iain
New Member
Fair point Dave about currency - of course Egyptian rate of interest is pretty high which helps keep it strong.
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HORIZON
New Member
Hello Iain, actually it is reported there is a balance of payment surplus which means exports exceed imports and more importantly the international reserves are enought to cover up of almost 8 months import to the country.
What I definitely agree about ir that Egypt is a growing and learning economy and uptil now we should admire what they have done. If only business mentalities of Egyptians themselves were higher, they would do much better even than they do now..
iain
New Member
Hi Violeta
I think where we differ is that I am talking about imports and exports (actual imports and expoerts as in commodities) I believe you are talking in terms of balance of payments which includes "Invisible" earnings - so for example earnings from Suez canal is not an "import" but an earning.
Iain
I think where we differ is that I am talking about imports and exports (actual imports and expoerts as in commodities) I believe you are talking in terms of balance of payments which includes "Invisible" earnings - so for example earnings from Suez canal is not an "import" but an earning.
Iain
HORIZON
New Member
Well, even if you are talking about current account balance, it is still in surplus...
But yes, if you take commodity export/commodity import indicator it is more than 50% would suggest you are right Iain.
But even in the reports it is acknowledged that the price incerase impact on the economy is unprecendented.. So in the end it will be interesting to see how Egypt survives the current situation still in a growing phase. Right?
But yes, if you take commodity export/commodity import indicator it is more than 50% would suggest you are right Iain.
But even in the reports it is acknowledged that the price incerase impact on the economy is unprecendented.. So in the end it will be interesting to see how Egypt survives the current situation still in a growing phase. Right?
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iain
New Member
Yup Violeta, I agree.
Let's hope it all goes well - no point in worrying too much. Looking forward to meeting all these lovely Russian cash buyers!
You can tell I just got home from a very enjoyable evening in a good old English pub, we cab still afford the odd drink thank goodness!
Iain
Let's hope it all goes well - no point in worrying too much. Looking forward to meeting all these lovely Russian cash buyers!
You can tell I just got home from a very enjoyable evening in a good old English pub, we cab still afford the odd drink thank goodness!
Iain
L
Lsab
New Member
Just read your post here Iain Press Release by Egypt Real - View Single Post and I must say that I think that you're making a lot of sense IMO.
Been talking to my husband about it and I've asked him to keep an eye on what the Egyptian media are saying about the credit crunch. He does point out that as tourism is a major earner for the country there is going to be problems as recession bites around the world. Holidays are one of the first things to go when people can barely afford their mortgage. The Suez canal is the second highest earner for Egypt and in a global recession, if trade falls off that will surely affect the amount of traffic using the canal. What he's trying to say is that Egypt can't be immune when the rest of the world is not. The stock market taking a dive mid week surely indicates this.
I still maintain that in the longer term, property is the best place to put your money!!
Been talking to my husband about it and I've asked him to keep an eye on what the Egyptian media are saying about the credit crunch. He does point out that as tourism is a major earner for the country there is going to be problems as recession bites around the world. Holidays are one of the first things to go when people can barely afford their mortgage. The Suez canal is the second highest earner for Egypt and in a global recession, if trade falls off that will surely affect the amount of traffic using the canal. What he's trying to say is that Egypt can't be immune when the rest of the world is not. The stock market taking a dive mid week surely indicates this.
I still maintain that in the longer term, property is the best place to put your money!!
Randall
New Member
I for one am in for the long term. Lets hope all these developments get built!
I have noticed some adverts on agents sites offering 10% off...free air con...free furniture package.
No matter apparantly how good the Egyptian economy is despite the credit crunch ..... The buyers will be feeling the pinch, and thats all that matters.
I believe the Russians had lots of savings in the Icelandic Banks?
It makes you wonder now how people can have a guaranteed rental income? What if the recession lasts and it takes the economy a long time to recover....holidays will have to wait as bills and essentials will be paramount.
over to you.....
I have noticed some adverts on agents sites offering 10% off...free air con...free furniture package.
No matter apparantly how good the Egyptian economy is despite the credit crunch ..... The buyers will be feeling the pinch, and thats all that matters.
I believe the Russians had lots of savings in the Icelandic Banks?
It makes you wonder now how people can have a guaranteed rental income? What if the recession lasts and it takes the economy a long time to recover....holidays will have to wait as bills and essentials will be paramount.
over to you.....
NeilHollingsworth
New Member
Because most of the guaranteed rentals have been paid for by the buyer and they will be getting their own money back.
J
jess100
New Member
are you saying that you have sold property to unsuspecting buyers with prices increased to cover a fictional " rental guarantee"
VERY PROFESSIONAL
NeilHollingsworth
New Member
Not at all what i am saying is i know properties are sold like this and as an example i got a 12% discount off the price for an apartment in Bulgaria becuase they offered 6% rental for 2 years and we told the developer it was wrong. So the client received a 12% discount and was then able to the rent the property out themselves.
NeilHollingsworth
New Member
You will also note i am not selling any of the Egyptian off plan properties offering rental guarantees. The only one being The Pyramisa and this is a guarantee from a completed, open and fully operational hotel. So please if you have anything you wish to discuss please do so without snide comments.
I am here to speak to so please do so or shut up and let me get on with my work, i have noticed you seem to follow me round the forum making remarks, i do not know what your issues are, but i would love to hear them.
Randall
New Member
Hi All
I asked a genuine question regarding guaranteed rental income. I feel it was answered in honesty ....we don't get anything for nothing.. do we..
I also feel that Rivermead Global Property is highly regarded on this site and is a point of contact for all, for information regarding most developments.
Keep up the good work
I asked a genuine question regarding guaranteed rental income. I feel it was answered in honesty ....we don't get anything for nothing.. do we..
I also feel that Rivermead Global Property is highly regarded on this site and is a point of contact for all, for information regarding most developments.
Keep up the good work
NeilHollingsworth
New Member
Thank you Randall, much appreciated.
L
Lsab
New Member
Very true. There's very few with a bad word to throw in Neil's direction. On the rare occasion it happens, it's usually without cause
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