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Is Sahl-Hasheesh a good investment?

Discussion in 'Egypt property' started by cuerdley1989, Sep 24, 2008.

  1. cuerdley1989

    cuerdley1989 New Member

    I am intending to look at properties at Sahl-Hasheesh as an investment and not particularly a holiday home.
    If I was to purchase a 2 bedroom apartment - how much could I expect to receive for renting it out?
    Would it be a better investment than El Gouna?
     
  2. danny

    danny New Member

    Is Sahl-Hasheesh a good investment? Reply to Thread

    In the future they may well be a sound rental investment but you will have to wait a while before projects are completed and infrastructure is complete and amenities are readily available.
    If you need instant return on your investment then you would be better looking at projects that are already complete or are virtually complete with guaranteed rental.
     
  3. wemyss1960

    wemyss1960 New Member

    Palm Beach Piazza

    Hi,

    Palm Beach Piazza has been completed. Properties are already being rented out and used by their owners.

    Although 'SOLD OUT' some resales are available.

    El Gouna is also superb!
     
  4. cuerdley1989

    cuerdley1989 New Member

    Hi - stayed in El Gouna for 2 weeks earlier in the year and throughly enjoyed it, but have been advised that Sahl-Hasheesh should be even nicer.

    Have you any idea what price Palm Beach Piazza are being rented out at?
     
  5. HORIZON

    HORIZON New Member

    I was advised to look at Oberoi for rental returns - rate per night would be something developers will be predicting to clients.

    I would agree however Sahl is now somewhat overpriced for the place with so much construction and no infrastructure yet. When it has - it will be more expensive than El Gouna. But always take into account Sahl Hasheesh is freehold properties and El Gouna - Signature Validity Verdict only.

    They are about to open the Oldtown this year, so to my mind the price increase can be predicted after this. But in the end investing in Sahl is already for people who have substantial deposit to put in for investment - you will deposit more, you will get more in the end.

    Or you can go for small investments in Hurghada and make use of them faster.

    People say Gamsha Bay is great for investment and even not yet started - I bet it will be pricier than Sahl or El Gouna... I guess the delay is because they want to enter market in the right moment to be able to make the price higher.
     
  6. wemyss1960

    wemyss1960 New Member

    Palm Beach Piazza potential rental income

    It varies really. Through estate-alliancedotcom they are advertised from 50 euro per night,85 euro per night or 650 euro per month.

    Personally I feel next year they will fetch about £150 pw min

    Never rely on rental income to cover any loans etc ...
     
  7. NeilHollingsworth

    NeilHollingsworth New Member

    Anyone know what the average maintenance charges are for Sahl Hasheesh developments?
     
  8. HORIZON

    HORIZON New Member

    I would say GBP 5 per sqm but no doubt varies from project to project.
     
  9. wemyss1960

    wemyss1960 New Member

    Maintenance fees


    Palm Beach Piazza was originally quoted as 1 euro per m2 per month
    I believe some people are paying £750 per annum for a 64m2 apartment which equates to just less than £1 per m2 per month
     
  10. HORIZON

    HORIZON New Member

    Actually i stated the rate per year..
     
  11. kitty

    kitty New Member

    difference

    horizon

    But always take into account Sahl Hasheesh is freehold properties and El Gouna - Signature Validity Verdict only.

    what is the difference between freehold and Signature Validity Verdict only?

    thanks
     
  12. HORIZON

    HORIZON New Member

    Hey bombers,

    I guess this issue was discussed somewhere in Legal issues...

    Anyway if you cannot register your property but still want some security on your purchase you ask the court to validate the signature which is on original purchase agreement, that is that it belongs to the person who is stated in the contract. Takes about half a year to finish this.

    But many people even if they purchase freehold properties, do not register because of the law stating you cannot acquire more than 2 properties in Egypt and that you cannot resell before 5 years.
     
  13. SuziQ2708

    SuziQ2708 Guest

    I don't understand what Horizon is saying either. The Hurghada region is all freehold isn't it? I believe the Signature Validity Verdict is an option most people choose as it is less restrictive than Registering your property, so how can these two be compared when they are entirely different things?
     
  14. HORIZON

    HORIZON New Member

    Freehold is when you can actually choose to register your property or not, you cannot register in El Gouna. It is not leasehold either. But I never call it freehold if the land on which my property stands is not registered.
     
  15. SuziQ2708

    SuziQ2708 Guest

    Ok, thanks for squaring that up Horizon :)
     
  16. HORIZON

    HORIZON New Member

    Welcome Suzi, legal part of Egypt is ... complicated ;)
     
  17. wemyss1960

    wemyss1960 New Member

    maintenance fees

    Violeta,

    I assume this is the annual charge for The Sultanate of pleasure development.
     
  18. HORIZON

    HORIZON New Member

    It happens to be but by reckoning other developments, cant we say it is closer to average?We just have Pyramisa Group projects, Resort Alliance proejcts and several others to compare..

    Not all developments, however, count per sqm.
     
  19. NeilHollingsworth

    NeilHollingsworth New Member

    Sunset/Red Sea and Isis Pearls are GBP16 per m2 set by The Pyramisa Group.
     
  20. scubadoo

    scubadoo New Member

    I take it that is an annual charge, Neil.
     
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