Hi Everyone, just thought i'd introduce myself i have just put a deposit down on a sea front property in Marsa Alam, it is due for completion in Nov 2008.

One of the reasons i chose Marsa Alam is because i love my diving and as yet this area hasn't been dived as much as Sharm etc. i also chose it because there is going to be alot of development but it is going to be hopefully kept low rise etc. There is a marina being built 2 minutes away. I'll be using it for holidays and letting family and friends use it but i'll also be renting it out. So it is an investment and hopefully i'll make some money long term but a bit more than that also

It's got 2 bedrooms and a roof terrace and also sea views all for £32500, i'll keep you posted with developments and problems etc that i come across so others can hopefully learn from my experience. Also if anyone has any advice they can give then i'd be happy to hear.

Hopefully this link will work, this is the property, a fully furnished package including air conditioning is available for £5k when the apartment is completed

http://www.findaproperty.com/display...&agentid=05421

I can't speak highly enough of the agent at City & Urban

Hi Muzz.
We have bought an apartment in Hurghada last year off plan, got the keys this june, Fantastic. looks like the market is going up fast as we only paid £30K that was for everything furniture etc: our apartment is a 2 bed 106 square metres, We are looking for property in Marsa Alam should the prices be ok due to Marsa Alam not having alot to do and alot of desert.

Hi Muzz

Any news on how your apartment is coming along. Just had a look at the web-site and it looks OK.

I'm interested since I may buy a plot and build something.

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Hi Everyone, it seems like it's going along ok, to be honest i've kind of just let them get on with it. Every month i get sent update photo's i tried to post the URL but the forum won't let me


Has anyone been through the registering process after the property has been built, i know it's 3% of the cost but as i understand it most people don't bother, i'd feel happier to get it registered though.

Hi Muzz

There are already some threads on registration.

It would seem that the 3% cost has changed and is now a much lower fixed fee.

Have you been given a copy of the land deed yet that proves that the person selling to you actually owns the land.

It also seems that the market in Egypt is still a little young to have many people with completed properties that wish to share their experience.

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Hi Dave,

Yep got all the deeds etc

Muzz

Being a bit "developerish" now.

Does the deed give the exact location of the land and the price paid for the land, with previous owner name and date he bought the land.

If so do you feel like sharing.

I'm interested in buying a plot in Marsa alam hence the question.

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I'll have a look and get back to you, i'm not going home tonight but i'll check it out tomorrow night

Hi every body, this is my first post, I am new to this business, but I should tell you I have a huge passion for it. Concerning the property market in Egypt, specially in the seaside cities, more specifically in those on the Red Sea, the market is growing monosterously. I believe we are creating the history of these cities at this time.

I really hope you're right, it's exciting but it is stepping into the unknown. You have to take some gambles though or where's the fun in life