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Luxury Investment - Niche Villa Project
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These luxurious villas have an enclosed central courtyard, large living/dining room, kitchen, 2/2.5 bathrooms, 2/3/4 bedrooms and large roof terrace/solarium. All properties will be fully furnished and include air-conditioning.
The Mediterrania-Saidia Resort is a new state-of-the-art tourist destination resort in northern Morocco on the Mediterranean coastline and features three 18-hole golf courses as well as 6 kms of pristine beaches with 17 Beach Clubs.
The resort is one of only 6 resorts sponsored by the Moroccan government as part of their Plan Azur tourism initiative.
Frequently Asked Questions
How do I secure a property?
An initial holding deposit of £2000 or €3000 is all that is needed to secure a property for 28 days. This gives you time to visit the project or buy ‘site unseen’.
What is the payment structure for the Oasis Beach and Golf Resort?
20% of the purchase price is payable on exchange of contracts (a deposit of £2,000 is deducted from this). A further 10% is then required on start of construction followed by a further 10% on completion of the concrete structure. The final 60% is paid either in cash or via a mortgage.
Will I be able to rent out my property?
Properties here should provide lucrative year-round rental potential because of the climate and golf facilities. An added bonus is that owners are income tax-exempt for the first 5 years.
What ongoing costs should I expect?
Running costs are set to be around £120-£160 per month, including utility, maintenance and management charges.
What is the Capital Gains Tax situation?
Capital Gains Tax (TPI) is 20% of the profit, with a minimum of 3% of the sale price. There is a double taxation treaty between the UK and Morocco to ensure that this is not paid in both countries. Properties sold within 8 years or more of ownership are fully exempt from TPI. Properties sold after more than 5 years ownership but less than 10 years are subject to TPI of 10% of any capital gain over 1 million MAD (about £62,000).
What if I want to re-sell before completion?
You can sell on to a 3rd party (once the initial 20% has been paid) via a transfer contract drawn up by your solicitor.
One-to-one viewing trips are now available and leave from Malaga Airport. Please contact us today for booking arrangements and full details.
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