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New construction left half, inklisive Land Ground floor: 1 bedroom, 1 bathroom, 1kitchen/living room. Upper floor: 3 bedroom, 1 bathroom, 1 Storeroom –washer. Top floor: 125m2 Dachterase Selling 600.000 EGP (Egyption pound) = 80.000 EURO(Roh construction) price depending on the exchange rate The purchase price includes the 450m2 of land. No Broker fees. Directly by owner Visit the all year round. For questions, Amir Waheeb Tel: 0020124161809 Phone (English, Arabic). I am happy to build the villa as you wis . email:Waheeb.amir@yahoo.com
Posts: 26 | From: Hurghada | Registered: Jan 2010
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600,000le is too much to pay for an unfinished villa. Do the sellers not realize there is an worldwide real estate crisis. Their greed and ignorance of real estate is why most of Hurghada's villas and flats sit on the sales market for more 3 years.
Over 95% of the homes listed for sale in Hurghada have sat on the market minimum 1 year, some a lot more. NO ONE IS BUYING...Bring down the prices.
On the other hand *smart* business men like Orascom the builders of projects like El Gouna, gets it, they are currently selling *Finished* villas with 5 year payment plans in Makadi 135m2 starting at 400,000le 52,000 Euros FINISHED!! in a planned community, already phase 1 is completely sold out in 2 months. Now that's how you market real estate in crisis...learn from that!!
Posts: 12 | Registered: Jun 2009
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Well,i have to agree with villahurghada,it makes economic sense to learn from the crisis we are going thru,hope the rest follow suit! Posts: 998 | From: UK,Egypt,east and central africa..... | Registered: Oct 2006
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Foe 5 million euros,i would not invest in one house in egypt but a hotel in London!thank you you very much. Posts: 998 | From: UK,Egypt,east and central africa..... | Registered: Oct 2006
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quote:Originally posted by villahurghada: Do the sellers not realize there is an worldwide real estate crisis. Their greed and ignorance of real estate is why most of Hurghada's villas and flats sit on the sales market for more 3 years.
not only Hurghada and not always the fault of the seller but the agents, both too greedy. Many Estate Agencies websites are a great way to get a few belly laughs these days with the silly prices asked, more fool anyone that buys at these prices
Posts: 15090 | From: http://www.egyptalk.com/forum/ | Registered: Jul 2004
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Mr. Waheeb it is factual that there is an world wide real estate crisis. I will assume you advertise on this site as you wish to attract Europeans, for example. Imagine that in order for them to pay *cash* for this unfinished villa, they must first sell their homes in Europe.
You do need to be educated to know that many homes in Europe and America lost their value, therefore they will not make as much from the sale, to pay cash or its not really worth it when at this moment you can find homes in America that cost less than this.
See this link for example, a finished home in a Florida compound for only 358,000le
Do you and the seller get a sense of how big this crisis really is?? Now mind you in America and Europe they are able to get 15 year payment plans, so really what is the incentive to come pay CASH in Egypt for something that is UNFINISHED and MORE EXPENSIVE than developed countries.
There is a crisis, and until you learn how to market in a crisis, your home will be for sale for a very long time, believe me.
Posts: 12 | Registered: Jun 2009
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Crises occur only when people borrow money at a bank. Those who paid cash as I never come into a crisis. So always buy bar just as I do. Real estate is always safe and well. This is all on this issue. Thanks. . . I Sale also Cash. 125m2 apartment in a villa Mubarak 7 Ground floor apartment: 2Bedrooms, 1 bathroom, 1 open plan kitchen / living room. Separate entrance 3 air conditioning Double glass with gold bars. 350m2 of land included in the price. Swimming pool and grounds belong only to this apartment and can not be used by others. No Broker fees. Directly from the owner. Selling 465.000 EGP (Egyption Pound) = 62.000 Euro depending on the exchange rate. For questions Waheeb Amir Tel.0020124161809 (English, Aabisch). The apartment can be visited all year round since I live in Hurghada. Available: immediately
Posts: 26 | From: Hurghada | Registered: Jan 2010
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quote:Originally posted by waheeb.amir: Crises occur only when people borrow money at a bank. Those who paid cash as I never come into a crisis. So always buy bar just as I do. Real estate is always safe and well. This is all on this issue. Thanks.
a crisis occurs when you pay way over the market value for a property then try to sell it again at an inflated price, as you did??
Real estate is NOT always safe and well, as can be seen when one takes ones head out of the sand Posts: 15090 | From: http://www.egyptalk.com/forum/ | Registered: Jul 2004
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quote:Originally posted by villahurghada: Now mind you in America and Europe they are able to get 15 year payment plans,
Actually 15 year mortgages (real estate loans) are not that common in the US for first time home buyers. The average person opts for a 30 YEAR loan and then usually does a 15 year at a refinance after there is a significant amount of equity in the home. That is, if they did not already take out a home equity loan or line of credit thus further depreciating the resale value of the home (and in some cases making the loan amount more than the home will appraise for - meaning they will end up owing money even after selling the house leaving them flat broke and unable to afford a down payment on another home).
Posts: 1626 | From: whatever, wherever | Registered: Jul 2008
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My tip do not talk much. View real estate. then pay cash and ready. People talk a lot never buy real estate. My experiences.
Posts: 26 | From: Hurghada | Registered: Jan 2010
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quote:Originally posted by villahurghada: Now mind you in America and Europe they are able to get 15 year payment plans,
Actually 15 year mortgages (real estate loans) are not that common in the US for first time home buyers. The average person opts for a 30 YEAR loan and then usually does a 15 year at a refinance after there is a significant amount of equity in the home. That is, if they did not already take out a home equity loan or line of credit thus further depreciating the resale value of the home (and in some cases making the loan amount more than the home will appraise for - meaning they will end up owing money even after selling the house leaving them flat broke and unable to afford a down payment on another home).
