Hi everyone,
Well we bought a resale, so the market does exisit!!! We didn't want to wait 2 years for the build time in El Gouna, so puchased a small apartment over 2 years ago now. The owner made a massive profit, about 3 times more than what he paid a few years earlier I think. But of course, he was staying in El Gouna, so obviously everything else had gone up accordingly, but if he'd been an investor I guess he would have been very happy with that.
Also I know someone that has bought a flipped apartment in Sahl Hasheesh already. The original owner made a handsome profit through getting in at the very beginning and just holding it for several months.
If you want to make money the key is to get in on release and take your chances. I learnt the hard way - if I'd bought in El Gouna in 2001, we could have afforded a detached 3 bedroom lagoon front villa, but a few years later our budget could only run to a small 1 bed apartment! Thats why when I heard about Sahl Hasheesh, we bought site unseen, as I was convinced it would be a brilliant development. If you do your homework thoroughly and go for the best apartment in the nicest development you can afford, I'm pretty sure there will be good money to be made over time.
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