Regency Beach

[NICKY P]

Why would you want to buy off a developer without a guarantee

 

[awahee123]

As stated previously it's a bank guarantee that is being asked for,not a builders guarantee.I'm sure regency provide builders guarantees.

 

[Randall]

I was under the impression that the developers were the same ones who were responsible for Regency Towers.

From my understanding everything went as planned and it was an excellent development.

I have been previously bitten on a development in Spain and even though I have a bank guarantee it is stiil costly trying to get that money back.

So if anyone knows of any problems please let us know.


Cheers

 

[Randall]

Hi All

The only correspondence of late from my agent was to inform me of new addresses.

I placed my deposit on this development in Dec and have not received any information since.

I am aware there were changes made but has anyone any idea why it has gone so quiet.

Thanks

 

[propertastic]

The floorplans have been delayed over and over again on this development, but I can tell you that they arrived in Birmingham today.

They should be released to everyone who has made a reservation tomorrow. I don't yet know though if units are being released in the order in which deposits were taken, or if it will be a 'fingers on the buzzers' situation.

I would advise everyone who has reserved a unit at Regency Beach to keep an eye on their inboxes tomorrow though, just in case.

 

[Randall]

Many Thanks

 

[dunkan]

My 1st post so hi to one and all

I've put reservation deposit on a 2 bed apartment in Regency Beach.

Im wondering what kind of rental income a 2 bed will return and will it vary very much during the season ?

Any input greatly appreciated.

Thanks (duncan)

 

[propertastic]

I just wanted to give you today’s update on the situation with the floorplans at Regency Beach, as the situation keeps changing every 24 hours.

They were due out today, but they have decided that they want to make some more changes (they are absolute perfectionists!) and so the new date for floorplans is now expected to be the end of next week.

I will continue to keep everyone updated on all of the latest developments on the project as I hear more information.

 

[propertastic]

My 1st post so hi to one and all

I've put reservation deposit on a 2 bed apartment in Regency Beach.

Im wondering what kind of rental income a 2 bed will return and will it vary very much during the season ?

Any input greatly appreciated.

Thanks (duncan)

It's hard to see 18 months to two years into the future as to what the supply and demand situation will be at that time.

Currently though, you would probably be talking around GBP250/week based on what similar properties are renting for at the moment.

I would say that 25% occupancy at these rates could be achievable.

 

[realestatemart]

Ask

I bought mine direct from the construction company as a shell. I have just put it up for sale this week.

HI Can you give more details about this project

 

[dunkan]

It's hard to see 18 months to two years into the future as to what the supply and demand situation will be at that time.

Currently though, you would probably be talking around GBP250/week based on what similar properties are renting for at the moment.

I would say that 25% occupancy at these rates could be achievable.

Yes we need a crystal ball thanks for you're opinion, its where i thought it would be but with possibly higher occupancy.
My agent scared the life out of me via email saying, £200 GBP per month in the low season less than £7 GBP per day which is not a good investment return on £70,000 GBP Not heard yet on the high season rental potential or even when that is.

When is the high and low season ? i cant find the relative info and was led to believe it was 360 days sunshine with great temps all year round.

Many thanks for youre input, this is my 1st venture abroad so im glad i found this site, even be it after i put my reservation down

Dunk

 

[crombiestone]

Yes we need a crystal ball thanks for you're opinion, its where i thought it would be but with possibly higher occupancy.
My agent scared the life out of me via email saying, £200 GBP per month in the low season less than £7 GBP per day which is not a good investment return on £70,000 GBP Not heard yet on the high season rental potential or even when that is.

When is the high and low season ? i cant find the relative info and was led to believe it was 360 days sunshine with great temps all year round.

Many thanks for youre input, this is my 1st venture abroad so im glad i found this site, even be it after i put my reservation down

Dunk

Dunkan

I think £200 a week for Holiday lets in Hurghada is more realistic . If you want to rent long term Maybe £400 per Month on 6 month contract . Competition for holiday rental is going to be tough as it is hard to persuade people away from Cheap AI holidays ,self catering is new to Egypt making some people more wary about security and there are going to be lots more apatments coming online competing for custom.

I have a place in El Gouna and have been renting for holiday lets for about 12 months and have managed about 25% occupancy . I could have let it long term but want to use it myself for holidays .

High season is generally considered to be winter as some find the summers too hot but year round rentals should be possible .

I'm not to sure that Egypt will be a rental goldmine but I dont mind as I bought the apartment as a lifestyle purchase rather than an investment.

 

[propertastic]

Yes we need a crystal ball thanks for you're opinion, its where i thought it would be but with possibly higher occupancy.
My agent scared the life out of me via email saying, £200 GBP per month in the low season less than £7 GBP per day which is not a good investment return on £70,000 GBP Not heard yet on the high season rental potential or even when that is.

