Real Estate Egypt, especially in the coast of the Red Sea is famous for being one of the least expensive in the world. Note the use of the least expensive; in marketing circles, people frown on the use of the word cheap, but that’s not why I avoided it here. I avoided it here because the ownership of the Red Sea real estate is not cheap; it is a bargain for what you get for your money.
Egypt is one of the fastest hotspots growing tourism in the world. In an interview with the editor About Property earlier this year, the Association of British Travel Agents said tourism in Egypt from Britain had grown about 20% per year in recent years and predicted that it would accelerate to 25% this year, the strong euro forces people to look outside the euro zone for a cheap stay.
Riviera Red Sea encapsulates some of the rapid growth hotspots tourism in Egypt, including Sharm El Sheikh and Hurghada. In both places, you can find the best investments and houses that Red Sea property and probably Egypt real estate as a whole has to offer. With property ranging from as little as £ 15,000 to luxury villas of more than £ 1 million, the region has something to offer investors all of tastes and budgets.
The average price of a luxury 2 bedroom apartment in the area is less than £ 40,000. The average income of these properties would be around £ 300 per week. Area homeowners have now reached 15-20 weeks of occupancy per year. Making the calculations of these data, the average rent of production on the property is 12.5% gross. It is therefore not surprising that most of the Red Sea properties for sale at the moment are offering guarantees very impressive rental yields 8% and upwards.
However, property in this beautiful part of the world comes to another important advantage, so that long-term investment in real estate in the area deserves detailed examination. “Most of the coast of the Red Sea is a National Park, or belongs to some protectorate, both underwater and on land. Desert and marine life are protected by a series of laws, and visitors not complying with the regulations may be subject to heavy fines.” Source Wikipedia. Therefore, anyone who buys the property of the Red Sea can do with the certainty that the area will never be developed throughout. This also means that demand will exceed supply permanently, putting an upward pressure on prices on Red Sea property in the future.
Most people who buy real estate in Egypt – as most places – right now, they do so on the basis of the air-exclusion lease, because the crisis has shown that all equity securities can go up or down easily as they can climb. However, the capital growth potential will always be a factor in the process of decision making. So adding the protected area of potential growth capital, impressive rental yields mentioned above, the property of the Red Sea provides a very powerful investment package.
In other words, even before mentioning the things that tourists come by to see the beautiful weather, beaches, and world renowned marine life attracts divers from around the world that make the Red Sea property the perfect for lifestyle buyers also. In the end, you can say that the property on the coast of the Red Sea has something for everyone, and if you are looking at buying a property abroad, then a review detailed consideration of the region could bring about long-term benefits.
We also have mouth-watering Red Sea properties at Port Ghalib, contact us for more details.