Thread Status:
Not open for further replies.

why is egypt a better choice for investement

Discussion in 'Egypt property' started by alison9071, Apr 28, 2007.

  1. alison9071

    alison9071 New Member

    ]Egypt is fast becoming a property hotspot and an investors dream the potential for investment coupled with the advatages Egypt has to offer on a whole is unmatched not only are you guaranteed 365 days of sunshine amazing and quite possibly some of the best diving in the world you have the heratige and history of a country that dates back 5000 years with the pyramids of giza the temples in luxor, saint cathrines monestry and a unlimited amount of beach resorts to say the least
    Eygpt in paticular hurghada has a lot to offer 20 kilomoters north you have sahl hasheesh and i am sure that you have heard nothing but great things about this resort and rightly so it really is amazing i live and work in hurghada and have recently being there and the progress is unbeliviable i sometimes think elfs must have viisted at night if you have bought there you really wont be dissapointed it is magnificient another 20 kilometers south of hurghada you will find elgouna a fully finished resort on the scale of sahl hasheesh with 2 golf courses 2 marinas and several 5 star hotels so for any one wishing to visit any of theese resorts they would fly into hurghada airport. In hurghada you will find a real mix of the old and new with sakala being the old down town with lots of bazars and markets not some where that you would want to invest in though the new part of hurghada el quiser on the other hand has had millions of pounds invested in it and with 2 aqua parks several 5 star hotels and mass development this is a great area for families and has excellant potentail for rentals ,if you were interested in investing but with smaller amounts than you would need for sahl hashees or elgouna this really is the ground floor with many european developers building here and now for example a 2 bed 2 bathroom apartment minutes from the beach and in the main touristic area at 100 sq. meteres finished to a very high standard with marble bathrooms and granite in the kitchens for £30k with a rental return of around 300 euros per week
    hurghada is also the home to ministry of sound and head khandi theese are very well established night life venues known all over the world and bring many young people to hurghada with a good income who come to dive in the day and party at night
    In between hurghada and elgouna is the golden mile of hurghada with the best beach for miles around , developers are building there now with truly wonderfull developments there is a new govenor of hurghada who is very touritically driven and has implemented some strict guidlines THANK GOD the properties here are all on the beach all with sea veiws and finished to 5 star quality there are also 5 star hotels and diving centres being built here the property here has more than doubled in some cases 3x in value over the last 18 months mainly beacuase of the amazing colours of the ocean and quality of beach married with the value for money and all the local ammentities and facillities on offer for example a 97 sq.meter 1 bed 1 bathroom apartment on the beach finished with granite kitchen and bathroom sells for £50k but theses are almost finished off plan is also available here with a rental return of 400 euros per week
    these are only some of the reasons why i think hurghada is good for investment i could go on and on
    As live and work here with my family both my daughters go to an internatinol school here i am well placed to give any advice needed if you are thinking of visiting and would like some advice on where to stay what to see etc.. please just ask i would be happy to help
    best wishes alison
     
  2. yield

    yield New Member

    £50k in Egypt is to much?

    [QUOTE=
    for example a 97 sq.meter 1 bed 1 bathroom apartment on the beach finished with granite kitchen and bathroom sells for £50k

    I am sorry but £50k for a 1bed beachfront is miles to expensive for Egypt. How much would a beacfront property and I mean beachfront 2 bed apartment cost off plan?
     
  3. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    A front line beach two bedroom apartment in a resort like Sahl Hasheesh would cost from 100k GBP upwards.
    When you say that 50k GBP for a one bed is far too expensive you have to consider who will be buying these units. Most purchasers will be Northern Europeans looking for an entirely trouble free Five Star holiday experience with the option to let their property to other like minded tourists and the possibility of selling at some time in the future for a profit. Sahl Hasheesh fulfils all of these requirements and more.
    You could buy a two bedroom flat in nearby Hurghada for 15k GBP but it will have no private beach, no facilities for holidaymakers in the immediate vicinity and you will get constantly hassled by street vendors the minute you step outside your door. Oh, and it may also be illegally built....
    As we all know, in this life you get what you pay for!
     
  4. alison9071

    alison9071 New Member

    hi ok i think that is all relative to the area facilities etc.. if you only want to spend 10k then of course you would be niave to expect 5 star for that but the apartments i am talking about are nearly 100 sq. meters if you include the terrace we have sold to mainly english and europeans, danish , polish and german the quality is excellant and they are directly on the beach you walk out your apartment and you are on the beach with heated pools resturants diving centre childrens paly area security laundry hausekeepng theese will be finished in september there is phase 2 and the answer to your question a 2 bed directly on the beach off plan would cost you £75k the payment plan for theese are 25 % deposit 25% after 6 months 25% after 12 months and the balance on delivery
    we have sold almost all of the apartments and have not yet launched phase 2 and the area and facilities dictate the price you really do get what you pay for this is why places like sahl hasheesh can sell for the prices that they do becuase you get what you pay for
     
  5. dave99

    dave99 New Member

    Have to agree with "Yield" that £50K does sound a bit steep for a 1 bedroom. I can see there is lots of added value to the resort covered but it does not seem to give "best value" compared to other places around Hurghada.
    You certainly do NOT get what you pay for in some of the more "upmarket" developments, but it has to be said some people never really understand the term value for money, otherwise why would anyone ever buy a luxury car costing twice the price of a VW for example.
     
