L
Lsab
New Member
Hi Stuart - welcome back! Did you buy the properties on this visit? Which developments did you buy in? Any photos? 
The reason I buy in Resort Communities, such as El Gouna, Sahl Hasheesh etc.
L
Lsab
New Member
Well done - Palm Beach Piazza was our first choice but we just couldn't get the finance sorted out.
realestatemart
Banned
congratulation sturat sh you all the best
Georgina
New Member
Life in El Gouna
Just to add a few of my thoughts having lived in El Gouna for nearly five years.
My aim was to purchase a property that felt totally different to anything in Europe. I wanted to feel like I was in Egypt when I close the doors so buying my Nubian style apartment with domed ceilings, arches and stunning views over the lagoons, mountain and sea delivered this.
I also wanted to live somewhere that I could walk everywhere. The roads in Egypt scare me so much because of the standard of driving. And also because of the Europeans full of alcohol! In El Gouna I can walk just about everywhere and catch a shuttle bus if I want to go from one end to the other. Even in El Gouna there are many accidents but in Egypt I think the figures are 8,000 deaths per year on the roads.
I love to swim in the lagoons. I hate swimming pools.
The sea view rooms at the Sheraton were being refurbished when I visited the hairdresser recently and they were dredging the lagoon too.
El Gouna is getting busier and less quieter with the marina parties now every Friday and Monday and more venues open to dance until sunrise!
Because El Gouna is growing so fast and a lot of people have bought as an investment there are more and more resales available. Some are asking way too much money and have therefore had their properties up for sale for a long time, especially if they are on the edges of El Gouna or don't have any views from their windows. A bargain could be had if you contact the buyer direct. There is a Group on Yahoo for El Gouna you could join and ask for details or search the forum for property for sale. Orascom would obviously prefer to sell you a new property than one they have already sold.
Whether buying in Egypt is an investment or not I really don't know. It's Egypt. We don't have the standards as in Europe. All I know is that I chose my apartment as a home to live in and hopefully will never have to sell. Prices go down as well as up. I have owned property in the UK for 20 years and look what is happening there now. I am sure it will have a knock on effect here if it is mainly Brits buying on the Red Sea? And you can say your property is worth what ever you like but it is only worth what you actually sell it for as a few people in El Gouna are finding out.
For me it certainly is "Life As It Should Be' and I know I am very, very lucky
Just to add a few of my thoughts having lived in El Gouna for nearly five years.
My aim was to purchase a property that felt totally different to anything in Europe. I wanted to feel like I was in Egypt when I close the doors so buying my Nubian style apartment with domed ceilings, arches and stunning views over the lagoons, mountain and sea delivered this.
I also wanted to live somewhere that I could walk everywhere. The roads in Egypt scare me so much because of the standard of driving. And also because of the Europeans full of alcohol! In El Gouna I can walk just about everywhere and catch a shuttle bus if I want to go from one end to the other. Even in El Gouna there are many accidents but in Egypt I think the figures are 8,000 deaths per year on the roads.
I love to swim in the lagoons. I hate swimming pools.
The sea view rooms at the Sheraton were being refurbished when I visited the hairdresser recently and they were dredging the lagoon too.
El Gouna is getting busier and less quieter with the marina parties now every Friday and Monday and more venues open to dance until sunrise!
Because El Gouna is growing so fast and a lot of people have bought as an investment there are more and more resales available. Some are asking way too much money and have therefore had their properties up for sale for a long time, especially if they are on the edges of El Gouna or don't have any views from their windows. A bargain could be had if you contact the buyer direct. There is a Group on Yahoo for El Gouna you could join and ask for details or search the forum for property for sale. Orascom would obviously prefer to sell you a new property than one they have already sold.
