Luxury high spec frontline beach apartments adjacent to the famous Marina Smir on the Moroccan “Golden Mile” starting from just £53,000

Homes & Property are very excited to announce the release of phase one of a truly magnificent high end beach front development of apartments superbly positioned along the Mediterranean ‘Golden Mile’.

This luxurious development comprises of 280 1, 2 & 3 bedroom apartments. Every apartment benefits from a high spec fully fitted kitchen, marble flooring, air conditioning, and even electric window blinds.

Playa Del Pacha is the last true frontline beach development along Morocco’s ‘Golden Mile’. The Golden Mile extends from Ceuta to Tetouan and is traditionally where wealthy Moroccans as well as Europeans stay during their holidays. This area is already a tried and tested rental market and on average a 2 bed apartment will rent for approx €100-€150 per night during the peak season (June – September) and slightly less outside these months.

There are several projects being developed along this coast; however these projects are being built on the opposite side of the road Ceuta - Tetouan. Playa Del Pacha represents your last chance to secure a prime beachfront position! It goes without saying that any property in a true beachfront location is the most desirable and will obtain the most capital growth.

Playa Del Pacha is ideal for both the investor and holiday maker. On the investment side, you already have a proven rental market and your exit strategy is excellent as both Moroccans and foreigners buy in this area. For the holiday makers, the location is really unbeatable – positioned right next to Marina Smir with its bars, cafes and restaurants, and the new water park and an 18 hole golf course is only a few minutes walk away.

Playa Del Pacha is bought to you by one of the largest developers in Morocco who currently has over 40 projects underway. The development comes with full bank guarantees and payment structure is 30% on contracts and 70% on completion (mid-late 2008) Playa del Pacha will be released in 3 phases and we are currently marketing Phase 1. Each subsequent release will be at a premium of between 15-20%.

The initial outlay is only 30% which can be recuperated as cash back on completion through your mortgage, as the mortgage is based on the actual market value of the property and not the purchase price. Moroccan banks offer mortgages at very competitive rates between 4.2% and 5.5% and we can help facilitate these.