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Oversupply of beds in Eygpt?

Discussion in 'Egypt property' started by Jonathanw, Jun 9, 2008.

  1. Jonathanw

    Jonathanw New Member

    Is there not going to be an oversupply of beds in Eygpt?
    It seems like there are so many projects there at the moment...?
     
  2. NeilHollingsworth

    NeilHollingsworth New Member

    Hi Jonathanw, they have been building in Spain for the past 20 plus years and only in the past few years reached oversupply. I think it will need to be addressed in the future but i feel it will be ok for the next 10 years or so.

    Those that are buying now will have the more desirable properties as they will be closer to the beaches and amenities. The people struggling in Spain are those that have bought miles from the coast and facilities or on huge developments. If you think of places like Sahl that will be a gated resort, in 5 years time when the golf courses are finished, the other infrastructure in place how desirable are developments like Sunset/Red Sea Pearl or The Pyramisa Hotel going to be?

    You can only build by the coast or a golf course once, the next will be second, third or fourth line.
     
  3. Jonathanw

    Jonathanw New Member

    thanks very much for your thoughts, quite true, i suppose the moral is to search out the coastline early on!
    have you any advice for me on my other post regarding Bali and Austria? Any help will be greatly received.
    Thanks Jon
     
  4. Georgina

    Georgina New Member

    Or if you look on Google Earth or drive from Cairo to Marsa Alam I think it will be a long, long time before we run out of front line beach development.

    It is a shame the seats on flights don't seem to match the number of beds. I guess there are many flights a day to Spain rather than a few a week into Hurghada.
     
  5. NeilHollingsworth

    NeilHollingsworth New Member

    But how many were there to Spain 20 years ago???
     
  6. NeilHollingsworth

    NeilHollingsworth New Member

    Hi Jonathanw, you are quite right, research and get in while the going is good. I am afraid i can't help on the other posts, not areas i deal in and therefore would not like to comment sorry.
     
  7. vix

    vix New Member

    Thats true, but you could catch a bus to Spain 15 years ago for £15.00
     
  8. NeilHollingsworth

    NeilHollingsworth New Member

    Very true Vix, i will check bus routes to Hurghada now:D
     
  9. James Barnett

    James Barnett New Member

    I beleive anywhere indicated as a region worth investing in will be flooded with property, purely because so called investors in the UK and Ireland buy holliday homes there, Thinking they will sell it on to people exactly like themselves when the truth is they are the end users. My advice is simple always find something under the market value that apeals to local proffesionals as well as tourism this way you can under cut the competition on long term rentals and thats the best garunteed rental i know of, Pluse when it comes to resale you can under cut again and be the first to sell, It works in all the other over built places like spain.
    I would take a look at El Kawser Dreams if your still concerned about over supply
     
  10. vix

    vix New Member

    You may scoff, but in 1982 I caught the bus to Israel, well most of the way any way, as far as Athens. I simply stood at the bus stop, put my hand out and jumped on, kids in tow. It took 5 nites and 6 days and cost the grand sum of £64.00
     
  11. NeilHollingsworth

    NeilHollingsworth New Member

    Vix there was no scoffing from me, that sounds like a nightmare journey by the way.:eek:
     
  12. vix

    vix New Member

    Bit vague now, but I remember driving thro the former Yugoslavia and it was a bit story book ish. Found at on that trip that the most universal word in the world is Coca Cola !
     
  13. NeilHollingsworth

    NeilHollingsworth New Member

    Hi James interesting reply, i read his post as a general question about the area. Why would directing him to a certain development help with the question of oversupply of beds:confused:
     
  14. James Barnett

    James Barnett New Member

    well i presume by beds we mean property which indicates that jonothan is someone who plans to sell in the future probably for profit the rule I layed down works and so far that development is the only one i have found so far that meets the criteria. unless i have got the wrong end of the stick and hes thinking of opening a dreams bed franchise in hurghada
     
  15. NeilHollingsworth

    NeilHollingsworth New Member

    Very funny:D I like that one.
     
  16. James Barnett

    James Barnett New Member

    do you see a better exit stratergy niel
     
  17. NeilHollingsworth

    NeilHollingsworth New Member

    I was laughing at your Dreams Bedstore joke. Whatever you say on the other issue is fine by me, each to their own.
     
  18. James Barnett

    James Barnett New Member

    sorry i think your taking me the wrong way as is often the case with texts i know you wouldnt have laughed at my comment as it is fair but if you see things differently you should say thats after all why i use these forums to spit ball ideas and share information :)
     
  19. NeilHollingsworth

    NeilHollingsworth New Member

    Hi James, as i said in my first post, i think the Egyptian market has a few good years left yet and there will always be a market for completed properties as there are many who do not like investing in off plan and are prepared to pay more for completed properties. I do however feel the properties have to be bought as close to the frontline as possible or very close to a feature like a golf course.

    I don't know of the development you mentioned so i am not in a position to comment but if you say it is a good one then ok. I hope that clears up any mis-understandings, the forums are good to bounce ideas but also a place to enjoy and have some fun.
     
  20. Lsab

    Lsab New Member

    Just to but in and add my twopenneth (showing my age now ;)), why do we assume that buyers in the region are predominantly British/Irish. What about the Gulf, Russia and the rest of Europe. I think we came into the picture later than a lot of these other places.

    Hi James by the way! I was always putting my foot into it when I first started posting on the forum. I've found that the emoticons help!!!
     
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