Overseas Real Estate Blog

Ocean Breeze is considered by most to be one of the very best Beach Front Line developments in Sahl Hasheesh, a world class resort on the Red Sea Riviera, Egypt. 159 luxury apartments and 50 semi detatched villas - all on a large private beach and 2,000 m2 of swimming pools. There are very few front line apartment buildings in Sahl Hasheesh, as most front line plots are taken up with 5 and 4 star hotels. The Pyramisa is open and the Marriott opens in July and the whole Sahl Hasheesh project is moving ahead at quite a pace with many shops and restaurants due to open this summer. This is a genuine year round 100% huaranteed sunshine destiation for holidays, for long stays and for retirement. The appeal to a huge section of the population from Europe, Africa and the Middle East is unrivalled.

Ocean Breeze has one of the the best locations in Zone 3 - as its close to Serenia resort, Norman Foster and Partners 7 star resort with its marina and golf course. Construction on this has now started and, in a few years, I am confident investors in Ocean Breeze e will look back and see what good value these apartments and villas representated in 2008.

Ocean Breeze has shops bars and restaurants on site. An 18 hole golf course is located directly behind the development.

Owing to steadily improving infrastructure connections to all European countries (flight time of 3 – 5 hours) and guaranteed sunshine all year round, the tourist trade is the major source of foreign exchange, with some 9 million tourists visiting the country every year. Approx. 1 million of these tourists come from the United Kingdom, Germany and Italy, with the UK showing the highest growth rates (+23 %). The target figure for 2014 is approx. 16 million tourists, a figure which impressively demonstrates the future demand for property in Egypt, especially in the tourist resorts beside the Red Sea. It is also an attractive indicator for the potential appreciation in the value of properties in high-class locations.

All monies held in escrow account until such stages are completed in accordance with the contract. Excellent previous development quality that have lead the way for the rest.

Sahl Hasheesh property is 100% Freehold, no capital gains tax (in Egypt), vat or inheritance tax.

Call +44(0)113 3131000 for £225 per person special offer "no sales pressure" discovery tours.

As Cairo is rapidly growing and Egypt's wealth is growing I saw a shortage of quality rental property. Damac, rightly famous for very high quality Dubai developments, have launched their second project in Cairo. Prices from £64,000. Launch Offer ends Wednesday. Call +44(0)113 3131000 or email info@jet2letproperty.com for more details or for invitation to launch event in London's Docklands next week.

Area Information:

The New Cairo district, referred to as the “Land of Gold”, is in a unique strategic location. It has the hallmark of being one of the best new urban developments in Egypt, adjacent to the main Southern Highway Route that serves road traffic to all of the coastal tourist areas on the Red Sea, Hurghada, Al Ghouna, Quesir, and others. There will be a bridge linking new Cairo to Giza and the Pyramids and it is only 20 minutes away from Cairo International Airport.

Inspired by the beauty of the old Cairo Downtown building architecture and the magnificent design, Damac wanted to bring back the glorious time of Downtown Cairo.

Away from all the traffic and road congestions yet at the same time right in the heart of the hip and happening in the Newest part of the Oldest City in the world, Damac has chosen the perfect location for its new development, New Cairo. It is to be the home of the American University in Cairo and the German University in Cairo. It is located on a unique spot in Cairo – Hurghada Highway – which also brings it closer to other fantastic Red Sea resorts, such as Ain al Sokhna which is less than 2 hours drive.

ABOUT CONCORDE:

Set within a cluster of 10 blocks, and each comprised of several buildings, Concorde captures the spirit of turn of the century Parisian architecture with its decorative iron railings, stone cornices and tall window openings. Several façades lined side by side evoke a “city block” feel and are lined by a wide tree lined sidewalk and ample surface parking.

Green pocket parks are captured in the internal courtyards of these blocks for the pleasure and use of its residents, in addition to swimming pools for the exclusive use of the Residents

APARTMENTS:

The apartments are beautifully crafted and detailed in line with its architectural reference. These elegantly designed interiors also offer majestic views of the spectacular outdoors.

The buildings will be 6-storeys.

Your 1, 2, 3 and 4 bedroom apartments will be the ideal place to spend quality time with family and friends.


