Regency Beach

[dunkan]

i was over in November for a week stayed in a hotel called 1001 nights big place with lots of entertainment there was even coach loads of people visiting from different hotels as had shows on every night and was only £120 for two allinclusive and all you can drink how can we compete with that

We can't !! the more i hear and read the more i think i just wont get anywhere near the return i thought Regency Beach would achieve.


Cheers for the info

Dunk

 

[Mark .Y.]

Hi Jayne,

I can afford to sit on it but that wasnt my intention for buying abroad, a bit of private use companied with good rental return and good capital growth is what im looking for, how many years down the rd before this happens is the big question, if it happens at all !!

Too many apartments like in Bulgaria, Spain, Portugal etc mean 1 thing, less occupancy, looks like the same will happen on the Red sea.


Dunk

Your last statement seems to me to be correct Dunk and you can also add Orlando (Florida) to that list.
Way, way too many apartments will be coming on stream to achieve good rental returns. If around 25% occupancy is acheivable in El Gouna I would suggest you can work on a figure somewhat lower than that for mainstream Hurgahda.
By all means buy in the hope of a capital gain but don't expect too much from rentals unless you are particularly good at marketing.

Mark .Y.

 

[dunkan]

Your last statement seems to me to be correct Dunk and you can also add Orlando (Florida) to that list.
Way, way too many apartments will be coming on stream to achieve good rental returns. If around 25% occupancy is acheivable in El Gouna I would suggest you can work on a figure somewhat lower than that for mainstream Hurgahda.
By all means buy in the hope of a capital gain but don't expect too much from rentals unless you are particularly good at marketing.

Mark .Y.

Thanks Mark

I looked at Florida and thankfully walked away from a property seminar here in the Midlands a few years ago, unlike a dear friend who bought out there and has had a handful of people rent it in over 2years !!! he's been treated very badly by a big agent who just doesnt return calls or emails.

I wonder what Regency Beach will be selling for when its complete ? now wheres that crystall ball when i need it


Dunk

 

[Randall]

Hi All

I feel that people who are now buying just for rental income to cover mortgages are too late.

Most people would love to purchase abroad have free holidays,regular monthly income,a property that rockets in value in a couple of years.

Unless you are a developer one can only guess the next Hot Spot to purchase in ...but remember when that destination gets known it will get flooded like everywhere else, its a gamble, there are no guarantee's.

At this moment with high interest rates, talk of a recession etc people will cut back on holidays.

Buy as an investment long term at present and you can't go wrong, as long as it is at the right price,and you can safely afford the upkeep without relying on renting.

 

[J4hurghada]

I thing that if you have to cash to play with and can afford to just leave it there in a property and not bother about it just pay the maintainance each year and have family holidays in it. after about 5 years you are very much quids in.

The price of my property has gone up alot in two years and is going up every year.

I don't feel getting in alot of debt for this is a good idea, like you say the interest rate too.

Unless you have a very small morgage and can really afford it, it would cost as much as a large conservatory on your property.

 

[J4hurghada]

I do disagree with buy to rent is too late, I would say the opposite it is too early.

 

[crombiestone]

i was over in November for a week stayed in a hotel called 1001 nights big place with lots of entertainment there was even coach loads of people visiting from different hotels as had shows on every night and was only £120 for two allinclusive and all you can drink how can we compete with that

You are right that it is very difficult to compete with prices like that . There are some ,however ,that do not go for All inclusive and are even prepared to pay a premium for self catering (Think James Villas cusomers ).

That said to be in with a fighting chance .I think that being a cut above the average is important and things like location,quality of finish ,furnishings ,nice surroundings and nearby amenities are important factors to being succesful in the rental game .

If you are only buying to enjoy the place yourself ,then prices are cheap so why not go for it ?

 

[Randall]

Hi

It is a catch 22. If you buy too early and rely on income to pay for your build you would then be hoping to rent a property still in a building site area.

If you buy later when the area is developed the prices are higher and you are competing with everyone else who have bought to let.

Just my thoughts

 

[J4hurghada]

Randall,

This is true, but think how much value if any nowadays will a conservatory put on your house.

But like I said earlier, if you can afford the outlay and sit on it then sell what a profit you will make, alot more than conservatory on your house.

 

[Randall]

Hi

I agree with you 100% thats why i said long term you can't go wrong.

Cheers

 

[J4hurghada]

come on crombiestone as you bought alot earlier than me how long did it take before you was not sitting on a building site.

I know your in El Gouna and what a lovly place that is, we have our dream home in the middle of a building site, but saying that it is ace when we go, there is always another building going up.

 

[crombiestone]

come on crombiestone as you bought alot earlier than me how long did it take before you was not sitting on a building site.

I know your in El Gouna and what a lovly place that is, we have our dream home in the middle of a building site, but saying that it is ace when we go, there is always another building going up.

We were not the first in our complex but I would say from first person moving in to total completion of the complex was about 8 Months .

Of course Orascom then decided to expand the compound so building work has started at the back of our complex to make a new lagoon . The villas are now just about built but they will no doubt expand somewhere else . Its the price of progress at least because of the lagoons you do not feel like the new developments are on top of you .

 

[dunkan]

Im buying with cash so no mortgage which makes it a lot easier but it would be nice if my apartment could pay its way and give me a return in income and c/gain, im just greedy

Oh and a have a month out there chilling out

 

[dunkan]

Ive just recieved my reservation confirmation and it says ive got allocation no 4 !

I wonder how many have been reserved off plan ? it doesn't sound like many have been if ive got no 4 and only just reserved it before the price increase ?

I was also dealing with rightmove abroad and now get an email from property hotspots saying all my payments to go to them.

No proper answers to my questions from rightmove and now im dealing with property hotspots !!

I shall be going to see them as they have an office in my location and get some answers to my questions.

Dunk

 

[realestatemart]

thatisa correct move to do hope they will give you the info you need

 

[dunkan]

thatisa correct move to do hope they will give you the info you need

Im sure they'll give me answers to my questions but with the info im finding out im not sure i'll be going ahead as this possibly isnt the right investment for me.

I know its all a risk where ever you buy if your looking for rental income as i own several shops which i let out, im begining to think that like so many other countries the area will be over developed and lots of rental accomodation will remain empty for long periods.

I'd like honest opinions on a comment in an email to me today.

Emailed me after hearing that im looking at buying in Hurghada, he and his family stayed at Sharm El sheikh 18 months ago and to quote " he wouldnt go back if you paid him too "

Shan't quote the rest but it doesnt sound great.

Dunk

 

[propertastic]

Emailed me after hearing that im looking at buying in Hurghada, he and his family stayed at Sharm El sheikh 18 months ago and to quote " he wouldnt go back if you paid him too "

Shan't quote the rest but it doesnt sound great.

Dunk

Egypt is certainly not to everyone's tastes - just like everywhere else.

Which is why I, and many, many others, keep saying that potential buyers really need to come over and check it out for themselves before making any commitments.

 

[lyndsay552]

Hi Dunk,

Just a suggestion - would you be better going for a smaller apartment in Regency Beach and investing in another development as well? It's a way of spreading the risk and overall you may get a better return

Lyndsay

 

[J4hurghada]

without going out and having a look at egypt you will not know weither you will like it, remembering some people love spain, some England holidays. Everyone is diferent so use your own mind and check it out first.
The prices won't go up over night like the flights do, but they are going up fast, also going out gives you more of an idea as what is on offer.

 

[J4hurghada]

I have also had 2 holidays in Sharm and found the hotels wonderful. but ended up buying in Hurghada.