posted
Sharm Bride will increase the price on 25th June 2007 by 10% and to be paid over 24 instead of 36 months and discount on 100% cash payment will be 10% instead of 15%
Posts: 19 | Registered: Nov 2006
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quote:Originally posted by Sharm El Sheikh Real Estate: Sharm Bride will increase the price on 25th June 2007 by 10% and to be paid over 24 instead of 36 months and discount on 100% cash payment will be 10% instead of 15%
Why?? has the cost of labor done up? has the cost of materials gone up? What is the reason for this price increase?
Posts: 3809 | From: Paradise | Registered: Mar 2003
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What is this????An agency with a catalog of foreign brides available in Sharm El Sheik for desperate Egy men???? Posts: 1339 | From: Om Leito | Registered: Aug 2006
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1-The cement and steel prices went up in the past few months 2- Giant developers from the Gulf like Damac and Eaamar did buy in the suburb of Cairo a desert land to develop and they paid 350 GBP/m2 for the land which reflected on the whole market prices. regards
Posts: 19 | Registered: Nov 2006
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thanks tarek.....thats another 3k in the pot...keep it going.... ITS THE NEW SPAIN LOL.....ps can we have another increase in september/december/february....cheers
Posts: 31 | From: hull | Registered: Sep 2006
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Strange then how prices have not gone up in mainland Egypt, or are you saying now that there is a shortage a available desert for building....anyone flow over Egypt recently Posts: 3809 | From: Paradise | Registered: Mar 2003
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quote:Originally posted by tigersteve: thanks tarek.....thats another 3k in the pot...keep it going.... ITS THE NEW SPAIN LOL.....ps can we have another increase in september/december/february....cheers
Sorry Steve but that is what we accountants call an Unrealised profit..........so don't start counting it until its in your hands...... and that will be a long wait if ever. You are in a buyers market not a sellers.
Posts: 3809 | From: Paradise | Registered: Mar 2003
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the doom and gloom merchants are back!!! i thought the idea of buying off plan,gave cheaper prices due to the risk. the more progress the less risk-hence higher price. your hardly likely to buy a finished apartment for the same price as when someone bought a pile of sand.
Posts: 9 | From: leicester | Registered: Dec 2006
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hi penny.the LOLin my reply is short for Laugh Out Loud,....unrealised profit or not,i am very happy with an investment that cost me £25k,and now ( on paper granted ) is worth in the region of £35k......my glass is always half full ( not like some ),and i would hope that in its finished state,my investment will be double.to put in a nut shell,i took the risk,and will be over the moon to cash in later...so long may the increases continue.......LOL...regards
Posts: 31 | From: hull | Registered: Sep 2006
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ps....not to mention sharm bride is second line to the sea,therfore prime spot for resales....4th/5th line are now selling for same price as i bought,so i think i will be in a strong position in the "sellers market ".....
Posts: 31 | From: hull | Registered: Sep 2006
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quote:Originally posted by tigersteve: ps....not to mention sharm bride is second line to the sea,therfore prime spot for resales....4th/5th line are now selling for same price as i bought,so i think i will be in a strong position in the "sellers market ".....
Well lets keep positive and praying on the blue moon for that "sellers market" to arrive Tiger Steve because for sure it is non existant at the moment.
By the time we have run out of gulliable Brits making their oh so brave off plan investments, who exactly is it that you think is going to be queing up to buy your properties at your vastly over inflated prices.
Posts: 3809 | From: Paradise | Registered: Mar 2003
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hi penny...without looking through your posting history ,are you an owner of any property abroad.how can you say the sellers market is "non existant ",why do you think there is so much developement going on ,the real estate companies are "selling ",so you dont make sense.why ,as well do you call any brits who want to buy/invest in egypt as "gulliable ".?.....brits "making their oh so brave off plan investments "..are you real.whether its buying in the uk or sharm,its arisk.me thinks you have had a bad experience,( or jealousy )which is it.....take a chill pill.
Posts: 31 | From: hull | Registered: Sep 2006
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All I am saying is there is a big difference between the developers /agents selling and the owners who have bought from them at inflated prices subsequently being able to resell.
When you come and try to resell your property at a market price way above new off plan developments you will find out what your property is actually worth. They are not going to run out of desert in the short term and you can be sure they will keep on building because it's really not costing them very much. Have you seen what mainland Egypt property prices are like? You will be in competion to sell with the developers for a long time to come.
