Hurghada 'offers irresistible combination'

The Egyptian resort of Hurghada offers UK investors an ideal location in which to invest, it has been stated.

Nick Marr, the chief executive officer for overseas property portal Homesgofast, said of the resort: "Low prices and an area with its own airport make Hurghada an irresistible combination for UK investors."

Explaining that the town has developed from a small fishing village to a major resort with an extensive nightlife scene, he added: "Prices are still low enough to buy an off-plan studio for under GBP20,000."

The one word of caution he supplied was to check that any property being bought has been built by a reputable company, to ensure that construction quality has not been compromised.

Another reason tourist property in Egypt may be attractive is the expectation that there will be an expansion of the industry.

The World Travel and Tourism Council has projected that the tourism sector will grow by an average of 5.4 per cent per annum over the decade from 2007 to 2017, with the number of people employed in the industry increasing from 2.8 million to 3.6 million over the same period.
 

Like this? Then share with your friends and colleagues!