Buying in Sharm el Sheikh or Hurghada

john205

I am thinking of buying a cheap apartment in Sharm or Hurghada and wondered if anyone could advise which resort is better?

I would want to rent it out all year round so I was thinking renting it to a local egyptian might be best

I have already looked into some of the pitfalls such as seeing documentary evidence the seller owns the apartment AND proof of permission to build on the land and someone has already told me HSBC will offer free insurance if you open a bank account at Nabq bay (Sharm) ...does that apply at both resorts? ...are there any other things I need to check ?

Thanks

Annisele

Do you know about the local laws?

I know absolutely nothing about the rest of the world, but I do know that English law has a very large number of traps for unwary landlords. In England you can end up with all sorts of criminal convictions if you mess up.

Also, why Sharm/Hurghada rather than the UK?

BitterAndTwisted

There's an "interesting" thread about someone's trials and tribulations after having bought an apartment in Hurghada. Got himself absolutely scalped by the sounds of it. If you do a search of this forum I'm sure you will find it.

tomitma

Try www.holidaytruths.co.uk there is a forum there where people have bought in that country, it advises you of the pitfalls.

G_M

Sharm el Sheikh ?
Slap bang between Egypt and Israel. Now what happened last time they had a war..? Oh yes, S el S was criss-crossed by armies and gunfire. Of course fortunately there's no longer any disputes in the area, no animosity or distrust, and no chance of external nations stirring up discontent.

themull1

I wouldn't do it, would be too scared of losing my money.