  6. alison9071

    alison9071 New Member

    50k for a 100 square meter apartment on the beach front line in a 5 star resort with all the facillities you could expect from a 5 star hotel including marina diving centre 10 minutes from elgouna is exspenive to what compared with the rest of hurghada it is very reasonably priced but if you want to buy something in a built up area where you can phisically touch the apartment block next you , where all you hear is car horns all through the night and loud music keeping in mind that just becuase it is cheap does not mean it will be a good investment becuase you will never be able to rent it out and you will never sell it it will just be a false economy however you can get a very good 100 square meter apartment with 2 bedrooms and 2 bathrooms for 30k but not on the beach in the touristic centre the term value for money applies to the person who is spending the money people have differant requirments and needs some people like to drive exspensive cars its there money but some prefere something not so expensive and maybe if it breaks down the parts will be very expensive it is always a good idea to look at the bigger picture or a least do your home work and find out exactly what 50 k will get you you can but in mubark 6/7 for 60k this is not on the beach and the facillities for water electric can be so bad that you can not stay there so in my opinion 50k for this is reasonablly priced ok its not cheap but if you want to rent or sell it then it will of course be a good investment you can see pictures of this resort at property hotspots worldwide
    thank you alison
     
  7. dave99

    dave99 New Member

    One opinion versus another

    Hi everyone

    As as been said many times - something is only worth what it can be sold for, and in and around Hurghada people will pay much more if they are "sold" the various features that they are told that they "need".

    It's taken me about 9 months to get a more realistic view of Hurghada and the surrounding areas, and it is very true parts of the town are really horrible, but then that's the same in London, New York, Paris etc.
    The real problem is that there are so many very different parts of Hurghada being developed that no one can be sure about re-sale values so it is purley one opinion versus another. There is virtually no re-sale market yet to prove anything, especially in the luxury, expensive end of the market in Sahl Hasheesh. There is certainly no big queue of people willing to pay £500 a week to rent anything.
     
  8. delboy

    delboy New Member

    alison is definately right when she sayes you get what you pay for. i mean some of the areas in hurghada are hardly even worth paying 15000 for they may have a great seaview but the actual area they may be in is miles away from any kind of taxi or bus route, not the golden mile,towards the old town where the reclaimed army lands are. not where i would be putting my money
     
  9. awahee123

    awahee123 Banned

    Egypt is simply better because of the value you can get compared to other sunny european destinations,apart from eastern europe where winter is winter is there any other place where you can get aparts from £30,000?. Dont forget in Egypt their winter is our summer in the uk.
     
  10. propertywatch1

    propertywatch1 <b>Official Photographer</b>

    The question here regarding property prices is not just their location but the quality of their finishing.
    I have recently veiwed an apartment complex built by an English developer(as advertised)who sell primarily to the English market and the finishing was absolutely dire..even by Egyptian standards its bad.
    Badly fitting windows,door frames that are not square,badly tiled floos and walls.
    The guy who purchased it is pulling his hair out.....nothing is getting done.
    He bought it as a rental investment and the completion date has gone from AUG/SEPT 2007 to its anyones guess when it will be finished.
    There are hardly any finished apartments...most have not got floors finished.
    I feel sorry for those back in the UK who are being told that they will be finished soon.
    There is no way they will be finished this side of Christmas.
    So people who are investing in Hurghada please be aware not only is the location important but the quality of finishing and ALSO the completion date if you are buying as a rental investment.



    Ex-Boltonian living in Hurghada
     
  11. dave99

    dave99 New Member

    So which development is it


    It would be very helpful to everyone to quote the actual development name please - that would make you post really valuable, otherwise it is just another "story" that will cause the wrong impression of other developers

    - you have to name and shame with confidence, and let anyone who has an interest respond.

    ...
     
  12. Jeremy Sturgess

    Jeremy Sturgess New Member

    You are right Dave. imho the only place where there is an active resale and lettings market at the top end is in El Gouna itself and thats largely because you have both strong local and international demand and the place is already established and fashionable. Everywhere else has still got the growing pains of early adolescence to go through before we can see how they turn out.
     
Loading...
Thread Status:
Not open for further replies.

Share This Page