good investment for the future but the English agents are going to have to pull their finger out and market the place.People have a misconception of Morocco because of their religion, i found the people warm and friendly. How else are british people going to get to know about the fantastic weather, safe clean beaches and low cost of living if they are not told about in (newspapers etc).Whilst over there i read abby arrons ,buying in morocco a must read if you are thinking of buying there.The french favour morocco as we brits favoured spain. If the british do not know what a great holiday destination it is who are the investors going to rent to?As i said i am not trying to prmote any particular development or put people off buying there just giving an alternative point of view.
Lamby there are shed - loads of UK and Spannish based agents promoting Morocco - thats a key reason Ive invested! Its easy for those in Spain as Morocco is so close.
I keep track of this closely and I am seeing more agents pile - in every week.
Ive just heard the developers of Sun and Lost City are now also moving into Morocco. Its unstoppable now.
La Coruña, 25 April 2006.- FADESA plans to build a luxury residential and tourist complex in one of Morocco’s most exclusive zones of residential tourism, overlooking a beautiful one-kilometre stretch of beach.
With an investment estimated at roughly 150 million euros, the project includes 2189 homes offering stunning views of the sea. There will be approximately 1656 residential flats, 354 tourist flats and 179 villas, all aimed primarily at the second home market.
Sprawling out over 55 hectares, the complex will be located on Morocco’s Mediterranean coast between Tetuán and Ceuta, at a distance of 4 kilometres from the latter city. This new development project undertaken by FADESA in Morocco will also include a hotel, to be located in an extensive space of over 33,000 m2 and a 55,000 m2 area dotted with restaurants and places of entertainment.
FADESA in Morocco After breaking into the Moroccan market in 2000, FADESA has become the leading Spanish company to forge its way in the construction of developments in this country.
Their first venture, a promotional high-rise development consisting of 1500 homes in Rabat, has proven to be a commercial success, with practically all of the homes having been sold. This ground-breaking development led to the construction of another similar project in the popular tourist destination of Agadir, Tafouk Residential Complex, comprising 1100 collective homes, over 50% of which have already been sold.
In addition to the construction of housing estates, FADESA is also involved in developing the country’s patrimony. The first step taken in this direction was the purchase of land in the heart of the financial district of Casablanca for the construction of a hotel. This 4-star Premium establishment, boasting 85 rooms, opened its doors on March 17th of this year under the name of Barceló Casablanca.
In 2003, FADESA was awarded a tender by the Moroccan government for the development of Mediterrania Saïdia, a large-scale tourist and residential complex located in the northern part of the country opposite the coast of Almería. This resort will include 3000 homes and 16,000 hotel beds, a marina, three golf courses and a shopping and service area. Construction on the Mediterránea Saïdia project is currently underway and moving along at a good pace. The first homes are expected to be ready next year and the same date is set for the opening of the first hotel in the complex.
With a solid reputation as one of the most important Spanish companies investing in Morocco, FADESA has plans for another large-scale residential and hotel project on the shores of the Bay of Tangiers. In this sense, FADESA and Anjoca will build Tangiers City Center, a complex with an estimated investment of 90 million euros and a projected construction time of five years. With its ultra-modern design, Tangiers City Center will hold 850 homes, two 4 or 5 star hotels offering some 1000 beds, an immense 10,161 m2office building, a commercial and leisure centre expanding 32,000 m2 and a parking area occupying more than 56,000 m2.
I know Morocco is being marketed by the agents for the developers, I am talking about Travel agents of all the brochures i looked in for info on Morocco only one had more than 4 hotels and the write ups were very basic. Of course people who have already bought there want to tell others of the potential to push their own investment up, makes good business sense. Those who have bought on the Atlantic for instance say its the best place to invest and those like yourself who have bought on the med side the same.
Just looked at Real estate tv on sky, usually its the same old ads in Spain Cyprus or Florida .BUT today they advertised ASILAH. So maybe we will see more of Morocco.
Hi this is what morocco needs more exposure. To be honest my husband and i had a chat at the weekend and we are going to wait a year just to see which developments take off, with a view to buying over there. I really enjoyed our holiday so maybe this time next year? At the moment too many rumours about plans not being passed on certain developments and negative comments about others. The only development which is getting positive press is the Saidia one which to be quite honest is way out of our price range.
Have you looked on www.eyeonworldwide.com another forum, today there is a piece on Morocco and he has actually bought on Paradise beach, so coverage is getting there, sooner rather than later! However regarding planning permission and changing of plans etc, whilst it is unnerving, that is what happens when you buy off plan.You are in at the very start. If you dont do it now, keep a close eye on things so you dont miss the boat. And dont forget some people seem to rave about certain sites because they are selling them! Good luck
Went on an inspection trip to Morocco in March with the intention NOT to buy at Marina Smir, a 20 minute drive from Ceuta.
The area is billed as the golden mile, with the focal point being the marina. Plenty of nice restaurants, a couple of hotels and shops at present. We could see that there is obviously a lot happening, a water park just behind the devopment we looked at, had just begun construction. We looked at the surrounding infrastructure, golf courses etc and decided to buy a 3 bed apartment practically on the beachfront.
You only have to talk to the locals, hotel workers etc to see that stuff is definately happening there. The biggest thing for me was that all the locals love the idea that the king has a palace just up the road, and is their neighbour. Thats the big draw to the area (for Moroccans anyway..)who will be the renters of my apartment when its finished next June..
I came to the conclusion that as a place to live or retire it didnt interest me, but as an investment, and holiday destination it ticked all the boxes.
I will be going on an inspection trip shortly and am shortlisting the places i want to see - where did you buy your 3 bed beachfront property and from which agent?
Hi They are other places that can be a good investment closer to England and Ireland. Like in France Many places are served with Ryanair and other low costs companies. In Limousin, you can find nices cottages for as low as 30000euros like the one my mother is selling. Prices in France and especially Limousin are going up and there is still growth potential. Being closer to England and Ireland means that you can have alternative ways for travelling than plane. What about if the flight tickets are not so cheap in a few years time ? Also when you install there, you can bring your things by car as well and not spend 3 days to reach your holiday home (e.g.Spain). philkodak@oceanfree.net I have pictures of the cottages.
