# What is the chance to sell a Villa in Hurghada or the Red Sea area



## samertalat (Sep 30, 2010)

A question to someone who lives at the Red Sea , meaning Hurghada , El Guna , Dahab Etc..
Do you see people buying Villas in these days since Europe and the USA is in such a big recession ?
Would it be easy for a person to sell his Villa or any property now fast?
I have been searching in Hurghada and the area and have seen Villas since 2008 and 2009 still in the market for sale and the owners or real estate agents raising the price ? Isn't that stupid ?
I know the the agents tells the owners oh I can sell it for you at a higher price . Of course Lie to them since they want a fatter commission to earn .
I saw a half villa at Mubarak7 for 95000 Euro and now he is asking for 130000Euro .
It has been since early 2009 and I wrote him several times , But now I offered him Less than a $100.000 and he wants to talk and wants to sell it , Since he thought that he was smart , went and invested all the money he has on this half Villa(It is a real estate Egyptian broker) though that he will make Millions of $'s profit and he is willing to sell and get rid of it ASAP.
I am not rushing in t it or other things but would like to know from Locals who lives there how fast people can sell if they buy ? Or if there are any buyers at this hard time ?
I see many Villas and half Villas at Mubarak7 unsold and some are unfinished and all waiting for buyers . But where are the buyers , Or is the area is so bad that people do not want to buy there .
Your input will be appreciated .
Regards
samer


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## MaidenScotland (Jun 6, 2009)

Estate agents are going to tell you yes you can sell easily....


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## samertalat (Sep 30, 2010)

MaidenScotland said:


> Estate agents are going to tell you yes you can sell easily....


I know that they always say things just to get the listing you are 100% right .
I never trusted one of them , In the USA you need them cause people always buy a property listed by them , I had my house for sale by owner but no one bought it , I sold it in the first few minutes listed by an agent not having the sign at my Villa .
Amazing people , Thats why the USA will never ever get there , Like Europe , look at the Euro it is 1.42 today I was suppose to buy some when it was 1.26 per the 1$ but did am intake and like this I lost over $250.000.00 in a month time Just for waiting on buying Euro's . But hey that is life .


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## Helen Ellis (Aug 9, 2008)

I wouldn't buy there, I wouldn't even want to live there for free. Most people I know want a villa with a sea view, or at least easy beach access, and there are still some around. They will always sell if the price is right and they are to western tastes, you'd have to pay more than 100,000 euros though. Most of the villas there seem to have been sold to investors, most of the apartments too come to that, but there are not so many end buyers now. 
I would start looking at other agents websites for comparisons, and for the private sales too, sometimes you can buy a resale for less than the developer is selling for. 
I have seen some lovely villas, and some fixer uppers too, starting at about 1,400,000 EGP. That one was a 4 bed with garden, on the beach, with use of a large pool.


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