The reason I buy in Resort Communities, such as El Gouna, Sahl Hasheesh etc.

[Lsab]

Hi Stuart - welcome back! Did you buy the properties on this visit? Which developments did you buy in? Any photos?

[wemyss1960]

Bought four 1 bed apts in Palm Beach Piazza last year.Paid 40k for each unfurnished.Should be minimum £64k now and still plenty of growth to come when 1st Golf course,Piazza and a few bars and restaurants are open.
Had a superb fillet steak in 'FANTINIS' which is an Italian restaurant onsite at at Palm Beach Piazza.

[Lsab]

Well done - Palm Beach Piazza was our first choice but we just couldn't get the finance sorted out.

[realestatemart]

Originally Posted by wemyss1960

Bought four 1 bed apts in Palm Beach Piazza last year.Paid 40k for each unfurnished.Should be minimum £64k now and still plenty of growth to come when 1st Golf course,Piazza and a few bars and restaurants are open.
Had a superb fillet steak in 'FANTINIS' which is an Italian restaurant onsite at at Palm Beach Piazza.

congratulation sturat sh you all the best

[Georgina]

Just to add a few of my thoughts having lived in El Gouna for nearly five years.

My aim was to purchase a property that felt totally different to anything in Europe. I wanted to feel like I was in Egypt when I close the doors so buying my Nubian style apartment with domed ceilings, arches and stunning views over the lagoons, mountain and sea delivered this.

I also wanted to live somewhere that I could walk everywhere. The roads in Egypt scare me so much because of the standard of driving. And also because of the Europeans full of alcohol! In El Gouna I can walk just about everywhere and catch a shuttle bus if I want to go from one end to the other. Even in El Gouna there are many accidents but in Egypt I think the figures are 8,000 deaths per year on the roads.

I love to swim in the lagoons. I hate swimming pools.

The sea view rooms at the Sheraton were being refurbished when I visited the hairdresser recently and they were dredging the lagoon too.

El Gouna is getting busier and less quieter with the marina parties now every Friday and Monday and more venues open to dance until sunrise!

Because El Gouna is growing so fast and a lot of people have bought as an investment there are more and more resales available. Some are asking way too much money and have therefore had their properties up for sale for a long time, especially if they are on the edges of El Gouna or don't have any views from their windows. A bargain could be had if you contact the buyer direct. There is a Group on Yahoo for El Gouna you could join and ask for details or search the forum for property for sale. Orascom would obviously prefer to sell you a new property than one they have already sold.

Whether buying in Egypt is an investment or not I really don't know. It's Egypt. We don't have the standards as in Europe. All I know is that I chose my apartment as a home to live in and hopefully will never have to sell. Prices go down as well as up. I have owned property in the UK for 20 years and look what is happening there now. I am sure it will have a knock on effect here if it is mainly Brits buying on the Red Sea? And you can say your property is worth what ever you like but it is only worth what you actually sell it for as a few people in El Gouna are finding out.

For me it certainly is "Life As It Should Be' and I know I am very, very lucky :-)

[realestatemart]

Originally Posted by Georgina

Just to add a few of my thoughts having lived in El Gouna for nearly five years.

My aim was to purchase a property that felt totally different to anything in Europe. I wanted to feel like I was in Egypt when I close the doors so buying my Nubian style apartment with domed ceilings, arches and stunning views over the lagoons, mountain and sea delivered this.

I also wanted to live somewhere that I could walk everywhere. The roads in Egypt scare me so much because of the standard of driving. And also because of the Europeans full of alcohol! In El Gouna I can walk just about everywhere and catch a shuttle bus if I want to go from one end to the other. Even in El Gouna there are many accidents but in Egypt I think the figures are 8,000 deaths per year on the roads.

I love to swim in the lagoons. I hate swimming pools.

The sea view rooms at the Sheraton were being refurbished when I visited the hairdresser recently and they were dredging the lagoon too.

El Gouna is getting busier and less quieter with the marina parties now every Friday and Monday and more venues open to dance until sunrise!

Because El Gouna is growing so fast and a lot of people have bought as an investment there are more and more resales available. Some are asking way too much money and have therefore had their properties up for sale for a long time, especially if they are on the edges of El Gouna or don't have any views from their windows. A bargain could be had if you contact the buyer direct. There is a Group on Yahoo for El Gouna you could join and ask for details or search the forum for property for sale. Orascom would obviously prefer to sell you a new property than one they have already sold.

Whether buying in Egypt is an investment or not I really don't know. It's Egypt. We don't have the standards as in Europe. All I know is that I chose my apartment as a home to live in and hopefully will never have to sell. Prices go down as well as up. I have owned property in the UK for 20 years and look what is happening there now. I am sure it will have a knock on effect here if it is mainly Brits buying on the Red Sea? And you can say your property is worth what ever you like but it is only worth what you actually sell it for as a few people in El Gouna are finding out.

For me it certainly is "Life As It Should Be' and I know I am very, very lucky :-)

What an amazing experince Georgina to share with us its realy nice from you
Regards
George

[The Smart Money]

Originally Posted by wemyss1960

Just Back from Hurghada.Never been to El Gouna before so thought I would pay a visit.Stunning place,much better than I expected.

Have bought several properties in Sahl Hasheesh for Investment - Would buy a villa in El Gouna if I was looking for residence or long stay holidays.

Hope Sahl turns out as good.

Well done to those who invested early in El Gouna.

Stuart,

I am contemplating investing in sahl (in particular veranda) do you have any advice? i.e. the reasoning behind your particular choices etc.

Im trying to do my own due diligence but sourcing non-vested information or recommendations is proving difficult.

any advice will be much appreciated.

regards

Steve

[wemyss1960]

Hi Steve,

I think I was lucky with the timing of my purchases. PBP is frontline so it was a no brainer

Sahl Hasheesh is still work in progress so there is still plenty of growth to be had.

my suggestions:

Haggle for a discount regardless, whether you are using an agent or dealing direct.

Try to haggle on maintenance fees and get them capped if poss.

Use a multi tie agent,it wont cost you anymore as they can haggle on your behalf.

Dont rely on rental income.

Check the masterplan for any neighbouring developments as what is on offer now (views etc) may not be the same in a years time

Property prices can go down,not just up.

Have an exit strategy.

Feel free to call me anytime for a chat.

Enjoy the sun!

[queenie40something]

Great advise Stuart for potential investors - thanks.

[Peter Mitry]

Make no mistake about it; Sahl Hasheesh is an amazing place and in five years time investors who got in early like myself and Stuart will be very glad that they did. Every new hotel that opens, every new project that completes and every new retail business which opens up will add value.
Isn't that what investing is all about? Getting in early in a project like SH and waiting for the Planners and Developers to do their work. You don't invest in a project like this for the short term; so forget rental income for a couple of years. If it comes it will be a bonus.
The reason you are there is for the Medium to Long term and you can expect your property prices to double in 3 years and maybe triple in five years. Isn't that worth waiting for? How many times have you read on this forum people say 'I wish I had got into El Gouna two years earlier, I could have bought a villa instead of a one bed'. These are sentiments you will hear expressed many times in property investment and you know what? It's true.