Talk Morocco Moroccan Property Forum http://www.bluefishpropertyservices.co.uk/forum/ This is an XML content feed of; Talk Morocco Moroccan Property Forum : Last 10 Posts Fri, 21 Nov 2008 13:41:39 +0000 Thu, 20 Nov 2008 19:40:01 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz Forums 8.03 30 www.bluefishpropertyservices.co.uk/forum//RSS_topic_feed.asp Talk Morocco Moroccan Property Forum http://www.bluefishpropertyservices.co.uk/forum//forum_images/A3.jpg http://www.bluefishpropertyservices.co.uk/forum/ Tanjah Beach & Golf : Tanjah Latest http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3436#3436 Author: esmerelda
Subject: Tanjah Latest
Posted: 20Nov2008 at 7:40pm

MMm sounds like the quoted purchase price currency was euro to me. The inclusion of £ exchange rate would be to assist your evaluation only at that time based on that price.]]> Thu, 20 Nov 2008 19:40:01 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3436#3436 Tanjah Beach & Golf : Tanjah Latest http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3435#3435 Author: DANISH
Subject: Tanjah Latest
Posted: 20Nov2008 at 7:05pm

Dear Forum,
I get slightly confused when I read all these figures and currencies being 'takled' about. Do we all have different types of reservation forms?
My reservation form for a 3 bed penthouse (dated 17th July 2006) states that the purchase price is euros 179,908, deposit euros 43,752. Below that is states in small letters 'based upon an exchange rate of euros 1.40 to the GBP Sterling'. (no mention of Dirham!) Now that would equal GBP 128,505. Now if the exchange rate is so important to mention would that not indicate that it is the GBP price that is the 'base price' i.e. the price that determine the final price regardless of which currency is used for the purchase? Assuming that, the cost would now be roughly euros 154,000, i.e. cheaper (albeit only in euro terms).  Your comments are invited please.
Viking
]]> Thu, 20 Nov 2008 19:05:21 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3435#3435 Tanjah Beach & Golf : Tanjah Latest http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3434#3434 Author: esmerelda
Subject: Tanjah Latest
Posted: 20Nov2008 at 6:55pm

dirhams are a "soft" currency. If you ask a currency exchange dealer or your bank to arrange tranfer to a moroccan account they will advise you that there will be a double exchange required. What you are charged will of course vary dependent on the dealer.
Pop into your bank & ask them or call one of the exchange dealers if you want to check this out.
Dirhams are broadly pegged to the euro. As such the euro is accepted as currency in morocco but the street exchange is 10dh to the euro (no matter if the bank says it's 11 dh to the euro).
I don;t know if this helps .....but all the time we were looking at houses to buy, they vendors/ estate agents moved between dirhams & euros interchangeably at the 1dh to 1 euro rate. That's one of the reasons why we had to clarify the currency we were actually dealing in.
]]> Thu, 20 Nov 2008 18:55:35 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3434#3434 Tanjah Beach & Golf : Tanjah Latest http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3433#3433 Author: Stephen01
Subject: Tanjah Latest
Posted: 20Nov2008 at 6:50pm

I'm at the point where I'm wondering if this project will even properly start. I know they have stared the ground works but that means nothing. Unless they have already had contracts returned signed then I fear the worst.

I heard some people have returned contracts but not those with BCP.

I am at an all time low with this project and quite frankly board with with whole things now.
Same thing every day checking e-mails and looking at forums to see if anything has started to move but every day the same nothing and probably be lucky to get my deposit back by next summer if at all.

I think all the sub agents should have been pushing Dream world a lot more than they have been.
My agent has been a big disappointment who claims to never know anything.
]]> Thu, 20 Nov 2008 18:50:35 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3433#3433 Tanjah Beach & Golf : Tanjah Latest http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3432#3432 Author: dinos
Subject: Tanjah Latest
Posted: 20Nov2008 at 6:10pm

Originally posted by esmerelda

Also you can;t just translate £ to Dirham - when you are transferring cash into a moroccan bank account it converts to euros first.
 
