Egypt Property Buying Guide to 2010
Egypt has long been a favorite for British tourists and it's easy to understand why
, there's so much to see and do, the weather is exceptional with sun for much of the time, the choice of hotels has always been amazing and, of course, it would be impossible to go to Egypt without swimming in the wonderful Red Sea.
In the last few years there has been a change. As more and more people have decided to own a second home abroad, Britons have started to think of Egypt as a country where they could purchase a property and then rent it out to holidaymakers. Clearly, this could help to offset the running costs of owning a property in another country.
In the turbulent world in which we live today, Egypt is seen as a secure country with a strong economy and a legal system that enables foreigners to have peace of mind about owning a home there. It's important to point out that Egypt provides potential property buyers an exceptionally low entry level into the market. While prices are low, it should be remembered that in some cases, construction quality from local builders may well be poor and not include a particularly good finish.
Egypt provides potential property buyers an exceptionally low entry level into the market.
Egypt, a land where culture and history are almost as long as time itself, is now following many years as one of the world's most popular tourist destinations, by opening its doors to people who are looking to purchase great value properties and who want to enjoy the country's natural beauty and fabulous climate.
With Egypt just five hours flying time from the UK, many British visitors (according to the Egyptian Ministry of Tourism more than 1.2 million British nationals visited Egypt in 2008) are taking advantage of the low cost of living and the growing number of sports centres such as golf courses and dive centres, to own a holiday home that is ideal for rentals.
It should be remembered that Egypt only recently started attracting property investors. It's a newcomer in the second homes market and this is one of the best times to take advantage of low property prices and a choice of exceptional homes. Many people think of Egypt as a country of deserts and one river, the Nile. The reality is that this is a country with a coastline of 2,450 kilometres and marine centres such as Sharm el Sheikh, which is rated as one of the best scuba diving centres to be found anywhere on the globe.
Two centres that attract visitors to Egypt
Cairo, the vibrant and exciting capital is one of the largest cities in the world. Home to an ultra modern airport and one of the fastest growing cities in North Africa, Cairo is awake,noisy and buzzing 24-hours a day, has amazing shopping in the Khan el-Khalili souk, fabulous museums, great hotels and, of course, the Pyramids. But Cairo is only the start. The other attraction for many tourists is the Red Sea coast. While a number of resorts are offering property investors the chance to buy a second home, it's probably Hurghada where the focus is for growth from the Egyptian government. Millions have been poured in to develop the new marina and the current 200,000 strong town has a population target over the next six years of 1 million people. While Sharm el Sheikh may
be more established, Hurghada is just witnessing the start of its blossoming property market.
Overall, Egypt has a bright future both among holidaymakers and property investors. With the infrastructure getting better all the time, much improved internet access, great beaches and new golf courses, more and more people are being drawn to a country that combines the best of the ancient and the modern - Egypt.
Red sea areas for property buyers
There are several exceptionally good reasons for owning a home in Egypt. The first is that the cost of living is low, the second is that the sun shines a great deal of the time and the third is that properties are inexpensive. The first two points are a pretty good indication that if you go ahead and purchase an Egyptian property, the chances are that rental demand should be high.There are a handful of really great centres on the Red Sea coast that will be ideal for anyone looking for a home in Egypt. In addition, if you are intending to rent out your property, it's important to choose a town that is popular with tourists. But what are these modern centres like? Are they all dusty towns on the edge of the Egyptian desert or are they modern developments, providing visitors with easy access, comfortable hotels, top sports facilities, the best in entertainment and a great nightlife? If you are planning to rent out your home, your tenants will be looking for all of those and you really need to plan ahead by checking out all the options and by taking advice from professionals. Certainly they all provide excellent facilities, are easy to get to from the UK and should provide you with plenty of visitors to rent your home. It is important, if you thinking of buying a home in Egypt, to find a developer that has a UK base if for no other reason than you will be able to keep in regular and easy contact.
Property in Hurghada
Demand has grown continually at locations all down the Red Sea. Like so many Egyptian destinations, Hurghada was, for many yeas, a small fishing village on the shores of the Red Sea and located close to the sands of the Sahara desert.
