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Jan
09
 
 HURGHADA BOOM IN INVESTMENTS
 Hotels & resorts magazine
Europeans are becoming more adventurous these days in their choice of holiday destinations, and their interest is stretching beyond the sun, sand and sea of the typical Mediterranean resorts.

One destination that is greatly benefiting from this trend is Egypt, whose appeal has soared in recent years thanks to its year round sunny climate and the fact that it
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.

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
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.
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