Egypt 2 bed frontline property for 20/30k

[kimsheppard]

Hello there, am ready to put my reservation fee down on Regency Beach. Have told it will be complete Spring 2009, has anyone had any dealings or reserved any apartments, your feedback would be appreciated. Thank you, Kim

[Peter Mitry]

I think that the Regency Brand takes some beating; heated swimming pools, in house furniture and soft furnishings manufacture, and British management makes any of the Regency projects a safe bet and good value for money in my view.

[realestatemart]

Originally Posted by kimsheppard

Hello there, am ready to put my reservation fee down on Regency Beach. Have told it will be complete Spring 2009, has anyone had any dealings or reserved any apartments, your feedback would be appreciated. Thank you, Kim

Dear kIM
just was there 2 days ago last news the developer in Uk now adays to have the final plans to start work in it and aslo they hiring Uk Engineers to take care about everything I hope it will start work on it soon but i tell i just was on location there its realy amazing

[crombiestone]

Originally Posted by realestatemart

just was there 2 days ago last news the developer in Uk now adays to have the final plans to start work in it and aslo they hiring Uk Engineers to take care about everything I hope it will start work on it soon but i tell i just was on location there its realy amazing

I have no comment to make on any specific development itself, but at the moment it takes a real stretch of the imagination to call anywhere on The El Gouna - Hurghada road amazing . I have travelled this stretch of road so many times over the last four years and it is not in the least bit attractive (to me ) The beach may be very nice at a specific location but unless a buyer is happy with staying "on complex" (and being accross the road from army owned land strewn with rubbish... ugh !), then they are fairly isolated properties.

There are hardly any established hotels in this area and it is littered with unfinished Ghost developments . No matter how much agents and developers say that this whole area will be transformed soon ( they would wouldn't they !) ,I just find it hard to believe . Being a regular visitor to Egypt for 20 years I have come to realise that many promises are not fulfilled and things happen slooowly . If you do not visit before buying you could be in for a BIG shock and take any "promises" from agents and developers with a pinch of salt and I include El Gouna in this .

El Gouna has been promising a second golf course for four years now ! Maybe in two or three years there may be the demand for a second course (dont get me started on Sahl and its eight proposed courses !!!) . If you know the area you have to question who is going to need or use them all ? Regardles of the great winter weather, golfers will still choose Spain/Portugal for winter golf or even upmarket Dubai over downmarket Egypt .Its just not that easy to change these patterns .

I know I keep posting pessimism but I think someone needs to be realistic as the majority of posts here still come from developers and agents.

As Always I'm not saying do not buy ,just know what you are buying into .If you are happy with what you see (Head not Heart ) then Egypt is a great place to have a property .

[realestatemart]

Originally Posted by crombiestone

I have no comment to make on any specific development itself, but at the moment it takes a real stretch of the imagination to call anywhere on The El Gouna - Hurghada road amazing . I have travelled this stretch of road so many times over the last four years and it is not in the least bit attractive (to me ) The beach may be very nice at a specific location but unless a buyer is happy with staying "on complex" (and being accross the road from army owned land strewn with rubbish... ugh !), then they are fairly isolated properties.

There are hardly any established hotels in this area and it is littered with unfinished Ghost developments . No matter how much agents and developers say that this whole area will be transformed soon ( they would wouldn't they !) ,I just find it hard to believe . Being a regular visitor to Egypt for 20 years I have come to realise that many promises are not fulfilled and things happen slooowly . If you do not visit before buying you could be in for a BIG shock and take any "promises" from agents and developers with a pinch of salt and I include El Gouna in this .

El Gouna has been promising a second golf course for four years now ! Maybe in two or three years there may be the demand for a second course (dont get me started on Sahl and its eight proposed cour0ses !!!) . If you know the area you have to question who is going to need or use them all ? Regardles of the great winter weather, golfers will still choose Spain/Portugal for winter golf or even upmarket Dubai over downmarket Egypt .Its just not that easy to change these patterns .

I know I keep posting pessimism but I think someone needs to be realistic as the majority of posts here still come from developers and agents.

As Always I'm not saying do not buy ,just know what you are buying into .If you are happy with what you see (Head not Heart ) then Egypt is a great place to have a property .

How could be El Gouna then life as it should be???
but believe me there is real nice areas and realy good not all are bad i support your opinon for sure no one should buy before seeing real

[crombiestone]

Originally Posted by realestatemart

How could be El Gouna then life as it should be???
but believe me there is real nice areas and realy good not all are bad i support your opinon for sure no one should buy before seeing real

Good reply

I do not actually play golf and couldnt care less if El Gouna gets a second course , it was just an example of how statements are made and then do not happen or take a very long time to happen

You are Egyptian ... you know what I mean

[awahee123]

You are right crombiestone,I personally have come to the conclusion that people should maybe look at developments that are already built and finished ready to move into,keep away from the larger developers,not even a handful can say they have really come up with the goods.I have been impressed by Iraida up to now anybody else has to prove themselves.This whole off plan thing is worrying for everyone.
As soon as you put your deposit down you start wishing you hadn't.
Maybe someone will make some sense out of it all LOL.

[Mark .Y.]

Originally Posted by awahee123

You are right crombiestone,I personally have come to the conclusion that people should maybe look at developments that are already built and finished ready to move into,keep away from the larger developers,not even a handful can say they have really come up with the goods.I have been impressed by Iraida up to now anybody else has to prove themselves.This whole off plan thing is worrying for everyone.
As soon as you put your deposit down you start wishing you hadn't.
Maybe someone will make some sense out of it all LOL.

I agree, one of my key requirements when I came over to look was a development that was either already built or "well on the way".
I am still not sure whether to invest in Egypt at all as I have a few concerns, in particular the flight prices but definitely haven't ruled it out.
In the same way, I would not definitely rule out an "off-plan" investment but would have to be really convinced that it was worthwhile.
It seems to me that if you wait for the development to be completed there are always available apartments at not much more than somebody has paid a year or so previous and you've had your money in the bank for that year.
I believe going back 3 or 4 years that was probably not the case as the property was so cheap then that people have made a good profit, however I think things have probably changed.

Mark .Y.

[crombiestone]

Originally Posted by Mark .Y.

I believe going back 3 or 4 years that was probably not the case as the property was so cheap then that people have made a good profit, however I think things have probably changed.

Mark .Y.

3 or 4 years ago there was very little in the way of touristic apartments in Hurghada and finding information on them was nigh on impossible . The resale apartments that I saw in Hurghada were from £8K and the Hilton Plaza had rooms at 10K -12K .

In El Gouna , a studio was from 17K ,1 Bed 21K ,2 Bed 33K townhouse 50K and villas were 60 K upwards to about £100K . Abu tig apartments were 70K .

[Peter Mitry]

There are good Developers out there and when a market starts to show the sort of promise we are now seeing in Egypt then more and more will be attracted in. You only have to look at the growth of this section of the forum to see what is happening. The best advice I can give to anyone contemplating buying off plan is to ask for the Due Diligence documents on the project which most responsible agents would insist on seeing. It really is the first thing you should ask your lawyer to check. This deals with the legal purchase of the land, the planning process and the rights of the Developer to sell it.