02-09-2008, 01:04 PM
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Quote:
Originally Posted by Liz
Hello, I'm Liz. Have put a deposit on a one bedder at MABR. Having just watched a TV programme about the dire state of the airline industry and the fact that they are ceasing to run many flights around the world has given me great cause for concern. Is anyone else worried. I am contemplating pulling out as I have no rental guarantee to fall back on and wonder if there will be many holiday makers at all now that the age of cheap flights is over.
I'd love to hear from anyone with any advice. Apart from Thomson and Thomas Cook (I think) I am not sure how many airlines fly to Marsa Alam. But these could all be cut at any time. Hope to hear from someone before I pull out.
Liz
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Hi Liz and welcome to this forum. I've bought an off-plan apartment in the Hurghada region with guaranteed rental for 5 years. I agree, the situation with flights and the looming recession is cause for concern, however I still feel in the long-term our investment will pay off. As you are not dependant on rental income, and if you're prepared to wait for capital growth, I'm sure you will benefit from the fruits of your investment in the future. But, ofcourse, we have to play the waiting game. We have gone through recessions before, not always given fancy names like 'credit crunch' but still amount to the same doom and gloom. As Neil and Linda have pointed out, it is not only UK citizens that visit Egypt there are lots of nationalities including rich Egyptians. May be worth looking in to using a company that advertise worldwide to manage your rentals. Hope this helps, please keep us posted with what you decide 
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