price differences

[shak]

Can somebody explain why there is price difference between what Fadesa is charging and what some people have paid according to the Forum

Fadesa price

Type M2 price €
1bedroom 48.8 66,362
2 bedroom 70.9 74,918
2bedroom 70.9 92,975 ( with solarium)
3bedroom 92.6 96,200

I have seen people paying two bedrooms with solarium for around €106,000.

[romablade1889]

I've been quoted EUROS85,407 for a 2 bed 1st floor.

[shak]

First floor two bedroom should be €74,918, who quoted the amount of €85,407 ??????

[CARLYWOO]

Shak where did you get your prices from

[shak]

From Fadesa

[CARLYWOO]

Shak

Was that before or after launch I know they were the estimated prices before launch but not confirmed,

Has anybody actually secured units at the cheaper prices?

[shak]

After the un official launch and further confirmed by the moroccan office manager on my visit to the site.

The above prices that I quoated are NOT the ones which estate agents were guessing a week or so prior to unofficial launch

[shak]

Sorry Carlywoo, Missed the last part of your postings, To the best of my knowledge no body has received a contract etc so we wont know.

The prices that I stated were offered to me in writing so there is no chance of any misunderstanding. I did inquire if there was a price difference according to floor level, orientation etc, and was told catogarically told NO

[rossandjames]

Shak,

These prices are correct, but you have forgotten the 14% VAT owed on all new build property in Morocco. Therefore prices are correct.

[shak]

What are you trying to say ? your opening sentance says " These prices are correct, but you have forgotten the 14% VAT owed on all new build property in Morocco" The last sentance "Therefore prices are correct".

You sound confused to me or perhaps making the water muddy !!!!!

I am aware that there is VAT @14 %. The prices that I listed above provided by Fadesa included VAT however it did not include noraty fee, land trasfer tax etc.

[Colin]

Shak,

You do bring up some interesting points, however this explanation about prices is a reasonable one. Also, every check I have done on Fadesa, especially in Morocco, suggests the highest standard of building, granted your example is very disturbing for those involved but for a 30 year history if this is all that can be found against them then I for one think this proves they have a good reputation, unlike so many of the developers currently in Morocco. So do we really need to hear about your friends air conditioning again? Point made, point understood.

Colin.

[shak]

Hi Colin,
Wether you or other wish to read mine/and or others posting and take a view positive/negative is their choice.

In so far 30 years of exprience some twenty years had been in Galicia
where as I said the fisherman were only grateful to fadesa for a roof over their heading would not have complained or even contemplate to fadesa to court because financially they could not nor they had access to various forums to bring their experiences good/bad to general public..

I have shared my experience and my friends and also of the buyers at Fadesa, Costa Asuri, Of course I dont have knowlegde of all the Fadesa buyers or their experiences good or bad.

The reason that I had set the experiences out was that I was asked by user of this forum to relate my claim/experience. I had done this and in so far my friends, the bought from Fadesa much later than I did.

I had expected that Fadesa would have learned from their past experiences and put them into action. Unfortunately Fadesa has carried out in the same vain.

When Fadesa did thier first development for the international market in Marbella their were disgrunteled buyers ( these people I knew as I was on the management comittee ) they were reasonable people and had been short changed/and have been ignored once the contract were signed or the property handed over. There were people who had banners outside their terraces and had set up a website. These people were threatned to shut up or else.

From your last few posting I am feeling that you are been influenced by Fadesa!!!!!!!!

[azul]

Shak's prices are correct. The prices he posted do include the 14% VAT. I was quoted these prices and they were confirmed, by a Fadesa representative.
Also, I'm told that none of the new off-plan properties include A/C, just the hook-up. The buyer must provide their own A/C unit and the kitchen only has a stove and no other appliances, at Alkudia.

[shak]

Hi Colin,
The prices that I was given by Fadesa included VAT at 14 %. This was confirmed by a senior manager not once but on several occassions and further by their sales staff. ( most people would not have asked I however did and why !!!!! becuase I had dealt with Fadesa)

I can therefore come to one of the two conclusions.

1) The senior manager of Fadesa who gave me VAT included prices did he/she knew what the prices were ? and their make up.

2) Or in the confusion/lack of information availible to buyers/investor, Fadesa took this opportunity of effectively marking up by another 14%.

If Fadesa did not wanted to have this situation they should have set the prices clearly, and set out the specifications along with it.

Investors look at risk minimising and a quick return on their money. The lack of very basic info will deter an investor however a gambler will stay in.

It is precisely for this reason that I did pull out. Why would as an experienced buyer. I would buy something.


a) Was first front line beach than it was not,

b) it would have sea view than this turned out not to be.

c) Will have A/c now it would be ducting

d) Will have fitted kitchen now its only the hub and the oven

e) Were promised two bedroom than were offered 1 bedroom

f) Prices offered were inclusive of VAT, it now seams they are not.

g) What else will crop up along the line, once I have signed the contracts

As the planning permission has not been granted yet changes will be made and this will suit Fadesa to our detrement.

Buyers should not taking Saadia as an example as the two are very different, the land cost was different if any, some of the land has been now been sold off. ( Buyers might be interested to know that Fadesa had done social housing in Morocco before Morocco opened it doors to the like of you and me)

The king of Morocco took a special interest in it as this was the first of Azur developments he was there for the officil opening ceromany. The focus is on Saadia . Fadesa has to use Saadia as a flagship. However Kabila is a different story.


As a buyer/investor I have a choice where I invest my money ???

Finally if the forum members do not wish to hear or read the experiences I am very happy to not to contibute. I feel that they can learn from my experience whilst I had paid for this in terms of money/time. The members of the Forum are having all this for free.

Finally, for all those who feel that I may be a disgruntled ex Fadesa staff I am not. I just do a very balance and through research before I part with my hard earned money.

[todd]

Shak
Keep posting, right what you say 14% tax just another price increase. Fadesa getting greedy now, if they go ahead apartments will be overpriced.