Whether buying in Egypt is an investment or not I really don't know. It's Egypt. We don't have the standards as in Europe. All I know is that I chose my apartment as a home to live in and hopefully will never have to sell. Prices go down as well as up. I have owned property in the UK for 20 years and look what is happening there now. I am sure it will have a knock on effect here if it is mainly Brits buying on the Red Sea? And you can say your property is worth what ever you like but it is only worth what you actually sell it for as a few people in El Gouna are finding out.
For me it certainly is "Life As It Should Be' and I know I am very, very lucky
realestatemart
Banned
What an amazing experince Georgina to share with usJust to add a few of my thoughts having lived in El Gouna for nearly five years.
My aim was to purchase a property that felt totally different to anything in Europe. I wanted to feel like I was in Egypt when I close the doors so buying my Nubian style apartment with domed ceilings, arches and stunning views over the lagoons, mountain and sea delivered this.
I also wanted to live somewhere that I could walk everywhere. The roads in Egypt scare me so much because of the standard of driving. And also because of the Europeans full of alcohol! In El Gouna I can walk just about everywhere and catch a shuttle bus if I want to go from one end to the other. Even in El Gouna there are many accidents but in Egypt I think the figures are 8,000 deaths per year on the roads.
I love to swim in the lagoons. I hate swimming pools.
The sea view rooms at the Sheraton were being refurbished when I visited the hairdresser recently and they were dredging the lagoon too.
El Gouna is getting busier and less quieter with the marina parties now every Friday and Monday and more venues open to dance until sunrise!
Because El Gouna is growing so fast and a lot of people have bought as an investment there are more and more resales available. Some are asking way too much money and have therefore had their properties up for sale for a long time, especially if they are on the edges of El Gouna or don't have any views from their windows. A bargain could be had if you contact the buyer direct. There is a Group on Yahoo for El Gouna you could join and ask for details or search the forum for property for sale. Orascom would obviously prefer to sell you a new property than one they have already sold.
Whether buying in Egypt is an investment or not I really don't know. It's Egypt. We don't have the standards as in Europe. All I know is that I chose my apartment as a home to live in and hopefully will never have to sell. Prices go down as well as up. I have owned property in the UK for 20 years and look what is happening there now. I am sure it will have a knock on effect here if it is mainly Brits buying on the Red Sea? And you can say your property is worth what ever you like but it is only worth what you actually sell it for as a few people in El Gouna are finding out.
For me it certainly is "Life As It Should Be' and I know I am very, very lucky
its realy nice from youRegards
George
T
The Smart Money
New Member
Stuart,
I am contemplating investing in sahl (in particular veranda) do you have any advice? i.e. the reasoning behind your particular choices etc.
Im trying to do my own due diligence but sourcing non-vested information or recommendations is proving difficult.
any advice will be much appreciated.
regards
Steve
wemyss1960
New Member
Sahl Hasheesh
Hi Steve,
I think I was lucky with the timing of my purchases. PBP is frontline so it was a no brainer
Sahl Hasheesh is still work in progress so there is still plenty of growth to be had.
my suggestions:
Haggle for a discount regardless, whether you are using an agent or dealing direct.
Try to haggle on maintenance fees and get them capped if poss.
Use a multi tie agent,it wont cost you anymore as they can haggle on your behalf.
Dont rely on rental income.
Check the masterplan for any neighbouring developments as what is on offer now (views etc) may not be the same in a years time
Property prices can go down,not just up.
Have an exit strategy.
Feel free to call me anytime for a chat.
Enjoy the sun!
Hi Steve,
I think I was lucky with the timing of my purchases. PBP is frontline so it was a no brainer
Sahl Hasheesh is still work in progress so there is still plenty of growth to be had.
my suggestions:
Haggle for a discount regardless, whether you are using an agent or dealing direct.
Try to haggle on maintenance fees and get them capped if poss.
Use a multi tie agent,it wont cost you anymore as they can haggle on your behalf.
Dont rely on rental income.
Check the masterplan for any neighbouring developments as what is on offer now (views etc) may not be the same in a years time
Property prices can go down,not just up.
