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Part Finished Apartments in Hurghada - is there a market ???

Discussion in 'Egypt property' started by dave99, Dec 26, 2008.

  1. dave99

    dave99 New Member

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    Part Finished Apartments in Hurghada - where are they hiding ???
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    I have seen lots of totally UNFINISHED, and Fully finished apartments for sale in Hurghada, but does anyone beleive that there is a market for something in between.

    There must be lots of part finished units out there waiting for buyers before they get completed.

    Are there any builders / carpenters etc who would like the chance to do their own quality of finishing in bathrooms / kitchens / bedrooms etc, either for own use or for selling on.

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  2. siliconechip

    siliconechip New Member

    Hi there,
    This is the first time that I have been on here. Does anybody know how the Regency Continental 2 appartments are doing? I have purchased one. They are supposedly finished in 3 days' time.
    Cath
     
  3. HORIZON

    HORIZON New Member

    Hi Nigel,

    What do you mean by in between?

    If the apartment is not finished, so by idea there is no diferrence if it is brickstage or partly cemented... I genuinly believe there is a market for unfinished apartments in general, as there are people who really want to finish according to there own taste, others believe it is cheaper, but of course it depends on quality. For example we do finishing for EGP 850 per sqm (like it is attached in the picture) and then the client just evaluates if it is worth to go for it.

    Actually I know people do business by buying worn out apartments cheap, refurbishing and selling for more.

    The problem is that there is oversupply of unfinished apartments, also purchasers do not want all the noise around from unfinished apartments - where is the guarantee that some of the purchasers will ever finish before reselling and then of course the value of the building itself is dropping.

    In this case the builder should take into account the clause of required period to finish the apartment for the purchaser I would say.

    Also the market for unfinished apartments has diminished during the year, as some investors substituted for off plan projects with financial plan.
     

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  4. dave99

    dave99 New Member

    In between - finished and unfinished

    Part finished in the way I describe above is an apartment that has almost everything already completed EXCEPT for those things that help to make the place a little more personal, both from a style point of view and quality and quantity.
    For example:number and type of Kitchen base units / extra wall units / worktop / breakfast bar or open kitchen / with or without a cooker or washing machine / fitting a bath or a shower / bedroom wardobes built-in or not. With or without air con in all rooms.
    All the really expensive basic things are already fully complete so the extra work is not that much.
     
  5. HORIZON

    HORIZON New Member

    Well, Nigel, I dont think they differentiate here like that: the way you describe, here is called finished, as long as they have walls painted, ceramic on the floor, windows and doors.
     
  6. dave99

    dave99 New Member

    Opinions on a postcard I think !

    Maybe finished for Egypt but there's no way that I would want to be claiming that this is finished to anyone I know.

     
  7. NeilHollingsworth

    NeilHollingsworth New Member

    Hi Cath, i saw the Regency Continental apartments last week and they are looking very good but no finished yet, Andy said he wants to get them finished by the end of Jan. I like the use of curved walls and glass bricks very modern.
     
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