offers more than a touch of the exotic.
The cosmopolitan resort
of Hurghada is one of
the hottest and most
sophisticated resorts on the
Red Sea Riviera.
This is a destination with
a long tradition of scuba
diving; the offshore coral
reefs here are among the
most beautiful in the
world, and Hurghada is
centrally located for these
and other uninhabited
islands of the Red Sea.
As a holiday resort it has
developed immensely;
even in the last five
years an array of bars,
nightclubs and discos have
transformed what used to
be a tiny fishing village into
a lively resort, with top
international DJs flying in
every week.
With high quality newbuild
properties in
Hurghada selling as fast
as they are springing up,
this has become a redhot
investment spot. The
steady growth in tourism
here has led to some
very lucrative returns for
discerning investors.
An indicator of just how
much growth this area is
experiencing is the huge
renovation work that
has been carried out at
Hurghada airport to cope
with the rise in traffic.
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Hurghada itself is still
seeing a great deal of
development work in
several areas along the
coast, particularly around
its new marina area close
to the popular Arabia
beach resorts.
If you are dubious about
investing in what is
essentially a developing
nation, it may reassure you
to know that the economy
in Egypt has been solid
and growing steadily for
many years, with a great
deal of foreign investment
and steady Government
economic reform.
But the property
development sector is in
its infancy in Hurghada
which means that holiday
properties are still
extremely low-priced, with
apartments in up-andcoming
areas available
from under £20,000.
Beachfront property for
less than the price of
a quality car? A prime
example of property that
gets the mouth watering is
the Oasis Marina, a truly
beachfront development
with studios starting
at around £20,000.
2 bedroom “villa”
apartments are less than
£50,000. “How is this
possible?”- one may ask.
Mainly through an
innovative payment
option whereby purchasers
need only pay for 60% of
the cost over the course
of the build, with the
remaining 40% being paid
for through a five year,
8% guaranteed rental
opportunity.
Property prices have
doubled in Egypt in the
space of two years, and
with the growth in tourism
projected to continue
its steady increase, the
situation certainly bodes
well for anyone wishing
to invest today and reap
the benefits of high rental
returns.
The real estate sector is
booming in Hurghada,
with a multitude of estate
agencies in all areas ready
to clamber to |
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your every need, offer help and advice on mortgages and guide you through the buying process.
A lot of the property in
Hurghada is even available
on interest free payments
over a period of time,
and some property prices
are so low that investors
with a reasonable amount
of cash do not even have
to resort to a mortgage
Investors wishing to make
overseas purchases may
be interested to learn that
Egypt is expected to see a
steady increase in tourism
until “at least” 2017.
