Do you guys ever have anything positive to say?
Any new mortgages in Egypt have to be good news for investors. Of course ,a 65% mortgage won't help much if you have to pay 90% up front, as required by certain developers in Hurghada

The truth of the matter is that you have been able to buy apartments on 60% finance for at least six months in both Hurghada and Sahl Hasheesh.

My comment was that, if this has been available for so long, why would the announcement of a mortgage package for the Resort Alliance product in Sahl Hasheesh do anything to generate further sales.

Sales for RA were great at the start of the year, and they got greedy and put their prices up every month. Sales at Sunset Pearl were even better because they had a mortgage product, so RA put their prices up even more!

Now, RA have had to take their availability off-line, because everybody can see that their prices are way too high, and everybody could see (but not anymore) that they are just not selling anything. A mortgage product is not going to solve their dilemna - "do we put our prices down to reasonable levels, or continue to overcharge for our product?"

The best units in all their developments have gone. The investors who were in early enough are very happy, but what´s left would not attract me at half the price.

It´s a fantastic development, but I wouldn´t borrow 50% more than I need to, to get in there.

Andy

Be amongst the first to view the new Sahl Hasheesh Website with individual DVD's for each project and a great FAQ section. There are also up to date photo galleries. Congratualations to Resort Alliance on a job well done! Just click on: Premium Resort Sahl Hasheesh - Ägypten* - sahl-hasheesh.com *Home.

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PROPERTY SHOP INC. International Property Brokers
EGYPT REAL - Your One Stop Shop for Hurghada Property

link dont work

Its working for many people including me! Is there a problem with your computer? Anyone else experienced problem?

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PROPERTY SHOP INC. International Property Brokers
EGYPT REAL - Your One Stop Shop for Hurghada Property

peter, Thank you for the mortgage information; looks like a perfect opportunity.
thanks
David

Andy

Get your facts right! The price per m2 in Sunset Pearl has always been higher than any of the RA projects, despite the fact the Sunset Pearl is not even front line.

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PROPERTY SHOP INC. International Property Brokers
EGYPT REAL - Your One Stop Shop for Hurghada Property

Can´t get into the RA extranet to check it, but will take your word for it.

Sorry

Andy

Hello People,

Myself and a group of friends are going to Sahl Hasheesh early in the new year to look at investment opportunities.

We are after a long-term investment with some sort of rental guarantee or a pooled revene system in place with a manging company at the resort.

My first question, is it to late to invest in Sahl Hasheesh, what is still available? and what kind of prices are we looking at?
We were looking to invest up to 40k, will we be able to get anything for that much, i understand that the prices are relatively high in this area, but we all know why, no need going down that road.

I know Pyramisa are selling Hotel rooms for 40k. Has anyone checked this Hotel/Resort out?

Second question, could anyone advise on how we approach the developers/agents whilst we are there?

Your comments and support in this matter would be highly appreciated.

Thanks.

Ash.

Hi Ash,

You really need to get yourself a copy of Propertastic's Complete Guide to Hurghada Property and Egypt's Red Sea Real Estate. You can find out how to download it at:

propertastic.com/hurghada/

The Guide is available free until Monday 17 December when the printed version is released. After that time, it will only be GBP5 or free to buyers of the printed book.

We cover Sahl Hasheesh in great details there.

It definitely is not too late to invest in Sahl Hasheesh. The people who come to TotallyProperty are the most clued-up of the clued-up when it comes to overseas property investment. For every one person who comes here regularly, there are another 50 "herd followers" for whom Sahl Hasheesh will be 'the next big thing' some time in 2009, I imagine.

It's a massive project. I would imagine that only about 25% of the land is under development and actively being marketed at the moment and probably only 20% of that 25% has been sold to date. Which means that around 95% of it is still available.

Property in Sahl Hasheesh is on sale anywhere from GBP700/m2 up to around GBP1100/m2 at the moment.

By Hurghada standards it is expensive. Compared to just about anywhere else in the world you could care to mention, it is still very cheap.

40K is not a great deal of money though, unfortunately. Your options are going to be limited at that price, especially if you need to furnish the place within that budget as well, plus your legal costs.

I would suggest you look at Paradise Gardens. They have some 47m2 studios for GBP32,850. Apart from the Pyramisa hotel offer, this is the only development I know of that you could get for your budget.

You are better off doing your research before you head out. Start Googling 'Sahl Hasheesh', 'Paradise Gardens' and Pyramisa and see what you come across. Speak to a few different agents. Some will have different prices, some won't know what they are talking about. Be selective and work with someone who seems efficient and is able to answer your all your questions.

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EGYPT REAL - Your One Stop Shop for Hurghada Property

Author of: Propertastic's Complete Guide to Hurghada Property and Egypt's Red Sea Riviera Real Estate