PropertyInvest,
Thanks for the link. I have read about the Tanjah development on some other forums. I have to say a lot of what I have read is negative. Things such as it is over-priced, the developers are a bit clueless and the recent inspection trip was a bit of a sham. Have you invested here? Did you go on the trip?

This might be idle gossip or an attempt for one developer to bash another's reputation but in my experience - a lot of truth comes out when people have a negative experience.

Thanks
A

Hi, no problems

I find that every development i have ever read about had good and bad reviews, makes it really hard to make a decison,I didnt go on the trip but a colleague of mine meet the developer and was very impressed and he a is very sucessful property investor.He bought there as well . I think maybe because planning permission wasnt granted there was problems, but that has just gone ahead and the documents are being recieved this week , hence why the prices are going up 20% as soon as the paper work is avalible.There is no dark holes and everything is fine with this development. I hope

The trick is to check any development for legality. The king is not allowing ANY evelopment to go ahead willy nilly. To apply for planning permission to build is a long process and is all looked at by the king and his ministers to ensure there is no overbuilding. This has in some areas for example around Marina Smir resulted in a curb on further development which will lead to price increases.

The Moroccan government is not stupid, one cannot allocate a certain area for curbed contolled development and tehn allow the remainder to spiral out of control! Providing licences and guarantees are in place you have no problem. Good luck!

Hi Investy,

Do you have a link so I may take a quick look?

Thanks and have a good Christmas.

Aaron

If you are looking to invest off plan in Morocco with low proportion due up front then you should consider Fadesa. They have two or three projects on the go and others in the pipeline where 30% is due before completion and can be spread over the build period. One development they launched 3 or 4 months back was (near Tangier) where prices came in about the £50k mark. It may meet your criteria if there are any more properties left. With Fadesa you have the comfort of knowing it is Spain's 2nd biggest developer building your property, so chances of build not being completed are reduced. Some smaller developers will provide bank guarantees, but don't assume that the guarantee will cover every eventuality. Its much like insurance back home, it only covers certain events and insurance with one company is not necessarily the same as another.

On Saidia, the accessibility mentioned earlier is a red herring. This resort is being built and there is nothing else of note nearby. Therefore accessibility is poor, but that is changing. Saidia will not be complete till the end of 2010, though I expect several budget airlines will be flying there before then. (Rynair, Atlas Blue and a new joint venture between Air France and Transavia all intend to fly there in the next year or two. Air Berlin, which has 20 plus routes to the further flung seaside resort of Agadir will likely follow suit.) Property in Saidia is more expensive than stand alone resorts, but still within your budget using Moroccan mortgage for leverage. Fadesa, Tassa and The Greens may be worth a look in Saidia.)

Useful links for Saidia:
Fadesa l Apartments & Villas in Spain & Morocco - 30% deposit can be spread over build period. You can negotiate payment terms with them..
Overseas property investment forum - TotallyProperty.com - Property Logic. 40% deposit and will drain most of your budget.
Grupo TASA - Tasa - Good luck with this one as their website was in Spanish last time I looked.

On Turkey - mortgage market is in its infancy with mortgages only being introduced a few months ago. HSBC are offering interest rates of around 20%. If interest rates were lower there I might consider Turkey further. Rental season there depends what your target market is and how well your property is located. If you are going for short term tourist lets then tread carefully as many tourist areas are quiet for all but the summer months. Others will have researched this more closely and be better placed to advise where you might consider should Turkey interest you.

Nobody has mentioned investing in closed funds as a route to investing abroad. The returns here can be very good (double your money in 2 to 4 years) as they tend to buy land, get planning permission, build the property then sell off plan. This means you are profiting from more stages of the development process. It is also simple. Once you have identified and researched the funds you put your feet up and leave the management to the fund provider. Its a very simple way to invest abroad and shares in the fund can normally be placed into SIPP or ISA if you chose. Most funds are run off shore in the Channel Islands (so profits can be maximised), so fund administrators in Guernsey, like Bordeaux Services, have details of those running such funds. Down side is your money being tied in and provides no leverage. (Typically money tied in for 5 years, though it is possible to sell your stake if stock broker can find a buyer.)

Hi totallyproperty

The term 'closed' is used as the funds can not normally be purchased once subscription is complete. The fund normally runs for a pre-determined period at the end of which all assets are expected to have been sold and profit, together with original stake, redistributed to the fund members. Link beneath is for Bordeax Services. They administer a few funds for areas I'm interested in, such as Montenegro and the Baltic States.

