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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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  #1  
Old 12-01-2008, 10:08 AM
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Wink Has anyone bought in Sharm / thinking of buying in Sharm

Hi

I thought I would start a thread especially for any Sharmers out there.

Have you bought or thinking of buying in the Sharm region.

If so please post your experiences, thoughts, tips etc here.

Thanks

Queenie
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Old 12-01-2008, 11:15 AM
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Default Buying Process

To start the ball rolling

We have bought a 1 bedroom apartment with small garden in Nabq Bay in Sharm. It is a quiet resort but is up and coming. It 2nd line from the beach, 10 mins from the airport and 20 mins drive into Naama Bay.

It is on the Sierra resort which is next door to Sharm Bride. Currently the handover date is 28th Feb 08. The whole complex has a completion date of Oct 08.

The buying process is different here and it is on a 99 year lease. This may put some people off buying but the lease is renewable. My daughter is on the contract so if anything happens to hubby or I then the lease will automatically go to her at no cost. If you sell the property then the new owner gets a new 99 year lease at a cost of £1000.

I have been to El Tor to get my residents and multi entry visa along with the Power of Attorney. Cost was 83LE for the residents visa and 61LE for the multi entry visa which you get from the passport office in El Tor and the POA was 40LE which you get from the government building which is 2 mins drive away from the passport office. The return taxi drive will cost £15 ( if you need contact that knows where these offices are for this please let me know )

This is an easy process and it is an hours drive from Sharm. ( Any ? on this please ask )

One tip is to ensure you get a good English speaking Egyptian lawyer.

Ensure that you read through your contract that has to be in both English and Arabic.

If you do not understand anything in the contract ask your lawyer.

If you do not like anything in your contract ask your lawyer to discuss it with the developer. I have had a few things changed on mine without any problems.

Once you have signed every page of the contract it is then handed to the developer who in turn signs every page and then your lawyer will do the registration at the courts in Cairo.

Typical cost for a lawyer is £500.
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  #3  
Old 12-01-2008, 05:21 PM
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Oh queenie you're great but Sharm too far think you should sell up and move over to Hurghada with all of us.

Jayne xx
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  #4  
Old 12-01-2008, 07:40 PM
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Default

Quote:
Originally Posted by queenie40something View Post
Hi

I thought I would start a thread especially for any Sharmers out there.

Have you bought or thinking of buying in the Sharm region.

If so please post your experiences, thoughts, tips etc here.

Thanks

Queenie
As you know Queenie, we will be going over to Sharm 27th Jan to have a look around. We did like a few of the properties in Hurghada but nothing "jumped out" at us as what we really wanted so we will have a nose about in Sharm and see if anything strikes us as special.

Mark .Y.
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Old 12-01-2008, 10:24 PM
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Originally Posted by Mark .Y. View Post
As you know Queenie, we will be going over to Sharm 27th Jan to have a look around. We did like a few of the properties in Hurghada but nothing "jumped out" at us as what we really wanted so we will have a nose about in Sharm and see if anything strikes us as special.

Mark .Y.
Hi Mark - hope you have found a few to have a nose about at. Let us know how you get on. I gave u a few pointers in Sharm so will value your input on Hurghada and Sharm on your return.

Have a great trip.
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Old 12-01-2008, 10:27 PM
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Hi J4 - when and wheres the party!! Wish I could sell n come n join u all!
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Old 13-01-2008, 06:24 AM
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Originally Posted by queenie40something View Post
Hi J4 - when and wheres the party!! Wish I could sell n come n join u all!
It's only 90 minutes on the fast ferry. Surely you can pop over and see us all every once in a while!
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Old 13-01-2008, 09:44 AM
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Hi all - certainly will pop over and party with you all - as long as I can crash out somewhere : )

Mark - when you are in Sharm it might be worth you taking a look at Criss residence as this is in a prime location in Naama bay - right in front of fantasy land by the Movenpick hotel - now Maritim. It has Viking club and Dada bar and the developer Hesham El Hazeq is one of the most reputable developers in Sharm. Criss is within very easy walking distance of the main Naama bay area where you will find all the shops and restaurants and the prom where there is a public beach. 10 mins from the airport as well.

You prob told me before but where are you staying in Sharm?
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Old 13-01-2008, 09:48 AM
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Default Plans changed!!

I have just been onto my agents website and they have changed the plans on Sierra without telling me. This is now the 2nd time they have done this. I am not a happy bunny as the new plans now does not show a pool in front of my apartment - it has disappeared. The blocks where in a circle with the pool in the middle. Now it is an oblong shape with no pool just garden?? Agent has now got a not so nice email from me asking for explanation.
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Old 13-01-2008, 11:19 AM
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Default Weather webcam

see Colona Watersports Ltd. - Red Sea Kiteboarding Centres, Hurghada & Sharm el Sheikh click on Sharm then webcam for all up to date weather. Updated every few mins.
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