EX-Pats and Owners Abroad

Discussions for EX-Pats and owners abroad or those who are considering this idea.
Reply
I think you are very unwise to part with your money for what seems to be a pipe dream.

Do you speak Arabic? Are you used to living in a muslim country? Can you cope with very hot weather? Are your personal and political and religious views likely to bring you into conflict with the laws of the country and the way that it is governed? Morocco is not a democracy, and laws are not necessarily decided democratically and with the views of the people taken into account. Morocco is NOT in the EC and so the various laws designed for your protection will not apply.

You may never see anything for your money or even see your money again. Do you accept the risk?

If you decide to go ahead, and all goes well, I shall be the first to eat humble pie, but I would tread VERY carefully indeed. Good luck.
Reply
Wow - now that is a 'glass is half empty' view!!!
I dont speak arabic - i dont speak spanish either but went their on holiday last year. I dont plan to live in Morocco - just rent it out as a holiday home.
Also Morocco has a democratically elected parliament with 22 women MP's - its not some dictatorship exstremist muslim country you know!
The king does have overall power but was educated in the west and has signed trade agreements with USA and Europe.
The king has personally purchased 12 villas in the resort for friends and family so im sure he wants to see it succeed!
Reply
Hi,you did ask for views and you cannot pick only rose tinted ones.I would guess the King of Morocco is a native and you are not,your money will not be safe,unlike his,unless maybe you could get a bank guarantee?
Best of luck,John.
Reply
Who told you the king has bought properties...the estate agent? Renting...how many people do you know who goes self-catering in Morocco? Its one of those places where most people who go say never again. Palmera properties are advertising heavily for Morocco or whatever they call themselves now.
Reply
it does have bank guarantees in place but you cant all be wrong - there are 1000's of brits who have invested in these new resorts though........... i am going to pull out. But where to invest? eastern europe is dodgy too. All established countries the property costs as much as in UK so no point???
Reply
I know this is a month on since the last post but Agtisch why are you pulling out?

You have had three people comment negative and thats it!! You quit.

Cover all questions in your mind and continue. I know Morocco is scary to start investing but it is a good bet in my opinion.

In any investment you have to look at the positives and negatives and make sure that the plus percentage of winning is hin your favour.

I always state to overseas investors, don't buy if you are looking to sell within one or two years and make a big profit. Its possible and could happen and even should happen, but no guarantees. If you invest with a view to renting as you say you are doing, then it is a good investment.

The world is changing very quickly and new areas are opening up so be positive and strong.
Reply
Areas that are "openingup" aren't new they have been in the holiday brochures for years. Its only the developers and sales agents who are saying they are the next best thing. morocco is not the place that your average Brit will rent an apartment, many find one day there is enough. Turkey..they have just banned Winnie the Pooh because there a pig in it. Dubai, all the new complexes are ghost towns as everyone bought to rent or sell on. Now they are pushing Cape Verde. the only thing most of them have in common are that the property prices are/were cheap but you have to ask yourself why are they cheap?

If you want property purely for an investment you can't go wrong with the UK. Buy up a few ex-council houses in a run down area and then contract them out to the local council and they pay very good rents as they need places for asylum seekers, problem families etc. doesn't matter if they do damage as the council guarantees to put it right.
Reply
Holiday Truths Forum

Post a Reply

Please sign in or register an account to reply to this post.

Sign in / Register

Holiday Truths Forum Ship image

Get the best deals!

from our cruise, ski and holiday partners

You can change your email preferences at any time.

Yes, I want to save money by receiving personalised travel emails with awesome deals from Holiday Truths group companies which are hotholidays.co.uk,getrcuising.co.uk and getskiing.co.uk. By subscribing I agree to the Privacy Policy

No, thank you.