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This has been going on for some years now and the apartments were supposed to be ready at the end of last year. Guess what, the work has loans in dallas tx been halted due to the recession. In the same period our other investments in India have doubled. For me, Morocco was an expensive lesson well learnt. Any developer who is selling off plan in the current economic climate is going to be unstable. Even if they are solvent, why finish a development where a low percentage of the flats have been sold? These companies are in this for the profit, and will be prepared to engage in court cases if they turn out cheaper than completing an unsaleable project. Despite all this, Morocco still has excellent potential. But being a property investor is more complicated than signing a contract for an off plan apartment, and then assuming Western standards, ethics and legal recourse.
If you want to do business in Morocco, it is necessary to have a compatriot as one can rely on and have the right contacts. I myself have gone through a lot but now I have the right people around me...
I have been in Morocco in and out for 3 Years and can understand how rife the corruption is in the government departments. Finally I managed to make a mutual agreement for the tenant to vacate. As I understand in Morocco is that if you dont make the right tenancy agreement then you have to pay the tenant all the rent back to vacate from your property by the Moroccan Law. Most people prefer to rent appartments through estate agents. The problem with the people there is that they like to capitalise on every opportunity they can have on a foreign investor.
In morocco there is no regard for easy loans with bad credit society and every one there is for themselves. For example when people board loans in dallas tx the bus in Morocco, everyone tries to push through the que. Why do they do that when everyone will eventually board the bus.
Finally the moroccan dirham currency is loans in dallas tx loans in dallas tx not recognised outside Morocco.
There are control restrictions and taxation to convert the currency for exportation. As an investor do you realise personal loans for bad credit direct lenders that the hospital and medical bills are expensive (I once paid 2000 dirhams in a clinic to have xrays personal loans with bad credit and personal loans oregon no credit check and injection to kill the pain)?
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Do you realise the Moroccan mobile meditel and Maroc telecom is more expensive in tariff than England? Do you realise you have to pay garbage tax on your property? Do you realise you cant buy a car in Morocco until you have a Moroccan residence card? Do you realise that when you go to shop in the souk there are no set prices displayed and that you have to bargain all the time?
Do you realise that to marry a moroccan you need to make a dosier of approx 13 documents of yourself plus your fiancee, and you need to seek approval from the judge for marriage?
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 loans in dallas tx than in Morocco? Got a apartment due for completion in May 2010 in Bella Vista, Cabo Negro. Google Secret Morocco and you will find my website!
Just enquiring how off plan property in Tetouan is panning out.
With the build of a link to connect to Spain, Tetouan was said to be a potential hot bed for investing in Morocco.
With moroccan living, we can install a furniture package within pay day loans direct lenders the month at the lowest price on the market.
If anyone can untangle this one I would be grateful is it is holding up our decision making process until we understand this better. Moroccan government has signed personal loans mn Open Skies agreement with EU to allow European airlines to operate at Moroccan airports without restrictions. Year round sunshine - Hot summers, mild winters, an ideal winter sun destination.
I rather put that money towards buying, in England, Spain, South of Italy, Portugal.
Atleast things dont work around the whim of the King. Ok thanks for the advice it is useful to have an update on the postion in Morocco and how things have worked out over there In comparaison with other Northern African Countries (like Egypt),Morocco has a well regulated buying process and has several tax advantages such as no income taxes for the first three years from completion if you are purchasing off-plan.
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I have been reading the different posts describing an investment in Morrocco as an easy loans in dallas tx and fast way to make good money whilest I still think Morocco offers great loans in dallas tx opportunities for investment I think people will have to be prepared to follow a pathway that is not as easy as it is frequently described in the forum. The open skyes policy has really been implemented and over the years there has been an increase in number of direct,low cost flights from Europe. I normally get a return flight for around 80 euros. Off course anyone could decide to invest in other European countries I doubt it would be cheaper and someties you would fall into the same problems I have encountered in Morocco. I come from the south of Italy and we have seen a lot of British people coming to buy a traditional house in the countryside or in the historical centers of very characteristic small southern Italian villages. At the begining it used to be cheap, especially for those properties in need of restauration but it lasted not even a year until Italians realized that they could make good money out of it. To my experience, when it comes to corruption the only difference between Italy and Morocco is simply that bribery in Morocco is cheaper).
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