Marsa Alam

[Muzz]

Hi Everyone, just thought i'd introduce myself i have just put a deposit down on a sea front property in Marsa Alam, it is due for completion in Nov 2008.

One of the reasons i chose Marsa Alam is because i love my diving and as yet this area hasn't been dived as much as Sharm etc. i also chose it because there is going to be alot of development but it is going to be hopefully kept low rise etc. There is a marina being built 2 minutes away. I'll be using it for holidays and letting family and friends use it but i'll also be renting it out. So it is an investment and hopefully i'll make some money long term but a bit more than that also

It's got 2 bedrooms and a roof terrace and also sea views all for £32500, i'll keep you posted with developments and problems etc that i come across so others can hopefully learn from my experience. Also if anyone has any advice they can give then i'd be happy to hear.

Hopefully this link will work, this is the property, a fully furnished package including air conditioning is available for £5k when the apartment is completed

http://www.findaproperty.com/displayprop.aspx?edid=09&salerent=0&pid=576152&agentid=05421

I can't speak highly enough of the agent at City & Urban

 

[dave99]

Updates needed on Marsa Alam please

Hi Muzz

Any news on how your apartment is coming along. Just had a look at the web-site and it looks OK.

I'm interested since I may buy a plot and build something.

 

[Muzz]

Hi Everyone, it seems like it's going along ok, to be honest i've kind of just let them get on with it. Every month i get sent update photo's i tried to post the URL but the forum won't let me


Has anyone been through the registering process after the property has been built, i know it's 3% of the cost but as i understand it most people don't bother, i'd feel happier to get it registered though.

 

[dave99]

Registration

Hi Muzz

There are already some threads on registration.

It would seem that the 3% cost has changed and is now a much lower fixed fee.

Have you been given a copy of the land deed yet that proves that the person selling to you actually owns the land.

It also seems that the market in Egypt is still a little young to have many people with completed properties that wish to share their experience.

 

[Muzz]

Hi Dave,

Yep got all the deeds etc

 

[dave99]

Cost of the land

Muzz

Being a bit "developerish" now.

Does the deed give the exact location of the land and the price paid for the land, with previous owner name and date he bought the land.

If so do you feel like sharing.

I'm interested in buying a plot in Marsa alam hence the question.

 

[Muzz]

I'll have a look and get back to you, i'm not going home tonight but i'll check it out tomorrow night

 

[soleiletmer]

Property Market in Egypt

Hi every body, this is my first post, I am new to this business, but I should tell you I have a huge passion for it. Concerning the property market in Egypt, specially in the seaside cities, more specifically in those on the Red Sea, the market is growing monosterously. I believe we are creating the history of these cities at this time.

 

[Muzz]

I really hope you're right, it's exciting but it is stepping into the unknown. You have to take some gambles though or where's the fun in life

 

[soleiletmer]

I really hope you're right, it's exciting but it is stepping into the unknown. You have to take some gambles though or where's the fun in life

Hi Muzz,

I would not say it is a gamble, from what i see, as far as land and property are concerned, you are never a loser. We may be speaking about the benefit ratio here, or the extent of market stability.

 

[giraffe]

Hi Everyone, just thought i'd introduce myself i have just put a deposit down on a sea front property in Marsa Alam, it is due for completion in Nov 2008.

One of the reasons i chose Marsa Alam is because i love my diving and as yet this area hasn't been dived as much as Sharm etc. i also chose it because there is going to be alot of development but it is going to be hopefully kept low rise etc. There is a marina being built 2 minutes away. I'll be using it for holidays and letting family and friends use it but i'll also be renting it out. So it is an investment and hopefully i'll make some money long term but a bit more than that also

It's got 2 bedrooms and a roof terrace and also sea views all for £32500, i'll keep you posted with developments and problems etc that i come across so others can hopefully learn from my experience. Also if anyone has any advice they can give then i'd be happy to hear.

Hopefully this link will work, this is the property, a fully furnished package including air conditioning is available for £5k when the apartment is completed

I can't speak highly enough of the agent at City & Urban

hi Muzz,

was wondering if you could tell me if you've been out to marsa alam to take a look at properties before you bought. i'm still searching for the right place for me, feel like i'm heading away from brazil back towards egypt again! i want somewhere to dive that isnt built up, and really peaceful, hence avioding sharm and hurghada areas. did you check out any other areas of egypt? thanks for any info

 

[Peter Mitry]

Welcome to the Forum Soleiletmer! Are you passionate about investing or are you an agent or a Developer? I share your belief that the property market in Egypt is set to boom; once the budget airlines get their act together and the banks sort out an acceptable mortgage offering it will explode. Now is about as good as it will get to enter the market.....YouTube - Premium Resort Sahl Hasheesh,Egypt .Latest images

 

[tracylove]

Hi there i am thinking of buying one of these apartments from the same company in marsa alam. any advice would be gratefull. did you get yourself an egyptian lawyerto look over the paper work? any advise anyone can offer i would be gratefull. also from anyone who knows anything about hurgarda. cheers.

 

[Veronica1]

sounds great

sounds like my kind of place, are there any units left, and what are the amenities like there, would it be suitable for families, etc.

 

[awahee123]

Egypt is one of the best kept secrets and has been for a while,it does need promoting as I find a lot of divers come here,which isnt a bad thing,it could do with promoting for families and relaxing holidays.

 

[bobby]

Hi there i see by your post you have purchaced property in marsa alam. what is the update? is all going well? Id like to hear as am very intrested in marsa alam and cant find anyone who has purchaced there. thanks

 

[awahee123]

I have also heard Marsa Alam will be the next big development area,anybody know the prices in this area?..

 

[shellbell]

Is Marsa Alam a good bet?

Question just that really. I've been sent details of Marsa Alam Beach Resort - & on paper it looks good. I've watched their development at Zafarana & they seem to be pretty good. So any opinions?

 

[queenie40something]

Hi have you been to Marsa Alam before? Apparently there is not much to do there apart from diving, snorkelling and sunbathing. A friend went and she was bored to tears. At the moment it is fairly undeveloped hence the peace and quiet.

 

[shellbell]

Hi have you been to Marsa Alam before? Apparently there is not much to do there apart from diving, snorkelling and sunbathing. A friend went and she was bored to tears. At the moment it is fairly undeveloped hence the peace and quiet.

No I've only ever been to Sharm actually. I know there is little there at present, but understand the airport is being extended & it seems lots of developments springing up - so wondering if it would be a good bet longer term. I believe theres an unused road between Marsa Alam & Luxor, which if ever opened would mean a 2 hour coach trip to Luxor. IF that ever happened then Marsa Alam would become really attractive.
With this development giving a guaranteed rental for 5 years, I was considering taking a punt on it becoming more than just diving site in years to come. Thats what happened to Sharm isn't it? Could it happen again? Like I say, I'm no expert, just been watching market for a year or so & teetering..........
So any opinions gratefully received.