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I don't understand!

Discussion in 'Egypt property' started by bedouin, Apr 13, 2008.

  1. bedouin

    bedouin New Member

    I've been reading the Marsa Alam thread and it got me quite confused as to what exactly people are buying! What does it mean to buy an apartment in one for those resorts with guarantee rental income? I'm beginning to get the impression that those apartments are not to live in as I would only be allowed certain numbers of weeks a year :D , it all sounds very strange to me.

    I'm looking to buy property for myself. Whether I choose to rent it or not is not an issue at this time but it has to be mine in every sense of the word. So with that in mind should I consider buying in those resorts?
  2. lyndsay552

    lyndsay552 New Member

    Hi bedouin,

    Places like Marsa Alam do offer a gauranteed rental scheme, where you are only permitted to use your apartment a set number of weeks a year but in return you get a certain percentage of the value back. A rental management company or something similar then rents out your apartment.

    This sort of scheme suits a lot of people who only want to use their apartment for few weeks a year and don't want the hassle of organising rentals.

    But as with all these things it depends what you want the apartment for. As far as I know the guaranteed rentals schemes are not complusary and you can choose not to participate in them if they don't suit you.

    I hope this helps

  3. bedouin

    bedouin New Member

    Hi Lyndsay,

    Thanks for your reply and certainly clarified things for me. I can only guess that if do not participate in the rental scheme that the price would be quite a bit higher.

    Thanks again for your help.
  4. cin7166

    cin7166 New Member

    Hi Bedouin,
    I have bought in Marsa Alam. The prices are not any higher if you don't want to participate in the rental scheme, but you will have to pay for the maintenace approx 50 Euros per month. In the rental scheme you get 6 weeks per year for your own use.
  5. lyndsay552

    lyndsay552 New Member

    I have actually heard the opposite. Some people are off the opinion that the guaranteed is actually just added onto the price of the apartment, so in effect you just get back some of your original money.

    None of the apartments that I have bought are part of a guaranteed rental so I'm not too sure

  6. cin7166

    cin7166 New Member

    The apartment I bought is 40,000 Euros for a two bedroom and I did my research on others in the area, all selling for approx same price with no rental guarantees so I don't believe we will just be getting our money back. We get 50% back over 5 years so I can't see any other two bedroom apartments for sale for 20,000 Euros without rental guarantees.
  7. lyndsay552

    lyndsay552 New Member

    I did not say specifically Marsa Alam as I do think they are very reasonably priced and my Father very nearly bought in their other development in Zafarana. I was talking about guaranteed rental schemes in general.

  8. cin7166

    cin7166 New Member

    Yes, I had heard the same about other developments. You just have to do the research on the area to see the prices of other developments and compare.
  9. hello
    why don't yu take inj other projects which doesn't have this conflict in your opinion? for living I would choose hurghada :)
  10. bedouin

    bedouin New Member

    I don't like Hurghada and though I like sharm I would not live there. I want to be alone :D. I'm thinking Dahab, Marsa Alam, Nuweiba , Al know, relaxing and secluded. My first choice would be Dahab, do you know of reasonable priced house of land?
  11. Jef1

    Jef1 New Member

    I Don't Understand.

    Hi Bedouin.

    I too am not keen on Hurghada and am looking into other areas. I discounted Sharm with the properties being leasehold. I have reserved on the Las Cabanas Development in Marsa Alam but am waiting for my agent at Property Matters Overseas to send me some up to date photos as he's currently in Egypt visiting the site. I have been told that the prices have just increased but apartments are still affordable. Its taken me months to reserve so take your time looking!
  12. queenie40something

    queenie40something Senior Member

    Hi Bedouin - where are you currently located??? You say you like Sharn but wouldnt like to live there why??
  13. bedouin

    bedouin New Member

    I am currently living in Canada and have been for more than 20 years. I am Egyptian and grew up in Cairo.

    I like Sharm but it's just too busy for what I have in mind. I should say that my knowledge of Sharm and Hurghada is very limited and my impression of them is based on short visits. But I know what I like and I like Dahab and Marsa Alam as they're still quite and natural. Where I would really love to live is in Ras Abu Galum ;) but I don't think they would let me build there :rolleyes:
  14. i know someone who sl in Dahab for people who practice kitesurf :) do you?
    did you think about Sahl Hasheesh?
  15. bedouin

    bedouin New Member

    I didn't understand that first sentence. Are you asking me if I kitesurf,no I don't but would love to learn.

    I thought about Sahl Hasheesh and will continue to consider it but I would have to actually see it before I decide. I tend to like living with Egyptians and Bedouins than foreigners..........I had enough of foreigners :p
  16. queenie40something

    queenie40something Senior Member

    Hi Bedoiun - good luck with your search and I hope you find your dream in the sun. Let us know how you get on.
  17. some Egyptians live there the developer himself live in sahl Hasheesh :)
  18. giovanna

    giovanna New Member

    Hello Bedouin, did u hear speak about Sahl Hasheesh?...?
    i think maybe there can be nice for u..just 14 km from hurghada airport, but far enoufh from the city `s noises..
    And if you like Marsa Alam ..think about Las cabanas.
    that s just my advice!
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