Marsa Alam

[hhermani]

Thanks Lou, I have been to Marsa myself once, my wife twice and we'll be heading there again in a weeks time. We are divers, we like the underwater world, we like the quiteness.
The reason for us to buy is lifestyle as well. But the only concern I have is, when you want to sell it, how to sell a appartment in a resort. After 5 years, you've 50% of your money back, so effectively it would could you 22k euro.

When is the scheduled finish date of the project ? And when does the guaranteed rental income start ?

Han

 

[johnnyM]

Hi Lou/Han

You both seem to know the area quite well.

Is it suitable for families ? We have three young children and we are looking for a holiday home and investment.

We would prefer something quiet but with some things to do for kids. I thought a resort like this would be good if it is all on site.

Have not been to Egypt yet, where would you suggest is best ?

We are looking at either Hurghada or Marsa Alam, or are we way off course here!

I think the scheduled end build time for the Marsa Alam beach resort is sometime 2010.

Jon

 

[Lsab]

Hi Jon and welcome to the forum. Have you had a chance to have a look around yet? One of the best ways of getting questions answered is to post a little about yourself on the Introductions thread. It gives us a chance to 'meet' you and your family and gives you a chance to 'meet' lots of the members. Everyone is very friendly and the advice and information you'll get from people here is excellent. I know that you're interested in Marsa and this is an extremely informative thread. You also expressed an interest in Hurghada. There's so many threads on the developments there and Hurghada in general, that I'm sure you'll get a good idea of what the area offers for families.

You might find this thread useful too: http://www.totallyproperty.com/egypt-property/6928-where-have-you-bought-egypt-why.html

If you need legal advice we have a 'resident' lawyer who will answer any questions that you might have: http://www.totallyproperty.com/egypt-property/6847-legal-procedures-purchase-property-egypt.html.

If you have any questions about finding your way around the forum please ask one of the moderators at any time - either myself (Linda),Alison (Queenie) or Lyndsay.

Best wishes
Linda

 

[samui13]

Marsa Alam for families????

Hello again.

Marsa Alam, is at the moment very resort based. There is nothing to do outside of your hotel. Generally we base our holiday around the sea (since we dive).

If you tend to go on holiday to big resorts all in, then I think Marsa could be the place for you. However, if you like eating out, walking down through the local town and day trips to Blah blah blah, then Marsa probably isnt for you. However, having said that, the resort wont be ready until end of 2010 (which will probably end up being middle of 2011, there is going to be a lot more in Marsa Alam by then. i would say in ten years it will probably be well on its way to being a little hurgharda. It really depends how much time you want to spend out there. Most families may be content with two weeks by the sea (the snorkelling should be fantastic there). i stayed two resorts along the coast and we saw a dolphin swimming along 30 metres from the shore!!! small sharks too. It really depends on your family personally. I have read that Libra are planning a massive developement with a water park and everything. Also Luxor is not that far so there is also the Valley of the Kings (but I can imagine you would only want to go there once). If you definately want lots to do then I would say your safe bet is hurgharda, however (hopefully - and this is a risk) if Marsa does get developed heavily, we will have got in early at the good prices, whereas in hurgharda now, you get what you pay for and there arent many bargains to be had). We dont feel we are taking a risk since we really dont care if Marsa gets developed or not, but if you definately want a town with lots to do go for the safe option and then you are guaranteed to get what you want).

Hope this helps.

lou

 

[kc67]

thanks Goldberg, will compare their rates. Hi kc67, its Alison isnt it?

Hi Chris - No, Alison is Queenie40something; I'm Karen
Hi Goldberg - I used HiFX to send over my reservation fees and found them very good.

 

[chriscross34]

sorry Karen, not been on the site much recently, obviously forgetting..

 

[kc67]

sorry Karen, not been on the site much recently, obviously forgetting..

Don't worry about it Chris - it is quite difficult until you get to know who everyone is, I still struggle at times too . Work has been quite hectic recently so not posted as much as I would like to either, but still take a peek now and again to keep in touch with developments.

