Hello do you think the payment plans in Egypt will mature as they have in Morocco where I specialise in? at the moment in Morocco there seems to be 2 types of plan see below.

For example if you look at the typical the typical development in Morocco you will find the payment plans are 20% on contract 20% on start of build 60% paid by mortgage or cash on completion

2nd payment plan would be 15% on contract and then a further 10% the remainder of 75% is then usually paid by mortgage or cash..

I and most of my buyers & investors seem to prefer this type of payment plan as it is gives the buyer more time to save there money. It also helps if you are trying to gear your money i.e using the banks money not your own.

Does anyone think that the payment plans in Egypt will change? or does anyone know of payment plans that don't require so much money up front?

What are the best payment plans on the market?

I look forward to your responses.

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www.propertyborders.co.uk
http://moroccoproperties.blogspot.com/
Moroccan Hospitality With British Professionalism
NAEA membership number 47901

"Maturing" is not the word I'd use in this context. Different sure.

I have a "standard" payment plan, very similar to many others developers in Hurghada but so far not a single owner has used it.

Being the person that decides everything makes it easy to work out an individual payment plan for everyone.

If someone wants to pay most of the money "up front" then there's a discount, if a buyer wants to pay most towards the end of the build period then no discount - anything in between we can work out a "deal" that suits us both.

Simple really - maybe other developers don't offer this flexibility - maybe someone can offer their knowledge.

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In the absence of mortgages the only option open to clients is to pay for the property during construction in one form or another. The most important payment is the 30 or 40% on contract as this covers most of the Developers costs. Most will be flexible beyond this. In the case of completed apartments some will even hand over the keys with 50% paid and wait up to a year for the balance!
In Spain the classic payment scheme was 30% on contract 70% on mortgage; this then got diluted with many Developers opting to reduce the contract money to as low as 10% with a further 10% after 12 months and the balance by mortgage on completion. However, with the market now in serious difficulties banks have tightened up on lending criteria and the 'no money down' system preferred by many UK investors is getting harder to achieve.
Cyprus has a good system; one Developer asks for just 5% on Contract, 5% on completion and the remaining 90% by way of a Swiss Franc mortgage at under 4% interest. In this case the mortgage is cleared prior to contract and the Developer can immediately begin to 'draw down' on the mortgage. Interest costs incurred are added to the mortgage and paid over the term.

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

hi, this our payment plan for the Hyde Park project in New Cairo, the complation is for 2012,
- deposit 10% upon signing the unit reservation form,
- 1st installment 10% within 4 months of the reservation,
- 2nd installment 10% within 6 months of 1st installment due date,
- 3rd installment 10% within 5 months of the 2nd due date or completion of 5% of construction works in the cluster whichever comes earlier,
- 4th installment 10% on completion of 15% of construction works in the cluster,
- 5th installment 10% on completion of 25% of construction works in the cluster,
- 6th installment 10% on completion of 40% of construction works on the cluster,
- 7th installment 10% on completion of 60% of construction works on the cluster,
- 8th installment 10% on completion of 80% of construction works on the cluster,
- 9th installment 8% on completion and the 10th installment 2% on completion of snagging and hand over.

Thankyou for this; we've heard a lot about Hyde Park so now we know the full terms of payment. It looks great - will you be working in Cairo?

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

This is great guys keep the payment plans coming.

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www.propertyborders.co.uk
http://moroccoproperties.blogspot.com/
Moroccan Hospitality With British Professionalism
NAEA membership number 47901

Hi - payment plans for Sierra Sharm are

35% deposit
65% over 18 months in 6 postdated cheques
10% discount on 100% cash payment upon signing of contracts
10% discount for investors for a whole block sale of 6 units and above
15% discount on 100% cash payment for middle and ground floor

For Sharm Bride

30% deposit
70% over 24 months
10% discount on 100% cash payment upon signing of contracts
5% discount for a whole block

Carlton Resort Sharm

35% contracting deposit .
65% payment over 36 months to be paid by postdated quarterly cheques
10% discount on 100% cash payment upon signing of contracts.
10% discount for buying a whole building for investors
Delivery 24 months starting from contract date

Las Cabanas Marsa Alam

25% deposit, Balance remaining will be paid over two year's interest free.
7% discount for 100% cash in advance payment.
Special prices for multiple/corporate purchases.
Delivery will be after 24 months from the contracting date

By this I mean something not normally on offer - specifically to suit your personal circumstances

For example:

10% deposit then balance in 6 months or something.

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Why Dave is this something you are offering??

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www.propertyborders.co.uk
http://moroccoproperties.blogspot.com/
Moroccan Hospitality With British Professionalism
NAEA membership number 47901

This is a simple general question since I tried to do something a bit different once upon a time and got nowhere, so now that I'm the person who decides all the Ts & Cs I make a point of being flexible.

I'm sure there are other developers out there who "vary" but I suspect the bigger players are the least flexible - no idea really hence the question.

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