WHY INVEST IN PROPERTY IN Red Sea?
The Red Sea has a collection of the best holiday resorts and real estate objects in the world. Not to mention its diving paradise, Red Sea's underwater protectorates are among the best in the world, a haven for divers and snorkellers alike. There are a lot of golf courses near resorts in Sharm El Sheikh and Hurghada the beach is never far away.
The Red Sea has excellent climate with sunshine all year around. The weather is hot and dry with very low humidity making the region a favourable destination for most Europeans. Average winter temperature 24 degrees Centigrade.
LOW COST OF LIVING:
Living in The Red Seais cheap and affordable compared to major European cities. Exchange rates are high against the Egyptian Pound making it the perfect place to have a second home under the sun. Gasoline, for example, is only about 17 pence per litre in Egypt.
HIGH RETURN ON INVESTMENTS:
In the last two years, Sharm el Sheikh and Hurghada have had a booming economy. Property prices have been increasing by almost 30% per year in off plan projects, making your investments valuable and stable one for the future.
AFFORDABLE HOMES UNDER THE SUN:
With Red Sea getting more popular by the day, people are coming from all over the world to see it. This influx of tourists have created a booming market for holiday home buyers which in return have pushed the competition amongst the property developers. You can find some of the best deals here on residential homes with some of them starting as low as 43700 GBP in a 4 star resort.
"HAND OVER TO MANAGEMENT" OPTION:
Egypt Prime Location offers an option to hand over your property to the resort management. If you don't use your property all year around, the resort management can handle rental for the time you're not here, resulting in immediate cash back on your investment. Expected rental revenue per year is around 10 %
SAFE ECONOMY AND BANKING SYSTEMS:
Egypt's economical safeguard is a benefit for investors as in Egypt:
Egyptian Banks do not issue credit cards, only debit cards (which means the money already exist in account to spend from).
No mortgages on properties (newly introduced in 2008, but with a lot of approved and studied safe gaurds and regulations).
The lack of availabilty of credit has ensured that Egypt has not been affected by the world wide credit crunch and the banking economy is still strong, safe and secure. Bank interest rates offered varies between 6 to 8% per year tax free and all Egyptian operating Banks are covered 100% by the central bank of Egypt, which is the one of the main reasons why investors are moving their finances to buy properties and open bank accounts in Egypt over the past 12 months since the credit crunch began.
Flights directly to Sharm elsheikh and Hurghada from the UK