Description:
This development is located near the shores of the Red Sea, in the town of Hurghada, Egypt. About 15 km south of El Gouna.This resort will comprise 225 units. There will be 44 studios, 48 one-bedroom, 117 two-bedroom and 16 three-bedroom apartments. The properties will be completed in March 2008.Pre-launch prices start at £17,600. We facilitate an effortless payment plan in five simple steps. First payment of 10% deposit. Three further payments of 10% in the remaining 12 month period. A final 60% upon completion paid with either an arranged mortgage or cash.Frequently Asked Questions about this development:1) How long is the rental season?12 months.2) What are the expected rental opportunities in the area?Studio, Purchase Price from £ 17,600 , Rental Income Term 12 months , Conservative Estimate of Rental Returns Per annum £ 4,160.One Bedroom Professional 62m², Purchase Price from £ 24, 500 , Rental Income Term 12 months , Conservative Estimate of Rental Returns Per annum £ 5,720.Two Bedroom 93m², Purchase Price from £ 37,200 , Rental Income Term 12 months , Conservative Estimate of Rental Returns Per annum £ 8,320.3)What is Egyptian Design and Finish?Normally in Egypt a new build property is sold as a shell. Doors and windows are not installed, walls and floors are not finished, and kitchens and bathrooms are not equipped.4) What will be the layout of the development?There will be 12 buildings forming the whole site. On average, each building will have 5 floors each with 4 apartments per floor. Each of these buildings with 20 apartments will have a lift for their own use.5) Will the apartments have sea views?Apartments on the third, fourth and fifth floors will have sea views.6) What is the construction of the building?The foundation of the building is reinforced concrete. The construction is of brick.7) What will be the orientation of the apartments? The apartments will face South-East.8) What type of running costs should the client expect?Apart from the annual Real Estate Tax of EGP 500 (approx. GBP 50) and the annual maintenance fee of GBP 500, there will be utility (water electricity) charges substantially lower than by European comparison.9) What is the yearly maintenance fee?The yearly maintenance fee will be GBP 500 per annum.10) Is there any Stamp Duty?No.11) Is there any Government Tax?No.12) Is there any Capital Gains Tax or V.A.T?No. 13) Is there any Inheritance Tax?No.14) Can I sell my property at any time?Yes.15) What is the general overview of the area?The town of Hurghada, known as Al-Ghardaka in Arabic was founded in the early 20th century as a fishing village, with over 40km of coastal resorts and spectacular beaches. The Red Sea Riviera has fast become a community of mixed nationalities and cultures. The permanent summer weather and leisure activities, including desert safaris, diving and golf, make this the most popular resort in Egypt.With its crystal clear water, untouched reefs and a multitude of ship-wrecks, Hurghada has become one of the most popular diving and snorkelling destinations in the world.Nearby lie the stunning resorts of Sahl Hasheesh and El Gouna, both exclusive destinations offering residents and tourists fantastic views of the desert, mountains and natural lagoons. At the heart of the El Gouna Resort is the Abu Tig Marina, the most beautiful harbour on the Red Sea designed around the spectacular El Gouna Golf Club, an 18-hole, PGA professional golf course.16) How long are the seasons in Hurghada?The Red Sea Riviera’s warm climate makes it an ideal destination at any time of the year. There are two seasons: a hot summer, which runs from May to October, followed by a mild winter for the remaining months. Temperatures range from a minimum average of 15ºC (59ºF) in winter, with cool nights, to 30ºC (86ºF) in summer, with comfortable warm nights.17) How accessible is the area?Flight time from the UK is 4.5 hours with scheduled weekly flights. Charter flights from Germany are almost daily. Flights from other major European cities include Munich 3.5 hours and Rome 3 Hours 18) How do you get there?Egypt s national air carrier is EgyptAir, and Air Sinai also has good connections in Egypt. Most travellers come into Egypt through Cairo, although people are increasingly disembarking at Alexandria, Luxor, Aswan, Hurghada (Al-Ghardaka) and Sharm el-Sheikh. These airports are serviced by a number of smaller carriers and charter companies with direct connections to Europe. Refer to attached document ‘DP Europe Direct To Hurghada’. BA fly twice a week 19) Are mortgages available?Yes, a capital repayment type mortgage, subject-to-status, on 60% of the purchase price is available at 7.9% flat rate for a maximum period of 10 years. |
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