Interest from foreign residents in real estate in Hurghada has grown not so long ago. Nevertheless, analysts argue that the situation is already changing and in the next couple of years, one can expect a sharp increase in demand for both residential and commercial real estate in Hurghada.
Let’s try to consider the reasons why foreign buyers buy apartments in Hurghada:
— Low price level compared to other countries. The cost of one square meter of housing in Hurghada starts at $ 400. As an example, you will be able to buy a decent-sized villa on the shores of an Egyptian beach for a price that will not exceed the cost of the average apartment in your country;
— Favorable conditions for real estate construction. It is economically profitable for developers to build a complex in Hurghada due to the developed tourism in this country. And recently there are more and more tourists having a rest;
— Investment attractiveness. The tendency to build residential complexes in Hurghada that meet high European standards is growing every year. According to the experience of many European countries, with the growth of consumer demand, real estate prices always rise, as a result, buying real estate in Hurghada today can become a profitable investment, which in a few years will multiply several times.
The demand for rental apartments in this city is quite high, as a result of which you will be able to cover the cost of maintaining an apartment, and even win. With the right approach, you can recoup the cost of buying a home in just a few years. To do this, you need to invest a small amount of money and purchase residential property in a resort area with high traffic and consult with consultants who specialize in the local real estate market.
Further, we recommend that you decide on the purpose of the acquired housing: the object will be used for personal purposes for living or only for financial gain. If you have chosen the second goal for yourself, then you should carefully approach the search for a specialist. Do not forget about the condition of the apartment and the availability of all communications, since the rental value depends on this. It is necessary to provide a good repair, the availability of furniture and equipment (washing machine, kitchen appliances, and so on).
After choosing a profitable option, purchasing it and completing all the necessary documents, it is necessary to ensure that the apartment is constantly occupied by tenants. The most profitable and safe option is to enter into an agreement with a real estate agency that will provide your property with permanent residents.
For any questions regarding the PURCHASE and selection of real estate in Hurghada, you can always consult with our specialists who have up-to-date information and will help you make the right choice
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