Saidia Advice

[thirl1804]

It may be a futile search but I'm seeking a 2 bed apartment somewhere in the Saidia development but hoping to pay no more than £80k. Can anyone suggest any new developments or agents who may be able to assist?

I may have to let the dream of Saidia go but am still set on Morocco, what's my next best bet. I like the Tangiers area for the short flight time as I have youngens.You read so much about Saidia and it is looks outstanding but I fear it's just out of reach. I'm determined to stick to my budget which all property investments manuals advise.

My hope is to find a 2 bed apartment which my family can use annually and rent out the rest of the year so it is a long term investment.

Thanks in advance.

[Popcorn]

The Greens by Azur Developments have 2 bedroom apartments at £79,950 and these come fully furnished. Plus there is also the Fadesa apartments. both Saffron Villas and Property Showrooms handle the Greens. Almost all the agents handling Moroccan properties handle the Fadesa apartments, or you could contact Fadesa direct.

[The Soup Dragon]

Other option is to see if agents have any resale Fadesa apartments. There were some doing the rounds a couple of months ago for AP4 and AP6. While 2 beds were listed at over £80k I imagine you could pick one of them up for that - I think it was one individual that owned all of these resale apartments as they were with Superior for months then most appeared on another agents books. The owner probably can't afford to complete on them all - meaning you should be able to pick them up fo quite a bit less than the owner wants.

[sandals]

I would keep an open mind about buying on the Med coast or the Atlantic coast they both are good. prices have gone up quite a bit in Saidia so you might be a bit late buying there. With the areas around Tangier you can get in at the beginning and get better growth.

For example Moroccan agents based in London Property Borders are selling the Tanjah Golf & Beach Resort it offers 10% rental guarantees for the first 5 years
and the best thing you only need a 12% deposit for a 5 star resort.

Property Borders currently have over 18 developments for sale all over Morocco. Good luck with you search.

[thirl1804]

Thanks for the information.

Can you explain why I've sweated about how I'd get the 40% deposit together for most other resorts but if I went with Property Borders I'd only need to find 25% plus a long term rental guarentee included? Sounds great to hesitant first time investor.

Basically as a first time investor I'm initially concerned about finding the deposit and then worried about covering the mortgage payments. Both of these concerns are alleviated with this offer. Obviously much more to consider than just these two issues but its helped to show there are alternative arrangements about.

Thanks again

[The Soup Dragon]

Thirl1804. I assume you are thinking about Tanja with those details. The deal used to be better. There was no 12% up front and I think you paid less before completion. You'll have read about the farce of a meeting they had - where they invited British investors that had reserved over. I think most of those that went pulled out shortly after. They were not impressed. If you look through old threads here or on C4 / HPC forums you'll find out a lot more.