by romablade1889 » Fri Oct 06, 2006 5:20 pm
Shak,
You're losing me as one of your advocates...
Either Morocco is a seriously under supplied market or every property expert this side of Mars is completely and utterly mad.
I don't have any doubts that Fadsa will sell every single unit on Alkudia, and their next development and their next one... The only risk they have is if the quality of the first few units is poor, which is why I don't think they will be.
If you think that the current number of developments being built now, or being built in the next 5 years will satisfy demand for apartments in Morocco, then I suggest you do more of your due dilligence on the tourism industry and foreign inward investment forecasts for the region...
Secondly, those willing to take the risk of buying off plan are in the minority - hence the healthy resale markets in Spain or anywhere else for that matter. As such, even when Alkudia is only partially finished, there'll be a ready supply of buyers wanting to jump the queue and buy a finished or near finished apartment.
Look, I completely agree with you that buying on Alkudia is risky. I wouldn't be showing any interest if it wasn't because no risk = no serious profit... The apartments might be crap when they're finished, but I'll bet my car with you right now that it will still sell for at least 20% more than I pay for it, within 2 years.