You cannot possibly compare the risk of investing in Eqypt with investing in the UK. So no I don't have a problem, am not jealous, I just suffer with having a great deal of common sense.
For anyone investing because they like the lifestyle in Sharm then it's a great move, but it's not Spain and doesn't have the same infrastructure.
For those just trying to make a quick buck on the property market then in my opinion alot of people are going to be disappointed as there is awful lot of hot air out there.
Posts: 3809 | From: Paradise | Registered: Mar 2003
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hi penny...nothing personal was meant....what you dont seem to understand is that,yes,developers are still building and selling,but the new builds are not in a prime location and are more and more likely to be 4/5th line and beyond,subsequently our "brave off plan investment "seem a safe bet.your personal assumption that all brits investing are "gulliable"is a slight that we are all thick .of course i know that they will not "run out of desert "to build on,but i repeat ,they will not be prime location.and yes it is the new spain,in as much as by comparison,the relativly cheap prices to buy now,will surely increase with new infrastructure and investment as did spain in the last 15 years.plus ,what has prices in mainland egypt got to do with prime land coastal prices,its a totally different thing.if you are not an investor or owner of property in sharm why do you respond on the forum,in a pessamistic ,negative way.why dont you be a little bit different to others on here,and actually be pleased for us that take a risk and actually make a few pounds.we ,probably like yourself,work damned hard for our money.hope you are not offended in any way by my drawn out reply,......regards,steve the thick gulliable,SKINT,WORRIED northern twat.....LOL
Posts: 31 | From: hull | Registered: Sep 2006
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quote:Originally posted by tigersteve: hope you are not offended in any way by my drawn out reply,......regards,steve the thick gulliable,SKINT,WORRIED northern twat.....LOL
No Steve I am not offended, we can all have our opinions and yes I agree you are right about the sea front properties. And whilst I didn't think any of those words about you in particular, you really did make me laugh By the way I have owned property in Sharm for the last 5 years so do have some grounds for my own opinions. Good luck, hope it all works out for you.
Posts: 3809 | From: Paradise | Registered: Mar 2003
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penny, is your property in sharm worth the same as when you bought it 5 yrs ago???
Posts: 9 | From: leicester | Registered: Dec 2006
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Penny - you have avery valid point about price increases - if you look at apartments etc in Hurghada for example they are very much cheaper than Sharm with the added advantage of being freehold!
OK Sharm is possibly more attractive to UK buyers but is that the reason for the increase.
If you bought at the right time and are sitting on a paper profit - good for you, my main concern would be the taxman (Egyptian).
Suppose most of you have seen the idict from HMRC here being a time limit to declare holiday homes abroad and how much you make from them!! Posts: 97 | Registered: Nov 2005
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hi penny,glad i made you laugh.life is too short,and too serious .i take most posts on this forum with a pinch of salt.far too much bickering and back stabbing for my liking.not enough constuctive advice and help,but too much of the other....lets all be happy for each other,in this stressfull time of buying property in a foreign country...its worrying enough without extra concerns arising from idle ,negative gossip......steve
Posts: 31 | From: hull | Registered: Sep 2006
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I agree with Penny. There is no resale market at the moment. Sharm is generally flooded with housing supply ( resorts,off plan developments and small secondary resale market.) When they are established and the causeway to Saudi is underway (lets see ), a resale market may gain some momentum. I have also lived here 5 years and any capital increase depends on purchaser confidence and "saleability". We bought a home and lifestyle rather than an investment. I am a confident prime london landlord and although the rental yields here are better, they don't come close to the profit of capital appreciation in the uk. For what it is worth, we bought in Delta, best address in Sharm. Life was too short for us to live in the windy building site of Nabq or Montazza !
The only way to make money in Sharm is in business. Buy to let or sit on and flip off plan is tuppenny ha'penny property investment. Serious gains won't be realised for another ten years. But even if you doubled your money in that time, if the property is as cheap as chips so is the profit.
Surely it's the life you live in this wonderful country that more than compensates for the bottom line ?
Posts: 2 | Registered: Jun 2007
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hi mac...yes got the pics.many thanks for taking the time to take and send on....this is what the forum should be about....regards,steve
Posts: 31 | From: hull | Registered: Sep 2006
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