I bought a property (2 bed room apartment), in Raballa, 7 km from Hurghada on the Cornich road about 500 m from the Palm beach resort. I also bought an unfinished villa in Mubarak . Both these propwerties were bought in December 2006 and have shown a increase of 15% so far, judging by the selling prices of adjacent properties.
I am extremelyt please with both properties but was cheated a bit when i purchased the apartment (overcharged $10000.00 )