Today Hurghada has become a world-class resort and is known internationally as a major centre for water-sports. Windsurfing, sailing, deep-sea fishing, snorkeling, diving or simply lazing on the beaches that extend for a total of 20 kilometres in the year-round sunshine means that the town is a magnet for those who love being in or next to the water. And you can do all of this in temperatures of between 25C (winter) and 35C (summer).
The other bonus with Hurghada is that because it is home to so many different activities, there's no need to go elsewhere. Golf at the Gary Player-designed Cascades Golf Resort and Country Club riding, bowling, going to a health club, checking your e-mails at the Internet caf, shopping, excursions to nearby islands, day trips or safaris by camel or jeep - the list is endless.
And all that is before you start to sample the dozens of restaurants serving an enormous range of food from different parts of the world. After dinner, there are plenty of clubs and bars to enjoy. Hurghada is located between the famous temples at Luxor in one direction and Cairo, home to the Pyramids and the Sphinx in the other.
It's no surprise therefore, that so many people are looking to purchase properties in one of the developments that are part of Hurghada. Prices are unbelievably low for anyone from the UK, the quality of the buildings is excellent and it seems as though Hurghada has a very bright future.
Sahl Hasheesh Real Estate
Quite simply, the resort of Sahl Hasheesh is five-star living. The town is home to a number of top quality hotels, a 12-kilometre beachfront and is located just 25 minutes from Hurghada's international airport which means that visitors arrive without being hassled and exhausted.
Additionally, there are direct flights form Europe. On top of all that, it is home to a top class marina and yacht club and in the future this will be the largest Marina in the Red Sea. The sum of around 175 million was spent on the resort at the outset to ensure that a complete infrastructure was in place. This included roads, water and electricity supplies and the promenade. Even though work is continuing at Sahl Hasheesh, this is all due for completion in about four years time.
The aim has been to create such exceptional facilities, attractions and entertainment that anyone staying at the resort would have everything at their fingertips. International architects were brought in to design a resort that offered property owners and tourists quite simply the best. Th intention is that in the long-term, Sahl Hasheesh should rival Mediterranean resorts such as Cannes.
The Facilities
It's very easy to say that a resort will have something for everyone, but the fact is that it would be hard to think of anything that Sahl Hasheesh won't be able to supply to itsvisitors. The facilities will include a theatre, golf courses, a polo club, an equestrian centre, a theme park, botanical gardens, Sea World, Water Park and a cinema complex. Of course it goes without saying that there will be top quality bars and restaurants, a retail centre, superb diving and snorkelling.
Property in Sharm el Sheikh
In recent years, Sharm el-Sheikh has become one of the best-known destinations in the region. This is very much a year-round resort with pleasant winters and hot summers, an international airport and superb diving.
Now the resort is home to a wide range of accommodation and even at the top end, prices for Europeans seem inexpensive. For the active, there is an enormous amount to do from bowling to riding and go-karting to bungee jumping.
Six bays make up the resort of Sharm el-Sheikh with Na'ama Bay home to some of the hotels that are part of well-known global chains. These include Hilton Hotels, Mvenpick and Marriott. Sharm El Maya (part of Sharm El-Sheikh) incorporates some very attractive restaurants and cafs.
If any one place in Egypt, indeed along the Red Sea coast, can be called 'the most beautiful underwater Paradise', a firm contender has to be Sharm el-Sheikh. Here, divers can find crystal clear water, the most beautiful corals, gorgeous fish and superb flora. Quite literally, this is for anyone who enjoys getting in the water and watching scenery that is completely out of this world.
Golf at Sharm El Sheikh
But this isn't just a destination for divers. Sharm el-Sheikh is home to a par 72 Championship golf course. Located a mere 10 minutes from the International airport and Na'ama Bay, the course opened in 1997. It features 18 man-made lakes and 1,250 trees have been planted. A double-ended practice centre is home to the Jolie Ville International Golf Academy and beginner and advanced courses are available.
