Marsa Alam

[P Greenwood]

Thanks Karen.

Went for a first floor suite in block 14. Overlooking the main pool and hopefully a sea view (just!!!).

Paul

[samui13]

Contratulations, glad you got first choice - cant be bad

[realestatemart]

Originally Posted by P Greenwood

Not posted before, but..

Just this minute had our call. Having made a list of 14 got our first choice!!

congratulation for your purchase

[Lsab]

Originally Posted by P Greenwood

Not posted before, but..

Just this minute had our call. Having made a list of 14 got our first choice!!

Congratulations It looks as though many of you are getting your first choice or near to it. Well done.

[P Greenwood]

Thanks everyone. Good luck to those still waiting.

I hope that when our units are ready that there will be plenty of the resort features active. We will be contractually due to exchange in 18 months from payment. That takes us to the end of 2009. The resort isnt due to be finished until the end of 2010.

I hope they at least put the dive centre in early!!!

Either way we are very happy and looking forward to watching the progress.

[optom39]

Hi I have just joined this forum and not really sure what I am doing! I have my phone call tomorrow about which appartment to choose. No one seems to have shown interest in the garden appartments - is there any reason for this?!

[Lsab]

Hi optom39,

Welcome to the forum. If you need any help finding your way around the forum just ask one of the moderators. There's always one of us around

[kc67]

Originally Posted by P Greenwood

Thanks Karen.

Went for a first floor suite in block 14. Overlooking the main pool and hopefully a sea view (just!!!).

Paul

Hi Paul,
Those suites overlooking the main pool are in a lovely position - I also had a couple of those on my shortlist of preferred suites!
Hi Optom39 and welcome. I think it is just down to personal preference - no good reason that I know of not to choose a garden apt. Fingers crossed for tomorrow. There are a few others waiting for their phone calls tomorrow also, so good luck to all - let us know how you get on.

[ted_007]

Originally Posted by optom39

Hi I have just joined this forum and not really sure what I am doing! I have my phone call tomorrow about which appartment to choose. No one seems to have shown interest in the garden appartments - is there any reason for this?!

Hi Optom39

I think garden ones are great! u've got the garden with BBQ. Kids can play there while u r watching telly. Its all there at the door step of ur apartment and u have a separate entrance. first and second floors will be getting in through the end of block staircase.
I think garden apartments r great.
why not so popular........... hmmmmmmmm... I think, most of us we are a bit concerned about security. for no reason - resorts in Egypt r safe.

[chriscross34]

hi optom39, welcome, i joined recently too. I fancied a garden appt but couldn't really afford the extra 10,000 euro, though admitedly at reservation stage we were not given much information regarding financing the appartment. The only other reason why i thought against a Garden appartment is I wasn't sure whether there would be an enhanced maintenance cost. On the positive side, imagine being able to invite family and friends into your own private garden having your own private parties or just a sunbathe.

Don't be put off, I think they will be great honestly! Chris

On a related point, I am not getting my call till tomorrow but am almost considering getting one of their mortgages as the rental guarantee will cover most of the mortgage and I am spreading the risk of advancing most of the purchase costs.

Is anyone else considering the developers mortgage? I know 10% is expensive but its based on approx 60% of the purchase cost. Stark enterprises have told me that the mortgage cost will be deducted from the rental and I will have to meet any shortfall.

The mortgage is payable 12 months from reservation and not at after completion as i had thought. In effect, year 1 will be total negative cash flow with some rental in Year 2. on a 24,000 euro loan less the rental over 6 years, assuming 14% return in Year 6, I've worked out that the additional cost is about 7,000 euros, which isnt bad for a furnished 2 bed roomed appartment in a 5 star resort

The downside to the mortgage is that only certain appartments are available for mortgage, these include those that face the opp direction of the pool in block 1,2,3 of Building E and those that face the mall in block 6, Building F and block 7 Building G

Chris