Investment or Residential?

[britishegyptian]

I just wondered in today's climate how many people have bought a property in Egypt to rent out and how many have actually decided to leave their country and start a new life there.

[casslondon]

I agree, I have just purchased a two bed apartment on Naama Bays cliff top. This is an investment property for me, I will use it a lot and rent it out. Eventually I plan to spend six months a year there but not for a few years. If they put the Marina in as rumoured my investment will bring a good resale return should I choose to sell. If not I still expect a good return on resale over 5 years. If the Egy pound stays sound I expect a good rental return as people shy away from Euro destinations and yearn for more sun. Sharm has so much to offer everyone I believe it will soon be number one destination, especially come Easter when people just can't afford to go skiing but want a holiday.
The government still have a lot to do though, especially on the laws for renewal of Leaseholds after 99 years.

Anyone have any clues on import tax for perfume. I would like to import designer perfume to sell there but can't get an answer anywhere on the import tax scenario!

We have bought mainly for investment purposes, but we chose Egypt as it is a favourite holiday destination already and we thought "may as well have our cake and eat it". So, we have taken up rental guarantee for 40 weeks a year over 5 years and the remaining 12 weeks a year will be ours to use as we wish. So long as flight prices stop rising, we hope to take more holidays in Egypt than the usual 2 weeks in summer. The plan is that re-sale should be starting to take off in around 6 years time, then we can look for our dream home in France and think about re-location there. But that is a while off yet and for now we'll enjoy our holiday home in the sun

[M Butler]

We have bought in El Gouna with a view to spending the majority of the year here and we have not really decided whether to rent out or not. At the same time, we would obviously hope that house prices will rise over the next few years but this is not necessarily why we bought.

Margaret

[majicou]

We are buying in El Gouna, with completion ahead of schedule and planned for next year. We don't intend to rent and have bought for our own use with the intention of in the future spending more time there especially in the winter. Have a trip planned on 31st October on my own as husband unable to get away and could not resist the opportunity of seeing the progress 1st hand. A little nervous as it will be the first time I have gone alone to Egypt but all being well it won't be the last!

[Stingo]

Hi Majicou

How was your trip to El Gouna? I came back , 2 weeks ago, following my first trip there. The reason for the visit was 2 fold. Firstly I was interested in buying and secondly, I am selling there as an agent.
I had a wonderful trip with the family and did actually buy a couple of units in Ancient Sands. The whole area is already established, as you know, but the future plans are even more exciting.
There is this wonderful feeling of exclusivity which is what we were looking for and what many clients have since looked for. You pay may more in El Gouna but the reason you do , is quite obvious once you are there.
I am on a small guaranteed rental and will be in the rental management programme. The construction period is long and payment terms attractive.
We will definately be going back next to review progress to spend a few more glorious evenings with the team there.

[realestatemart]

Originally Posted by Stingo

Hi Majicou

How was your trip to El Gouna? I came back , 2 weeks ago, following my first trip there. The reason for the visit was 2 fold. Firstly I was interested in buying and secondly, I am selling there as an agent.
I had a wonderful trip with the family and did actually buy a couple of units in Ancient Sands. The whole area is already established, as you know, but the future plans are even more exciting.
There is this wonderful feeling of exclusivity which is what we were looking for and what many clients have since looked for. You pay may more in El Gouna but the reason you do , is quite obvious once you are there.
I am on a small guaranteed rental and will be in the rental management programme. The construction period is long and payment terms attractive.
We will definately be going back next to review progress to spend a few more glorious evenings with the team there.

I support El Gouna, its amazing as its a ready established community with all services you would ever need, just it have a life style that could be the perfect choice for some people and some may not depends on what you like, just only point these new projects is away from the sea around 12 km something like this, so not like other old projects

[realestatemart]

Originally Posted by casslondon

I agree, I have just purchased a two bed apartment on Naama Bays cliff top. This is an investment property for me, I will use it a lot and rent it out. Eventually I plan to spend six months a year there but not for a few years. If they put the Marina in as rumoured my investment will bring a good resale return should I choose to sell. If not I still expect a good return on resale over 5 years. If the Egy pound stays sound I expect a good rental return as people shy away from Euro destinations and yearn for more sun. Sharm has so much to offer everyone I believe it will soon be number one destination, especially come Easter when people just can't afford to go skiing but want a holiday.
The government still have a lot to do though, especially on the laws for renewal of Leaseholds after 99 years.

Anyone have any clues on import tax for perfume. I would like to import designer perfume to sell there but can't get an answer anywhere on the import tax scenario!

may be you could contatc zeiad yehia in Legal thread and he will tell you about all info you need.

[Stingo]

Originally Posted by realestatemart

I support El Gouna, its amazing as its a ready established community with all services you would ever need, just it have a life style that could be the perfect choice for some people and some may not depends on what you like, just only point these new projects is away from the sea around 12 km something like this, so not like other old projects

Hi George

It would seem that you are in agreement with what is being offered in El Gouna. But just so that there is no confusion. El Gouna is on the coast and enveloped in lagoons. Ancient Sands will also have many lagoons and is max 1 km away from the sea but interlinked with waterways to the sea.

[realestatemart]

Originally Posted by Stingo

Hi George

It would seem that you are in agreement with what is being offered in El Gouna. But just so that there is no confusion. El Gouna is on the coast and enveloped in lagoons. Ancient Sands will also have many lagoons and is max 1 km away from the sea but interlinked with waterways to the sea.

are you sure its 1 km?????? only???