Dave99 is right. The reason we are all excited about Hurghada is that all the signs are there for huge capital growth. We can't expect for the prices to hang around and wait for us all to buy something before prices start going up!
I notice that more and more developers are being upfront now about how prices are going to increase - telling buyers that they are going to increase by 10% every six months or whatever.
The situation in Hurghada is different from non-selling properties in the UK because the infrastructure is increasing around the properties at a fast rate.
For example, I have some beachfront villas and chalets (half villas) available in Al-Ahyaa. A client went out to see them and rejected them because he says that 'it was a ghost town in the middle of nowhere'.
This is true. Today.
But they are right slap-bang in the middle of the development zone there. Fast forward a couple of years and they will be surrounded by shopping malls, bars, restaurants, leisure facilities, etc.
They are at GBP400/m2 at the moment. I can't see any way that they are going to be worth less than GBP800/m2 in 24 months' time as the new developments around it are already up to GBP700 at the pre-release stage.
So the developers aren't going to be making any fire sales just yet.
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