how many sold?

[alfonsooo]

hi all,

i have purchased on Med Saidia and i cannot seem to get a straight answer to what i thought would be a relatively easy question:
What percentage of the resort as a whole has been sold?

I know there are many different areas, some not released yet, but of the ones released how are they selling? - this is fundermentally important to the future of the resort and our investment as until all are sold out prices will not rise (unless u've got THE prime property on your particular site)

Anyone know the answer?

[gbdahew]

Hi there- I have just reserved on The Greens this week and am monitoring it myself be printing and comparing the availability list every couple of days.Not ideal but at least it shoews its moving, 4 reserved since Thur and 2 exchanged. I have found it hard to a a straight answer on a lot of things but am trying not to get nervous yet. did u ask the bank guarentee question ?
I got as much flannel as my kids give me when I question them !!

[localhelp]

Hi all,
I do not know the answer to how many have been sold, but I believe that resales may hold the key. I have friends who wish to sell both a V2 villa and a penthouse in AP6. If these are unable to be sold quickly, at a fair price. Then the others in non residential areas will surely struggle. At the moment they are both receiving no interest. comments please.

[alfonsooo]

you've hit to nail on the head localhelp - i dont think med saidia will sell out for years, if at all, thus prices will never rise on any but a few of the best placed properties - my money has been tied up for 18mths and not a penny earned - its turned out to be a terrible investment.

[localhelp]

Alfonsooo,
I have always thought that it was a good investment, and I still do. The problem has always been with timescales. There will, I believe be a profit for my friends in the long term, mainly because they chose residential over touristic. The cloud of mist that hangs over the interpretation of the law concerning touristic properties needs to be cleared and then they too, will (in my opinion ) increase in value.
But in the meantime, there are no buyers for re-sale villas and penthouses in AP6. Why?

[alfonsooo]

Its not that theres no buyers for resales...theres no buyers fullstop! You are right - the delays are fueling the uncertainty, along with Fadesa being utterly useless in every aspect. Couple this with not actually being able to fly there directly (still no word from airlines when they plan to start flying from UK to Oudja airport) and the slowing of the global housing market in general...all this adds up to people not buying im afraid.

[localhelp]

Couple of points. I would assume that most property buyers worldwide, would abandon the uk on a temporary basis, as there is unlikely to be profits there for a while. So therefore may well put their money into emerging markets, like Morocco.
Secondly you are absolutly right about flights from UK. This is a major issue and I hope that if the Barcelo Hotel opens as planned, flights will follow soon after. ( I have mailed Ryanair, Easyjet and British airways about flights, No Replies from any).
My original mail, was a kind of challange to the agents who contribute to this forum. To perhaps give us an update, and answer your original question about how much has been sold. None of them yet has bitten my arm off to get to The V2 villa or the AP6 penthouse. Why?

[alfonsooo]

Because the UK housing market has stopped increasing people are not taking any equity out of their homes to buy properties abroad.... anyway, we are getting away form the subject, the reason agents are not telling us how many properties they've sold is because they havent sold many of course! So the last thing they want are re sales.

[Investy]

Alfonse

Even in the UK there is nearly always a number of properties on most new developments that remain unsold, however these sell once the place is fully built.

It's no surprise to me that stock reamins unsold on Saidia. I'd explain this in terms simple Human psychology.
It is well documented that even scientists faced with a new idea are very slow to accept it, indeed studies show the bulk of older scientists NEVER accept new ideas as thier subconsious is absolutely 'hooked' into the existing ideas, themselves once new and unlikely seeming.

Property is exactly the same, because Human psychology is exactly the same in terms of how people robotic subconscious controls everything they do, although 99.9% of people would not think this applies to them.

Saidia is a very new destination and currently only for the few who can accept a good degree of uncertainty. The logic underpinning thier brain computation is in my opinion robust and for us early dare devils rewards should be attractive.

Unsold stock may well hang around now until the resort starts being used by en - mass by tourists - it is then that the remaining stock will sell I suspect.

I always come back to basics, when I start to feel jittery;

1) Is demand for tourism growing?
Answer = yes and not just from Brits but from Europe, former Soviet nations and the middle East

2) Is supply of beds keeping pace with Morccan tourism growth?
A = no way according to the official stats

3) What will the end user experience?
A = I think he will be hard pushed to find anything like Saidia. If he wants masses of things to do in a self contained quality enviroment with a beach and reportedly the Meds biggest marina

4) Ask yourself this........ Where can you go right now and get winter sun, within 3 hours and have a large beach, 3 golf courses, massive marina, unrivaled sports and leisure facilities, the use of 11 other 5* developments (for LJDG Clubcard holders), 500 quality shops, medina, western supermarkets, bowling, cinemas, amphitheatres etc etc?

I struggle to find anywhere with this breadth and depth.

5) Renting - It seems to me a great effort has been disharged in order to get the resort to attract year round trade and the fact there will be onsite dedicated rental agents and 11 hotels feeding us with future lets, gives me great confidence.


6) The Kings showcase to the world
How many other developments in the Med would have this kind of impetus and motivation behind them?
A = none

[localhelp]

Re-point 4
The beach and the sun have always been there. All the other things do not exist yet, so therefore you can't say now.
Having spent today at the border with Melilla for three hours. I can't agree about the three hours away yet either.
I am a person who thinks the site will be a success, but don't say now because its not helpful.