Property for sale The Greens , Med Coast, Morocco, Morocco
Prices from GBP £83,951
Ref: 54-993-829
2-3 Bedroom(s), 1 Bathroom(s) |
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Prime Saidia, two bed apartments from just 83,951 GBP. All units are fully furnished, inclusive of 14% tax, and with only 15% deposit required.
This is more than just a development, it caters for those in search of relaxation, tranquility and sophistication. The concept derives from Mediterranean living with all the comforts and luxuries of high specification European design.
The development is part of the "Plan Azur", six coastal resorts backed by the King of Morocco and designed for the international investor. Once completed, it is generally accepted that the six Kings Resorts will succeed in generating the several million additional tourists they have been created to attract. It also sits within a property hot spot that has seen price increases at rates of up to 30% per annum and also offers extremely generous tax breaks on property investment in Morocco.
The possibility of maximising rental occupancy in line with the excellent capital growth potential will be enhanced by the onset of the "Open Skies Agreement" signed in 2006 which will allow all major low cost airlines to fly into Morocco.
Potential Capital Appreciation
per annum 20.00%
Conservative estimate from developer
Potential Rental Income
per annum 8.00%
Conservative estimate from developer
Development Timetable
Construction Start: 3rd Quarter 2006 Construction End: 4nd Quarter 2008
Unit type Bedrooms Size M²(from) Size M²(to) Price (from) Price (to)
Apartments 2 68 110 83951.0000 149969.0000
Apartments 3 130 175 153434.0000 217750.0000
Development Description
The Greens is a selection of 183 freehold apartments located in the heart of the second golf course on the Saidia resort. There is a choice of 5 apartment layouts to suit a broad range of budgets and requirements, ranging from two bedroom properties of 82m2 to 235m2 or three bedroom properties of 164m2 to 274m2.
The Greens are freehold properties with no rental restrictions. Pool and golf views are available from the majority of the apartments. They will be fully furnished with branded white goods, plasma TV, granite worktops, mahogany doors and both hot and cold air conditioning throughout.
This resort offers a fantastic location with the beach, sports centre and commercial centre only a short walk away and a swimming pool and pool bar on each site.
The range of leisure activities on offer is extensive, so whether you are looking for uninterrupted relaxation or something a little more energetic, there is certain to be something to suit your tastes. The resort also boasts an 850 berth marina, numerous restaurants, bars and designer shops as well as a hospital, night club and bowling alley. In addition there is 24 hour security and check in on site.
The design of all units is contemporary and stylish and all the apartments boast the following:
Facilities
The Green's exclusive clubhouse
Three championship golf courses
850 berth marina
Spa beauty and fitness centre
Comprehensive sports faclilities
Communal swimming pools
Pool bars & nightclub
24 hour security
6km beach and 17 beach clubs
Convention centre
Waterpark
Hospital
Bowling alley
Commercial Centre
Moroccan Medina
Specifications
Kitchens
State of the art fitted kitchens with a range of brand name applicances
Gas hob and stainless steel extractor
Stainless steel sink with chrome mixer taps
Pelmet lighting to work surfaces
Glazed floor and wall tiles
General Internal Features
Fully furnished throughout in contemporary and luxurious style
Plasma TV entertainment system (further option to fit in bedrooms)
Hot and cold air conditioning throughout
TV aerial socket to living room, kitchen and bedrooms
Skirtings and architraves
Utility Rooms
Plumbing for two appliances
Outside ventilation
150 litre hot water tank
Bathrooms & EnSuites
White sanitary ware with chrome fittings
Thermostatically controlled shower
Heated towel rail
Mixer taps
Shaver sockets
Glazed wall tiles
Windows & Doors
UPVC double glazed windows, french doors and rear doors
Mahogany front doors with brass fittings
Mahogany internal doors with chrome door trims and fittings
External Features
Terrace area
Lighting to terrace areas
Turfing to front lawns
Outside tap
Swimming pools in communal garden areas
Gated community
Location Details
Mediterranea Saidia is around 7,000,000m2 in total and this development is located in the heart of the second golf course with 7km of beach, sports centre and commercial centre only a short walk away
Saidia itself is located on the North Moroccan coast, east of Tangier and Melilla, the Spanish enclave in the North of Africa, and west of the Algerian border. If you were to draw a line directly from Saidia to Spain you would land on the Almeria coast. The "as the crow flies distance" between these two locations is around 180km. Travel is just 3 hours from London and Berlin, 2 hours from Paris and Rome and only an hour from Madrid. It is serviced by 3 international airports nearby including Oujda, Nador and Melilla; Oujda has given rights to Ryanair for when Saidia opens.