Without being technical,I just mean they don't have to pay cash.
quote:Originally posted by waheeb.amir: My tip do not talk much. View real estate. then pay cash and ready. People talk a lot never buy real estate. My experiences.
Not true, I bought 2 full villas, One I made 2 half villas, and one 4 flats DIRECTLY from Abu Nasser for 800,000le 5 years ago. This was when the dollar was 7.5 le exchange rate, and real estate was still booming in America..before the crisis.
Now you are trying to sell an unfinished half villa in Mubarak 7 for 800,000le, you didn't finish it or anything, just increase the price by 300%...that's called GREED, not business sense. I was around when these villas were 175,000le for the half unfinished..given that the world market is WORST off than it was 5 years ago, you would think people will try to at least break even I know many Americans and Europeans are taken a LOST, there is nothing wrong with breaking even, or even lowering the profit magin to within reason.
Obviously you don't need the money, as you paid cash, so you can afford to wait another 4 or 5 years to sell it or can you?
Further I use mine for rental income, a bit more stable as the rental prices can be adjusted according to demand, I'm not into flipping property for profits, Ayisha is correct Real Estate is NOT stable, cash or bank financed.
Posts: 12 | Registered: Jun 2009
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I am looking for help from an expert in realestate, i am looking for 2 bedroom flat from 100 to 125 m2 in either hurghada, sharm or dahab please let me know if anything is available you can contact me via email learnedmylesson@live.com or through egyptsearch
Posts: 199 | From: Here and there | Registered: May 2009
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To Mr. Waheeb Amir , with all respect to you , but people are too greedy in your area , The real estate crises is all over the world , Looks like there are thousands of Villas and Apartments for sale for over 3 years listed and every time i ask it is still available, And when I will decide to buy ready with my cash I will get the best price, The way you are doing sitting on these properties you loosing money and not making any money , And as per buy cash no finance , makes no deferent . In the USA I financed my house even though i had the cash to buy it for Tax reasons . I house is a Tax shelter in the USA , You get back every year form your taxes a big sum of money when i have a loan . You guys have to get more educated before you post BS on this site or other about what you learned in the streets .It is very important to know what you talking about , And I would like to know how long you have been sitting on this property where I see it all over the sites and with tons of adds with agents listing you property . I have contacted many agents and they know where I come from and what I am willing to pay where I am a buyer and will get the price meaning the market price and not what you guys are asking for. It will take at least another 8 to 10 years for the market world wide to get back , but not to where it was. Do you read about prime real estate properties in England they went 40 to 50% down below where prices where just to sell . Why because that is the market and the real prices of the properties. In other places in Egypt you can buy an apartment for $4000.00 Is that right correct me if I am wrong . I have friends Egyptians who tells me what they paid for there family to live in an apartment. Etc no matter what .The main thing is that crises are all over and Egypt too . It is your property and I will not tell you what to do with it just want to correct your GREED . Look at El Gouna prices are for finished placed luxury decent Villas are 52.000 Euros and even better prices for cash . many has offered me 10% discount for cash , but I will get the discount on the price I want to pay. Regards to all Sam311
Posts: 161 | Registered: May 2010
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People who buy, sell or rent are being greedy because they target stupid rich people... the times I have seen things for sale or rent on here twice the price that I have seen advertised locally is amazing. And granted, there are people who can afford it, it doesn't stop it being daylight robbery! Fools and their money are easily parted.
Posts: 11097 | From: Cairo | Registered: May 2008
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Does anyone thinks and I am sure that when i get there in a month time i will find a Villa where my price range is $125.000 to $150.000 . For my cash I can bargain on the price , I will spend a month try to buy a half Villa and if i will feel that they want to rip me off I will just buy a real small apartment for 120.000 EGP like i seen here advertised and wait till I find my real deal. They are kind of stupid greedy they have Villas for almost Three years in the market and unsold and they still wont bring prices down sell it and move on .People there never went to schools they do things the way others does . All real estate agents are telling me that for $150.000.00 I cant get a nice half villa or can but unfinished , I know they are all lairs they want to make the higher commission but hey they lose I will get there go on my own if they wont be cooperative with me and buy direct so no one makes any money. If any one knows about any property please let me know. Very best regards Sam311
Posts: 161 | Registered: May 2010
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Looked at this place not worth half that much, plus Amir is not knowlegable at all, paid 50LE for a 15LE cab ride then stuck us with the cabfare on the way back to Hurghada and then had the nerve to call me again, I obviously did not answer the phone. Almost forgot for a real laugh ask him about the pool that needs to be "moved".
Posts: 2 | Registered: Jun 2010
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The one whose business it is to build and sell, needs to sell really fast because he needs to show the shareholders he is working and there is money coming in. You cannot put a company "on hold", even an Orascom type.
While if you build just one villa, you can wait for the whole of your life with selling it - it will only appreciate in value. So you cannot really blame the Egyptians who got their sweet piece of land (perhaps with wages earned by kissing a...s in Gulf countries) and built on it and are now waiting to make perhaps their life's only and largest bit of cash with it... Why not wait until you get this money - either because someone wants to pay it, or because the market rises to it? Most likely it is not needed today anyway but goes towards financing the children's education or their marriages, after another 5 or 10 years. You do not have to buy, of course but you can understand, or what? While prices are often emotional things - you pay it because you like what you see/get and that's it! No one else can really argue about it, if the one who buys is satisfied. May be that Amir never rides a taxi then how would he know what it costs.
Not arguing, just offering another perspective... Posts: 1051 | From: Menoufeya | Registered: Feb 2005
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