Hania Beach design Launched today!

Hania Beach images released today. Please go to http://www.jet2letproperty.com to view.

This building brings a real architectual integrity with a contemporary building but also reflects an Egyptian landscape. Designed so that most of the 171 apartments get sea views and with an attractive and large swimming pool. This is an excellent beach front line buy.

Allocation of units expected very soon now. Just waiting for final floor plans and confirmation of common parts.

Refundable £2,000 reservation fee.
Egypt viewing trips £225 per person - a whole one week through us at Jet2Let.
Rental company established for Hania Beach to ensure high letting yield

Buying Under Market Value - A Guide

Opportunities exist right now to get genuine under market value off plan property. Why? With less development finance available for developers, your agent should be working very closely with the best developers to get under market offers. Where? For example we at Jet2Let Property work very closely with reputable developers in Egypt and Cape Verde, to deliver to our investors a share in the development profit in return for a commitment to buy. We aim to get our early investors a bigger slice of the equity upside for early commitment.

The other advantage is that I believe that there is often is less risk is attached to developments that are under market priced, and therefore sell the quickest. One example we are promoting is in Egypt and Hania beach, Hurghada for example. This is a front line beach development of 171 apartments, mostly with sea views of which in just five weeks was over 50% reserved. One bedroom apartments still available from £42,000 (£700 per m2) and studios even less - but will be going up to over £900 per m2 soon as the developer can raise prices closer to those of other comparable developments, £950 plus.

How do you make comparisons for under market to other property offers? You should focus on property location, design, quality, facilities and rental potential. Due diligence is part of this process to ensure that the developer is reputable and that its not an under market offer that is “too good to be true”. Caution should also be exercised when looking at comparable property, and these should include completed property prices as well as other off plan property offers. So a good mix of buyers from many different countries rather than overly dominant UK resorts because this removes reliance on one single country for resale interest.

Overall we are entering good bargain hunting time for well located and under market value property.

£700 per m2 front line in Hurghada

Today I have been speaking to the MD of the UK developer of Hania Beach. Delighted that I have had confirmation that some important finish details such as branded bathrooms with decent showers and quality tiles that I submitted to the developer have actually been incorporated. Final plans due soon and images in a few weeks. Due diligence completed here and satisfied developer owns land etc. As always our clients always use a lawyer to verify ownership and for due diligence.

The investor and buyers response to Hania Beach, front line has been superb. Priced right now at 30% less than competing developments. 125 apartments on reservation (refundable reservation fee) out of 171 apartments and t specification is going to be top notch here. This would be a good buy at £1,000 per m2 but at £700 it a steal. Price goes up to £800 soon and £850 in a around a month. Final sell price will be £1,150 - if there are any left of course.

The policy of pricing to sell gives comfort to both the buyer and the developer alike and is just what is required to make and a successful development.

However this is only part of the story an excellent development requires a strong rental demand giving investors a growing rental return. Again this is where so far matters are looking good for Hania Beach with a company already appointed to manage tour operator rentals and most importantly to actively promote the development to the travel companies.

Overall the image of the Egyptian Riviera is changing fast from a destination of specialist and marginal appeal only a few years ago to one that is being advertised as a mainstream high quality and value destination. Easyjet now flying there is yet another part of the jigsaw which will I think will stimulate further interest from both travelers and property investors alike. I expect to see more flights added over the next 12 months as existing flights are very full.

The cost comparisons with Spain are that property here, like for like, is less than a third of Spanish prices. One investor said to me that even in todays market he could not find front line Spain at less than £350,000. This value is further enhance if you consider that the peak rental periods of Christmas, New Year, February school half term, Easter, May school half term, October school half term are all peak rental seasons but mainly low rental season in Spain so opportunity for high rentals in these peak periods exceeds the typical Spanish Costa destination.