Have an exit strategy.
Feel free to call me anytime for a chat.
Enjoy the sun!
queenie40something
Senior Member
Great advise Stuart for potential investors - thanks.
Peter Mitry
<B>Egypt Forum Founder Member</B>
Make no mistake about it; Sahl Hasheesh is an amazing place and in five years time investors who got in early like myself and Stuart will be very glad that they did. Every new hotel that opens, every new project that completes and every new retail business which opens up will add value.
Isn't that what investing is all about? Getting in early in a project like SH and waiting for the Planners and Developers to do their work. You don't invest in a project like this for the short term; so forget rental income for a couple of years. If it comes it will be a bonus.
The reason you are there is for the Medium to Long term and you can expect your property prices to double in 3 years and maybe triple in five years. Isn't that worth waiting for? How many times have you read on this forum people say 'I wish I had got into El Gouna two years earlier, I could have bought a villa instead of a one bed'. These are sentiments you will hear expressed many times in property investment and you know what? It's true.
Isn't that what investing is all about? Getting in early in a project like SH and waiting for the Planners and Developers to do their work. You don't invest in a project like this for the short term; so forget rental income for a couple of years. If it comes it will be a bonus.
The reason you are there is for the Medium to Long term and you can expect your property prices to double in 3 years and maybe triple in five years. Isn't that worth waiting for? How many times have you read on this forum people say 'I wish I had got into El Gouna two years earlier, I could have bought a villa instead of a one bed'. These are sentiments you will hear expressed many times in property investment and you know what? It's true.
Georgina
New Member
Ok welcome back to the real world. There are unhappy people in El Gouna too. And people that are unable to sell to get out but they are the exception.
realestatemart
Banned
Hi Georgina
if you know people want to sell can you tell us as sometimes people ask us about any thing available for sale there
Last edited by a moderator:
J
Jeremy Sturgess
New Member
I agree that people should be looking medium to long term. 25% compound growth per annum (which is what your post above predicts) is the most bullish prediction ive ever heard. Investment heaven. You seem very certain. I hope you are right !
That means those appartments people are buying now for $1800 psm will be worth $5500 psm in 5 years time.
Peter Mitry
<B>Egypt Forum Founder Member</B>
My first investment in Sahl Hasheesh was a one bed in Palm Beach bought for 29,000 GBP and sold after 17 months for 59,000 GBP. Thats 103% in 17 months. I just believe that in the big resorts where so much of what is happening is adding value, added to the fact that you are absolutely front line when all around you is sold out can and will continue to reap these high returns.
D
Diaa Behairy
New Member
All over the world, developers are busy converting & building one of the hottest concepts in the lodging and real estate industries - condominium hotels. In almost all cases these complexes typically include a hotel, residential units for sale, office space and retail stores. In my opinion, there are 4 main strategic reasons for this phenomenon.
Luxury
Luxury condo living now is in strong demand across the whole world. Those condos fulfill certain criteria for top notch buyers and renters; high quality lifestyle, stunning views, top-notch locations, and world class amenities.
Safety & Security
Without question, safety issues have changed forever. The need for greater building safety was being countered by the demand from residents and tenants that their properties be easily accessible, or have low level safety standards. The demand for a minimum level of safety, a 24-hour monitored security and security staff is not any more a privilege, it is now a must.
Exclusive
There is no question about it: we are willing to ante up more money for an exclusive luxury condominium that provides us with our own state of the art amenities. Exclusive is important because we are renting & buying into a lifestyle that we feel it is unique and private, and the exclusive luxury is an extension of that lifestyle.
Professional
We prefer to be satisfied and pampered and feel that our needs are on the top of “Top Priority” and differentiation. We need to have an in-house all up-to-date professional facilities and services, whether it a professional property management services or concierge services.
