I have purchased a villa on 'Le Jardin de Fleur' for which I have recently received my second 20% invoice. Has anybody paid their second installment yet?
Does anybody know the situation regarding the planning consent?
nmarsh, your best source of information should be the agent you purchased from, they will be able to raise these questions with the developer, if you dont have luck through your agent let me know & i'll try find out more info for you.
I run the LJDF Owners Group and you're the first one on VVT8 that appears to have received their second invoice. I am purchasing on RT7 and my solicitors are still awaiting proof of the full planning permission which will enable them to start construction. At present they are just laying the foundations. If you signed your contracts over six months ago then you should also have your furnishings list as well and some of the RT7 owners are also awaiting this before making their second payment.
Hi, I had reserved a Grande Villa, but after an inspection trip last week, have decided against. I didn't like the fact that they are surrounded on two sides by apartments and townhouses and that the view across the lake is to three story villas - much closer than I had thought from the plan. Not a grand setting for grand villas! I think I'm probably being too picky and the final result will be that they are lovely villas in a beautiful landscaped setting, however they are expensive and 'when in doubt, do nowt'! I don't feel that the resort is going to be as upmarket as the brochures/shops/hotels would have us believe, but of course I could be wrong. It was higher density then I was expecting, and although very nice, there are LOTS of apartments there which will prevent it being so 'exclusive'. I still intend to invest there, but will be be putting my money into cheaper property, probably in Village Du Sport.
zeeniebabes, i think your correct about the surrounding areas of the Grande Villa's, however the actual build / design are amazing. You mention you'll go for something on Saidia have you considered the Sahara Beach & Spa Resort (RT-6), Location os the apart hotel is great & you'll also be looking at a leaseback scheme offering 9 years of rental returns, if you require more info let us know.
Hi Investor27 (is 27 your age or number of investment properties?*g*) I haven't seriously looked at Sahara Beach, other than to know that they are in a nice spot, but I gather the yield is low. I'm not sure yet what I will committ to, but I would like to get something for me and my family to use as and when - so don't think the apart hotel offers that kind of flexibility. Where abouts have you invested and have you also bought in other countries? I gather you are an agent?
I had also reserved a Grande Villa but decided to cancel. I am just not yet convinced that Morocco can command such high prices outside Marrakech. You are right though Zeeniebabes, the villa designs are stunning and if Saidia realises its potential then one day we may regret our decision! I wish I had got in on VVT-8 in the early days to be honest.
There are a few Bougainville villas on VVT8 which have come up for sale again - obviously people have pulled out. They are all front-line golf and are currently £2-3000 cheaper than they were last May because of the improvements in the exchange rate. They might be worth a look at.
Thanks very much, last time I spoke to my agent they said they had all sold out. Do you know anything about the Fairways villas as well? Chris at Saffron Villas said they would be released this month but I haven't heard anything yet. Have you bought on Saidia?
I still intend to invest there, but will be be putting my money into cheaper property, probably in Village Du Sport.
I think the fact so many premiership footballers and managers are buying here will give a boost to values once Jo public get to know these celebs use the site, after 2010.
As for top end luxury, I dont think so, but still the investment case is very strong and I would say unique.
Marina berths are still available, but you can only purchase them if you own a property on MS and cannot rent them out. Fadesa are sitting on about 500 of them because they fear that the marina will turn into a ghost town and they are going to rent them out themselves. Apparently, it´s going to be really hard to sell them because you have to give Fadesa first refusal (they set the price as well) and if they have 99 10 metre berths on their books, why are they going to want yours back? Thorr, RT-6 is pretty close to top end luxury and the Fairways villas won´t be out untill next month - about the same time as the villas on VVT-6. My money is on Fairways being cheaper, but that will be down to plot location.
Andyk2 - Thanks for the information on the marina berths. Definitely not as good an investment as I first thought taking all that in to consideration.
Zeeniebabies - The Fairways villas will be on V5 and V6. They are going to be Riad style with an inner courtyard incorporated. I will try and get some more information.
All, I am in a position to offer a couple of villa's for sale on VVT-8, a few have become available, anyone interested do advise & i'll provide you with the details. You may show your interest by replying here or sending myself a PM on the buying moroccan property forum.
Marina berths are certainly a strange offering for property investors. Draw backs include: 1) You are purchasing a 20 year lease, not freehold title. 2) While lease is renewable, it will likely cost more for the next 20 year lease. (This is the norm with sailing leases.) 3) If memory serves me correctly you either use the berth yourself or you rent it via Port Authority that Fadesa sets up. (This will likely limit your rental and what’s to stop the Port Authority renting yours less than the next mans?) 4) Saidia is a good 24 hour sail from South of Spain. It isn’t the hop and skip that Tangier is from Gibraltar. That’s not ideal for rentals. 5) There aren’t many other good marinas / places that yachting / boating fraternity will want to visit nearby. This could hamper rentals. 6) You are paying 100% of purchase price well before Saidia is on the tourist map and well before your investment starts to pull its weight. 7) There’s a risk that Fadesa flood the market with marina berths a few years from now when you are looking to sell.
I feel if you were to go for a berth you are either making a lifestyle decision or hoping that if Saidia takes off there will be enough wealthy people that just have to have a berth.
Andy2k. There seems to be quite a bit of confusion over what happens when people want to sell on their leases. Fadesa and the lack of information they have provided are probably to blame for that. Not saying what follows is what applies, but it is what Fadesa told me when I asked a few months ago. (I reserved a berth, but dropped out.) Fadesa said I would set the price but that the Port Authority would have to agree to it. Idea is that if you are needing to raise funds quickly you aren’t selling berth to a third party well under market value. In this way Fadesa / Port Authority are helping to maintain exclusivity of marina / Saidia.
We bought an apartment in RT7 and still have not seen evidence of planning permission. Is anyone else in a similar position? Our solicitors seem keen to deposit our second 20% into a Moroccon account they insist will be safe - we have decided to hold onto our deposits as I am insisting on evidence.
I would be really interested in knowing of anyone else has seen planning permission yet for RT7s.
hello all, im new to this forum but I have extensive knowledge of overseas property - especially in Morocco. I considered JDF, however I decline for the following reason (which are still true today); 1. No planning permission 2. Touristic land - implications not necessary bad - however in Saidia I dont believe it will work especially as there are 8 hotels in this stand alone resort. 3. Restricted use due to touristic destination - have to use a mangemnet company - and you as a owner are responsible for any lose incurred (problem re rental when they are 8 hotels) 4. No track record - the company has great marketing but that is about it! they have not built anything to date in 2 yrs. 5. No bank gurantees or even escrow accounts.
Hello... just joined the Saidia chat. Most are talking about the Le Jarden de Fleur resort. I have put my deposit and 20% down for Villa 63 Type C at the Oasis Beach and Gold Resort. I would appreciate to hear from those who are also buying there and their thoughts and experiences negative and positive. Has anyone actually signed the main Contract - any additional clauses or amendments needed? My solictor tells me the hold up on construction is due to licences, apparently some work started prior to these being issued on the LJDF resort, but was risky as they may have to amend their build etc Hence Oasis have learnt from them and are holding off now, like everyone is. Is this right, or is this a flog off and the real reason is £££ and not selling enough units? I bought my villa back in December 06 and there still are units available. This chat room sends nevousness though camp with talk about companies going bust... Oh the joys of off plan, why we do it to ourselves we never know!! Thanks for any feedback in advance, Olivia
