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Asilah - Popular location at a great priceParadise Golf and Beach Resort - Government Backed
SeaSide Asilah is an exclusive residential complex
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The Paradise Beach & Golf Resort is going to be one of the most important touristic developments in Northern Morocco. PRICE INCLUDES FURNITURE AND VAT. There will be 500 low-rise apartments all with individual swimming pools. An 18 hole Golf Course will be incorporated within the development.The apartments & villas will be constructed on gently sloping land - thus giving most properties at Paradise Beach & Golf Resort views to the sea.
* Distance to Airport: 15 minutes
* Distance to Golf: On site
* Distance to Beach: Front line
* Distance to Services: 5 minutes
* Completion Date: 2009
* FURNITURE INCLUDED IN PRICE
* VAT INCLUDED IN PRICE
* 15 Swimming pools
* Beach bars
* Landscaped tropical gardens
* Commercial centre & shops
* Luxury hotel with all facilities
* Rental and Management office. Maid & chauffeur service available
* State of the art gymnasium & fitness centre
* Free coach service to and from Asilah town & Tangiers
* Gated community with 24 hour security
* Selection of international bars / cafes.
* Water Sports Centre
Purchasers at the PARADISE BEACH & GOLF RESORT with its golf and ocean view location and diversity of on-site leisure facilities plus its proximity to Tangiers, the Airport and a charming Moroccan fishing village will benefit considerably in terms of escalating property prices as the tourist boom filters through the economy.
A Mediterranean type climate and lifestyle, less than 3 hours flying time and with property prices a fraction of those in nearby Spain (just 9 miles away) - it’s difficult to see how those with investment in mind can go wrong here!!
Those looking for rental income won’t be disappointed. High season rates in Northern Morocco often reach £100 per night. The PARADISE BEACH & GOLF RESORT will have an on-site rental and management office which will offer a complete range of services.
Only 5 minutes from the Paradise Beach and Golf Resort is the Club Tanger de Tiro - a world class country club whose facilities are open to non-members. There are 3 restaurants serving both international and Moroccan cuisine plus a café bar.
On a 50 acre site the Country Club has a tennis centre, mini-football pitch and kiddies play area. Also available is clay pigeon shooting and soon to be 18 hole Golf Course.
The Moroccan government is keen to encourage foreign property owners and offer the following incentives to purchasers.
* No rental tax for the 1st 5 years of ownership.
* No capital gains tax if the profit is below £40,000 (20% thereafter).
* After 10 years ownership capital gains tax is nil.
* No inheritance tax if property passes to a family member.
* Full repatriation of funds if a property is sold.
The site is in an area of great natural beauty and borders the Foret Diplomatique. A stroll around the Golf Course accesses a virgin beach of golden sands.
Just 15 minutes drive from Tangiers and the airport in one direction and 15 minutes or so in the opposite direction to the pretty fishing village of Asilah.
Morocco is a kingdom and his Highness King Mohamed VI has indicated that one of the principal economic sectors he wishes to promote in Morocco is tourism. His aim is to have 10 million tourists annually visit Morocco by 2010. This ambitious project which includes hotel and road construction, improvement of infrastructure etc. will inevitably have a significant effect on property prices in prime tourist areas.
HOW TO GET THERE
One can arrive at Tangiers airport by direct flight from one of a number of airports or alternatively (and considerably cheaper) fly into Malaga or Gibraltar and take the inexpensive ferry (around £40 return) from Algeciras or Tarifa to Tangiers. A brand new motorway accesses Asilah from Tangiers in around 30 minutes - or take the longer and more scenic coastal route. Midway between Tangiers and Asilah is the site for the PARADISE BEACH and GOLF RESORT. There are plenty of taxis to make the trip from Tangiers - or hire a car. There is also a bus and train service if required. The likes of Easyjet, Ryanair & Monarch are expected to charge little more than for flights to Malaga.
ASILAH
Asilah is an elegant coastal town with a rich history and a population of around 20,000. First impressions are of the wonderful ramparts and turrets built by the Portuguese in the 1500’s. There are wide avenues and a pretty palm-lined seafront boulevard, here can be found some of the towns best restaurants - many operated by Spanish owners. Casa Garcia, Casa Pepe and Al Kasabah are among the better known, all serve superb fish and shellfish dishes at a fraction of prices at home. There are plenty of little cafes to choose from plus a discothèque at the Hotel al Khaima.
