Quote:
Originally Posted by dave99
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.
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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.