By bus
Buses offer lower fares than shared taxis and more regular routes and they are far more comfortable and safer than taxis.
By train
Trains in Morocco are very comfortable and fairly inexpensive. They cover a limited network of routes, but are the best option to travel between the major cities. They are reliable, comfortable, fast, and efficient.
By boat
Several ferry companies offer services to Morocco. The majority are from Spain. Algeciras, a main port in southern Spain, serves Ceuta and Tangier. Tangier also has connections to Britain, France, Italy and the small port of Tarifa, on the southern most tip of mainland Spain. Málaga and Almería, which connect to Melilla and its Moroccan neighbour town of Nador, are other Spanish ports with connections to Morocco.
By plane
The resort is situated only a few kilometres from the Oujda airport and 70km from Nador airport. Both offer international flights. RAM ( Royal Air Maroc ) operates domestic flights from Casablanca to major cities nationwide.In addition, Ryanair, a low cost airline confirmed last year a five year agreement with the Government of Morocco to develop up to 20 new low cost air routes to the majority of regional airports in Morocco from cities throughout Europe and comes under the "Open Skies Agreement" signed in 2006 to allow all major low cost airlines to fly into Morocco.
Local climate
The climate in Mediterrania Saidia is virtually identical to that of Southern Spain. This consists of long dry summers with regular beach days from April to late September and mild winters from October to March.
Rainfall occurs mostly between November and March and, although most is light, some heavy showers fall during this period.
Mortgage Options
The example below is for a loan to value of 70% and is based on the purchase price. This is the maximum the lender will allow the investor to borrow.
Property purchase price of 102,857 GBP (*1,692,000 MAD)
MOROCCAN MORTGAGE Maximum loan to value 70%
Mortgage Amount 72,000 GBP*
Term 20 years
Interest Rate 5.5%
Capital & Interest Repayment 316 GBP per month
Interest Only Repayment not available
*exchange rates vary, to be used only as a guide.
We recommend that you seek advice from an Independent Financial Adviser as the information above is provided only as a general guide to repayments and costs for mortgages in Morocco.
All of the above figures are subject to both status and valuation.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Changes in the exchange rate may increase the sterling equivalent of your debt.
Payment Schedule
* For the purpose of this case study we have selected an average 2 bedroom apartment within The Greens development. The apartment has a build area of 116m2.
The Greens
Purchase Price
Purchase Costs up to Exchange
Reservation Fee
Deposit on Exchange (15%) – minus reservation fee
Investment required to exchange
Sterling GBP
102,857
2,000
13,429
15,429
Phased Payment Plan
15% six months after contract exchange
Total Stage Payments Required
15,429
15,429
Completion Costs
Final Payment (70% of the Purchase Price)
VAT included
Stamp Duty (2.5%)
Notary Fees (0.5%)
Land Registry Fees (1.5-2%)
Legal Fees (approx 1-2%)
Miscellaneous (Dispatch fees, certificates, etc)
Investment Required to Complete
72,000
0
2,571
514
2,057
2,057
700
79,629
Total Investment Required From Investor at Exchange 15,429
Total Investment Required From Investor at Construction 15,429
Total Investment Required From Investor at Completion 79,629
More property photographs
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