Tanjah, tinja and Houara

moroccomania

Ok, just some food for thought.

Tanjah: pre-launch prices (before planning and price increase) - Euros 1,100 per sq.m.

Tinja: investor launch prices (heard through the grapevine) - Euros 1,000 per sq.m. - But on retal, presumed to be around Euros 1,500 per sq.m.

Houara: Phase 1 prices - Euros 2,070 per sq.m.

Agreed that Houara is 5 STAR and luxury with furniture, etc., but that is more the aesthetics. What about the investment side of things - someone buying into tanjah has got the potential to sell on at say E1,500 per sq.m. and make a decent profit. The next investor buying will also have some growth to follow through.

Same with Tinja, and with the Emaar name, the profits are sure to follow anyway. However, buying into Houara at over E2,000 per sq.m., what kind of exit are we talking about and who will be the resale market. A typical 2 bed unit in houara is around E340,000 - I can't imagine what sort of resale prices we'd be looking at.

Ofcourse, if you're talking rental, that's different. But I'm just comparing capital growth and saleability.

Comments anyone?

nisrine.z

I think you do not have full knowledge of al Houara prices. The bottom price for a typical 2 bed unit was 170.500 Euros in the first phase and not 340.000 euros which is double. and even in the second phase the price of 2 bed unit is still less than what you mentioned previously. I do not know from where you get those prices?

camel

Chalk & Cheese.

Stephen01

Prices below.


Cheapest 1 bed
UK Estate agents with homes, houses & property for sale on rightmove.co.uk



Cheapest 2 bed
UK Estate agents with homes, houses & property for sale on rightmove.co.uk

Cheapest 3 bed
UK Estate agents with homes, houses & property for sale on rightmove.co.uk


Cheapest 3 bed penthouse
UK Estate agents with homes, houses & property for sale on rightmove.co.uk


Cheapest villa
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Most expensive
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camel

These prices are perhaps historic and just a come on.

nisrine.z

Well, what matters is that everyday more and more people buy and they accept the price. If people did not buy, they would not be a second phase and other phases.

moroccomania

Quite possibly the prices are historic....I was basing my E340k on what a friend of mine found out from the property exhibition in london this weekend. Perhaps that was one of the few remaining units??

Anyhow, the purchase price is not really the topic here....its the price per sqm.

Firstly, camel, would you care to elaborate on the chalk and cheese comment.......I do understand they are very different projects, but you have to look at it from an investors eye, not an owners eye.

nisrine, to a certain extent, you are right about what people pay is the price for the property. But, there also has to be a "fair" price. Comparatively, houara is expensive and there is no denying it from an investment standpoint. From an ownership standpoint, everything boils down to personal preference, so cannot comment.

moroccomania

by the way, anyone want to comment on the resalability angle of this project? do you think you will find a buyer instantly for your property on this project on the resale market as opposed to say tinja???

nisrine.z

Again, we have to bear in my mind that Al Houara is a 5 stars resort which targets rich people and investors who are interested to generate a good rental income or to resell it after some years. Thank God, there is Tinja and other developments to staisfy all needs.

Only people who are interested in luxury and exclusivity who buy and who will buy from Al Houara and those people will not care much about the price because they know that their neighbours will be of the same level as them. The fact that there are some palaces available for sale at Al Houara can give an idea about the high level of the resort.

ezrnow

The prices you mentioned on Rightmove are definitely just a come on… A phone call to Insight Morocco confirmed that the majority of phase 1 apartments and villas were already sold and that there with only a few remaining.. My guess is that with the developer being middle eastern, most of the origional units have been purchased by wealthy locals from the UAE. Now whether that’s true or not, it really doesn’t matter, but having bought and sold property in Dubai, I know that agents play a big role in setting the pace for sales and it’s certain the Sotheby’s are employing a number of marketing gimmicks to ramp up the interest.

Having said that, I have seen the overall site plan and really do like it – compared to Tanjah and Tinja, the developments is far less dense in build quantity and there is far more emphasis given to landscaping and overall finish of the apartments - which look the best out of the lot. I can’t comment on the prices, as I do not know anything about the prices of the Tinja units and have really struggled to find accurate info on this development, but 2,070 Euros per sq.m. for the Tangiers coast does seem a little on the high side!

For someone who has got the money and wants the luxury, Tinja seems a good bet, but I don’t think they’ll make a lot of money by reselling quickly. In the long run it could prove dividends and my feeling is that it will produce some of the best returns out of the 3 projects – although Emaar already has a cult following and their products always have a good resale value, but again not too sure on their prices!