When is the high and low season ? i cant find the relative info and was led to believe it was 360 days sunshine with great temps all year round.

Many thanks for youre input, this is my 1st venture abroad so im glad i found this site, even be it after i put my reservation down

Dunk

I think you need to find yourself an agent who actually knows the market rather coming up with some half-remembered number that he read someplace a long time ago!

But make your own research to be on the safe side. Google hurghada apartment rent and see what competing properties come out as.

Crombiestone is right about the seasons. Winter is generally better as there are more flights here then. A lot of airlines put their planes on flights to the Med during the summer season that lasts from end-Apr to end-Oct. Then they put them onto the Egypt routes for the winter season.

Jan and Feb are the slowest months for air travel in general so these will be a little slower than the other months. The plane I came out with on 31 Jan was pretty empty, but in October and November it was very hard to find flights or accommodation.

 

[dunkan]

Thanks everyone, the best thing ive done is join here, google is your friend

Yes the people dealing with my property have caused me concern, im awaiting there next email !
Im very happy with the lawyer here in the UK who is dealing with my purchase so thats good news

Im doing lots of surfing to check the agents facts and pictures etc etc finding out just how much is happening out there building wise, prices, rents, etc also getting to see hurghada without actually going there which i'll put right in the near future.

Dunk

 

[crombiestone]

Thanks everyone, the best thing ive done is join here, google is your friend

Yes the people dealing with my property have caused me concern, im awaiting there next email !
Im very happy with the lawyer here in the UK who is dealing with my purchase so thats good news

Im doing lots of surfing to check the agents facts and pictures etc etc finding out just how much is happening out there building wise, prices, rents, etc also getting to see hurghada without actually going there which i'll put right in the near future.

Dunk

Dunk

Sorry to say this but I think you should have done this research and visited Hurghada BEFORE you bought .

 

[jeremy bright]

Yes we need a crystal ball thanks for you're opinion, its where i thought it would be but with possibly higher occupancy.
My agent scared the life out of me via email saying, £200 GBP per month in the low season less than £7 GBP per day which is not a good investment return on £70,000 GBP Not heard yet on the high season rental potential or even when that is.

When is the high and low season ? i cant find the relative info and was led to believe it was 360 days sunshine with great temps all year round.

Many thanks for youre input, this is my 1st venture abroad so im glad i found this site, even be it after i put my reservation down

Dunk

hi i got a place in the villige and there was talk of rental around £100 a week in there advertising but when i have got the paper work they are offering 7% on 22.000 i payed and i still have to pay all the fees

 

[dunkan]

Dunk

Sorry to say this but I think you should have done this research and visited Hurghada BEFORE you bought .

Yes youre right, afraid circumstances here in the UK have made that impossible for me to do, i've only payed a £1000 reservation fee which according to the lawyer dealing with Regency Beach (Philip Morris) is refundable so until i sign a contract im not commited to this and if the agent im using doesnt pull there finger out and give me accurate facts, i'll pull out.

Im more concerned with rental income return to be honest and this development possibly isnt for me, i know its early days on this but the more i search the more i think its like most areas in the world and is being over developed which will dramatically reduce my potential rental occupancy.

Afraid most agents ive spoke to on various projects ive looked at havent inspired me and appear to tell you anything they think youd like to hear.

Oh well i'll carry on doing my search's and see what happens.

Cheers
Dunk

 

[J4hurghada]

Dunkan,

If you can aford to sit on property and maybe use for private and family use it will pay for itself, but until the flights come down in price and hurghada is more developed then I would say the rental side will all fall into place.

But wish you all the best with your search

Jayne.

 

[dunkan]

Dunkan,

If you can aford to sit on property and maybe use for private and family use it will pay for itself, but until the flights come down in price and hurghada is more developed then I would say the rental side will all fall into place.

But wish you all the best with your search

Jayne.

Hi Jayne,

I can afford to sit on it but that wasnt my intention for buying abroad, a bit of private use companied with good rental return and good capital growth is what im looking for, how many years down the rd before this happens is the big question, if it happens at all !!

Too many apartments like in Bulgaria, Spain, Portugal etc mean 1 thing, less occupancy, looks like the same will happen on the Red sea.


Dunk

 

[jeremy bright]

Dunkan,

If you can aford to sit on property and maybe use for private and family use it will pay for itself, but until the flights come down in price and hurghada is more developed then I would say the rental side will all fall into place.

But wish you all the best with your search

Jayne.

i was over in November for a week stayed in a hotel called 1001 nights big place with lots of entertainment there was even coach loads of people visiting from different hotels as had shows on every night and was only £120 for two allinclusive and all you can drink how can we compete with that