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Which is better to invest in Egypt ?

Poll closed Feb 22, 2008.
  1. Sharm El Shiekh

    0 vote(s)
    0.0%
  2. Hurghada

    8 vote(s)
    66.7%
  3. El Gouna

    2 vote(s)
    16.7%
  4. Sahl Al Hasheesh

    2 vote(s)
    16.7%
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Looking for Studio Apartments for 20 to 30 EURO

Discussion in 'Egypt property' started by abomadi, Feb 12, 2008.

  1. abomadi

    abomadi New Member

    Hi folks,
    lately i was in dilemma looking for suitable Studio in Sharm, Hurghada, El Gouna, Sahl Il Hasheesh, guys i really need your advice for future market growing in these areas, honestly i need this for "buy to let" investment, i researched all the information about them but still lost, i think Hurghada + El Gouna will took the lights from Sharm after GAMSHA Bay project starts also sharm has a strong tourism income :), so your advice is much appreciated also if there is an interesting development that could help to take my decision please apply it.
    Best Regards.
     
  2. queenie40something

    queenie40something Senior Member

    Hi - there are always people looking for long term lets in Sharm but you will not get alot for a studio - around 2000 / 2500 le a month.
    Sharm is not as developed as Hurghada so rental will be alot easier.
     
  3. abomadi

    abomadi New Member

    thanks queenie for advice, but i didn't correctly understood what "Sharm is not as developed as Hurghada" and which area is easier to be rent ?
     
  4. I think its easy decision if i tell you that properties in Hurghada & ElGouna are free hold while in Sharm is not allowed for foreigner to own any property just 99 years contract.
    besides in Sharm there is no city while Hurghada is a big community and after Gamsha as you said it will be more great
     
  5. queenie40something

    queenie40something Senior Member

    Hi what I mean is that there are far less buildings and building sites in Sharm than what there are in Hurghada. There are alot fewer complexes in Sharm and thus making it alot easier to rent because there will not be so much choice. For eg in Hurghada a holiday let company in the UK could have 100 apartments to rent on their books in Hurghada and Sharm there may only be 20 so the chances of you getting bookings could well be better in Sharm.
    Does this now make sense?
    The 99 year lease in Sinai is not a problem.

    Regards

    Alison
     
  6. awahee123

    awahee123 Banned

    I think we have had something similar before regarding the poll,I see Hurghada is winning at the moment,we must love the haggling....LOL
     
  7. Mark .Y.

    Mark .Y. New Member

    Not quite sure of the relevance of the 99 year lease comment. I don't think that will stop anybody purchasing in Sharm and I believe it is renewed for the new owner if you sell.
    Bottom line at the moment in the UK is Sharm is far better known than Hurghada - may not stay that way and I personally think Hurghada has some charm but that is the way it is at this time.

    Mark .Y.
     
  8. If you live in Uk so sure you know much more what British People Prefere at the moment :) and what they know more about
     
  9. abomadi

    abomadi New Member

    well, thats a bit useful information, but the most important to me which have a stronger market in Europe & Australia ??, i don't care about City if it's exists or not since I'll not live there i care only about higher rental income and future market.
    i think queenie's & Mark's posts made me a little comfortable regarding sharm, 99 years not a big deal for investor!.
    Regards.
     
  10. queenie40something

    queenie40something Senior Member

    Hi also Im led to believe that when you sell in Sharm the new owner can apply for a new 99 year lease for about £1000.
     
  11. Mark .Y.

    Mark .Y. New Member

    I don't personally think either place will prove to be very good for anybody counting on rental income. Hurghada will have such a huge supply that prices will be held down and there are many developments in Sharm too.
    I think if you factor in the very cheap hotels and the possibility of political strife/problems it is best to consider Hurghada/Sharm as places you buy to enjoy yourself with the odd few rentals as bonuses.
    I'm not sure if the same applies in other areas such as Cairo, could be completely different there.

    Mark .Y.
     
  12. abomadi

    abomadi New Member

    Well mark i totally agree with you about counting on rental income, since it's low but you may consider too the market growing thats do effect the property price it self, also i am quite thinking that properties will always increasing not decreasing in such places (Same As Dubai Tourism Areas) this properties usually should be sold after 4-6 years which if you calculated the rental income + market growing then maybe it's a little bit useful more than buying a new car that lost it value after few years, and as you said it's a place to enjoy yourself too.

     
  13. I totaly agree with you abomadi here rental incom can't be expected but the value of the property is the thingyou count, here years ago the prices was quarter the current prices so its increased in last 3 years 200% andi can tell you ext march prices will be up by 20% at least so if you buy this month next month you will have 20% profit so can you imagin what will be in future????
    here its amazingchancesandshould take it and best is to come andhave areal look to have the true feelings of your investment
     
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