Luxury
Luxury condo living now is in strong demand across the whole world. Those condos fulfill certain criteria for top notch buyers and renters; high quality lifestyle, stunning views, top-notch locations, and world class amenities.
Safety & Security
Without question, safety issues have changed forever. The need for greater building safety was being countered by the demand from residents and tenants that their properties be easily accessible, or have low level safety standards. The demand for a minimum level of safety, a 24-hour monitored security and security staff is not any more a privilege, it is now a must.
Exclusive
There is no question about it: we are willing to ante up more money for an exclusive luxury condominium that provides us with our own state of the art amenities. Exclusive is important because we are renting & buying into a lifestyle that we feel it is unique and private, and the exclusive luxury is an extension of that lifestyle.
Professional
We prefer to be satisfied and pampered and feel that our needs are on the top of “Top Priority” and differentiation. We need to have an in-house all up-to-date professional facilities and services, whether it a professional property management services or concierge services.
N
naty651
New Member
rent flat in el gouna
hi i dont know if you can help me as i am looking for rent a studio or a 1 bedroom flat from 15 or end april 2011 for one or 2 months as i will go there to search job as i lost mine in Cairo kindly let me know if you somebody who is ready to give a good rate and accept if it is possible local monnay. thanks a lot for your precious help
Hi everyone,
To those not sure of whether to pay extra and buy in a resort community such as El Gouna, Sahl Hasheesh, Gamsha Bay etc etc, just thought I'd mention some reasons why I'm so glad I did! Obviously you will pay more for the privilege but if you can afford it I feel its worth it!
My comments refer to El Gouna - I realise other resort communities may run slightly differently - but these may be some things to bear in mind when purchasing:
1. LOVE IT WHEN WE HAVE JOBS TO BE DONE!!
In El Gouna it is a sheer pleasure if things go wrong, or you need work doing on your property! Be it plumber, electrician, carpenter you just need to make a free phone call. Then generally the same day (depending on urgency),they send someone round to give you a handwritten quote, and if you agree, then the work is carried out by the team they send round which is always very quick! In the UK I am filled with fear if we need a plumber - never can get one!!!
2. THE PRICE OF MAINTENANCE JOBS!!
The work is done efficiently and so cheap!!! We had a window replaced, a security lock installed (which they went to Hurghada to shop for),and all electric sockets replaced plus other minor jobs and the bill - around £30 (a couple of years ago).
3. FREE PHONE CALLS WITHIN EL GOUNA
4. EXCELLENT TRANSPORT SYSTEM - very cheap and easy to get around
5. MOZZIE SPRAYING throughout the resort, so that you don't have to worry about being bitten to death!
6. OWNER DISCOUNT - Varying discounts at shops, bars, restaurants and leisure facilities for owners. Access to most resort hotels beaches/pools at very reasonable prices or in some cases free.
7. SIMPLE TO PAY UTILITY BILLS - They provide utilities so this saves you having to deal with Egyptian companies. Bills for water and electic come every month and you can pay them when you arrive, at the office provided. Indeed some people have been known not to pay for a couple of years, and just settle when they finally go there again. Mind you they seem to be cracking down on this now!
8. EXCELLENT HEALTH CARE AND EMERGENCY SERVICES IN RESORT
9. GENTLE INTRODUCTION TO PROPERTY OWNING IN EGYPT! Its a bit like a European Resort, but with the exotic touch, for those that aren't quite brave enough to venture into the "real" thing
10. EVERYTHING POSSIBLE ON SITE - If you don't want to leave there is everything on hand, so you can have to venture out if you don't want to.
11. FRIENDLY PEOPLE - A growing number of expats are starting business there and making it their permanent home. Its a bit like "going home" as you start to make loads of new friends and there's a lovely community spirit.
12. FABULOUS FACILITIES - We can walk to both a stunning marina with its fabulous restaurants or Downtown with more restaurants/shops and its more "authentic" feel
13. GROWING PROPERTY PRICES - An excellent return on investment has been made, certainly by those who purchased in the early days. My friend paid £26,000 (in 2003 I think) for her apartment and was offered £100,000 recently!!