The Medina or old quarter has ancient but well kept blue and white houses. Little shops with friendly shopkeepers sell a variety of Moroccan handicrafts. Every facility is available in Asilah including banks, chemists, church, numerous hotels with bars open to non-residents and a hospital.
The fishing port is a pleasant place for a stroll and there are plans for a yacht Marina. The Mayor of Asilah is also the Moroccan ambassador to the USA and during the late 1970’s this forward thinking gentleman inaugurated an annual summer Arts Festival attended by musicians, painters, poets and writers from all over the world.
The financial impact of both tourism and the Arts Festival has transformed Asilah and the town is now extremely clean and prosperous. Evidence of this appeal are signs on houses in the Medina "This house not for sale"!!
SPECIFICATIONS
EXTERIOR:
* Gated community with garden areas, adult and children's swimming pools. 24 hour security.
* Walkways and parking areas.
* Commercial area with café/bar, mini-market, gymnasium and property management office.
* Water sports hire centre on the beach.
FOUNDATIONS AND STRUCTURE:
* All building with reinforced concrete.
* Double walls with cavity.
ROOFING:
* Covered in rustic style tiles.
* Penthouse apartments flat for private use.
FLOORING AND TILING:
* Top quality ceramic floors to lounge, bedrooms and hallway.
* Non-slip tiles to kitchen and bathroom floors.
* Kitchen and bathrooms with top quality wall tiles.
TERRACES:
* Exterior terraces will have rustic style tiling.
INTERIOR:
* All walls plastered and finished with plastic paint.
WINDOWS AND DOORS:
* Windows will be in white lacquered aluminium.
* Security type entrance door with multi-locks.
* Window blinds.
PLUMBING AND SANITARY WARE:
* Top quality sanitary ware.
* All plumbing to current regulations.
ELECTRICAL:
* Full installation to current regulations.
* TV and telephone points to principal rooms.
* Pre-installation for air-conditioning.
KITCHEN:
* Fitted with wall & base units.
* Equipped with split level hob/oven and fridge freezer.
INTERIOR CARPENTRY:
* Wardrobes fitted as per layout plans.
* Interior doors and wardrobes in varnished timber.
FURNITURE:
* Included in purchase price.
LEISURE:
* An 18 hole Golf Course will be incorporated within the development.
Paradise Beach and Golf Resort Apartments - Financial Information
EXAMPLE OF PAYMENT - 1 Bed Apartment - € 111,000 (approx converted from 875,160 MAD)
PAYMENTS
* To reserve your apartment you will need to pay a HOLDING DEPOSIT of EUR 3,000
* Within 21 days you will need to sign your Purchase Contract and pay the balance of the 40% Deposit € 41,400 (ie € 44,400 less the € 3,000 already paid)
* Upon completion of the property you will need to pay the balance of the Purchase Price by mortgage
THE MORTGAGE
* A 70% Mortgage is available at completion (based on the value at completion, not the purchase price
* Proof of income is required. e.g. A P60 if you are employed or last year’s Tax Return for self-employed persons
* No Mortgage repayments necessary until the Title Deeds are signed and you take possession of your apartment
INVESTMENT EXAMPLE
* Purchase price = € 111,000
* Deposit 40% = € 44,400
* Assuming a Capital Growth of 15% pa then the property value on completion (after 2 years ) = € 146,798
* Mortgage available 70% of € 146,798 = € 102,759
* Difference between Purchase price and Mortgage = € 111,000 -€ 102,759 = € 8,241
* Equity Release available = EUR 44,400 (Deposit already paid) -€ 8,241 = € 35,759
SUMMARY OF PROPERTY FINANCE
* Purchase price = € 111,000
* Financed by € 102,759 (paid by Mortgage) plus € 8,241 (paid by purchaser)
* Projected property value at completion = € 146,798 (see above)
* Projected equity in property at completion = € 146,798 -€102,759 (outstanding Mortgage) = € 44,039
* Projected profit at completion = € 44,039 (equity) - € 8,241 (paid) = € 35,798
NOTES
*
Posh Property International Ltd does not claim to be a Financial or Legal Advisor
*
Any investment examples are for illustrative purposes only and cannot be guaranteed
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