Quote:
Originally Posted by yield
Hi Nick, thanks for the reply I also pm Peter who also replied.
But what about all the romours made against Property Hotspots, whats your view on this side of the story? or was it someone just having a dig at them?
When will building start? have they regersterd the land yet.
Thanks for the replies.
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I had only been in Hurghada for 48 hours before I realized what a hotbed of gossip it was. This was before I ever got into the business even - when I was just making the initial research for the book. Everyone I spoke to was badmouthing the competition, developers badmouthing lawyers, lawyers badmouthing developers, etc.
I can honestly say that not a week passes without some new rumours being spread around town, the majority of which have no foundations to them at all. I have noticed that, whoever is doing the best at any one particular time seems to be the subject of most of the attempts to knock them back down.
We have investigated all of the rumours. But they just don't make a lot of sense to me.
Doesn't anyone else find it ironic that the two main items of concern are completely contradictory?
1. Some people are nervous because of the malicious rumours about the developer's improper conduct.
2. Some people are nervous because they want to pay their deposits and the developer won't take them until all of the necessary documentation is in place.
Very few developers in Egypt offer the security to buyers of having all of the finances going through a UK-based lawyer who is a member of the UK Law Society. This should give buyers a great deal more confidence than if they were asked to send funds directly to a developer.
Someone obviously has an axe to grind - the fact that whoever it is wants to remain anonymous tells me that there are not sufficient grounds for them to make these claims publically.