LAUNCH DATA:

The Concorde Apartment Launch will be for one week starting today, where we will offer the Below Launch Discounts on (Block 1-3 and 10)

Noting that Block 1 and 3 are semi finished apartments and block 10 is Finished Apartment (Classic - Finish)


1- 1 floor - same Building : Discount 3% on the attached price

2- 2/3 Floors : Discount of 5% on the attached Prices

3- 1 building : Discount of 8 % on the attached prices



Service charge:

5% of unit price is collected as a deposit and the interest generated from this fund will be used towards payment of service charges. Any shortfall will be compensated by a charge per sqm. The 5% deposit has to be paid in 10 equal installments along with the unit installments (as per payment terms). While informing the client kindly add this 5% to the List Price

Assignment fees: 1.5% for bulk (4 units or more), 3% for individual unit

Clubhouse: Buyers will be given a preferential rate to make use of the club.

Delivery Date: Dec 2012


ABOUT CENTRE VILLE:

Enter the gates of Centre Ville and capture the elegance and beauty of the French style of architecture.

640,000 square metre development.

Reminiscent of old Downtown Cairo’s belle époque architecture, Centre Ville recaptures the spirit of Parisian architecture that made Downtown Cairo so appealing, walk able and enjoyable as a place of residence.

The apartments and retail will be encased in several architectural styles particular to that period of history, evoking the grandeur, luxury and charm of that era.

Centre Ville comprises of apartments and will be the backdrop for your dreams to become a reality and the palette for the creation of extraordinary memories.

This unique apartment community will also include prime retail.

Living here is designed to give you total peace of mind and privacy, as Centre Ville is a private gated community with 24-hour security and controlled entry.

Located in close proximity to Park Avenue at New Cairo – the biggest retail destination in the Middle-East, Centre Ville is also close to Heliopolis and Nasr City.

I have been delighted at the sales response from those buyers waiting for the Palm View Resort Deal which takes the buy price back to the days of £1 = €1.4. This offer also enables clients to pay the developer in UK pounds. Please note that all reservations are held in escrow account until the final build licence is issued from cape verde investment authority which is expected in June 08.

Sal island has the benefit of more facilities (mainly marinas and golf courses) which will be completed 4 or 5 years sooner than Boa Vista island and therefore suits those who need these facilities. It also has the best access from more cities.


With Dunas 43% SOLD and Tortuga 81% SOLD this is a a very safe time to be investing in these projects. In addition the developer has confirmed that construction finance has been secured. In today's market I think this demonstrated the faith others also have in the quality of these projects.

We have handpicked the following properties and applied bespoke terms and prices - so get in there quick!

Top deals of the week at Dunas and Tortuga:

Deal Number 1 on Tortuga (SPECIAL LOW PRICE) €154,750 (with option 3)

Block 36, Apt A0 (Type D) – this apartment is on the ground floor, close to the beach and main pool.

MARKET PRICE €192,950, DISCOUNTED PRICE €175,000 (excluding option 3)



Deal Number 2 on Dunas (SPECIAL LOW PRICE) €323,907.50 (with option 3)

Dunas Villa 8 (Type B) – this villa has its own private pool and garden and is north facing.

SHOULD BE €384,950, DISCOUNTED PRICE €366950 (excluding option 3)


Deal Number 3 on Tortuga (SPECIAL LOW PRICE) €154,750 (with option 3)

Block 39, Apt A0 (Type D) – this apartment is on the ground floor and is south-west facing, close to the beach and second pool.

MARKET PRICE €183,500, DISCOUNTED PRICE €175,000 (excluding option 3)



Deal Number 4 on Tortuga (SPECIAL LOW PRICE) €150,500 (with option 3)

Block 44, Apt A0 (Type C) – this apartment located on the ground floor and is south-west facing and has clear pool views.

SHOULD BE €178,500, DISCOUNTED PRICE: €170,000 (excluding option 3)


Deal Number 5 on Tortuga (SPECIAL LOW PRICE) €154,750 (with option 3)

Block 01 Apt C1 (Type D) – this apartment is on the 1st floor is west facing and close to the main pool and entrance to the resort

SHOULD BE €183,500, DISCOUNTED PRICE €175,000 (excluding option 3)

I have been working closely with our developers to bring our investors some unbeatable deals. Undoubtedly its a buyers market and savvy investors are taking advantage of the current climate to secure good deals. One of my favourite offers is getting the price to where it stood when the UK pound was strong against the euro for property priced in euros.

