Tuesday 17 October 2006 3.26pm
I am the Director of Homes & Property Overseas at 132 Bermondsey Street
Many thanks for your comments.
Bermondsey St is now a vibrant street which is exactly why we have created a unique designer showroom to bring people into the area. Our decision to focus entirely on Morocco has been made through careful due diligence and in comparison with all other emerging overseas markets.
Peverest - I understand your comments about not being able to afford to buy a bigger flat in the immediate area. This is precisely why investors are now looking to put their money into property abroad. We have beachfront developments in Morocco with 2 bedroom, 2 bathroom apartments starting from £44,000.
A lot of people have the preconception that buying overseas is expensive and a second home is only for the 'rich'. This is not the case, especially considering payment on most developments is 40% down and 60% on completion, with Moroccan mortgages already available.
Capital growth rates in Morocco are currently between 15-30%. These are off plan properties with completion dates of 2008, so by the time the properties are built you have realised considerable capital growth. Alternatively, you can choose to sell before completion. You won't get that from a Tuna Sandwich - even one from Bermondsey St!!
We will be having drinks at our official launch evening tomorrow, Weds 18th Oct from 5pm - 9pm. Please come along and meet us and have a proper look at the new addition to Bermondsey St.