Quote:
Originally Posted by flip
Propertastic would you invest in this resort if you had the funds?
Do you see this as a long term investment or something that you can make money on when its complete i.e do you think this can double in price when complete?
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Yes, I am very bullish about Regency Beach.
Why do I like this development so much?
Firstly I think it's quite a pretty looking development:
Secondly it's from the people who have already completed Regency Towers, which shows that the developers are able to deliver.
Thirdly, by the time the resort is opened, the area should have a fairly decent infrastructure in place - not as developed as the Touristic Center, but I think similar to where Hurghada's southern section is at the moment.
Fourthly, and most importantly, IT'S FIRSTLINE BEACHFRONT FROM GBP20,000!!!! Can anyone think of anywhere else within a reasonable distance of Europe where you can get frontline for that price. Libya? Lebanon? Even in Albania, which has no flights and no infrastructure (and often no electricity much of the time) prices are higher than that already!
There's certainly no question in my mind as to whether it's going up. The only question is by how much.
Whether the price can increase by 100% over the two years before completion is debatable - that would be a little over 40% per year, which is a little optimistic, I think, but isn't totally impossible if the media starts talking about it.
I'm not in the UK, so don't know what overseas property programs are running these days. But if 'A Place in the Sun' or one of the other mass-market shows did a programme on Egypt, then I think that prices would increase everywhere by 20% within the following 24 hours.
I think that 25% per annum on this development is quite realistic though, whatever happens.