Acquisition of real estate in Hurghada is a choice towards a relaxing holiday on the shores of the most beautiful sea in the world, developed infrastructure, good schools for children, liquidity and opportunities to receive a stable rental income. Consider what are the key factors to be guided by when choosing housing in Hurghada.
Each place has its own characteristic subtleties of buying real estate, but there are general rules, the implementation of which will guarantee the correct choice of the object. If you have already decided on the desire to buy an apartment, then you should carefully evaluate the goals and as clearly as possible determine the direction for the purchase.
Real estate in Hurghada is suitable for those who are looking for both permanent and temporary residence in the country. Also, many «family» buyers are happy to purchase housing in Hurghada, in close proximity to the sea.
An important indicator that is decisive when choosing a property is its liquidity. It should be noted that within the same city, in neighboring districts, and, moreover, in neighboring streets, both very liquid and not at all liquid objects can be located. Therefore, when choosing a property that will serve more than one generation of your family, and if necessary, can be resold profitably, you should definitely contact a reliable real estate agency that clearly knows the local market.
The main question that the future owner should answer himself when choosing real estate in Hurghada is «for what purpose am I buying this house?» It is necessary to accurately assess your capabilities and prospects and compare the amount of your budget with the real market opportunities. Don’t go after very cheap housing: it won’t be liquid. And also for apartments of a very large area, if in the future you plan to sell or change the property for another. Sometimes it is better to buy a property with a smaller area, but located in a good area.
If the property is purchased exclusively for one’s own residence, then the area should be selected solely on the basis of amenities for the whole family. Convenient transport accessibility, including by public transport, proximity to shops, and, if necessary, schools, kindergartens and medical institutions are the key factors.
But the most important thing when choosing a «second home» is your own impressions of the area.
Another point worth paying attention to is the purchase of real estate under construction. In the event that the owner has nowhere to rush, he can save up to 25% of the cost by purchasing at the construction stage. In addition, developers often give interest-free installments for up to 8 years. Plus, such a deal will allow you to accurately choose the «configuration» of your future home.
Urban real estate is well rented. Depending on the specific location or area, the priority will be a daily or long-term rental.
If the buyer’s goal is to generate income from renting out their home, then who will need to manage the property and on what terms. It is possible to rent out housing for a long time, but the amount of profit on an annualized basis will be lower.
Before deciding to run this type of business, you should definitely ask yourself the question of whether there are enough resources to maintain everything at the proper level — or is it better to give the management of the property to a real estate agency or management company.
A few tips for property buyers in Hurghada
1. In advance, as clearly as possible assess your goals and financial capabilities in the long term.
2. Decide on the place of purchase, clarifying all the possible risks of your agent.
3. Choose only liquid properties that can be easily resold if necessary — at least for the same price that you purchased them.
4. Do not try to save a lot: cheap properties are illiquid
5. Be sure to talk to an agent. Which will tell you about the features of each area and about the property itself.
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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