Today we have a cracking offer for the six star Palm View Resort:

1/ Fixed purchase rate of €1.4 to the pound sterling
2/ Legal fee contribution of €1,000
3/ Upgraded furniture pack
4/ Privilege card

This special offer will only last a few weeks so do call me on +44(0)113 3131000.

Boa Vista is being planned as the best out of the islands by only allowing larger high quality developments and also only allowing development at a sustainable pace. In planning stage is a marina development next to Palm View Resort and several golf courses. With stunning beaches and year round rental this island will, in my opinion, soon command a substantial premium over Sal. Direct flights to Boa Vista from Thomson start in October 08.

I encourage all our clients to meet us in person, often in central London, Birmingham, Manchester or Leeds to discuss the various offers we have in all our markets.

Finally thanks you to Jane and John for feedback on this blog. We will try and get more frequently asked questions on here and the main www.jet2letproperty.com web site which is under a major redesign at the moment. Thank you for saying that you like to see jet2let being open with information and views that gives a personal touch which shows that we are much more than the real estate company with web site and property run by people who never go near the properties they are promoting!

Let's face it the current news is grim, whilst I cant say when things may improve but what I do know is that hose who have been through down turns and recessions and bought when others ran scared did very well. Others all look back and say if only I had taken advantage of the soft market conditions to grab a bargain property. Many property investors are doing this in the UK to packed auction houses and in the US picking up bargains. But increasingly buy to let overseas is seen as a good bet - often with much smaller outlays than home.

With developers keen to accelerate sales they too are putting out some great offers. We urge potential investors to call us as great offers are made and then bought quickly by bargain hunters. We push our developers for special deals so call us to find out what is new and pocket instant equity in under market value property.

Of special note, we will soon have the Palm View Resort (six star) on Boa Vista (Cape Verde islands) offer announced, and today we have just one front line villa (no.1) offered on Tortuga Resort, (Sal island) special price of €699,950. Front line on Sal at this price is a BARGAIN.

In Dunas and Tortuga Beach Resort this weeks offers are as follows - please call 0011(0)113 313100 for more info or for a £225 Cape Verde viewing trip.

We have hand picked the following properties and applied bespoke terms and prices.

Enclosed is a new set of deals with excellent offers and prices – so get in there quick! I look forward to looking back in a few years at the gains our investors have made by buying now whilst the media is full of gloom.



Deal Number 1 on Tortuga (SPECIAL LOW PRICE) €154,750 (with option 3)

Block 40, Apt D0 (Type D) – this apartment is on the ground floor and is west facing, close to the beach and second pool.

MARKET PRICE €183,500, DISCOUNTED PRICE €175,000 (excluding option 3)



Deal Number 2 on Dunas (SPECIAL LOW PRICE) €323,907.50 (with option 3)

Dunas Villa 8 (Type B) – this villa has its own private pool and garden and is north facing.

SHOULD BE €384,950, DISCOUNTED PRICE €366950 (excluding option 3)



Deal Number 3 on Tortuga (SPECIAL LOW PRICE) €154,750 (with option 3)

Block 39, Apt A0 (Type D) – this apartment is on the ground floor and is south-west facing, close to the beach and second pool.

MARKET PRICE €183,500, DISCOUNTED PRICE €175,000 (excluding option 3)


Deal Number 4 on Tortuga (SPECIAL LOW PRICE) €150,500 (with option 3)

Block 44, Apt A0 (Type C) – this apartment located on the ground floor and is south-west facing and has clear pool views.

SHOULD BE €178,500, DISCOUNTED PRICE: €170,000 (excluding option 3)



Deal Number 5 on Tortuga (SPECIAL LOW PRICE) €154,750 (with option 3)

Block 01 Apt C1 (Type D) – this apartment is on the 1st floor is west facing and close to the main pool and entrance to the resort

SHOULD BE €183,500, DISCOUNTED PRICE €175,000 (excluding option 3)

Samra Bay will be one of the very best developments in new Hurghada and will be launched off plan in June. Located by the Grand Plaza, Intercontinental, Hilton and Steigenberger hotels the position is superb. Located on the beach front line and on the Esplanade pedestrianised area this area feels upmarket feel and very safe/

Many restaurants are springing up here as well as shops of all kinds. Frontline is getting scarce in Hurghada and we expect demand will be very high for Samra Bay as the developer finishes to a very high standard. There will be over 1,000 apartments and we therefore expect rental potential to be one of the best as it has only 5 star hotel as competition.

