Will hurghada have oversupply of beds ?

[dave99]

Originally Posted by dave2u

we will have to wait and see if egypt becomes a top destination there are no signs yet of airlines increasing capacity for 2008 so prices will stay at current levels.beds come on line fron jan 2008 and peak 2009/10. thats when we will see the state of the rental market and i think its a gamble but lets hope it pays off

No peak anytime soon. New developments will continue for ever in this region since there is so much space with easy access even if not from the UK.

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[propertastic]

Originally Posted by dave99

How much capacity is for non-tourists ???

I had never given much thought to the ex-pat market being very significant at the moment. But doing some research over the weekend, I discovered that there are already 'several thousand' Russians living permanently there already.

There seems to be a fair few Germans, Dutch, Danes, etc. there too, but I have no idea as to numbers.

The number of expats is definitely going to increase rapidly as more opportunities for employment there increase to cater for the tourists and other expats too.

[awahee123]

Looks like we are not alone,there is a large market for europe, I know at this time of the year a lot of Dutch and swedes do holiday in Hurghada.

[dave99]

Originally Posted by awahee123

Looks like we are not alone,there is a large market for europe, I know at this time of the year a lot of Dutch and swedes do holiday in Hurghada.

Still mostly Eastern Europeans last week in Hurghada.


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[awahee123]

I always thought most of eastern europe was quite poor I don't know why,however people from this region are snapping up property in Egypt all over the place.

[propertastic]

Eastern Europe is similar to Egypt - most people haven't got that much money, but the top few percent have a lot of money.

People can't believe the cars that they see in my current home town of Riga - Bentleys, Maseratis are popular with the uber-rich at the moment. I'll see two or three of each at least on my daily wander to the supermarket and back which only takes about 20 minutes.

Estonia has the highest concentration of Hummers per capita than anywhere else in Europe.

Any, Moscow, of course, is the most expensive city in the world if you want a good lifestyle.

[dave99]

Originally Posted by propertastic

Eastern Europe is similar to Egypt - most people haven't got that much money, but the top few percent have a lot of money.

People can't believe the cars that they see in my current home town of Riga - Bentleys, Maseratis are popular with the uber-rich at the moment. I'll see two or three of each at least on my daily wander to the supermarket and back which only takes about 20 minutes.

Estonia has the highest concentration of Hummers per capita than anywhere else in Europe.

Any, Moscow, of course, is the most expensive city in the world if you want a good lifestyle.

Interesting insight - thanks

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[dave99]

Originally Posted by hiszein

did any1 know that prices in Hurghada will increase by 17% starting the 15th Jan.08 ?
can any1 update me ?

Mis-post about a place in Arabia Beach Tourist District

See other thread for this one.

[dave99]

Originally Posted by Dashy

Hi,
IMHO 30K can be invested elsewhere with less risk then Egypt has at present, you need to consider world markets and other indicators like oil prices which is record high now, and predicted to be even higher, so talking about cheap flights and hoping there will be cheap tickets to Egypt is a real gamble. I will agree to other posts - it is a good and established holiday destination but property prices are dependant on the tourist market, where other property (Bratislava someone mentioned) will always have a demand and rental market.
Also keeping apartment for your own use will most likely cost you around 50 pounds per month, service charges etc... and if you are not on holidays all year around - this is going to consume your capital appriciasion (if there will be any).
Again, we should see clear picture in the middle/end of 2007.

Regards
Dashy

Red Sea Egypt has great propects - much better than some of the current locations in Europe.
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[dave99]

Originally Posted by propertastic

One thing I have noticed as an ex-pat for the past 15 years is that the British can be very Anglo-centric. It seems a lot of people think that the British are the only people who ever go on holiday!

Although the British are the most active buyers on the property market, they comprise a very small proportion of visitors to the Red Sea Riviera at the moment.

It's very big with Eastern Europeans as it's very easy to get to from there compared with the other major winter sun destinations such as the Canaries, and prices are affordable as well.

You just need to look at the arrivals/departures board at the airport to see where the tourists are coming from - places like Kosice in Slovakia, Vilnius in Lithuania, Kiev and Moscow of course. Lots and lots of tourists from Moscow.

It's big with the Scandis as well.

So don't judge the potential simply on the fact that not so many Brits are holidaying there yet.

Dead right - lots of Non-Brits.

Great value property will help to add to the flow over the next few years.

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