There is no bubble; whats happening in Egypt is par for the course in a developing market. However what is evident are the attempts by some Developers to force prices per m2 higher with little justification. There is a development in the Sakkala end of the new touristic centre which is being launched at 700 GBP per m2, its not beachfront and its not even the closest to the strip and yet prices are double other comparable projects. Why? It makes no sense to me and I just hope that the public vote with their feet. Unfortunately there is a section of the community who think 'if its that cheap it can't be any good, we'd better buy the more expensive one'. Well best of luck! I just hope the luck hold out when it comes time to move it on....
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