Regency Beach

[crombiestone]

Originally Posted by dunkan

I'd like honest opinions on a comment in an email to me today.

Emailed me after hearing that im looking at buying in Hurghada, he and his family stayed at Sharm El sheikh 18 months ago and to quote " he wouldnt go back if you paid him too "

Shan't quote the rest but it doesnt sound great.

Dunk

Dunk

An honest opinon not from a salesman

Egypt is a "Marmite" country . You love it or you hate it . It is certainly different and isn't to everyones taste . The main issues seem to be becoming ill on holiday and not being able to put up with the direct hassle from local vendors. You do get used to it but inevitably some vow not to return.That is why I keep saying that you should try before you buy .

I think that people expecting huge profits from property could be disappointed and I say that being an owner myself. Thats the risk you take . Personally I wouldnt go into any serious debt to fund a purchase ,and would not rely on rental to pay any loans.

When I bought I decided the price I was paying was the same price as a premium car that would be worth close to nothing in a few years time . I decided that I could stand the loss of the total price of the property as a worst case scenario so the risk wasnt great.I also bought because I thought El Gouna had massive potential.

Telling people that I had bought a property in Egypt three years ago got me some strange looks .I think most thought I was stark staring bonkers .After buying I sat and watched three successive bombings in the Sinai area on the News and worried that my property would actually be worth nothing before it was finished .

Three years on and those worries seem unfounded and the likelyhood of losing any money now is very slim as many more have bought in El Gouna for more than I did. I certainly dont regret doing it and I have already had 4 and will have many more holidays in my second home for years to come yet.

To summarise I think buying in Egypt is great if you are buying for yourself but I will reserve Judgement on whether everyone will make it rich from rental and resales. The first time sellers are the ones who will make the money .

[Randall]

Hi Dunk

I purchased in december and my allocation is 10.

[dunkan]

Originally Posted by Randall

Hi Dunk

I purchased in december and my allocation is 10.

Hi Randall

Doesn't make sence then as i've only just payed my reservation deposit, i'd have thought it would go numerically as you signed up ?

Dunk

[lyndsay552]

Has the price increase happened yet?

[propertastic]

I was told on Friday that these are not official allocation numbers.

They should be meeting in Birmingham right now in order to decide exactly how the allocation procedure will take place unless the plans have changed again over the past 48 hours.

Last thing I heard is that the price increase will take place on 1 March (if they still have anything left to sell by then!)

[Randall]

My agent is now charging £1.500 more than i paid for my apartment in December. They said prices would rise in Jan and theirs have.

[lyndsay552]

What have you bought and what was the original price?

Thanks

[Randall]

Hi

One bed £24.999 now it is on sale at £26.500.

[krisu]

Originally Posted by Randall

Hi

One bed £24.999 now it is on sale at £26.500.

Hi Randall

I have placed the reservation for 1 bed as well, and think that the price change because the apartment size has changed from 50sqm to 53sqm.

Have you already paid full amount?

Kris

[Randall]

Hi Krisu

Just the same as yourself placed £1000 down and then % as and when required. Just waiting to get a call to pick apartment now.