El Gouna & Marsa Alam
In 1989, the first moves to create the resort of El Gouna took place. Now, two decades later, the dream has become reality. The original developers are involved with the town's development and the company manages all the day-to-day maintenance and upkeep of the city's utilities such as water, power, roads, the hospital and security.
In addition, a group of artists, environmentalists and sports enthusiasts have all made El Gouna their home and for the sports enthusiast, both resident and tourist, there is a huge range of things to do.
Golf
Golf fanatics will love the 18-hole championship El Gouna course, with its three different men's and ladies' tees, lagoons and desert rough. The Club welcomes golfers at all levels and rental equipment and driving range facilities are available as well as PGA tuition.
Kitesurfing and diving
Kitesurfing enthusiasts have recognised the extraordinary potential for their favourite sport and five Kite Centers have the latest facilities, equipment and fully-trained staff to help even novices with this thrilling sport. El Gouna's dive centres offer a complete range of courses, including PADI diving certification, from complete beginner to professional level. Beginners can start in heated pools and then move on to calm reefs. The sea will also give divers the chance to see and to interact with many underwater creatures, including dolphins.
Refresh yourself
El Gouna is where you can enjoy some much-needed pampering, from relaxing on the beach to visiting one of the
world-class spas. Once you've got your energy back, why not go out in the evening, have a delicious dinner and then have fun at one of El Gouna's clubs and bars?
Marsa Alam
Once upon time, Marsa Alam, Egypt's southernmost Red Sea resort was a small village dependent on fishing for survival and income and is still undeveloped enough to put peace-seekers on cloud nine. In recent years the town has been experiencing not so much a major boom as a slow blooming of Red Sea dive tourism.
Located about 790 km south of Cairo and 300 km to the south of Hurghada, Marsa Alam boasts a virgin coastline that is home to some of the best coral reef dive sites in the world.
Ever since the construction of Marsa Alam Internationa airport in 2001 at nearby Marsa Ghaleb, the town has grown steadily into a holiday resort destination which is expected to rival Sharm el Sheikh in years to come.The shallow reef called Marsa Abu Dabab, which is ideal for the novice diver, gives them the chance to meet a dugong, or sea cow. These gentle creatures are believed to have been the basis of mermaid legends when glimpsed swimming in the water from a distance. Samadai Reef, known as Dolphin House, is home to a large group of spinner dolphins and this will be an ideal chance to get up close with these extraordinary creatures.
For real dive aficionados, where better to stay than the Marsa Abu Dabab Dive Lodge? Marsa Alam offers visitors superb desert views framed by rugged mountains where trekkers can find rare wild life, while the Red Sea brings with it great sports fishing opportunities. And of course, if you get bored with the sea and the beach there are always desert safaris. Marsa Alam's appeal rests in its tropical appearance where you'll find undisturbed peace and tranquillity. And although more and more tourists are making their way to this gorgeous destination, it's still one of Egypt's best-kept secrets.
Egypt, Morocco Or Turkey?
The reality is that property investors found Turkey and Morocco some time ago whereas Egypt is only just receiving the attention it deserves.
Certainly in the case of the first two, there is a risk of the tourist market becoming over-saturated whereas Egypt is going through the initial stages of a period of major expansion.
Only recently has the spotlight focussed on the Red Sea property resorts and the huge potential that they offer. In addition, the entry costs to the
Egyptian property market are exceptionally low even when you compare them with Turkey and Morocco. And among the advantages that Egypt has is that the cost of living is still low in comparison to the other two and the climate is a major factor in drawing visitors to Egypt with a season that really is year-round. Resorts such as Hurghada, Sahl Hasheesh and Sharm el-Sheikh are growing in popularity and thanks to government intervention; the country is emerging relatively unscathed by the worldwide financial crisis.
While there are similarities between the three countries (all three have some Mediterranean coastline, all three have come to the attention of foreign property purchasers, all three offer attractive developments), nevertheless Egypt definitely has the advantage thanks to its position next to the Red Sea, its newness in the market place and its low cost of living. While it's important to examine each country's political and economic track record before making a decision to purchase, clearly Egypt has the edge.
Egypt Property Buying Guide to 2010
By: benjash
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