Marsa Alam

[cin7166]

I really fancied a penthouse but ended up going for the cheapest option. If there were mortgages available I would have probably had the penthouse.

[taylorka]

maybe i need to look at a middle apartment rather than penthouse...

[cin7166]

They way I justified it to myself was that with the rental guarantees I would in effect be getting a 2 bed apartment I could use in the winter months, no hassle rental and half the money back over 5 years, so worse case scenario I have a 2 bed flat in the sun for £15k

[realestatemart]

Hi all
my opinion Marsa Alam city still need 8 to 10 years to be developed only divers go to this city and nothing else to do there if you love adventures in desert and diving plus be able to live in such old old old town without restaurants and bars or any big supermarkets not real hospital . then you can go and invest there still long time to be able to be something there if you don't need good return on it in 1 or 2 years, or don't want to rent it there so go there, only Divers able to live in this city i think

[cin7166]

The development includes restaurants, shops, marina, mini golf etc, so there will be things to do there when it's finished.

[thepupp1e]

We have gone for the penthouse option - only a few days more until launch!

[wemyss1960]

Once floorplans are issued, I assume that res fee will be refunded if the available apartments are unsuitable (views etc..)

[thepupp1e]

Originally Posted by wemyss1960

Once floorplans are issued, I assume that res fee will be refunded if the available apartments are unsuitable (views etc..)

Yes, that's right - if you can't get the apartment you want the reservation fee is refunded.

[realestatemart]

Originally Posted by thepupp1e

Yes, that's right - if you can't get the apartment you want the reservation fee is refunded.

That is the rule for all Real Estate Projects

[kc67]

Hi,
Snap! We also paid a deposit on a 2 bed middle apartment - they seem to be very popular! I'm glad that I came across this thread on the forum as we are also very concerned about paying all of the money up front. We found it very difficult to decide where to invest as there are so many conflicting viewpoints, but decided that at some point in the future Marsa Alam would catch up with the likes of El Gouna, Hurghada, etc., in terms of popularity - and in the meantime there is the guaranteed (average) guaranteed rental of 10% (I think it starts at 6% first year and reaches 14% in stages by year 5). Has anyone had any more info from their agents? Ours advised us yesterday that we should have the plans etc., by 15th March and would be contacted about 7 days after that to see which apartment we would like (they will phone everyone in order of when money was received in escrow account).