Property and Real Estate Investment in Hurghada

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 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.

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 provided, in combination with the climate and friendly people, make Hurghada attractive with holiday-makers as well as long-term visitors looking for property as a retirement home, holiday 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 as an investment opportunity, are due to its growing reputation as a centre of aquatic sports. You don’t 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. 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. A visitor can also find several outstanding golf courses in the area including a par 3 course in Hurghada and an 18-hole course at El Gouna.

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 the town it is a destination that people find convenient and quick to reach.

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.

For the past few years a lot of attention has been focused on Egypt’s 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 set off a number of major development projects being announced in Hurghada and the surrounding regions.

Today, Hurghada is a destination offering exceptional value for money. For an investor there is still possible to find Hurghada real estate and luxury properties at bargain prices, a condition that is likely to change as the area becomes an acknowledged investment destination.