subject: Property Investment in Hurghada by:Mark Burns [print this page] If your idea of the perfect holiday is to explore the mysterious pyramids of Egypt and discover its ancient culture, or relax on a white powdery sand beach and dive in amazingly clear waters, then you have to visit Hurghada. The magnificence of the legendary waters of the Red Sea and the scenic landscapes of the desert of Sinai are just some of the options available to you.
Hurghada is unquestionably one of Egypts more popular Red Sea resorts, amongst both the locals and the international visitors who are attracted by the superb climate, azure blue waters and world class scuba diving. The white sand beaches are stunning and a visitor will find wide range of watersports available on most of them. In the evenings, the wide selection of mid-range and luxury hotels and a large quantity of bars and restaurants is enough please everyone.
The opportunities and amenities available, coupled with the climate and friendly locals make it a popular destination with holiday-makers and long-term visitors looking for property as a holiday home, second home or as an investment.
The popularity of this region has resulted in a considerable increase in demand for property in Hurghada, something which seems set to continue for the foreseeable future.
However, one should bear in mind that Egypt is an ancient land, and only in the past 10 years has Hurghada developed into a town of 35,000 residents and evolved into the most fashionable beach resort in Egypt. Today, the town centre is divided into two main areas, the old town Ad-Dahar and Sigala. They both offer a variety choice of hotels, restaurants and bars catering for all tastes and budgets, whilst still retaining much of their distinctive and traditional character.
One of the main reasons why people are becoming increasingly interested in Hurghada as an investment opportunity, are due to its growing reputation as a centre of aquatic sports. You dont need to be an expert diver to appreciate the waters here as the snorkelling and swimming alone will offer many opportunities to explore the vibrant and exotic marine life. Opportunities exist for windsurfing, kiting, seafaring, deep-sea fishing and swimming. Many people are attracted to this area for the sailing opportunities and scuba diving, as the surrounding waters are warm and contain some of the best fish and coral found compared to anywhere in the world. If you prefer to stay on dry ground then explore some of the golf courses situated on here, there are a number of them in the locality with a par 3 course in Hurghada and an 18-hole course at El Gouna.
Established since the 20th century, development in Hurghada started in the early 90s with American, European and Arab investors helping to turn the area into one of the most significant on the Red Sea. From being a small traditional fishing village, it is now one of the most important areas on the Red Sea and its impressive beaches and long coastline continue to attract visitors. Today, the rental market is strong and growth projections very positive. With travel time from Hurghada International Airport less than 10 minutes to town it is a destination that is convenient and quick to reach from many parts of the world.
Egyptian rules and regulations regarding buying property are fairly straight forward, and are designed to attract investors to the country. The pro-investment Egyptian government is enthusiastic in its promotion to foreigners as a destination for property investment and offers freehold properties and mortgages, tax breaks and a straightforward buying procedure.
For the past few years a lot of attention has been focused on Egypts Red Sea and major developers from the Middle East and Europe have invested in various large scale development projects. The potential for extensive development has instigated a number of major development projects being announced in Hurghada and the surrounding regions.
Nowadays, Hurghada is a place that offers its investors excellent value for money, and there are still several properties presenting excellent prospects for long term investment. Hurghada real estate and properties can still be found at bargain prices, a situation that is expected to change as the destination rises in reputation and becomes recognized as a good investment for property buyers.
About the author
Mark Burns has extensive experience in the overseas investment property market, specializing in property and real estate and through the Offplanworld.tv website provides extensive coverage on the worlds major property investment markets including Hurghada property. http://www.offplanworld.tv/africa/property_investment_in_egy pt/hurghada If you wish to buy property off-plan or need investment advice please visit the website.
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