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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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maintenance fees in Egypt - Page 2

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  #11  
Old 28-10-2007, 08:53 PM
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Originally Posted by ********* View Post
Hi suleder is supposed to be £200 per year however I have seen them now advertising at £400 per year so well see,maintenance should be minimal for at least 2 years.
£400 pa look nearer to the "norm" maybe they have made a mistake at the original £200pa
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  #12  
Old 28-10-2007, 09:21 PM
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I think your right however that is what they told me so well see mine will be ready end of march I wont cry if its £400pa
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  #13  
Old 29-10-2007, 04:20 PM
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I think the annual maintainace charges are the biggest con of all.
I pay 150 le for maintainance in my apartment block per month.
There are 16 units here...ok not big..but for this i have a large pool which is cleaned twice sometimes more a day
and is checked regular by the chloren guy.
We have 24 security and is cleaned constantly..it covers the out side lights bell boy etc.

We also have a part villa on Mubarek 7 where an English developer is charging £850 a year...just to clean the pool and 24 belboy...how do they get away with it.
There is a charge of £120 when you buy on mubarek 7 to join the residents unity which covers the general maintainace of the area this is a ONE OFF payment.
All i can see is that the developers see the annual charges as an excellent additional income


Ex-Boltonian living in Hurghada
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  #14  
Old 29-10-2007, 04:38 PM
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Default Good to see real numbers

Quote:
Originally Posted by Redsea Furniture View Post
I think the annual maintainace charges are the biggest con of all.
I pay 150 le for maintainance in my apartment block per month.
There are 16 units here...ok not big..but for this i have a large pool which is cleaned twice sometimes more a day
and is checked regular by the chloren guy.
We have 24 security and is cleaned constantly..it covers the out side lights bell boy etc.

We also have a part villa on Mubarek 7 where an English developer is charging £850 a year...just to clean the pool and 24 belboy...how do they get away with it.
There is a charge of £120 when you buy on mubarek 7 to join the residents unity which covers the general maintainace of the area this is a ONE OFF payment.
All i can see is that the developers see the annual charges as an excellent additional income


Ex-Boltonian living in Hurghada
Any idea how the annual fee is determined - do you get to see all the costs - who pays if there is any "big" item for repairs etc.

A low initial charge (first 2 years or so) is easy to "sell" the real test is long term - do you have any guarentee that fee will not jump in a year or so.

I have to agree that £850 to £1000 a year seems excessive and the people who buy into such developments must have money to burn, or did not have the sense to check this before they bought.

To "defend" developers (just a little) - maybe the initial charge cost is not really known (hence my questions) and there will be a "pool" of money to work with over time, not just for the first few years when cost should be low, also potentially, if there is a "club" the excess can be re-paid at some point as long as it is ceratin that the money is not needed.


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  #15  
Old 29-10-2007, 05:16 PM
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Ok...if the developers built correctly there wouldn'nt be any extra costs for any work.
if the development has just been built why would there be any "big work ".
the MAINTANCE COST should cover the funds for the maintance of the building which shouldnt need repair work if only just constructed.....and living here the costs of wages to employ staff to clean etc is minimal.


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  #16  
Old 29-10-2007, 05:34 PM
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Default How do you decide what to pay

How do you decide what to pay.

I assume that someone works out an annual budget for likely costs, then they add in something for "unknowns" and divide by the number of people who pay, make an allownace for those who do not pay and come up with a figure. If that is too low the you run out of money, if it's too high you have a surplus which you can decide where to spend.

Assuming that you start with a perfect building I agree there should be very little to do for 2 or 3 years. After 3 years or so who pays and how much.

Do you get to know all about your costs or not.

Do you have any lifts.
Do you have mains water & sewerage
Do you have any shared garden furniture
Do you have any "common" facilities such as bar, garden, car park, roof area etc.


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  #17  
Old 21-11-2007, 10:36 AM
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Default £800 Annual Fee for a 1 bedroom apartment - Hurghada - ouch !

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Originally Posted by grays4u View Post
Having purchased in jan i was aware that the service charges where looking quite high on some developments £600/700 for 1 bed a little more in sahl.I think this is quite high as we know wages and the cost of living is very low and i think if you add this up on the number of units theres is a lot of profit being made. i have noticed a trend with properties in the low wage markets to charge as much as the uk buyer will pay and i do not think this is a true reflection of the costs. however my development is a more sensible £200 for a 1 bed and that includes the laundrey service on a development next to dessert pearl same builder. I think this a true refection of what this charge could be as these charges have been caculated in egypt by an egyption company and i am sure they will still make a heathly profit
Just seen an ad for new development due to be ready 2009/10 which is asking for £800 annual maint fee for a 1 bedroom apartment in Hurghada - is this realistic - seems to be based on a percentage of the apartment cost, which is expensive for Hurghada.

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  #18  
Old 23-11-2007, 02:05 PM
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Is it not possible for all the owners of the development to form their own pot for maintenance charges?
In other words take control of looking after the development by forming a residents commitee ,after all the developments are freehold and collectively belong to the investors.
I think we will see a sharp rise in maintenance fees once purchasers move into their developments as its going to be a big money spinner especially on the larger developments.
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  #19  
Old 14-01-2008, 08:54 AM
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As there are people that are buying in other areas and not just Hurghada I have renamed this thread.
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  #20  
Old 14-01-2008, 08:59 AM
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Default Sierra Nabq Bay Sharm

Hi all

Our maintenance fees are as follows:

1 bed apartment - 55sqm = £1500
2 bed apartment - 110sqm = £3000

Maintenance fees are paid only once in a lifetiine on handover and are refundable upon selling.

The new owners then pay £1500.
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