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Hurghada Village Apartments, Matar Road, Hurghada, Red Sea
- 104 apartments on 5 floors, ground floor plus floors 1 to 4
- 4th floor apts have secluded rooftop terraces
- Restaurant, cafe/bar, swimming pool, gardens, gym and convenient store
- Community development, gated and walled for privacy
- Reception area, fully maintained development
- West-facing apartments have views of the desert and mountains
- East-facing apartments have views of the swimming pool, town, mosque and sea (from 3rd floor)
Ongoing Management Services
- On-site management and maintenance service
- Insurances and utilities
- £300 per annum approx
- Rental housekeeping service £300 per annum approx
- Rental marketing service available
Building Schedule
Work commences May 2007, completion 12-15 months
Purchase contracts
- English language contract between buyer and developer at initial stage
- Dual language contract between buyer and developer on completion for registration
- Completion processed through local solicitor to include registration of ownership
- Ownership is ‘joint freehold’, rather than leasehold
- Builder’s construction guarantee: 20 years
- Builder’s finishing guarantee: 1 year
Solicitors fees
£300 – £600 (approx 1.5%)
Purchase tax
There is a 3% purchase tax that can be chargeable but rarely is. It is possible that it will be charged at some time in the future and you should allow for this.
Capital Gains Tax
There is no Capital Gains Tax and property can be sold at any time.
Residency
The owner of the property automatically gains the right to apply for a residents visa.
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