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Egypt property The property market in Egypt is primarily focused around the Red sea and Mediterranean coastline. Property investors are also buying in and around the main urban hubs of Cairo, Alexandria and Luxor, The Egyptian governments pro-active policies for attracting overseas investment has created an economic climate geared for growth in the Egyptian property market. Do you agree? Please state your views and opinions here on our new Egyptian property forum.

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Will hurghada have oversupply of beds ? - Page 4

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  #31  
Old 24-12-2007, 06:29 PM
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Default Agencies do not seem to have a high profile yet

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Originally Posted by propertastic View Post
Here's a new rental agency that seems relatively efficient in my first dealings with them:

Red Sea Rentals ~ Self catering sea view properties and more ~
Agencies do not seem to have a high profile yet


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  #32  
Old 24-12-2007, 06:31 PM
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Default Strange story this

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Originally Posted by Redsea Furniture View Post
Yes ...the demand for rooms is a problem at the moment.
My sister came out on the Tuesday Thomas cook flight last week and when she was flying back we couldn't understand the times on the ticket.
When we called into the office here we were told that because of lack of rooms they were combining flights...her flight flew to gatwick..dropped off then flew on to manchester
Strange story this.

The local view is that due to lack of hotels the tour companies switched to other resorts which then caused a small glut of rooms again - bit odd if true.

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  #33  
Old 24-12-2007, 06:33 PM
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Default Hotels are different

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Originally Posted by ********* View Post
I think demand is there now,I was talking to a friend of mine who is a manager in the red sea hotel chain,he assured me there's no rooms available at christmas as the dutch usualy book them up.
I didn't really discuss any other parts of the year but I think Hurghada and the surrounding developments will become very popular throughout the year.

Hotels rooms are different. It's very easy to get lots of web-site to bool / promote hotels that have already been classified and checked for safty etc.

Apartments from lots of different owners is very much more difficult sale.

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  #34  
Old 24-12-2007, 06:35 PM
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Default Difficult concept to put into practise

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Originally Posted by Peter Mitry View Post
If any travel agents are reading this there must surely be a huge opportunity to harness the growing number of apartments being built and formulating a scale of pricing which could help both the travel industry and the property owners who wish to rent?
Difficult concept to put into practise.

UK Travel agents are too big to be interested until a smaller organisation starts the ball rolling and seems to be making money.

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  #35  
Old 24-12-2007, 06:37 PM
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Default Flight problems

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Originally Posted by ********* View Post
Well looking at recent comments, will there be an over supply of beds in Hurghada? if the hotels are fully booked this month then maybe not.
However there maybe a shortage of flights.
Flight problems are always going to be the biggest single issue - if people create the demand then the prices will stay high since they obviously will sell the seats.

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  #36  
Old 24-12-2007, 06:40 PM
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Default

Dave99 is right; most professional rental management companies would want to be sure that the requirements of the British market, and other European markets, have been fully adhered to and that health and safety requirements have been met. Distantdreamer recently raised an issue which came up in El Gouna concerning the minimum height for balconies.
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  #37  
Old 24-12-2007, 06:40 PM
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Default Not a big risk anymore

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Originally Posted by hiszein View Post
don't forget the UK market , even it happens I don't think that 30k is big capital
for me I will take the risk , or maybe I can keep it for my holidays
Not a big risk anymore in Hurghada with prices moving upwards and projects being completed.

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  #38  
Old 24-12-2007, 06:42 PM
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Default Not much security risk in Hurghada

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Originally Posted by ********* View Post
I think when a new holiday destination gets better known slowly people start trying it out ,if Egypt stays cheap and good as it is at the moment people will come,I think people are a bit worried about terror but I think this part of Egypt to be very safe.The security in Egypt as a whole is quite good.The sun is here year round the sea is warm the food and drink is cheap what else do you want? Maybe needs a bit more promotion but everything else is here.When it gets busy busy busy this amount of beds will not be enough.Look at other european destinations.
Not much security risk in Hurghada - seems to be in other areas.

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  #39  
Old 24-12-2007, 06:47 PM
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Default Rental packages via the developer maybe helpful

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Originally Posted by Peter Mitry View Post
Dave99 is right; most professional rental management companies would want to be sure that the requirements of the British market, and other European markets, have been fully adhered to and that health and safety requirements have been met. Distantdreamer recently raised an issue which came up in El Gouna concerning the minimum height for balconies.
Rental packages via the developer maybe helpful here.

The schemes that give owners a rental income seem to "die" after being sold - there have been many schemes on offer to buyers but I've not seen much evidence of actual advertising of the resorts to get the visitors in.

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  #40  
Old 24-12-2007, 07:13 PM
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Default How much is for non-tourists ???

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Originally Posted by sdgc View Post
I think that you are right, with the vast ammount of property being sold most of it to rent out, eventually supply could outstrip demand.

How much capacity is for non-tourists ???
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