Is Sahl-Hasheesh a good investment?

[cuerdley1989]

I am intending to look at properties at Sahl-Hasheesh as an investment and not particularly a holiday home.
If I was to purchase a 2 bedroom apartment - how much could I expect to receive for renting it out?
Would it be a better investment than El Gouna?

[danny]

Originally Posted by cuerdley1989

I am intending to look at properties at Sahl-Hasheesh as an investment and not particularly a holiday home.
If I was to purchase a 2 bedroom apartment - how much could I expect to receive for renting it out?
Would it be a better investment than El Gouna?

In the future they may well be a sound rental investment but you will have to wait a while before projects are completed and infrastructure is complete and amenities are readily available.
If you need instant return on your investment then you would be better looking at projects that are already complete or are virtually complete with guaranteed rental.

[wemyss1960]

Hi,

Palm Beach Piazza has been completed. Properties are already being rented out and used by their owners.

Although 'SOLD OUT' some resales are available.

El Gouna is also superb!

[cuerdley1989]

Originally Posted by wemyss1960

Hi,

Palm Beach Piazza has been completed. Properties are already being rented out and used by their owners.

Although 'SOLD OUT' some resales are available.

El Gouna is also superb!

Hi - stayed in El Gouna for 2 weeks earlier in the year and throughly enjoyed it, but have been advised that Sahl-Hasheesh should be even nicer.

Have you any idea what price Palm Beach Piazza are being rented out at?

[HORIZON]

I was advised to look at Oberoi for rental returns - rate per night would be something developers will be predicting to clients.

I would agree however Sahl is now somewhat overpriced for the place with so much construction and no infrastructure yet. When it has - it will be more expensive than El Gouna. But always take into account Sahl Hasheesh is freehold properties and El Gouna - Signature Validity Verdict only.

They are about to open the Oldtown this year, so to my mind the price increase can be predicted after this. But in the end investing in Sahl is already for people who have substantial deposit to put in for investment - you will deposit more, you will get more in the end.

Or you can go for small investments in Hurghada and make use of them faster.

People say Gamsha Bay is great for investment and even not yet started - I bet it will be pricier than Sahl or El Gouna... I guess the delay is because they want to enter market in the right moment to be able to make the price higher.

[wemyss1960]

Originally Posted by cuerdley1989

Hi - stayed in El Gouna for 2 weeks earlier in the year and throughly enjoyed it, but have been advised that Sahl-Hasheesh should be even nicer.

Have you any idea what price Palm Beach Piazza are being rented out at?

It varies really. Through estate-alliancedotcom they are advertised from 50 euro per night,85 euro per night or 650 euro per month.

Personally I feel next year they will fetch about £150 pw min

Never rely on rental income to cover any loans etc ...

[Rivermead Global Property]

Anyone know what the average maintenance charges are for Sahl Hasheesh developments?

[HORIZON]

I would say GBP 5 per sqm but no doubt varies from project to project.

[wemyss1960]

Originally Posted by HORIZON

I would say GBP 5 per sqm but no doubt varies from project to project.

Palm Beach Piazza was originally quoted as 1 euro per m2 per month
I believe some people are paying £750 per annum for a 64m2 apartment which equates to just less than £1 per m2 per month

[HORIZON]

Originally Posted by HORIZON

I would say GBP 5 per sqm but no doubt varies from project to project.

Actually i stated the rate per year..