Will hurghada have oversupply of beds ?

[propertastic]

Originally Posted by awahee123

I've never been to Latvia but I know my mate had his stag party there as well, are everyday things cheap?.
My friend said it was very reasonable for drinks LOL

Not so much any more. Inflation is now the highest in Europe at 13.5% and prices in the centre of the city are aimed more at visiting foreigners than the locals.

[dave99]

Originally Posted by propertastic

Quite nice until FHM voted it 'Europe's best stag party destination' in 2005, which resulted in RyanAir jetting in planeloads of football hooligans in every weekend, who make such a nuisance of themselves that the locals are sicked and tired of them.

It gets a bit chilly up here in winter as well.

And the property market has been dying since last March.

But, apart from that, it's quite nice!

Thanks - just like the UK then !!!

.

[awahee123]

Hi Nick,

Wow inflation rate looks crippling...Is out of town still reasonable?.

[propertastic]

Originally Posted by awahee123

Hi Nick,

Wow inflation rate looks crippling...Is out of town still reasonable?.

Well it started off being very cheap, but with the inflation rate, it's catching up with the rest of Europe really fast.

Prices are cheaper outside the capital for sure (similar to most countries). Property did go through a boom but now prices are sliding fast (which is a shame because I own property in the country's #3 city which increased very fast for a couple of years but has now gone back down a lot).

[dave99]

Originally Posted by propertastic

Here's a new rental agency that seems relatively efficient in my first dealings with them:

Red Sea Rentals ~ Self catering sea view properties and more ~

Do they "package" stuff like transfers / flights / insurance etc.

.

[propertastic]

Originally Posted by dave99

Do they "package" stuff like transfers / flights / insurance etc.

.

No, they're a small company.

No way a little guy in Hurghada is going to match the clout of one of the big internationals for making package deals.

[dave99]

Originally Posted by propertastic

Well it started off being very cheap, but with the inflation rate, it's catching up with the rest of Europe really fast.

Prices are cheaper outside the capital for sure (similar to most countries). Property did go through a boom but now prices are sliding fast (which is a shame because I own property in the country's #3 city which increased very fast for a couple of years but has now gone back down a lot).

looks risky for long term planning

..

[propertastic]

Originally Posted by dave99

looks risky for long term planning

..

This is what leading economists and the Head of the European Bank are saying too. They are saying that the economy is fast approaching meltdown and they might have to value the currency by a third against the Euro.

As most people have mortgages in Euros, this will be rather bloody. It's exactly the scenario that caused the run on the Argentinian Peso a few years back.

[Peter Mitry]

Hi Guys! Just a reminder that this thread was meant to be about whether or not Hurghada has an oversupply of beds!! Interesting though Latvia is its a long way from Hurghada and no where near as hot!!

[awahee123]

You are right Peter it is sorry..
It's easy to get side tracked on the forum.