Reasons to invest in real estate in Hurghada
Now is the opportune time to invest in real estate in Egypt after the central bank of Egypt has decided to lift the restriction on the exchange rates allowing the Egyptian pound to float freely which gave the real estate market shock.
The real estate prices jumped up few weeks after the devaluation, most real estate developers increased their prices in between 10% to 20% on that point, a further increase in prices was highly anticipated, which pushed many people to invest in real estate taking advantage of the relaxed payment plans.
all these factors collaborated into generating a substantial demand for real estate and creating a very promising investment opportunities in the near future.
there are so many factors to consider when thinking about investing in real estate in Hurghada, Red Sea:
Hurghada offers you a wide collection of the best holiday resorts and other real estate objects in the Red Sea.
Low cost of living
Living in Hurghada is cheap and affordable compared to European cities. High exchange rates against the Egyptian pound make Egypt the perfect place to have your second home enjoying sun for 365 days a year.
Hurghada is a beautiful touristic destination. This inflow of tourists have created a booming market for holiday home buyers which in return have pushed the competition between the property developers. As you can find the best deals here on residential buildings starting from 11.000 EURO
Hurghada has excellent climate with sunshine all year around. the weather is hot and dry with very low humidity making the region a favorable destination for most Europeans.
management Service “optional”
As almost of Hurghada real estate offers and option to your the resort managment service in can you don’t use your property all year, that the resort management can handle rental for the time your are not here to have your cash back on your investment.
Safe and secured economy and banking systems
As the Egyptian banks do not issue credit cards, only debit cards which means the money already exit in account to spend from. Also nor mortgages on properties this why Egypt has not been effected by the world wide credit crunch.
Additional to this Egyptian bank interest rates afford in between 8% to 12% per year tax free and all Egyptian operating banks are covered 100% by the central bank of Egypt, which is the one of the main reasons why investors are moving their finances to buy properties and open bank accounts in Egypt.
Direct flights to hurghada from UK
It was very stable over the years especially after 2011 revolution, the value rises but never falls.