I want to buy an apartment in hurghada, but please give me some advice based on husbands research?

Question

He say it is not the right time to buy, he says there are many complexes left unfinished.May not be secure time, if the builder cannot afford to complete. second comment, he says locals are saying its a false economy and they have rocketed in price and they will drop soon as loads remain unsold. Comments please

Answer 1

If you buy from a reputable property developer you shouldn't have any problems, if your that concerned about an off plan development why not buy a re-sale, at least that way you'll know it's been registered, in some places are fully furnished ready to move into.

Not matter where the property is it rarely decreases in value & from what i've heard it's a buyers market at the moment in Egypt & it's not going to stay that way for much longer cos prices are set to climb by 30% by the end of the year.

. I've been looking around in Sharm, personally i wouldn't buy an off plan, i've been doing some research & though they seem to be cheap by the time you pay all the little hidden extras they are more expensive than a re-sale.

Answer 2

everything you say may be true .

but from my experience in Egypt , property is always rising in price .

if the building is Ok , owner OK , place OK , get your choice .

in Egypt , choose a place that faces the West  ,and the North a little bit .

the West is important so that it is cool  .

good luck.