Viewing Trip Just £225 per person. Call 0044(0)113 3131000 to book now. In case you cant make it please see video of the site which will have a jetty for boats and safe swimming area.

Hopefully tomorrow we get the euro busting offer for Palm View Resort, Boa Vista island. Be sure to call or register on www.jet2letproperty.com. If rates improve for UK buyers in the future then this could end being a double benefit. Palm View Resort completes July 2010.

We also expect that the plot to the north of Palm View Resort will be a marina and to the plot to the south a hotel and casino. This is excellent news as it adds amenity to the area and therefore rental value.

Recent viewing trip feedback was excellent and the location was recognised as superb by all who went. Nearly all who went who had not already reserved, went on to complete their reservation. Contact us to speak to someone who has been and reserved. Boa Vista really is the best Cape Verde island and Palm View resort the only 6 star resort has the perfect location.

I know many buyers are watching currencies on a daily basis. Please see market report from IFX just in. o avoid currency risk think about fixing upfront or buy in Egypt where most of our property is quoted and contracted in UK Pounds.

Yesterday, stirling rallied, before slipping away from a relatively buoyant dollar to its lowest rate in the last 3 months after release of inflation data shows signs that a jump in British consumer prices is going to cause the Bank of England more headaches over the next few months.

British consumer prices surged 0.8 percent in April from March, far exceeding expectations for a 0.5 percent rise, and taking annual inflation to 3.0 percent, way above the central bank’s ideal rate of 2.0

Initially, with the consumer price index coming in higher than ideal the markets felt that this would stem of any chance of the Bank of England reducing interest rates, causing sterling to rise in value briefly against a number of currencies.

However sentiment changed during the session and opinion is now that the inflation risks alone would not stop the central bank from cutting rates, which would erode the pound's yield appeal.

The pound was also hurt by data released on Monday showing the weakest British housing price balance in 30 years. Falling retail sales, and a warning that British builders' financial results are being hit by the weak housing sector also stuck the knife in.

Traders and analysts are interested to see exactly how the Bank of England plans to reduce inflation. Historically high inflation hits economies that are experiencing high consumer confidence, low borrowing costs, and a generally feel good tone on the high streets. This sounds good but left unattended eventually leads to economic melt down where prices spiral upwards and borrowing increases to dangerous levels.

The usual way to combat inflation is to increase borrowing costs, by increasing interest rates, the net result being consumers and industry has less spare money and puts a tighter control on spending. To remain saleable product prices have to remain stable and inflation falls.

However, the situation the Bank of England finds itself in is one with high inflation and an economy that will not withstand increased borrowing costs. Inflation has been driven up by rising fuel and foods costs, the consumer has been spending more out of necessity rather than greed, being hit with higher borrowing costs will leave the majority feeling the pinch.

"The issue for sterling is that inflation is high, but the BoE can't hike," said Bilal Hafeez, global head of forex strategy at Deutsche Bank.

In an effort to fend off recession the BoE has already slashed borrowing costs by 75 basis points since December to 5 percent, and it was widely expected to drop another 25bp either in May or June. Rates remained the same in May heightening speculation they would be reduced in June but some analysts said that yesterday’s data raised the possibility that a cut next month may not be a done deal and the nest drop may not be until August.

You may see mini trends appearing over the next few weeks with groups of investors opting to invest in sterling whilst others sit in the wings and spectate. This may lead to a roller coaster ride for GBP/EUR and GBP/USD rates, your IFX consultant will be able to explain how you can protect yourself against fluctuations until things settle down.

Latest Deals. call +44(0)113 3131000 for more details

Deal Number 1 on Tortuga (SPECIAL LOW PRICE) €150,500 (with option 3)

Block 23, Apt A1 (Type C) – this apartment is on the first floor and is south-west facing and has clear pool views.

