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2 bedroom apartment for sale Marsa Alam
Marsa Alam | REF: 9320 | |
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| Price: EUR 83,500 | | Development: Marsa Alan Beach Resort | | Property Type: 2 Bedroom Apartment | | | | These two bedroom apartments are on the raised section of the resort closest to the main swimming pool and shopping malls, these apartments give the option to take advantage of the rental guarantee averaging 10% over five years.
The two bedroom apartments Type D, Three types of Apartment share this floor plan the garden apartment which contains and additional garden. | | | The Middle Apartment and the Penthouse which benefits from a larger terrace and the obvious views gained from being on the top floor.
Inside the two bedroom apartment you will find two bedrooms, open plan spacious living area with fully fitted kitchen a family bathroom and private terrace.
Sizes are
Ground Total area of 155m2 including Garden
Middle 99m2
Penthouse 103m2
| | Marsa Alam Beach Resort not only offers one of the finest beach front location for its property owners there is the option of a high bank backed rental guarantee scheme averaging 10% per year over 5 years. Developer funded mortgage and use of escrow accounts over a great opportunity to purchase in this wonderful resort. |
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| PROPERTY FEATURES AND AMENITIES |
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 | Spa, wellness Thalasso and Beauty Centre |
| Restaurants, bars and nightclub |
| 24 hr concierge, |
| reception and room service |
| 24 hr in house security services with manned gate |
| Medical and dental services |
| Limo service and car rental |
| Shuttle service to and from the airport |
| In house serviced laundry |
| Travel and Excursion services |
| Shopping Mall |
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| Supermarket |
| Internet connections in all apartments |
| Climate control as standard |
| Elevator access for all apartments |
| Amphitheatre Cinema |
| Children’s Playground |
| For tennis courts and two basket ball courts |
| 10 swimming pool both salt and freshwater |
| 500 metres private beach with house Coral and two private jetties |
| Dive centre and water sports shop |
| Botanical Landscaped Gardens with streams and fountains. |
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The Marsa Alam beach resort offers investors fantastic flexible options for their rental property.
You can opt to have your apartment managed and rented through the rental pool on site, rent the property yourself or keep you apartment for your own use all year around.
The rental on the suites will be derived through the use of four separate rental pools, A,B,C and F
A group will consist of the 24 presidential suites
B Group the 402 Junior Suites
C Group the 24 Executive Silver Suites
F group will 33 Executive Gold Suites.
The Net income will paid to the owner on a pro-rata basis accordingly to the availability and location of the residential apartment, The income will paid in Euros quarterly in Areas from the completion of the residential apartment. This ensures that all residential suites receive a share of the rental income as a whole, not just when the individual apartments are being utilised. The conservative prediction of the suites is 10% per annum and this will vary dependent on occupancy levels.
Therefore higher the occupancy level of the resort, the higher rental return. You will have unlimited access to your apartment under the rental pool conditions, however you will not receive rental income whilst yourself or family and friends use the apartment.
If you decide not to the rental pool a fixed maintenance charge will be applied of <,br>
Type A 60 Euros per month
Type B 45 Euros per month
Type C 60 Euros per month
Type F 70 Euros per month
Variable costs such as water and electricity will also be charged monthly, Both costs will be subject to yearly inflation and indexation by Government increments.
The service costs cover all charges concerning the suite, such as local taxes, maintenance of the buildings, security, costs of membership to the owners association, insurance and rental through the management organisation, as well as the replacement of the furniture if any damage is caused by the guests.
Rental Return 2 Bedroom – 2 Bedroom Apartments
The two bedroom apartments include a 5 year rental guarantee, the guarantee can be covered by the developer and a European bank.
Year 1 6%
Year 2 8%
Year 3 10%
Year 4 12%
Year 5 14%
Should you wish to have the added protection of a bank guarantee a charge will be applied by the European bank of between 1,042 euros and 1,483 Euros dependent on size of apartment.
You are entitled to six weeks usage this can be taken at any time, but a three month notice should be given to ensure use of your own apartment. The maintenance fee and variable costs are covered in the rental guarantee, however if you wish not to take the rental guarantee a monthly maintenance fee of 70 Euros will be charged plus additional costs of water and electricity.
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Stage payments can be made but a 10% additional charge is made to cover stage payments of the purchase price.
The Payment plan will be broken into the following stages
10% surcharge on Signing
10% site development
10% start of Foundation
20% start of concrete structures
15% start of brickwork
10% start of electric and plumbing
15% Start of plasterwork
10% Start of finishing plasterwork
10% on completion.
Break down of payments
1) A reservation fee of 1500 Euros is paid to allocate the unit and to take it off the market.
2) The property price minus reservation fee, together with the furniture pack price, escrow fee is to be paid into escrow within 28 days, the escrow agent will release funds in stage payments per block as below.
A) 10% following the start of the infrastructure ( excavation works, water and electricity station, water piping, electricity cabling, sewerage and construction of resort fence ).
B) 10 % following from start of foundation
C) 20% following from the start of concrete structure
D) 155 start of brickwork
E) 10 % from the start of brickwork and plumbing
F) 15 % from the start of plasterwork
G) 10% following start of finishing work
H) 10% on completion
3) An escrow and title deed fee of 1,050 Euros is payable which consists of :
a) Due diligence approval of the developer
b) Due diligence approval of the Egyptian Land ownership / Government planning approvals,
c) Due diligence of all the plans and construction methods as per industry standards
d) Due diligence of the management company
e) Setting up of Escrow accounts
f) Raising of contracts
g) Monitoring escrow accounts in Europe as per the photographic evidence and structural reports.
h) Official Property certificate in Egyptian and English
4) The buyer receives an official property certificate in Egyptian and English
5) Final inspection and delivery of all facilities
6) Ten year construction warranty starts
The payments and purchasing procedure at Marsa Alam beach resort has been designed to be as cost effective and straightforward as possible.
The breakdown of payments shows the various stages of the purchase that takes place from several parties.
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| Listing Views: |
840
Listing Last Updated 14 Aug 2010 13:15:21 | | |
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