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Investing in Property in Hurghada

By: Michiel Van Kets

If your idea of the perfect holiday is to explore the mysterious pyramids of Egypt and discover its ancient culture, or dive in amazingly clear waters and relax on pristine sand beaches, then you should visit Hurghada. The beauty of the legendary waters of the Red Sea and the picturesque landscapes of the desert of Sinai are just some of the options available to you.

Amongst both the locals and the international visitors Hurghada is indisputably one of Egypt’s more popular Red Sea resorts due to its climate, sapphire blue waters and world class scuba diving. With most people heading to the beach, the choice of watersports is broad and a selection of mid-range and luxury hotels and profusion of bars and restaurants satisfies all preferences.

The opportunities and amenities available, coupled with the climate and friendly locals, make Hurghada fashionable with holiday-makers and long-term visitors looking for property as a holiday home, second home or as an investment. The increasing popularity of this region has resulted in a significant increase in demand for property in Hurghada, something which seems set to only 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 property and real estate as an investment opportunity, are due to its growing reputation as a hub of aquatic sports. There’s no need to be an expert diver to appreciate the waters here as the snorkelling and swimming alone offer lots of opportunity to see the exotic and colourful marine life. You will find activities such as kiting, windsurfing, seafaring and deep-sea fishing. Every week, sailing and scuba diving attract thousands of visitors and some of the world’s best fish and exotic coral can be found around these warm waters. There are also several superb golf courses in the area, with an 18-hole course at El Gouna and par 3 course in Hurghada itself.

The town of Hurghada was founded in the 20th century, development in Hurghada started in the early 90’s with European, American, and Arab investors helping to turn the area into a tourist destinations. 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 Egyptian government is enthusiastic in its promotion to foreigners as a destination for property investment and offers freehold properties and mortgages, straightforward buying procedure and tax breaks.

A lot of attention has been focused on Egypt’s Red Sea for the past few years and major developers in property from the Middle East and Europe have invested in various large development projects. The potential for extensive development has set off a number of major development projects being announced in Hurghada and the surrounding regions.

Today, a property in Hurghada offers exceptional value for money, and there are still many properties which offer opportunities for long term investment. It is still possible to find a Hurghada luxury property available at an affordable price, a condition that is likely to alter as it becomes a familiar and acknowledged investment destination.

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Article Source: http://www.webcitymarketing.com/articles

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 world’s major property investment markets including Hurghada real estate. If you wish to buy property abroad or need investment advice please visit the website.

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