Red Basketball Shorts
Why Buy property on Egypt’s Red Sea Coast
For thousands of years, Egypt has been a hub of luxury and culture. Today, a growing number of investors seeking excitement are turning to Egypt property investment. With a rich history, sparkling water, perfect sandy beaches and top rated resorts, the towns along the Red Sea are ideal for property investment.
Know as the tourist capital of the Red Sea, Sharm El Sheikh, or Sharm, as it is affectionately named by its residents, is ideal for likely investors. With a warm climate tempered by the vast body of water, Sharm has a lot to offer for both the tourists and the serious investor. Resorts offer excellent access to water sports and scuba diving is especially popular, due to the clear waters and array of colourful marine life. It also has a buzzing nightlife scene with well known establishments as Little Buddah, which has the longest continuous bar in the Middle East, and the latest installment of the famous club, Pacha.
The value of property in Sharm El Sheikh is on the increase, meaning that now is the time to invest. Between 1982 and 2000, the total number of resorts grew from 3 to 91 and guest nights grew from 16 thousand to 5.1 million. While prices on property have increased over the last two years, it is still possible to find a luxury property from only $80 000 or a golf property starting at $50 000. With the cost of living low, a rental yield of about 10% – 15% and an anticipated continued capital growth, Sharm El Sheikh provides an attractive opportunity for those interested in investing in Egypt property.
While it is not as established as Sharm El Sheikh, Hurghada property also provides excellent opportunities for investors. Just a few years ago Hurghada was once a small fishing village, but in the last few years it has developed into a tourist hotspot with 248 000 year-round residents, and is now considered one the leading destinations along the Red Sea. Particularly renowned for its aquatic sports, Hurghada is one of the worlds best destinations for windsurfing, kiting, sailing, swimming, diving and sea fishing. Boats with glass bottoms are on hand for people who want to experience the impressive fish and coral without going in the water.
Quality property in Hurghada runs many thousand dollars less than Sharm El Sheik and carries more potential for capital gain of an emerging resort that has not yet come into full flourision. Because properties can rent the whole year potentially, rental yields are strong, at 10% -15% and sometimes higher for more attractive properties.
While these are a couple of the most popular, Egypt’s Red Sea offer numerous destinations perfect for investment. If you are looking for an established resort, an destination tourist destination or even your own little oasis, Egypt property is worth considering and can generate great financial and personal gains.
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