Hania Beach, Central Hurghada, Egypt - Due for completion Summer '09.

[redangel7861]

Originally Posted by queenie40something

Hi Red - yes it is 99 year renewable lease in Sharm but it is not a problem. When you sell the new owner either keeps the existing lease and what is left on it or applies for a new 99 yr one for around £1000.

Hi Queenie.

I think Sharm is a great place with some great apartments. But as an investor I always look at freehold and also Hurghada is a developing area and is behind the curve when compared to Sharm. You will find that most investors, agents and developers are targeting Hurghada just because of the boom potential, hence in my opinion we will see much higher capital appreciation in Hurghada than in Sharm. The mortgage market is in it's infancy in Egypt but is about to take off along with the low cost carriers soon flying to Hurghada International airport. Once these two factors happen, anyone who has purchased in the Hurghada area will see very healthy returns on their capital, in my opinion.

Again, it's all about lifestyle issues. If you've purchased in Sharm for a second home then that's great, but if it was for investment then in my opinion you would have been better of purchasing in Hurghada.

Again, these are my opinions only.

Rgds
RED

[queenie40something]

Hi Red - yes agree ref investing. I hope for the sake of many that Hurghada will have more airline options flying out there and hopefully Easyjet will continue. We have only bought 1 apartment and it is really just for ourselves. We did not buy with the intention of letting it out. Of course when we are not using it we will let it to friends and families as this will help it pay for itself.
We are contemplating moving out there next year.

Regards

Alison

[redangel7861]

Originally Posted by queenie40something

Hi Red - yes agree ref investing. I hope for the sake of many that Hurghada will have more airline options flying out there and hopefully Easyjet will continue. We have only bought 1 apartment and it is really just for ourselves. We did not buy with the intention of letting it out. Of course when we are not using it we will let it to friends and families as this will help it pay for itself.
We are contemplating moving out there next year.

Regards

Alison

Hi Alison.

Like I've said it's all about lifestyle choice, and you've made a good choice.

With regards to airlines, the more popular Hurghada becomes the more airlines will fly there with more flexible fight times. It's all about demand, and if the demand is there then we will see an increase in flights.

All the best with your apartment.

Regards
Red

[queenie40something]

Thanks Red - all the best with your investments.

[realestatemart]

Originally Posted by redangel7861

Alison,

Is the Sharm area not leasehold?????

Hello sharm is not free hold its 99 years lease

[redangel7861]

Originally Posted by realestatemart

Hello sharm is not free hold its 99 years lease

Realestate.

We already know that, but thanks anyway.

Rgds
RED

[realestatemart]

Originally Posted by redangel7861

Realestate.

We already know that, but thanks anyway.

Rgds
RED

No Problem

[dave99]

.
This development looks as though it's going to get the really hard sell / high profile / very costly marketing push - I've had several e-mails about it and the level of information is not very good - interesting that there is no location map.

I suspect that the high cost per sqm is to pay for the selling costs that will need to be incurred over the next 2 years or so.

It may well turn out to be a great development but is currently priced to allow big discounts to be offered by "exclusive" agents.

.

[redangel7861]

Originally Posted by dave99

.
This development looks as though it's going to get the really hard sell / high profile / very costly marketing push - I've had several e-mails about it and the level of information is not very good - interesting that there is no location map.

I suspect that the high cost per sqm is to pay for the selling costs that will need to be incurred over the next 2 years or so.

It may well turn out to be a great development but is currently priced to allow big discounts to be offered by "exclusive" agents.

.

Dave,

If you look at post 71 on this thread you will see three Google earth maps pinpointing exacty where the location is. Again, this is pre-launch and all the info will be available on launch.

[dave99]

Originally Posted by redangel7861

Dave,

If you look at post 71 on this thread you will see three Google earth maps pinpointing exacty where the location is. Again, this is pre-launch and all the info will be available on launch.

Sorry but with this amount of info and selling already happening there is no way that this is still "pre-launch".

The only relevance to this statement is to allow the discount to be offered
- it's a will used marketing tool
- but please see it as such and take a more realistic view on the true value that you might be thinking of buying into.
.