Property in Hurghada
Crystal blue waters, desert sands and year-round sunshine make Hurghada a popular destination with tourists from all over the world. An international water activity centre, Hurghada is a favourite resort for divers, swimmers and surfers. Egyptians, Saudis and other Arabs have come to join the mainstream of Europeans and Americans who travel to Hurghada throughout the year.
Property prices in Hurghada are still decidedly low compared with both Europe and other seaside hotspots like Morocco and Turkey. Furthermore, property in Hurghada has shown rapid price appreciation in 2007. Indeed, Hurghada’s prices increased by at least 30% in the first half of 2007. On top of this is Egypt’s impressive economic growth, especially when compared with most of its Middle Eastern rivals. Egypt finished 2006 with a striking growth in GBP of 5.7%.
Rental yields are good in Hurghada, where tourists mostly rent by the week. The right property should yield 8% net.
There is a wide range of property for sale in Hurghada, and the specific needs and budgets of investors are easily met.
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