Bordeaux Services (Guernsey) Limited

It is worth noting that many of these funds will state in their literature that a high minimum investment applies (frequently 100k Euros.). However, minimum investment is normally at the Director's discretion and you will have a good chance to get in with considerably less.

Things to consider when considering such funds include:
- Track record of those running the fund.
- Strategy being applied by fund manager. (What countries are they investing in? Are they tourist or commerce focussed? Is target market for selling residential property to locals or otherwise?)
- Renumeration of fund managers etc. Better if they receive small amount during the term of the fund and make their money from fund being successful.

You'll probably realise from description above that 'Entry level' doesn't really apply. Everyone that subscribes before the fund is opened is buying in at the same price per share. (The bigger your stake the more shares you get.)

My view is that normal stocks and shares that invest in property carry the risk that the market value of the stock does not mirror the value of the assets held. I feel this is especially so when interest rates are rising and there is less money available for investment. You can mitigate for this risk by investing in closed funds. I've invested in the Oxford Property Development Fund. It is focusing on providing good quality accommodation for local work forces just outside the main cities in Estonia and Latvia. Their economies are going from strength to strength, so even if the UK were to enter a recession my returns on this investment should not be affected (global recession and increased CGT aside.)

Wow,
This forum is great. I never expected to get this level of advice - and for free...A big thank you to all of that have taken the time to write such detailed posts.

I have pretty much decided where I will be investing and in which development. I am sorry to say it won't be in Morocco - only sorry because most of the advice given to me is very pro property investment in Morocco. I am just a bit risk averse for my first big overseas property investment - so I have chosen a more established market. The development is also very close to completion - I have seen the pictures and am planning an inspection trip in mind January.

I will come back and update this thread once my reservation has been paid and gone through. Apologies for being a bit aloof but there are only a couple of units left and I would prefer to have things signed and sealed before discussing.

Thanks again for the great advice.

A

Turkey Most Popular Emerging Property Hot-Spot
Press Releases - 24 Oct 2006
Currencies Direct, the UK’s number one non-bank provider of international payment services and commercial foreign exchange, has today released its first ever Global Emerging Markets Index. The index, based on the number of foreign exchange transfers undertaken by Currencies Direct during October sees Turkey leading the way – with Bulgaria and Dubai not far behind.

The rental income generated by the estimated 25 million tourists that flock to Turkey every year is encouraging investment-savvy Brits decide to ignore recent fears over terrorism and buy property in this rapidly developing market.

Currencies Direct has observed that most of its clients buying in Turkey are looking at the Aegean and Mediterranean coasts. Over the past eighteen months, the number of Britons owning property in Turkey has jumped by more than 200% and the relaxation of restrictive property legislation has also helped to open up the market, with foreigners now being able to obtain a local mortgage.

The below table outlines this month’s top ten Emerging property hot-spots, headed up by Turkey, Bulgaria and Dubai.
Position Country
1 Turkey
2 Bulgaria
3 Dubai
4 Thailand
5 Cape Verde
6 Czech Republic
7 Slovakia
8 Hungary
9 Egypt
10 Poland
Neil Redcliffe, group managing director of Currencies Direct comments, “Turkish property is in great demand and Turkey itself is at the start of a predicted property boom.Turkish property still offers enormous potential for returns on investment too; last year alone, property prices rose by around 50%.”

He continued, “All indications show that investment in Turkey is a wise option today; properties are still unbeatably good value and the tourist industry is growing.
Article taken from,https://www.currenciesdirect.com/news/view.php?Id=96

Have a Happy New Year every body.
From the number 1 country to invest your money in Turkiye (Turkey.)

__________________
www.turkishhomes4sale.com

www.turkeyherald.com

More Brits bought in Morocco than Portugal in 2006 so I cant see how its not on your list.

Most Moroccan properties the stage payments are made in Euros to companies in Spain and France SO THESE LISTINGS ARE HIGHLY MISLEADING.

Investy please look at the post again it started with Press Releases - 24 Oct 2006
And ended with The Article was taken from currencies direct, İts not my list,?

Neil Redcliffe, the group managing director Of Currencies Direct, the UK’s number one non-bank provider of international payment services and commercial foreign exchange,would not miss lead people would he,

Have a Happy New Year every body.

__________________
www.turkishhomes4sale.com

www.turkeyherald.com