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| Hurghada Property - a Favourite Place for Property Investors |
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Hurghada is known worldwide especially for its coral reefs and magnificent climate. It is an ideal place for divers and water sports lover. It is a six hours drive from Cairo and this town sprang up early in the 20th century. Served by Hurghada airport with direct flights from the UK, the area stretches from El Gouna in the North to Sahl Hasheesh in the south, a stretch of some 40 kilometers parallel to the beaches of the Red Sea. Originally a fishing village on the Red Sea from where fisherman would come over from the Nile valley, Hurghada has turned into Egypt's newest property market. It is strategically very well-placed, with Safaga Soma Bay with its beautiful Sheraton just to the south and the golf resort of El Gouna to the North. It is an excellent time to invest in Hurghada property owing to its improved infrastructure. Ever since President Mubarak of Egypt opened his country's property market to foreign buyers in 2003, the Egyptian property market has boomed. The most favored area for UK buyers is the area around Hurghada. Vast pipelines from the Nile ensure that an area that was once a desert is supplied sufficiently with water to cope with the demands of a major expansion in population. New front line beach projects are being built along the stretch from El Gouna to Hurghada. It is a bustling town full of shops and bazaars. New apartment blocks are being built to European standards. Further resorts are planned along the coast such as the Damac project which will include several thousand properties Hurghada property is a hot spot and the reasons for its boom are freehold property, mortgages, low prices, front line beach is still available off-plan, and year round rental season. These reasons have make Hurghada hot among the property investors. Apart from these this is a quality location, English speaking people and with a level of service from the Egyptians that would be hard to find anywhere else. The cost of living is still very low. Hurghada is seen as a buyer’s paradise at the moment as there is something available in everyone price bracket that what the one attraction is apart from the good all round weather and low prices on nearly everything. The leading Red Sea resort of Hurghada is a great place for those considering Egyptian real estate. There is a wide range of property for sale in Hurghada, with many properties coming with sea views. The city has a population of 40 thousand inhabitants and has long been a draw for yachtsmen, scuba divers and sail boarders. It is known as a party town and has a comprehensive range of top class nightclubs and sophisticated restaurants. The sea off Hurghada boasts some of the finest coral reefs anywhere in the world. If you don’t fancy donning a wetsuit and flippers, there is always the option of taking a trip in a glass bottomed boat. |