14. ONSITE MANAGEMENT AGENCIES - For those wishing to rent out their properties, their is an excellent choice of companies throughout the resort who will deal with every aspect of management for you including collecting visitors from the airport, check in/check out, laundry, shopping, advertising - so you can just sit back and enjoy your investment!!![/QUOTE]
hi i dont know if you can help me as i am looking for rent a studio or a 1 bedroom flat from 15 or end april 2011 for one or 2 months as i will go there to search job as i lost mine in Cairo kindly let me know if you somebody who is ready to give a good rate and accept if it is possible local monnay. thanks a lot for your precious help
Hi everyone,
To those not sure of whether to pay extra and buy in a resort community such as El Gouna, Sahl Hasheesh, Gamsha Bay etc etc, just thought I'd mention some reasons why I'm so glad I did! Obviously you will pay more for the privilege but if you can afford it I feel its worth it!
My comments refer to El Gouna - I realise other resort communities may run slightly differently - but these may be some things to bear in mind when purchasing:
1. LOVE IT WHEN WE HAVE JOBS TO BE DONE!!
In El Gouna it is a sheer pleasure if things go wrong, or you need work doing on your property! Be it plumber, electrician, carpenter you just need to make a free phone call. Then generally the same day (depending on urgency),they send someone round to give you a handwritten quote, and if you agree, then the work is carried out by the team they send round which is always very quick! In the UK I am filled with fear if we need a plumber - never can get one!!!
2. THE PRICE OF MAINTENANCE JOBS!!
The work is done efficiently and so cheap!!! We had a window replaced, a security lock installed (which they went to Hurghada to shop for),and all electric sockets replaced plus other minor jobs and the bill - around £30 (a couple of years ago).
3. FREE PHONE CALLS WITHIN EL GOUNA
4. EXCELLENT TRANSPORT SYSTEM - very cheap and easy to get around
5. MOZZIE SPRAYING throughout the resort, so that you don't have to worry about being bitten to death!
6. OWNER DISCOUNT - Varying discounts at shops, bars, restaurants and leisure facilities for owners. Access to most resort hotels beaches/pools at very reasonable prices or in some cases free.
7. SIMPLE TO PAY UTILITY BILLS - They provide utilities so this saves you having to deal with Egyptian companies. Bills for water and electic come every month and you can pay them when you arrive, at the office provided. Indeed some people have been known not to pay for a couple of years, and just settle when they finally go there again. Mind you they seem to be cracking down on this now!
8. EXCELLENT HEALTH CARE AND EMERGENCY SERVICES IN RESORT
9. GENTLE INTRODUCTION TO PROPERTY OWNING IN EGYPT! Its a bit like a European Resort, but with the exotic touch, for those that aren't quite brave enough to venture into the "real" thing
10. EVERYTHING POSSIBLE ON SITE - If you don't want to leave there is everything on hand, so you can have to venture out if you don't want to.
11. FRIENDLY PEOPLE - A growing number of expats are starting business there and making it their permanent home. Its a bit like "going home" as you start to make loads of new friends and there's a lovely community spirit.
12. FABULOUS FACILITIES - We can walk to both a stunning marina with its fabulous restaurants or Downtown with more restaurants/shops and its more "authentic" feel
13. GROWING PROPERTY PRICES - An excellent return on investment has been made, certainly by those who purchased in the early days. My friend paid £26,000 (in 2003 I think) for her apartment and was offered £100,000 recently!!
14. ONSITE MANAGEMENT AGENCIES - For those wishing to rent out their properties, their is an excellent choice of companies throughout the resort who will deal with every aspect of management for you including collecting visitors from the airport, check in/check out, laundry, shopping, advertising - so you can just sit back and enjoy your investment!!![/QUOTE]
