Hi Thomas, I am in the same boat as you. I'm still not quite sure which appartments I have the choice of.
As regards rental, I had thought that the rental returns in the first 2 or 3 years offered by the Best Western Hotel Group weren't that great. From some research I have done, rooms are let for between 50 and out 120 euros per night depending upon time of year.
On average we know the return is about 10% of the purchase price averaged out over the 5 years. I googled some property rental companies in Eqypt and the main one I came up with is Uncoveredegypt . I emailed Amanda there and she commented that she always advises her customers to expect an average of 12 weeks rental with an approx return of 8%, so she said 10% on average is good. That said, she also remarked as some other posters have stated before that the purchase price actually includes an allowance for the 5 year rental.
In my mind, to buy a 2 bedroomed appartment in a luxury resort for around £30 - £35k doesnt seem bad at all.
I know alot of agents in other areas comment that Marsa Alam is very underdeveloped but that does not worry me. I think now is the time to buy.
Benidorm in Spain was once an unassuming fishing village in the 1960's, look at it now. Ok, admittedly, I wouldn't want Marsa Alam to be over developed but I think we are going in at the right time. 5 - 10 years and fingers crossed we should have a nice holiday resort with regular low cost flights
Chris
