Hi Jason I agree - it is important to research not only yhe Agent, but the developer ( what has he built before, were d the developments on time, up to scratch etc, ) lawyers etc etc.
People on this forum where quite negative about us that bought in Sharm but to be honest I havent looked back and Im glad I didnt buy in Hurghada after all the horror stories.
Yes Sharm is only lease but it is 99 yr lease and can easily be renewed. My buying process was very easy. Paid £200 Sept 07 went and visited the site in Oct 07 signed paid cash and had handover the following summer. We have stayed in the apartment quite a few times and have also rented it out as well.
The complex is far from finished but we can at least use our apartment as our zone is moreorless done.
Dont go for a lawyer that an agent or developer recommends, make sure the due diligence is in order.
I have all my paperwork stamped and it took 6 months in the Courts - really easy. There are many in Hurghada that are struggling to get these papers and many more waiting years and many more that have lost money that they wont see again.
Be really careful and just research as much as you can.
Good luck anyway.
You may want to look at places such as Alexandria - I saw a 2 bedroom apartment - re sale - for £14,000 recently that was a short walk from the sea!