What is normally included in a new property in Egypt?

[2F2F]

Here there is no stove, no oven:

Discount Apartment / Flat For Sale In Muhafazat Al Bahr Al Ahmar (Egypt)

:questionmark:

 

[Veronica]

Here there is no stove, no oven:

Discount Apartment / Flat For Sale In Muhafazat Al Bahr Al Ahmar (Egypt)

:questionmark:

for that price I am surprised it even has windows:biggrin:

 

[Alan Cockayne]

Sometimes called "fractional ownership" these are multi-owned in order to rent out as profit for developers.

Another alternative would be "Time-Share" where you get so many weeks use, but have your name on the property and your share of the deal is resaleable.

 

[Veronica]

Sometimes called "fractional ownership" these are multi-owned in order to rent out as profit for developers.

Another alternative would be "Time-Share" where you get so many weeks use, but have your name on the property and your share of the deal is resaleable.

surely with fractional ownership they should be fully furnished and equipped?

 

[Peter Mitry]

Fractional vs Timeshare

surely with fractional ownership they should be fully furnished and equipped?

All Fractional properties should be fully furnished and equipped. They should also be managed by a professional hotel operator or resort management company whose costs should be totally transparent.

Fractional should not be confused with Timeshare; with Timeshare you own the right to either a fixed or floating week in your chosen complex to be used for holidays or exchanged for a week in another resort. Your ownership is NOT secured by a title deed and management fees per week of ownership are often inflated.

Fractional Ownership related to property means that you are legally a part owner of a fixed property and that you share the costs and benefits with the other owners. Your share in that property can be sold at any time without recourse to the other owners.

However, some Fractional schemes dilute ownership to a week or a fortnight and in these instances the distinction between Fractional and Timeshare is very blurred. In my personal opinion a Fractional Ownership scheme should not allow more than 6 owners of a property and the time owned should be rotated so everyone shares equally in the different seasons.

 

[Alan Cockayne]

Peter defines it perfectly.

So are these really cheap prices part of this type of fractional ownership package, or purely "hype" to get people interested in passing their names and addresses? £7,000 for 40m2 units are too good to be true.

If so, that would be seen as typical pressure selling, the type witnessed from the time-share sharks of old.


Alan.

 

[Alan Cockayne]

Clearer Advertising

Hi Peter.

That's precisely why I asked, because the industry is full of disappointments right now and more sharks in the tank will not revive the integrity of the marketplace we both have campaigned for over many years.

Precise advertising and less confusion would help. But that means top down policies and bottom up adherance from these tele-sales companies.

However, studios are only half the size of that advert. So once again we must be clear what we talk about. Our customers won't be fooled as easy these days.


Cheers.

Alan.

 

[Peter Mitry]

What to Expect when Buying in Egypt

If you are thinking of buying in Egypt you should consider the following:

1. The m2 quoted can by law include up to 20% for public areas, such as corridors or stairwells
2. The total m2 usually includes terraces
3. Kitchens are rarely fitted; you normally get a tiled splashback, electricity points, water points and waste outlets
4. Wardrobes are generally not built in
5. Light fittings are not generally included
6. Hot water boilers are not generally included
7. Pre-installation for air con is generally included but not the units themselves

However, some developments do include some or all of these things so always ask

I hope this helps

Peter Mitry

 

[sharmelsheikh]

Clarity is the key

All the pionts indicated below should be included in the Sales Vouchers and contracts. This will facilitate investors endeavours to make informed decision.

If you are thinking of buying in Egypt you should consider the following:

1. The m2 quoted can by law include up to 20% for public areas, such as corridors or stairwells
2. The total m2 usually includes terraces
3. Kitchens are rarely fitted; you normally get a tiled splashback, electricity points, water points and waste outlets
4. Wardrobes are generally not built in
5. Light fittings are not generally included
6. Hot water boilers are not generally included
7. Pre-installation for air con is generally included but not the units themselves

However, some developments do include some or all of these things so always ask

I hope this helps

Peter Mitry

 

[2F2F]

If you are thinking of buying in Egypt you should consider the following:

1. The m2 quoted can by law include up to 20% for public areas, such as corridors or stairwells
2. The total m2 usually includes terraces
3. Kitchens are rarely fitted; you normally get a tiled splashback, electricity points, water points and waste outlets
4. Wardrobes are generally not built in
5. Light fittings are not generally included
6. Hot water boilers are not generally included
7. Pre-installation for air con is generally included but not the units themselves

However, some developments do include some or all of these things so always ask

I hope this helps

Peter Mitry

Thank you, that's informative.