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OFF-PLAN PROPERTY IN EGYPT - REGENCY CONTINENTAL

Monday, 22 Dec 2008

The Regency Continental, situated in the Intercontinental region of Hurghada, is now in the second phase of its construction, and nearing completion. The complex has proven to be popular with investors and holiday homebuyers, and many of the units have been sold. The Regency Continental is a private property in Egypt whose location on the popular Red Sea coast, which was voted the top scuba diving location in the world just recently, is compounded by the fact that it is surrounded by 5-star hotels.

In keeping with the international reputation of Regency Resorts, the decor in these apartment units is of the highest quality. An imaginative Italian architect designed the interiors, utilising all the space to the utmost and making the upmarket modern interiors complement the classical lines of the building’s exterior. The starting price for these apartments is a mere £22,250, making them an extremely affordable investment in an off-plan Egypt property. The country has a booming tourism industry, and visitor numbers have doubled from 2002 to 2006, ensuring excellent returns from holiday rentals.

The constant balmy weather means that these apartment properties in Egypt can be rented year-round for short or long terms, in a country where tourism is predicated to increase by 6% each year. This growth is due to the investment that the government is making in infrastructure upgrades, but also because more low cost airlines have started direct flights to Hurghada.

The cost of living in Egypt is low, which means affordable management and maintenance costs and more profit for investors who want to rent out their apartments part- or full-time. Also, there is no capital gains or inheritance taxation on Egypt property, so resale profits are maximised. At this time, the demand for Egypt accommodation in this area surpasses the supply, which virtually guarantees a constant income from rentals.