The sharp rise in the foreign exchange rate has closed some low-cost overseas property markets to foreign buyers. For example, the demand for Bulgarian real estate has dropped significantly. At the same time, Egypt is still a country where it is very profitable to buy real estate. Let’s do a simple price comparison.
To give an example, let’s consider the main advantage of real estate in Egypt — it is, of course, vacation homes. Therefore, it is better to compare not with a city apartment, but with a country house. First, let’s examine the options that are offered in popular European countries. We will deliberately not consider luxury housing offers, focusing on inexpensive offers.
— An inexpensive apartment on the sea in Bulgaria will cost about 60,000 euros;
— Similar cheap apartments in Montenegro will cost 60-70,000 euros;
— Spanish housing is already more expensive — about 100,000 euros.
At the same time, apartments in a resort in Egypt can be easily found for 10-20,000. But not euros, but dollars, and this is still about 10% of the price difference. Swimming pool, proximity to the sea, and often additional services on site — all this will be a nice addition to the low price.
Now, purely for contrast, let’s see how things are with real estate in the suburbs of large cities. To some extent, this property is considered a resort in many countries.
— The simplest house in the suburbs of Prague, where you can live and relax, is today about $ 250,000. Let’s clarify that we are not talking about four walls with minimal decoration and no furniture. This is exactly the real estate in which you can afford not to work, but to rest;
— In the suburbs of any major Italian city, this price can be safely multiplied by two. That is, we will already receive 500,000 dollars, or even euros.
In the context of such prices, the purchase of a real estate in Egypt remains one of the most profitable options for the transaction today for those who would like to become the owner of a property in the resort.
For any questions regarding the PURCHASE and selection of real estate in Hurghada, you can always consult with our specialists who have the latest information and will help you make the right choice
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