Resales

[queenie40something]

Just had a response to above

The building is completed and the apartments are ready for immediate occupation.

The electric and water is on meter. I will have to check the cost per unit.

The maintenance charge for Sunny Lakes is EGP 75 per square so for these apartments the annual maintenance will be 65 x 75 = EGP 4875
regards

[queenie40something]

Please post here if you have anything that Lou is asking for. This is not a thread for agents to post to contact them.

[queenie40something]

Hi Lou - another emailed me today - Sharm Residence 2 bed very very high standard furnished £53,000 - this is on the ring road behind Sierra.

[enufsaid]

Hi - Have been curious for a long time now about this. With all the new builds going on in both Hurghada and Sharm, does anyone have any good news stories regarding the selling of their property. I don't mean in making a quick profit and then jumping quickly out (e.g. the speculator) but from ordinary people.
There are many new builds in Sharm and Hurghada springing up and just wanted to know if there will be a market for these 'old' properties of ours in say 5-7 years time. In other words - will they still be sellable?
Yours comments would be appreciated - thanks

[Rivermead Global Property]

Originally Posted by enufsaid

Hi - Have been curious for a long time now about this. With all the new builds going on in both Hurghada and Sharm, does anyone have any good news stories regarding the selling of their property. I don't mean in making a quick profit and then jumping quickly out (e.g. the speculator) but from ordinary people.
There are many new builds in Sharm and Hurghada springing up and just wanted to know if there will be a market for these 'old' properties of ours in say 5-7 years time. In other words - will they still be sellable?
Yours comments would be appreciated - thanks

I have sold a resale on DP2, not built yet but has been resold (well will be when the solicitors decide to speak to each other) had to wait for the contract to be translated in to Arabic, but almost there now and then just a matter of signing.

I think as long as you have bought wisely there will be a resale market.

Originally Posted by Rivermead Global Property

I think as long as you have bought wisely there will be a resale market.

I certainly hope so

[propertastic]

Most Europeans think that us English are crazy for buying property off-plan and are only interested in buying finished units - which means resales.

If anyone has any small but perfectly formed (i.e. not ridiculously expensive - studios are perfect) either firstline or with seaviews or in the good parts of town (i.e. El-Kawser) then please send me full details as we have clients with suitcases of Euros or dollars just waiting to meet you!

[distant dreamer]

Originally Posted by enufsaid

Hi - Have been curious for a long time now about this. With all the new builds going on in both Hurghada and Sharm, does anyone have any good news stories regarding the selling of their property. I don't mean in making a quick profit and then jumping quickly out (e.g. the speculator) but from ordinary people.
There are many new builds in Sharm and Hurghada springing up and just wanted to know if there will be a market for these 'old' properties of ours in say 5-7 years time. In other words - will they still be sellable?
Yours comments would be appreciated - thanks

Hi,

We purchased a resale property that was several years old in El Gouna a few years ago. At that time there were not hardly any resales available in El Gouna and there were only about half a dozen in our price range. Things have obviously changed now, with quite a lot of resales available, but many of the properties built earlier have the best positions and are in most demand. I also know someone who has purchased an off plan flipped property in Sahl Hasheesh. So some sort of resale market does exist already, but just remember location, location, location!

Regards

Penny

[britishegyptian]

Has anyone bought a resale property in El Gouna?
How do the prices compare to new developments there.
Which website or agent did they go through?

[Huda at pyramids]

Originally Posted by britishegyptian

Has anyone bought a resale property in El Gouna?
How do the prices compare to new developments there.
Which website or agent did they go through?

Dear Britishegyptian,
I can't say that I bought a resale in Gouna, though I have my info from a very direct source, which I can't share.
The advice I can give to you, is basically stay away from the developer. They have a tactic that keeps all the prices high, so they can push the prices of the off plan up and up and up. They don't do any resales as it is not in their interest. Simply because the profit of the off plan units and the commission for the salesteam is much higher so why would you even try selling a resales unit?

The best thing to do, if you are interested in resales. The best priced resales are under the table. Try to find persons who work, but more specifically life in El Gouna, Egyptians, Foreigners, it doesn't matter. And Talk!! just Talk, and let them know that you are interested in buying a unit. I tell you within 1 week, you've seen at least 5 apartments.
In Egypt it's very easy if you want some thing, or if you need something, tell your neighbours, specially went in comes to business or big things.
This way you do have to pay some commission, but it's like the 9% that the developer puts in his pocket. 6% from seller and 3% from buyer and on top of that a fee to reassign the contract.

Good luck,

Huda at Pyramids.