Zafarana beach resort

[portiz372]

Hi Bluenitsuj,
I used a chap called Laurie at Off Plan Planet to buy mine. He's really helpful and knowledgeable and any questions you have he will answer them. Nothing's too much trouble. I recommended him to a colleague at work and she bought one as well.

 

[JTK]

Agents...

I'm not one, but can certainly recommend Julia and Zoe at Fairfax Investments - very helpful, responsive and well informed - all my questions were answered quickly and extensively. Also felt more like a friendship that an agent/client relationship.

 

[dave h]

Hi Iam New To All Of This Just To Let You Know I Am Going Out On The 28sept And Looking To Buy Have Viewing On The 3rd Will Try And Post Message When I Get Back To Let You Know How Its All Going Cheers Dave.

 

[prop profit]

I am an experienced property invester both in the uk and overseas, this is perhaps one of the best investments I have made, with the property costs so low the developer cant have inflated the prices to much to incorporate the rental guarantee.

I have spoken to many experience divers that have spent time in the area and they tell me its fantastic for diving and are biting my hands off to book time in my Zafarana apartments, the developers have been extremely helpfull since I purchased the properties with regular updates photos and meetings that investors can attend. with almost half the investment paid for by the rental guarantee and in addition the facility to let the property out for a further 6 weeks (which is proving very easy to do, perhaps easier than any other property I have),all in all this is a very very low risk investment.

 

[ricky]

Agents can also be investors!

Hi everyone

I have bought in Zafarana, block B in Adela and I was fortunate enough to get one of the units with the developer's mortgage which means I put down around 50% of the total cost, paying the balance off over the 6 years till the end of the rental programme.

The reason I bought in Zaf is because after selling quite a few units to my own clients I began to realise that this is a special development with huge potential. I love the way the developers work with their regular newsletters, the superb photograph gallery of the site that is updated monthly and the way way that the information they provide is clear, easy to understand and believable.

For the money involved I think it will be a great investment in the long term and I look forward to my personal use weks, although I honestly can't see me taking all 6 each year.

As far as gas works are concerned - I have never heard anything about it BUT there is a Wind Farm right behind the resort that might upset some but it does mean nothing else is likely to be built on that spot for some considerable time.

The development itself sounds like it is going to offer everything required for a pleasant (and lets face it, quite cheap) holiday in a 5* resort. The name of the Hotel group that are going to be running the Hotel services side of things is due to be announced at the buyers' party on Nov 2nd.

I guess it's refreshing when an agent puts his own money where he tells his clients they should be putting theirs!

Ricky

 

[Peter Mitry]

Quite right Ricky! Thats why I have bought in Sahl Hasheesh!!

 

[Elspeth Chalmers]

Zafarana has been hanging around on the property market for quite some time now, it is an isolated resort miles from Hurghada and El Gouna I would not advise investing in this one. Choose one of the main resorts Hurghada, El Gouna or Sharm.

It looks good on paper this one but it will be along time before this area is developed to a high standard.

The weather is also colder the more north of Hurghada you go.

 

[awahee123]

I was going to buy here but I found it was way out ,the prices looked good as these have a bank guarantee with them,you just have to offer them to the resort first if you want to sell them.

 

[ted_007]

Has anyone bought in Zafarana beach resort?

Hi everyone,

Just recently started looking at Egypt. Looks interesting, sunny and warm, prices low, tourism booming.
Haven't been there myself difficult to judge on location.

Was offered Zafarana beach resort. Only few units were left then. But looked like a solid investment with bank backed rental guarantees.

Does anyone have here experience with that? Purchased in Zafarana?
How bank guarantees work in Egypt

Thanks guys

Ted

 

[lyndsay552]

Hi Ted,

I too looked at Zafarana Beach resort and I think my step dad is buying there. There was a couple of things a didn't like about it though which may be worth thinking about.

1. Nearest Airport - at the moment the nearests airports are Cairo or Hurghada which makes it a long journey to the resort. Yes i know there is talk of an airport being built but as far as i know the planning permission hasn't even been granted, so be aware.

2. I don't like the idea of a guaranteed rentl scheme. I've heard some very bad reports that you are actually paying for it yourself in the original price for the apartment.

As I've said this is only my opinion, so take it with a pinch of salt.

Have you looked at the developments in Hurghada. There are a few that are about the same price a Zafarana but in a better location.

Lyndsay

 

[ted_007]

Hi, Lyndsay,

Thank you for an opinion.
And what developments would be those - same price as Zafarana, but better location?
Will they have management companies on site?

Ted

 

[lyndsay552]

Try Lotus Breeze or Regency Beach

 

[propertastic]

It looks like a nice development but, as Lyndsay says, it's just the fact that it is so far away from any international airport that makes it a problem.

After completing a 5-hour flight, the last thing I want to do is get on a coach and spend another 1.5 - 2 hours getting there.

This is where Hurghada (and Sharm el-Sheikh) really score. In Hurghada you can be out of the terminal and into your apartment inside 15 minutes.

If someone is looking for somewhere quieter and less-developed than Hurghada, Marsa Alam would be a better bet - at least it has an international airport with one flight per week from the UK.

I must admit that, when I was on my fact-finding trip to Hurghada, my girlfriend had set up a meeting for us to see Zafarana. When we looked at the map and realized that it would be a 500km round trip, I must say that our enthusiasm for making it rapidly diminished.

 

[ted_007]

Hi Propertastic,

thanks for that.
but have u actually been there?
cause I have no wish to be spending 6 weeks every year in Egypt.
Investment so it be.
And 10% guaranteed looks great - no problems for 5 years.
other than that - not everyone is bothered by long trips. For my girlfriend time on the plane or in the car is always too short.

Ted

 

[propertastic]

I haven't been there and so I only have facts to consider.

The price of GBP436 for beachfront sounds pretty reasonable, especially with the five year rental guarantee - it's certainly cheaper than Hurghada. I recommend that you compare the prices with other areas on the Red Sea without the same level of infrastructure as Hurghada however, such as Gamsha Bay, Marsa Alam, Safarga, etc.

Basically I think that anyone investing on Egypt's Red Sea is going to see some good capital returns over the next few years - it's just a question as to which location makes the most.

 

[propertastic]

It is a braver man than me who would predict rental yields and capital increases for the whole of the Red Sea coast!

I think that airports and infrastructure are the best yardsticks to go by. I know that you don't like Hurghada very much, but it is happening here and now with a very busy international airport.

Marsa Alam already has an international airport, so I think that it will be the 'next, next' big thing as flights to and from it increase.

As for the 'next, next, next' big thing, there are just too many variables to be able to predict it accurately. Zafarana could be a contender, as could be Safaga.

As I am moving to Hurghada on 31 January, I am hoping to be able to make a complete tour of the coast. After I have done so, I should have a better idea of where's hot and where's not.

 

[ted_007]

Hi, Cleo,

Thanks sweetheart.
Nice example of good sales woman.
Peter won't mind, I hope
I'll email u.

Ted

 

[dave99]

Anyone been paid any "rental" yet

This place sounds pretty good - has anyone been paid any rental yet.

How does it work - is it a monthly payment, or annual, or a discount against the purchase price or what.
,
.

 

[ted_007]

Dave,

do you consider start selling it?

Ted

 

[dave99]

NOT sure yet

Dave,

do you consider start selling it?

Ted

Not Zafarana but maybe the Marsa Alam one - so interested in how it works before showing any further interest.

.