Hi All,
This is my first post (yes i ve read the new members thread, thanks in advance mods)
Some great information on this site in regards purchasing property in Egypt, especially for prespective 1st time buyers such as myself - keep up the great work mods!!!
1) In your experience what type of property (i.e. studio, 1, 2, 3 bed) appreaciates the most?
tough question! in my experience studios and one beds can produce the best rental yield/for money invested, however the flip side is that 2 beds rent out better to families..so i guess the answer is that it depends on how much of the year the property is rented out.
2) Which resort is most likely to emulate the success and huge capital appreciation seen in el gouna?
at present i believe sahl hasheesh is the only rival "international resort" to el gouna. i think gamsha bay and marsa alam are a bit to far away from the centre triangle ( el gouna - hurghada - sahl hasheesh ) to be serious competitors for the time being
3) Ive heard Cairo offers some of the best rental yields for any major city throughout the world, can anybody point me in the direction of investment companies who deal with Cairo? i see demac are planning a resort but the entry prices are quite high and it does seem very exclusive.
I used to work for a developer from cairo..its all out of town ( sheik zayed, sixth october, beverley hills ) being developed for the new rich of cairo...you would need 100k
4) I have 30k to invest, if you were me - what would you do, all suggestions welcome and appreciated!!!
do you have 30k all in? my advice is have the same amount in the bank as you are looking to invest (that's from my poker playing days) you have to budget for furnishing (can be more than you think!),bills, maintenance, lawyers, local taxes etc..unless the developer is offering a guaranteed rental consider if you can afford to keep the property running and in good shape with a 0% yield..thats worst case scenario. Of course it wont be, but every good general will plan for the worst...everything else is gravy! thats i hard rule but i havn't lost my shirt yet.
so my advice >>> with a 30k before buying make sure you can handle the cost of ownership..if you are ok with that, in the present crunch try to buy outright rather than burden yourself with finance..
over to the others..