Buying land in marrakech

investingary

Ok, i'm sure i'm not the norm, but has anyone ever considered buying land in marrakech and building their own villa? surely its gotta work out cheaper than buying one off-plan or ready?

although, im not sure of the complications that can arise building in a foreign country.

thoughts people???

moroccobound

Buying land and the building our own villa is cheaper than buying a villa off-plan but you will need to be a very strong willed. It is not for everyone. Easy it isn't. Bureaucracy, back-handers, brides, and we are only at the "b"s

investingary

hmmm.....but in terms of investment, its gotta work out better. i understand what you're saying about the legalities, etc. and yes, that does concern me a little. but how easy/difficult is it to find reliable project managers to handle the work for you??

or do such breeds not exist in morocco?!

octanorm

I buy 1 land in Marrakech last year and built a villa who will be finished in november 2007.
I buy in july this year a other land and have for your also opportunities in the next months ...I'm very well introduced in Marrakech and can present you the right peoples ....architects , builders

investingary

Hey octanorm,

Can you tell me firstly, do you reside in marrakech? i.e. do you live there or have you done this as an investment project?

Also, what was your involvement in the project and did you come across any problems / pitfalls? Sorry for so many questions, but it would help to know how complicated/easy the process is and what I should watch out for.

Thanks for your help in advance!!

octanorm

Hello Investingary
I don' reside in Marrakech but in Belgium , this is an investment project and not a second home. I handle this with an architect buro in Marrakech who follow everything . Since they started to built in november 2006 , I go in Marrakech 2 times and the villa will be finished in november 2007 with no problems . When the villa will be finished I can sell in at double of the price or I can rent in for 1000-€ a day did will give me a 20% netto return a year

investingary

If you don't mind me asking, octanorm, what kind of price did you pay for the land, and how much did the constuction cost..? When you say you only went to marrakech twice during the build process, is it because everything was handled by the construction company and did you not face any problems.....seems a little odd because with build projects, even if you are on site there are problems....and you not being there and having no issues seems a little strange and too good to be true.

octanorm

sorry but I don't given price on a public forum . Eveything is handle by the architects , they have meeting every week with the construction company . But the architects are Belgium architects who have their compagny in Marrakech and the constuction company is managed by a French who is very serieus ....I'm in contact with the architects by mail and received all details of the villa by mail

investingary

would you be able to pm me the price and some contact details please?

moroccobound

Investingary

Before you put yourself in the firing line, I would go to marrakech and look at several estate agents first hand. It does not much matter what someone paid for land, as price depends on time of year you buy, supply and demand, location, size, etc. One plot can be much more expensive than the one next to it because of various factors so research, research and more research.

At the end of the day, buying land and building your own home is far cheaper than buying one already built. There are many, many hurdles to cross, if you are willing to do so, then great, but if not, then buy a home already built. Nothing runs smoothly when building your own home, no matter where you are, this is especially true in Morocco,