Oversupply of beds in Eygpt?

[Jonathanw]

Is there not going to be an oversupply of beds in Eygpt?
It seems like there are so many projects there at the moment...?

[Rivermead Global Property]

Originally Posted by Jonathanw

Is there not going to be an oversupply of beds in Eygpt?
It seems like there are so many projects there at the moment...?

Hi Jonathanw, they have been building in Spain for the past 20 plus years and only in the past few years reached oversupply. I think it will need to be addressed in the future but i feel it will be ok for the next 10 years or so.

Those that are buying now will have the more desirable properties as they will be closer to the beaches and amenities. The people struggling in Spain are those that have bought miles from the coast and facilities or on huge developments. If you think of places like Sahl that will be a gated resort, in 5 years time when the golf courses are finished, the other infrastructure in place how desirable are developments like Sunset/Red Sea Pearl or The Pyramisa Hotel going to be?

You can only build by the coast or a golf course once, the next will be second, third or fourth line.

[Jonathanw]

thanks very much for your thoughts, quite true, i suppose the moral is to search out the coastline early on!
have you any advice for me on my other post regarding Bali and Austria? Any help will be greatly received.
Thanks Jon

[Georgina]

Or if you look on Google Earth or drive from Cairo to Marsa Alam I think it will be a long, long time before we run out of front line beach development.

It is a shame the seats on flights don't seem to match the number of beds. I guess there are many flights a day to Spain rather than a few a week into Hurghada.

[Rivermead Global Property]

But how many were there to Spain 20 years ago???

[Rivermead Global Property]

Originally Posted by Jonathanw

thanks very much for your thoughts, quite true, i suppose the moral is to search out the coastline early on!
have you any advice for me on my other post regarding Bali and Austria? Any help will be greatly received.
Thanks Jon

Hi Jonathanw, you are quite right, research and get in while the going is good. I am afraid i can't help on the other posts, not areas i deal in and therefore would not like to comment sorry.

[vix]

Originally Posted by Rivermead Global Property

But how many were there to Spain 20 years ago???

Thats true, but you could catch a bus to Spain 15 years ago for £15.00

[Rivermead Global Property]

Originally Posted by vix

Thats true, but you could catch a bus to Spain 15 years ago for £15.00

Very true Vix, i will check bus routes to Hurghada now

[James Barnett]

Originally Posted by Jonathanw

Is there not going to be an oversupply of beds in Eygpt?
It seems like there are so many projects there at the moment...?

I beleive anywhere indicated as a region worth investing in will be flooded with property, purely because so called investors in the UK and Ireland buy holliday homes there, Thinking they will sell it on to people exactly like themselves when the truth is they are the end users. My advice is simple always find something under the market value that apeals to local proffesionals as well as tourism this way you can under cut the competition on long term rentals and thats the best garunteed rental i know of, Pluse when it comes to resale you can under cut again and be the first to sell, It works in all the other over built places like spain.
I would take a look at El Kawser Dreams if your still concerned about over supply

[vix]

Originally Posted by Rivermead Global Property

Very true Vix, i will check bus routes to Hurghada now

You may scoff, but in 1982 I caught the bus to Israel, well most of the way any way, as far as Athens. I simply stood at the bus stop, put my hand out and jumped on, kids in tow. It took 5 nites and 6 days and cost the grand sum of £64.00