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So as soon as I have his name, will forward to you. Did you receive an invitation to their meeting of 13th June 2009? This is to elect members of syndicate and discuss annual service charges etc... I have been told so far that a re-mortgage is not possible at the moment in Morocco, is this fact. Also you can not loan money from a Moroccan Bank and send the funds outside Morocco. If i was you, i think it would be best to hold on to your money. I dont think that i would buy offplan at this time as a number of off plan in tangier have come to a holt. Buyers please be patient or keep hold of your savings until the slump is over.
Initially, yes, very silly - for a mostly unproven tourist destination, at prices that only Europeans can afford and lets face it in a country that doesnt even have the infrastructure for tourism yet. Secondly, this is the entry price, prices in other emerging markets have risen to these levels gradually after several years, alongside the local populations wealth. But, then on more thought, why shouldnt supposedly quite luxurious and well planned tourist accomodation in (almost! Its the low interest personal loans effect of globalisation, a 2 bed appartment on the beach catering for European tourists costs pretty much the same everywhere. Bring into account the uber-rich Arabs and then even Saidia and Al Houara at up 3 times this price could be realistic. On balance though, I do think as these are mostly tourist developments (not residential) and there are few tourists at present, paying such an inflated prices and hoping for anything other than a longterm profit is a bit ambitious. Yes I understand there are silly prices in Morocco and the country does not really have the tourist, transport, communication and the national health infrastructure. As I understand you can find a decent appartment in Gueliz, Marrakech for 11,000 to 12,000 dirhams a square metre. On average an appartment is approx 80 square metres. Well, you can still get things done but you will wait forever - and they know damn well you are pushed for time so sit around with your dossier on the desk and do nothing. This is a fact - and it is high time prospective purchasers were given all of the relevant information before making the decision to purchase. Our sale completed in March 2008 and we are still waiting to get paid in full!
In my opinion Morocco is NOT a place for UK buyers to invest in property.
They are too used to everything being done in the UK on the straight and narrow, when involved in matters of property transactions. They see a foreigner over there and the only thing on their mind is rich pickings.
In fact - low interest personal loans after 30 years of spending a fair bit of time over there I realy do think things are getting worse - not better - as a few years ago the bribes they were asking for were a pittance, but now they have got really greedy. I personally know a Moroccan lady who is still trying to get a tenant out of her apartment after THREE years of unpaid rent. She is Moroccan (the owner) It is a minefield and you just cannot trust anyone to handle your letting for you while you are abroad.
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Do you realise that you cant deposit dirham into your bank account until you have a moroccan residence card? Do you realise that for any minor fault the moroccan police will ask you for bribes? Do you realise that you can go to jail for giving a bank cheque from an account with insufficient funds? Do you realise that Morocco has big problems with prostitution, peadophilia and child labour?
Do you realise that the minimum wage in Morocco if you happen to be bankrupt and work is approx 1550 dirhams?
Do you realise that in August the temperatures are extreme of approx 45 degrees? Do you realise that electric bills are more expensive in touristic areas than local areas? Do you realise that even to use a public toilet you need to tip the waiter? Do you realise that speaking a foreign language will get you in trouble to buy your produce from the souks as they will inflate the prices? Do you realise that shopping for clothes or food is more expensive on average in Morocco than in England? Do you realise alot of Moroccan migrants make there lives more economical to live in Spain, France, Netherlands, Belgium and etc than in Morocco? I think you just pointed out some negative sides of Morocco, which a lot of them are not true.
If you would need medical help in Spain, unless you have insurance, you would pay a hefty price for any help. Did you forget British Gas ripping you off every winter for keeping you warm? Did you forget robberies, gun crime, knife attacks in broad daylight??? Did you forget that cost of living in London is one of the highest in the world?? Did you forget how many repossesions of homes left families homeless?? Did you forget about goverment actually warning people about shortages of money for pensions and planning to extend retirement age to 67?? And I think most of all you forgot that Morocco is developing North African country. At least in Morocco foreigners are respected and not discriminated against. Yes there are some problems within society - selfishness, greed and materialism, but also there is kindness, hospitality and willingness to change. I think you just pointed out some negative sides of Morocco, which a lot of them are not true. Weather in Morocco varies greatly- from 40 degrees in August in Marrakech to 20 degrees in August in Ifrane or Essaouira. If you have a property to rent - the obvious choice is to do it through a respectable agency, renewing contract yearly. As for medical expences, they are no different, than say in Spain. If you would need medical help in Spain, unless you have insurance, you would pay a hefty price for any help. Did you forget British Gas ripping you off every winter for keeping you warm?
Did you forget robberies, gun crime, knife attacks in broad daylight??? Did you forget that cost of living in London is one of the highest in the world?? Did you forget how many repossesions of homes left families homeless?? Did you forget about goverment actually warning people about shortages of money for pensions low interest personal loans and planning to extend retirement age to 67?? And I think most of all you forgot that Morocco is developing North African country. At least in Morocco foreigners are respected and not discriminated against. Yes there are some problems within society - selfishness, greed and materialism, but also there is kindness, hospitality and willingness to change. I think Morocco is loosing its authencity or culture to foreign investment. It is a country known for kindness, hospitality and willingness to change.
I am looking at your comparisons and please keep it between Morocco to england or Morocco to spain. Ok as you are aware your medical bills are paid by the National Insurance contributions to the National health service hence you get a very good medical treatment in the event of accident, sickness, or health problems.
We certainly get our value for money at the National low interest personal loans health service and the hospitality is just Excellent!
The crimes in Morocco involve first american loans Drugs, robberies, deception which is alot more common, and etc. However there is alot of safety for foreigners in marrakech, Agadir, Essouria and all touristic places. The Surrette Nationale and especially the Gaundermere are very feared off by the locals.
Infact the safety I have felt in Marrakech walking near Sofitel, Avenue Mohammed 5, Avenue Mohammed 6 is the best I must say.
There are guards everywhere monitoring the safety of tourism. Yes Fruit and vegetables and sugar will be cheap in Morocco. But low interest personal loans quick cash loans bad credit other processed food, toilleteries, utensils, consumer electrics will be expensive from major stores as Marjane or Acima. The official statistics of repossesions in Morocco are not really talked off and neither produced by the Ministry of Finance ( I just dont understand why? But I understand they have had repossesions because foreigners are unable to pay the mortgages for the buy to let properties. Indeed UK there have been alot of repossesions because credit was too cheap however there has been a softer attitude from the UK banks to deal with unpaid mortgage payments. The chancellor of england deliberately cut no telecheck payday loan lenders the insterest rates to 0. Hence this attracts savers to spend money and invest in shares or stocks and help tackle the credit crunch. I think that finance in UK, consumer protection and the official statistic are alot more transparent and straight forward than developing countries. Although we have no or little manufacturing industry in UK but we have two main sources of revenue and they are the London Stock Exchange and the North Sea Oil.
The North Sea Oil money contributes towards the social securty benefits ( and also taxes). However if you look at Morocco, Morocco has tourism, phosphate, and fisheries for exportation. Why is the revenue from its phosphate industry not used on social projects or to tackle poverty? Well there is some discrimination but it is hidden in Morocco.
I am sure if you show your pocket in UK everywhere then virtually you will see no discrimination!!! In my conclusion Morocco is a developing country and has to keep a balance between tourism and its culture. Morocco has its unique taste and that is the authentic culture, its food, ceremonies and language! I like that because I find that entertaining and not the clubs, the casinos, the mcdonalds, the KFC and the western clothing.
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