Wouldn't you then get hit with money changing fees twice, why cant you just change £'s to Dirhams that sounds odd to me.
]]> Thu, 20 Nov 2008 18:10:00 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3432#3432 Tanjah Beach & Golf : Tanjah Latest http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3431#3431 Author: esmerelda
Subject: Tanjah Latest
Posted: 20Nov2008 at 4:31pm

Hi Guys, doesn't this all depend on what the contractual terms are?
You can buy a property in £, euro or dirham in Morocco. We agreed the price for our first house in euros but the others were in £...(luckily for us or it would have cost another £15,000 due to the slide of the £ against the euro last year!!)
Also you can;t just translate £ to Dirham - when you are transferring cash into a moroccan bank account it converts to euros first.
I can see a situation where a european developer marketing to both Uk & Spain would quote both Euro & £ but it should be made clear what the transactional currency will be from the outset so I'd check your paper work.
]]> Thu, 20 Nov 2008 16:31:14 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3431#3431 Tanjah Beach & Golf : Tanjah Latest http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3430#3430 Author: dinos
Subject: Tanjah Latest
Posted: 20Nov2008 at 3:58pm

Originally posted by jimbo

Does anyone know how many Dirhams we will actually be paying. Have not seen it in black and white yet.
 
Hi Jim,
 
What I cant understand is that I was given the price in Euros and an indicative price at the time of how much it would cost in £, I was never given a price in Dirhams.
 
So my question is what is the price calculated from : £ to Dirhams or Euro to Dirhams because I havent got a clue what my final price will be
 
Over to Mark, could you throw some light on this one.
 
Dinos
]]> Thu, 20 Nov 2008 15:58:47 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3430#3430 Tanjah Beach & Golf : Tanjah Latest http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3429#3429 Author: jimbo
Subject: Tanjah Latest
Posted: 20Nov2008 at 2:29pm

Does anyone know how many Dirhams we will actually be paying. Have not seen it in black and white yet. ]]> Thu, 20 Nov 2008 14:29:55 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3429#3429 Tanjah Beach & Golf : Tanjah Latest http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3428#3428 Author: TanjahTom
Subject: Tanjah Latest
Posted: 20Nov2008 at 1:10pm

with the pound sinking and thus increasing the price and the price of property falling, I don't see this as an antractive investment any more.
 
As this is my sole purpose for buying it, I am more than likely to pull out unless there is a reduction to the price.
]]> Thu, 20 Nov 2008 13:10:23 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=270&PID=3428#3428 Moroccan Property Related Topics : Middle East positive about investment in Morocco http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=308&PID=3427#3427 Author: BlueFish
Subject: Middle East positive about investment in Morocco
Posted: 20Nov2008 at 10:21am

http://www.propertywire.com/news/africa/middle-east-developers-investment-morocco-200811192101.html
 
 

Middle East developers positive about investment in Morocco

Wednesday, 19 November 2008

Middle East developers regard North Africa, and Morocco in particular, as one of the best places in the current climate to invest in.

Four real estate projects are now underway in Morocco amid indications that the country's economy is well placed to weather the global economic downturn.

Construction on the Kuwaiti Gulf Holding Company's $1.3 billion Villa Royale project In Tangiers began this week and Dubai's Emaar Properties, Sama Dubai and Qatar's Diyar are all forging ahead with their developments in Morocco.

The great potential and strong prospects of the Moroccan economy encouraged the GHC to go ahead with its plan to start the project despite the financial crisis that is crippling some of the globe's strongest economies, a spokesman said.

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'All the world is witnessing a painful bleeding. However, there are countries like Morocco that are not affected by the crisis,' said Ahmad Al Ameer, vice-chairman and CEO of GHC.

A spokesman for the Ministry of Finance said the world seemed to have overlooked the positive outlook in Morocco. 'Our economic indicators are positive. We expect a positive 6% growth in 2008,' he said.

Developers are also encouraged by the Moroccan government's Vision 2010 which aims to attract 10 million tourists by 2010, and to the strong indicators of the banks and financial institutions in the northern African country, as well as its desire to open up the door for foreign investments and opportunities.

]]> Thu, 20 Nov 2008 10:21:01 +0000 http://www.bluefishpropertyservices.co.uk/forum//forum_posts.asp?TID=308&PID=3427#3427