MARKET PRICE €192,950, DISCOUNTED PRICE €170,000 (excluding option 3)

Deal Number 2 on Dunas (SPECIAL LOW PRICE) €323,907.50 (with option 3)

Dunas Villa 8 (Type B) – this villa has its own private pool and garden and is north facing.

SHOULD BE €384,950, DISCOUNTED PRICE €366950 (excluding option 3)

Deal Number 3 on Tortuga (SPECIAL LOW PRICE) €154,750 (with option 3)

Block 26 Apt A1, (Type D) – this apartment is on the 1^st floor and is south-west facing located near the main pool.

SHOULD BE €185,950, DISCOUNT PRICE €175,000 (excluding option 3)

Deal Number 4 on Tortuga (SPECIAL LOW PRICE) €120,750 (with option 3)

Block 11, Apt C0 (Type E) – this apartment located on the ground floor and is east facing and is the only Type E apartment left on Tortuga.

SHOULD BE €144,950, DISCOUNTED PRICE: €135,000 (excluding option 3)

Deal Number 5 on Tortuga (SPECIAL LOW PRICE) €166,650 (with option 3)

Block 21, Apt C1 (Type D) – this apartment is on the 1st floor is south facing and has clear sea views

SHOULD BE €232,950, DISCOUNTED PRICE €189,000 (excluding option 3)

Gamsha Bay: Starting about one hour to the North of Hurghada Airport we have the site of Gamsha Bay project. Over 50,000 units proposed from Damac, 3 marinas, four golf courses, Sports areas, Hotels etc. Full details will be on web site soon but earlier registration will get the pick of the units.

El Gouna: About 25 minutes from Hurghada airport, this is fully operational with an impressive marina full with many £20m + boats (see picture left). Excellent restaurants and shops line the promenade around the marina. See picture above. Large 420m2 villas and very high quality apartments are now available through us. Price includes your own exterior and interior design service. The area is high security and gives a stress free area to relax without street sellers. This area gives a taste as to how Sahl Hasheesh will take shape.

South of El Gouna to Old Hurghada: Here is perfect beach front property territory with new hotels and apartments. A very large Carrefour supermarket is planned here. We have Hania Beach (front line), Orange Beach (front line, yet to be launched). and Pearl Vista (second line).

Old Hurghada: Real taste of Egypt territory with Sheraton street and its clubs, bars and vibrant shopping (see left). This is where tourism started and is thriving now. New marina already open with expensive new yachts moored.

New Hurghada: The Esplanade (Village Road) is impressive (see below) with a quieter feel and more relaxed pace than Old Hurghada. Like everywhere here, it feels very secure and with an ever growing mix of restaurants (Thai Garden, Hard Rock Cafe, Pizza Hut and traditional Egyptian) and the world class Little Buddha Restarant and Club, this is the place to enjoy a pre or post dinner stroll. Front Line property here is getting pricey as there is so little space left. We will have soon in pre launch Samra Bay (1,200 units 170,000 m2) from Orbit - where I saw the very high level of finish in Sahl Hasheesh. More info on this including video available on request.

Here we also have town developments of Lotus Breeze, Desert Pearl 1 (SOLD OUT), Desert Pearl 2, and Coral Sea Pearl, two minutes walk to the main town area. The new Zina Heights right on the Esplanade just in pre launch and West Side again right in the centre of town. For superb value we have Centre Residency 2 bedrooms from just £27,000.

Megawish:

Just a little further south we have the megawish area. Here we have Egyptian Pearl (second line).

Sahl Hasheesh:
This grand project by ERC will consist of 17 five star hotels and 12 four star. Three golf courses in three zones. Zone one course to be finished in June 2009. Already its taking shape and front line villas and apartments selling fast. Prices rising now that the Norman Foster and Partners' 7 star Serenia Resort and Marina construction has started.

Ocean Breeze in Phase 3 is now well under way but still some excellent villas and apartments available. Highly Recommended. Also we have front line developments of El Andalous and Palm Beach Piazza (see pool view left). Sunset Pearl and Red Sea Pearl have golf and sea views. All in Zone One.


See picture of Ocean Breeze under construction:















Dolphins off Hurghada Coast, Red Sea - a regular sighting: