Sharm El Sheikh
Renowned for world famous diving, Sharm El Sheikh is the most
popular tourist holiday spot in Egypt, drawing in the younger end
of the tourist scale with its reputation as a fun resort with a
lively nightlife. The extraordinary waters of the Red Sea offer
some of the best diving in the world and are revered amid the
diving community. With its own international airport, Sharm El
Sheikh is easily accessible from major European capitals. With so
many developments situated in and around Sharm El Sheikh, there is
a wealth of property to choose from. Three bedroom apartments are
available from £120,000, and it is not unusual for the use of
central resort amenities to be included in the purchase price.
Hurghada
South-west of Sharm El Sheikh on the Red Sea Riviera is
Hurghada, once a small fishing village but now an up market tourist
destination that attracts a stream of Europeans and Americans, and
also visitors from other Arab states. Property ranges from cheaper
town-centre apartments, popular with divers on shoe-string budgets,
to wealthier, luxurious 'tourist villages', such as El Gouna. El
Gouna is a purpose built, self-contained and self-sustainable
complex built on 10 kilometres of coastline, with 14 hotels, a
large marina, a mature golf course and a population of around
10,000. Villa prices on the new developments can range between
£170,000 and £600,000.
Cairo
The property market in Cairo is developing rapidly with a focus
on the luxury end of the market to cater for the increasingly
wealthy Egyptian classes and generate inward revenue. Despite
recent construction booms there is still a lack of high-end tourist
accommodation meaning the supply and demand relationship is a
healthy one. Satellite cities outside Cairo offer a cleaner,
healthier and often updated lifestyle with land prices starting
from around £200 per square metre.
Mediterranean Coast
Tipped as the Côte d'Azur of the future, the Mediterranean Coast
of Egypt is said to have an atmosphere that is more Mediterranean
than Middle Eastern, and offers the still, turquoise waters that
can be found gracing its European counterparts at a fraction of the
cost. Founded by Alexander the Great, Alexandria is bursting with
cultural history from its position as a centre point between
African, Middle Eastern, Greek and Roman empires. It is an area yet
to be developed by foreigners but expected to experience similar
levels of development to more popular areas of the country as more
people discover the charm of the Mediterranean Sea from the
Egyptian view. Now then, is a shrewd time to invest and take
advantage of lower prices before demand forces them up.
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