I'm in 2 minds about whether they're "silly prices".

Initially, yes, very silly - for a mostly unproven tourist destination, at prices that only Europeans can afford and lets face it in a country that doesnt even have the infrastructure for tourism yet. Secondly, this is the entry price, prices in other emerging markets have risen to these levels gradually after several years, alongside the local populations wealth.

But, then on more thought, why shouldnt supposedly quite luxurious and well planned tourist accomodation in (almost!) Europe cost £100k. Its the effect of globalisation, a 2 bed appartment on the beach catering for European tourists costs pretty much the same everywhere. Bring into account the uber-rich Arabs and then even Saidia and Al Houara at up 3 times this price could be realistic.

On balance though, I do think as these are mostly tourist developments (not residential) and there are few tourists at present, paying such an inflated prices and hoping for anything other than a longterm profit is a bit ambitious.