Best area to invest

[Cleo]

Hi

I am thinking about investing in a property in Hurghada.

Do you have any tips on which is the best part of town to look at

Also any tip on what size of property for rental

many thanks

Cleo

[mushtaq]

Everyone is excited about El-Kawther (various versions of spellings) area, lot of new projects going on and close to sea and airport and resort, so location is good, rental potential is fair, capital appreciation is good for medium term.

The other hyped/talked about area is Sahl Hasheesh just south of Hurghada, this is a new enclosed resort, hugh and on the coast, a small city on its own, when it's finished in another 5 years in my estimation, prices here are higher then Hurghada, rental should be good when finished and capital appreciation good in the long term when the resort is finished.

A lot depends on your own expectations and how much you want to invest and for how long, and if you need to make a return straight away to pay mortgages etc.

[azizamasrya]

There are lots of growing areas in Hurghada. It depends, what You want
to invest.
Appartments will be needed all the time. Everybody is asking for seaview
or at least a swimming pool.
There is Intercontinental area, which is a quiet area only for living, reachable by city bus. (We built 3 objects there, one direct in the sea promenade).
The other growing area in el Kauwther is very crowded, one house close to the other. We built an object with swimming pool there.
But still the people are asking for Sakkala and Hadaba, there you can rent flats for sure, it will be a good investment.

[tomkit]

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 )

[cynic]

Ouch that is a lot to be over-charged.
Azizamasyra - what you say is correct. The houses/apartments may be close together but it is a quiet area and for an ex pat like me it is exactly what I am looking for. Do you have anythign to rent at not too ridiculous a price. Unfurnished.

[tomkit]

It seems like a lot, but it was only about 8% . Goodness! If i knew then what I know now! I don't want to advertise here Not sure if it's allowed . I am a new boy on the forum Contact me off forum if you like
My real name is Tony, I'm British. e mail toncarrut@gmail.com

[tomkit]

Just a thought for people on the Forum who have bought or are thinking ogf buying in Egypt. How about swapping some experiences of how your purchase went and give advice as to which deveopers or agents to avoid. In my experience an agent whom one should most definitely avoid is British Egyptian or Egyptian British in Hurghada and another agent in England Knight Knox
Tomkit

[RIK]

Hi Tony. Lots of Brits looking to buy in Egypt so any advice would be be welcome.Don't think I will will do so but Mushtaq the Forum administrator operates an Estates Agents Business in Egypt. Worth keeping in mind.

Ian

[Cleo]

Originally Posted by tomkit

Just a thought for people on the Forum who have bought or are thinking ogf buying in Egypt. How about swapping some experiences of how your purchase went and give advice as to which deveopers or agents to avoid. In my experience an agent whom one should most definitely avoid is British Egyptian or Egyptian British in Hurghada and another agent in England Knight Knox
Tomkit

good advice Tom

anyone that you would recommend?

Cleo