Why Are The British Purchasing Property In Hurghada?

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Distance is a factor.

From the mid 2,000's onwards, British people started to look elsewhere for holidays which could offer them better value for money with guaranteed sunshine, yet not considered long haul.

Hurghada is referred to as mid-haul within the Airline industry being only about a six hour flight from the UK and most of Southern Europe.

The shorter flying time compared to some long haul destinations is a major factor in why many Europeans choose to come here, with an airport very close to all major districts in Hurghada, it means a short transfer time between the airport to hotels and residences. Another great reason to consider purchasing property in Hurghada.

Climate

The climate is another reason why people are choosing to purchase properties in Hurghada with an all year around sunny climate and temperatures even in winter rarely dropping below 15c (at night), it seems a natural choice for holidaymakers and long term residents alike.

Even in the hottest month of July when temperatures can reach as high as 45-50degrees, the breeze off the beautiful Red Sea is a welcome factor.

What to do

The choice of activities is plentiful in Hurghada as it is geared up for tourists of all tastes. Along with the tourists, it attracts long term visitors which helps the Real Estate market in selling more properties in Hurghada.

Whether you are more interested in sun, sea and relaxation and wish to spend time on one of the many soft clean white sandy beaches, or adventures such as diving or snorkeling in the wonderful coral reefs of the Red Sea, desert adventures such as camel safaris , quad biking and sand surfing.

The choices are endless. More reason to be here and consider buying that fabulous property in Hurghada.

Along with this are several main areas such as Sheraton Road district of Sakala and the lovely Promenade at Mamsha where there is unlimited shopping, dining, coffee shops, night life and more.

There is also a central Port and Marina where many tourists and locals alike spend time walking, relaxing and getting together over dinner or coffee in the many outlets offering a wide range of cuisines at very affordable prices. Therefore wherever you choose to buy your property in Hurghada, you are very close to all major attractions.

Post Revolution

Since the fall of President Hosni Mubarak in 2011, and the continuing unsettled situation that resulted in the expelling of President Mohamed Morsi, it is fair to say that many foreigners were reluctant to travel to Hurghada and several European countries cancelled flights.

However, the unrest has not touched the Red Sea resorts and flights to and from Europe have resumed as normal. British and Europeans are still purchasing properties in Hurghada.

The current situation (March 2014) in Egypt is far more settled with new elections pending and Egyptians very focused on improving their country and economy. The Government is continually looking to improve the purchasing of foreign investment in purchasing properties in Hurghada.

Real Estate

Since the crash of the Spanish Real Estate market back in the 1990's, many British have been looking elsewhere to invest their money overseas.

The Spanish situation was problematic due to unscrupulous landlords and councils not being upfront and honest about land rights and purchasing laws and regulations. Therefore, many British lost properties and money invested due to reclaimed land.

Elsewhere in Europe, other countries had also increased prices on property purchases due to the introduction of the Euro currency whereas in comparison, prices on properties in Hurghada are extremely competitive.

In Hurghada (and all of Egypt), the currency is still their own, known as the Egyptian Pound. It is a fact that countries still operating within their own currencies are better value for money, both on holiday spending and purchasing properties.

How easy is it to purchase Property in Hurghada?

The good news is, that the procedures here regarding purchasing property Hurghada are very simple. The Government is encouraging many foreigners to invest here, therefore it is in their best interest to make it simple, quick, and honest.

It is essential to appoint a good Egyptian lawyer to handle all the details from the Egyptian side as a British (European) Lawyer cannot do all the paperwork from abroad.

Land rights here are much more definite and secure, with rights to freehold property fully granted to the buyer on full payment of property in Hurghada.

Buyers are often required to pay a deposit on a purchase, which when considering the very reasonable prices on properties in Hurghada, is minimal.

Your broker or owner will give you all the information on paper as to the re-payment plan. Cash payments are the norm here, however this is to your benefit as it usually means a discount on the price.

This is all good news when considering that all important purchase on property in Hurghada.

What types of properties in Hurghada are available?

Depending on the buyer's requirements, there is generally something to suit everyone when purchasing property in Hurghada.

The British tend to have different tastes and needs when buying property in Hurghada which can depend on several factors:

• Age
• Couples or families
• Budget
• Location
• Type of residence
• Time of year
• Purpose of purchase

In terms of age, there are many retirees choose to purchase property in Hurghada, using their retirement funds and tend to live here on a retirement long term basis.

Often couples will purchase property in Hurghada with an idea of ​​having it as a holiday home where they can come and go throughout the year and often inviting family and friends to use it when they are not there themselves.

Another big pull for buyers when purchasing property in Hurghada, is the 'buy to rent' system where they can retain a good income through renting their properties out.

Budget is another important factor when purchasing property in Hurghada.

However, at such good value for money on property prices, even on a smaller budget it's affordable. It is possible to buy a 2 bedroom property here in Hurghada, for a third of what you would pay in the UK!

Location is another decider when purchasing property in Hurghada depending on the buyer's requirements. For example, a retired couple may wish to buy in a quieter district yet still within easy reach of all amenities and attractions.

A younger couple or family may choose to live in a more lively district with all attractions and amenities within walking distance.

As Hurghada is an all year around destination, people often purchase property in Hurghada to stay here on a long term basis, while others choose to stay through summer and maybe rent their properties through the winter season which still has potential and another logical reason when purchasing property in Hurghada.

Many British come here for a stay of several months before returning home.

The better option is to consider purchasing a property in Hurghada as in the long term, it is more practical than renting and not getting any return on your money.

British in general, like to be around other British when abroad.

Therefore it is good to know that Hurghada has a large community of ex-patriots who have purchased properties in Hurghada and have created their own community including get togethers, magazines, British cuisine etc.

When choosing properties in Hurghada as a purchase, there are many choices.

The following is a short summary of what is available through Real Estate here in Hurghada:

• Studio apartments – usually furnished but available as unfurnished. These can be in either an apartment block or in private complexes and compounds. Some are unfinished and in off-plan residence.

• 1-4 bedroom apartments. The same options as the studio apartments with also British compounds available.

• Villas – can be a whole villa option, half villa consisting of 1 floor either ground or 1st, or even apartments available in villas, furnished or unfurnished. Also having pool facilities either shared or owned.

• Beach or / and town residencies, apartments and villas

Getting around Hurghada

Whilst there are many districts in Hurghada, close proximity between areas and attractions is small so most areas are reachable by foot or short distances by car.

This is another added bonus when purchasing property in hurghada.

As there is a large foreign contingency living in Hurghada, there are many brands catering for Europeans and British alike. Therefore, local supermarkets often have products to suit everyone.

The Senzo shopping mall has a huge supermarket which is reachable by shuttle bus and has many facilities there for retail and food outlets also.

Main areas of Hurghada populated with British residents are El Kawther, Mamsha, Intercontinental, Mubarak 6 and Mubarak7.

These districts are the home to several British compounds and complexes, along with private villas.

English is the 2nd language here in Egypt and as Hurghada is a tourist resort, it is par for the course when speaking with the local Egyptians therefore being another reason why British visitors come back and purchase property in Hurghada.



Source by Tracey Lea Grant

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