Mirleft - to build or not to build?

Currency MAD (1 EUR = 11 MAD)
Climate
Prices
Food: Sardines 12 MAD/kg, Tuna-like 40 MAD/kg, Dorada 40-60 MAD, Shrimp 70 MAD, Lobster 200 MAD, Squid cheap local negotiable
Chicken 20-40 MAD/kg, Beef/Sheet/Goat/Camel 70-100 MAD / kg
Flatbread 1 MAD small, 2 MAD large
Cherry tomatoes: 7 MAD, lemons/oranges/clemantines 3-5 MAD / kg, onions/potatoes/cucumber/other 3-6 MAD / kg
1 litre coca-cola 6 MAD,
Utilities: Electricity: starts @1 MAD/kWh up to 100 kWh and goes up to 1.5 after 300 kWh
Gas: 44 MAD / 12.5 kg gas tank
Internet: 100-200 MAD ADSL, 500 MAD Fibre
Water: not sure, but not expensive as per people I've asked
Purchase Taxes: About 7% paid by buyer (info here)
Property Taxes: Habitation tax, Community tax, levied upon rental value. In practice, for most properties I asked about, circa 1000 MAD / year
Land prices: Small lots, 100% buildable, in the city: 2000-3000 MAD/m2
Rental prices: Apartment where we stayed (Mirleft trip): 3300 MAD / month for a 3-month stay, including expenses. Same apartment would be over 10000 MAD / month in the summer
Construction prices: 20000 MAD approvals and architecture
1000 MAD / m2 "grades oeuvres" / la rosu / skeleton
1500 MAD / m2 cheapest finishing, 2500 MAD / m2 decent finishing, 4000 MAD / m2 "luxury" finishing
Cost of unqualified labor: 100 MAD / full working day
Key Selling Points
  • Fantastic climate
  • Natural beauty (7 beaches, nice treks nearby)
  • Potential rental yield for summer months when moroccans from the North escape the heat here
  • Laid-back, non-aggressive locals. Nice atmoshpere (de gustibus)
  • Cheap cost of living / building

A - General photos of Mirleft and surroundings to give a taste

A few images from here and there to portray the place

B - Mirleft Trip, where we stayed, very close to city centre

A few images from the apartment itself to give an idea

C - Existing apartment building close to the beach, nicely compartmented but a bit far from city centre

Available apartments:


D - Existing villas, almost 200 m2 of land, 150 m2 inside. Finishing left to the buyer

1 vila still available, 1 000 000 MAD as is (+200 000 MAD estimated finishing to a good standard)

E - Existing 3-story + terrace house, skeleton finished, final touches can be discussed with owner

1 000 000 MAD, includes finishing to buyer's linking

F - Existing villa, more room, unfinished second story but finishing included in price (discussed with owner)

1 000 000 MAD

G - Existing apartment building close to the beach, Moroccan style

Position is not 100% exact, haven't seen it myself. 2 apartments for sale @ 900 000 (price for both of them bought together, 160 m2, two nice terraces, fully furnished). Already on airbnb

H - Holiday house in Rkhout with 4 apartments, 2 finished, 2 under work

1 000 000 MAD - in the middle of nowhere

I - 3 apartments in one building, under work

900 000 MAD, including finishing the apartments

J - Horrible old house

600 000 MAD