Hi all,
I've just made a reservation for an apartment in AP16 Greens in Saidia. I've got a few questions i'm hoping you can help with:
* Do people think this is a good buy as its not in the prime AP block?
* I've heard that building is behind schedule. Does anyone have any more info on this?
* If it completes on scheule in 2nd quarter 2008, is it likely i'll be able to rent it out when the whole project isn't to be completed until 2010? Can't imagine people wanting to stay on a half built resort.
My main concern is that i'll have to cover the mortgage/maintenance payments until the resort opens.

i'm asking the developer these questions too but can't imagine i'll get a straight answer from them...

I'm new to investing abroad so sorry if some of these questions are a little obvious. Any info/opinions on this development would be appreciated.

Thanks.

quote:

Originally posted by full_sp:
* If it completes on scheule in 2nd quarter 2008, is it likely i'll be able to rent it out when the whole project isn't to be completed until 2010? Can't imagine people wanting to stay on a half built resort.
My main concern is that i'll have to cover the mortgage/maintenance payments until the resort opens.
.

Is there reason why you ask all these questions AFTER making the reservation and not before?

If you do not have enough funds to cover mortgage/maintenance payments without relying on rent, why did you embark in such a risky adventure?

You can always try to sell before completion or immediately after if the mortgage is too much of an expense.

I've made a verbal reservation only so far. No money has changed hands.
I can cover the costs, but would prefer not too. Just want to get some impartial about the resorts progress and their opinions on this development.

Hi, i dont think many people here have purchased on the AP plots, not sure if i am allowed to say this but some people on the 'totally property' forum mention the greens, you maybe able to get some info from there, best of luck.

I'm thinking about the Greens as well, or possible the fairways, the townhouses on that development. What's the web address of the total property forums though - I did a google but couldn't find anything...

Thanks

Janie, sorry i didnt give full info on the last post, if you type the following into google you will find the forum "totally property forum"

Cool, thanks, I'll take a look. Are there any other overseas property forums you know of that I can scan - it's so interesting hearing what others have to say...