Marsa Alam

[samui13]

Hi there and welcome.

Marsa is quite a quiet sleepy village. At the moment its mainly hotels. It depends on what you want really. We like sunny days and quiet early(ish) nights since we are divers. we like a relaxed laid back environment with people chilling out. If this is what you would like then Marsa is a good place for you. If you want action and starbucks coffee, mcdonalds and nightclubs then you would want hurgharda. Its all a matter of taste. Although I am sure in 10 or so years, marsa will have grown bringing with it some of the attractions found in hurgharda.

Is it a good investment? Who knows - is a house in the UK a good investment? If you are buying it for lifestyle then its definately a good investment. however, if you are ONLY in it for the money, there is a risk involved. We are buying purely for lifestyle so the risk is minimal. Still the only winners are normally the risk takers. The way I look at it, is with the guaranteed rental income for 5 years, you will get half your money back. It depends on how much of a risk the other half of the money is to you I suppose.

With regards to escrow, yes all the money, including furniture packs need to be paid up front (and the escrow agent gets the interest!!).

Lou

[hhermani]

Thanks Lou, I have been to Marsa myself once, my wife twice and we'll be heading there again in a weeks time. We are divers, we like the underwater world, we like the quiteness.
The reason for us to buy is lifestyle as well. But the only concern I have is, when you want to sell it, how to sell a appartment in a resort. After 5 years, you've 50% of your money back, so effectively it would could you 22k euro.

When is the scheduled finish date of the project ? And when does the guaranteed rental income start ?

Han

[johnnyM]

Hi Lou/Han

You both seem to know the area quite well.

Is it suitable for families ? We have three young children and we are looking for a holiday home and investment.

We would prefer something quiet but with some things to do for kids. I thought a resort like this would be good if it is all on site.

Have not been to Egypt yet, where would you suggest is best ?

We are looking at either Hurghada or Marsa Alam, or are we way off course here!

I think the scheduled end build time for the Marsa Alam beach resort is sometime 2010.

Jon

[Lsab]

Hi Jon and welcome to the forum. Have you had a chance to have a look around yet? One of the best ways of getting questions answered is to post a little about yourself on the Introductions thread. It gives us a chance to 'meet' you and your family and gives you a chance to 'meet' lots of the members. Everyone is very friendly and the advice and information you'll get from people here is excellent. I know that you're interested in Marsa and this is an extremely informative thread. You also expressed an interest in Hurghada. There's so many threads on the developments there and Hurghada in general, that I'm sure you'll get a good idea of what the area offers for families.

You might find this thread useful too: http://www.propertycommunity.com/forum/egypt...egypt-why.html

If you need legal advice we have a 'resident' lawyer who will answer any questions that you might have: http://www.propertycommunity.com/forum/egypt...rty-egypt.html.

If you have any questions about finding your way around the forum please ask one of the moderators at any time - either myself (Linda), Alison (Queenie) or Lyndsay.

Best wishes
Linda

[samui13]

Hello again.

Marsa Alam, is at the moment very resort based. There is nothing to do outside of your hotel. Generally we base our holiday around the sea (since we dive).

If you tend to go on holiday to big resorts all in, then I think Marsa could be the place for you. However, if you like eating out, walking down through the local town and day trips to Blah blah blah, then Marsa probably isnt for you. However, having said that, the resort wont be ready until end of 2010 (which will probably end up being middle of 2011, there is going to be a lot more in Marsa Alam by then. i would say in ten years it will probably be well on its way to being a little hurgharda. It really depends how much time you want to spend out there. Most families may be content with two weeks by the sea (the snorkelling should be fantastic there). i stayed two resorts along the coast and we saw a dolphin swimming along 30 metres from the shore!!! small sharks too. It really depends on your family personally. I have read that Libra are planning a massive developement with a water park and everything. Also Luxor is not that far so there is also the Valley of the Kings (but I can imagine you would only want to go there once). If you definately want lots to do then I would say your safe bet is hurgharda, however (hopefully - and this is a risk) if Marsa does get developed heavily, we will have got in early at the good prices, whereas in hurgharda now, you get what you pay for and there arent many bargains to be had). We dont feel we are taking a risk since we really dont care if Marsa gets developed or not, but if you definately want a town with lots to do go for the safe option and then you are guaranteed to get what you want).

Hope this helps.

lou

[kc67]

Originally Posted by chriscross34

thanks Goldberg, will compare their rates. Hi kc67, its Alison isnt it?

Hi Chris - No, Alison is Queenie40something; I'm Karen
Hi Goldberg - I used HiFX to send over my reservation fees and found them very good.

[chriscross34]

sorry Karen, not been on the site much recently, obviously forgetting..

[kc67]

Originally Posted by chriscross34

sorry Karen, not been on the site much recently, obviously forgetting..

Don't worry about it Chris - it is quite difficult until you get to know who everyone is, I still struggle at times too . Work has been quite hectic recently so not posted as much as I would like to either, but still take a peek now and again to keep in touch with developments.

[reynolds]

Everybody has the personal views and reaons for buying, i bought in Zafarana i was keen on useing when i want i love the sea and beach. Ours is 15 minutes from the beach, the rest of the time it as a guarented rent i have ti give two months notice to use. We have a three year old son so this system suits us, we here good comments, and comments like why buy there, there is only a desert to look at. Am not bothered what comments i get we are very happy with our choice, so good look everybody with your buy.

[reynolds]

Sorry 15 meters from beach