Originally Posted by manor park

Hi SS

I have not looked too hard as I purchased in Portugal instead, now that is sorted I am going to Marrakech on March 19th and may have a look at whats available then, it will cetainly give me a chance to get a feel for the place.

Contracts still not out on Tanjah yet, so once that is resolved I will know where i stand, good to hear you got yours sorted though.

MP

Originally Posted by investor27

For those people reading this post im assuming you've already purchased in Morocco or are currently carrying out research on the country / developments on offer hence looking at the Morocco Section, I hope this section provides you with all the information you are seeking.

To start with, for those looking into buying in Morocco i'll mention why I currently believe Morocco is such a good country to invest in.

1. Huge investment in Tourism, objective of the "Plan Azue" is to increase visitors to 10 million by the year 2010 & to provide concomitant infrastructure & facilities.
2. Moroccan government has signed "Open Skies" agreement with EU to allow European airlines to operate at Moroccan airports without restrictions.
3. The "Open Skies" agreement has seen the arrival of low cost airlines such as Easyjet, Thomsonfly & Ryanair announcing new routes, more to be added in 2007.
4. Favourable tax laws for foreign investors - no property tax for 5 years & how capital gains tax.
5. Mortgages are available with 60 - 70% the standard amount borrowed.
6. Close to the Costa del Sol - 30 minutes by hydrofoil to Tangiers from Tarifa & Algeciras 7. Year round sunshine - Hot summers, mild winters, an ideal winter sun destination.

There are several resorts being introduced in Morocco, developers from Dubai are also investing Millions, Qatar recently launched Al Houara, Emaar will be launching Tinja, currently most of the focus seems to be on the "Plan Azure" Resorts - Mediterrania Saïdia Resort, this resort is on the first on the "Plan Azure" & has the Kings backing. In brief the resort will have; 9 major hotels, 3 golf courses, 840 berth marina, huge commercial centre, water park, sporting facilities.

I am also happy to advise / assist on developments and have extensive knowledge on most developments, especially those in nothern Morocco.

Feel free to ask questions or if you wish post me a pm

Regards

Originally Posted by camel with three humps

Nick, You are pushing your luck. They have just entered the mortgage market and frankly do not know what they are doing.

I am trying to borrow 50% of the value/current purchase price. Not only that I will pay VAT on the interest rates until the mortgage is paid off. The paper chase is plainly absurd. Every second day I have been asked to provide the same information in one form or another. e.g, marital status, no of children, passport number, Letter from DHSS, to confirm that they are aware of my existence, the latest is to obtain a sworn letter to confirm that I do not have another property in Morocco and I do not have another mortgage there.

For what you are planning to do, i.e.equity release. Morocco is not the Country.