 

[reynolds]

Everybody has the personal views and reaons for buying, i bought in Zafarana i was keen on useing when i want i love the sea and beach. Ours is 15 minutes from the beach, the rest of the time it as a guarented rent i have ti give two months notice to use. We have a three year old son so this system suits us, we here good comments, and comments like why buy there, there is only a desert to look at. Am not bothered what comments i get we are very happy with our choice, so good look everybody with your buy.

 

[reynolds]

Sorry 15 meters from beach

 

[P Greenwood]

Hi everyone - have spoken to my agent today. There was apparently a problem with the due diligence paperwork which caused a delay. Hopefully contracts should be out soon though. Has anyone else heard anything??

 

[cin7166]

I got an e-mail from IPI stating they are waiting for an environmental report required by the Egyptian government, seemingly a new law which has delayed things. They have said the contracts are likely to be out by end of May and money to be paid mid June.

 

[P Greenwood]

Thanks for that. Have chased my agent and got a copy of the email!! Seems IPI had my email down wrong.

 

[grahamgman]

marsa alam beach resort

Hi . i am totally new to this- forums and property investment.
I am about to buy a junior suite in Marsa Alam Beach resort and wondered if anyone else has already invested or has any advise. It all seems to be very straight forward but i am obviously concerned that we are not just about to become easy prey for dodgy developers , lawyers etc?:eek

 

[samui13]

Hi there and welcome. There is already a thread on marsa alam (including marsa beach report). I have replied to that thread so hopefully this will have bumped it up to the first page for you. If you scroll back through the pages there is quite a bit of information on there from when we all started putting reservations down. You will see that there are quite a few of us buying there (at least 10 I would say).

We are all pleased with the plans etc. Contracts arriving are a little slow but I think that can be said for most projects in Egypt. Have you been on eyeonworldwide to check out the threads on Zafarana. In general the people purchasing there are pleased with the developer (its the same developer as marsa). They are having a few gripes but these are to be expected.

Anyway good luck hope all goes well.
cheers.

lou

 

[samui13]

Marsa Alam beach resort

Hi all, may be old news for you but I have been advised that contracts are being sent this week (in order of reservations). Mine was due today but is not here yet - i think they are coming by post. Expect yours in the order you received your phonecall (so today being day 2) etc.

Hope you get yours soon.

Lou

 

[Lsab]

Thanks for bumping the thread Lou - saves me having to find it before I merge them!

 

[Lsab]

Hi . i am totally new to this- forums and property investment.
I am about to buy a junior suite in Marsa Alam Beach resort and wondered if anyone else has already invested or has any advise. It all seems to be very straight forward but i am obviously concerned that we are not just about to become easy prey for dodgy developers , lawyers etc?:eek

Welcome to the forum Graham. This has been a very informative thread and I'm sure will answer a lot of your questions.

If you need any help navigating the forum, just give one of the moderators a shout.

Best wishes

Linda

 

[kc67]

Hi all, may be old news for you but I have been advised that contracts are being sent this week (in order of reservations). Mine was due today but is not here yet - i think they are coming by post. Expect yours in the order you received your phonecall (so today being day 2) etc.

Hope you get yours soon.

Lou

Hi Lou, Thanks for the update - I hadn't heard anything. Welcome to the forum Grahamgman
Karen.

 

[chriscross34]

Hi everyone, wow its been a long time. I keep hoping that the sterling/euro exchange rate will improve as I haven't purchased my euros yet for my appartment. Any recommendations gratefully received. I know I have asked before but you never know if somebody has got a good deal and service recently
Chris

 

[kc67]

Hi everyone, wow its been a long time. I keep hoping that the sterling/euro exchange rate will improve as I haven't purchased my euros yet for my appartment. Any recommendations gratefully received. I know I have asked before but you never know if somebody has got a good deal and service recently
Chris

Hi Chris, yes everything has gone very quiet just now until we get contracts. I also have not purchased my euros yet - and live in hope that the exchange rate will improve before we have to pay! Karen.