A couple who bought property in Brazil after holidaying in the country have seen the value of their investment almost double.
Susan and Matt Marshall paid $360,000 (£260,000) plus $55,000 in taxes and fees for their waterfront house in Ferradura and spent $2 million on refurbishments, the New York Times reports.
They are now receiving offers between $3 and $4 million from local estate agents for their home, but cannot be induced to sell after realising their dream of owning a property in Brazil.
"When I came through the front door here, the view was just breathtaking," Mrs Marshall tells the newspaper, referring to her 630 square-metre house, which also boasts a Jacuzzi, small pool and waterfall.
The Marshalls turned the property into a guest house which has five ensuite bedrooms, an open-plan living room, kitchen, office and self-contained two-bedroom apartment for their housekeepers.
Last week, a study by Halifax found that Brazil is one of the most affordable holiday destinations for British people.
Click on the image to find out more. [14.09.2007]Cabo Negro Golf - nr Tetouan Morocco
Fantastic pre-release offers on the is stunning development on one of Morocco's most unspoilt coastal areas. Fast becoming the most sought after area for property owners, Cabo Negro is the home of the region’s oldest golf course, the “Royal Cabo Negro”. O ften frequented by the Moroccan royal family, including the King’s brother and Aunt.... [22.08.2007]Time to invest abroad? Record number of people leave UK
According to the BBC website today (Wednesday 22nd August) more people left the UK last than in any year since the current records began. 196,000 British citizens left the country with Australia being the most popular destination but Spain and France not far behind.
Morocco is gearing up to be a top Mediterranean destination within three years with the launch of Vision 2010.The King of Morocco himself is spearheading a drive to increase tourist visitors to 10million per year by the end of this decade. This will increase the potential rental income and boosting property capital throughout the country.
Although you will find many agents selling Moroccan Property in reality it is still a relatively quiet market on the international property stage. This is a good thing however....
Morocco's commitment to tourism helps property investments
[24 November 2007]
Morocco’s Mission to Increase Tourism
We found the commitment to Morocco’s vision inspiring. As well as the government committing to training 70,000 professionals in the various trades of hospitality and tourism they are adopting a modern marketing partnership between tour operators, professionals and regions to improve the quality of hospitality services. In line with the improvement of these services, and the expectancy of 120,000 beds for tourists being available by 2010, the conference was boosted by the attendance of BA, Easy Jet, Jet 4 U, Royal Air Moroc,Air France, Ryan Air and Atlas Blue.These airlines are all committing to increase
flights into the country. Oujda airport alone is expecting 80 flights a week into its international airport, making the Moroccan property market an extremely lucrative investment!
For those of you who have visited Morocco you’ll have seen a land rich with potential. Morocco is offering buyers the chance to get early involvement in an exciting and profitable property development plan. In 2001 the newly crowned King Mohammed VI announced a scheme called Vision 2010, which aims to increase the number of tourists visiting Morocco to 10 million per year, generating 600,000 new jobs in the process.
An important element of Vision 2010 is Plan D’Azur, a government-backed scheme of six new coastal resorts throughout the country.The plan also includes agreements recently concluded with UAE investors Emaar Properties and Dubai Holding, which have pledged to invest huge sums over the next decade.The first of the Plan D’Azur resorts and the only resort on the Mediterranean Coast of Morocco is Mediterrania-Saidia.
Construction works in Saidia are well underway, including the refurbishment of the roads and the beach promenade. In terms of villas and apartments, a number of Fadesa apartments are coming into their final stages as are their villas with the Greens and Fairways developments having their skeleton build in place. The site is progressing at a great rate with completion expected in 2010, however there’s still a huge amount of investment potential with the majority of properties available off-plan.
Plane sailing for Mediterrania-Saidia Hailed as Morocco’s flagship resort, the Moroccan government behind Mediterrania Saidia has revealed plans to expand Oujda international airport with the construction of two new runways, a brand new terminal building with bridge access to 25 stands and a parking bay with capacity for 15 aeroplanes. According to the Moroccan authorities, the number of passengers travelling through Oujda airport will reach 1.2 million by 2015 (compared with 258,700 in 2006).This growth is in line with the increase in hotel beds which is expected to rise from 620 (2006) to 15,942 beds in 2012. In order to transform Oujda into the main airport for the region, significant infastructure investment is being made.The airport will be connected to the city of Fez by high speed train and toll road and the journey time between Oujda and Mediterrania Saïdia will be only 35 minutes thanks to the new motorway link.
Exotic Property Sales are pleased to present the cream of Moroccan Mediterranean property investments...
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