With the increase in tourists to the Red Sea region, the real estate market in areas like Hurghada and Sahl Hasheesh are continuing to offer great returns for investors. Property in Egypt is providing a wealth of opportunity for those willing to invest and many are already seeing the rewards.
More than 12 million tourists are expected to visit Egypt by the end of 2012, a 23 percent rise on the previous year. The rise in tourists is good news for the country’s economy and has spread optimism across Egypt.
The news has caught the eyes of international investors, who are keen to take advantage of Egypt’s reasonably priced property sector before prices start to rise now the elections are over and business resumes back to normal.
People who visit Port Ghalib will experience lavish surroundings mixed in with the traditional Egyptian way of life and most visitors leave the resort wanting to return
The number of tourists visiting Egypt in April reached 1.4 million and hoteliers in the Red Sea resorts have reported high occupancy levels.
Egypt has enjoyed a tourism increase of 32 percent in the first quarter of 2012 showing signs that the country has bounced back from the revolution in 2011.
The positive news has followed another great report from The Telegraph newspaper, which has recently revealed Egypt is leading the global markets in 2012.
Egypt’s tourism sector welcomed its highest number of tourists in 2010 and the news that the same levels of tourists are returning in 2012 has pleased investors.
Egypt’s Red Sea resorts are a popular choice for divers to go on holiday as the Red Sea Riviera has the largest stretch of coastline and stunning underwater reefs.
The daily newspaper reported the country is great for guaranteed sunshine without a long flight and is perfect for young children. The news article also describes the flight to Hurghada International Airport as a “no-frills” airline route.
News agency The Daily News Egypt has reported the spotlight is back on Egypt’s real estate sector now that property prices are stabilising and developers are recovering from disruptions last year.
The Daily Telegraph reported last year that most buyers want to use their overseas property themselves as a holiday home, for inheritance purposes, or for retirement reasons.
The Egyptian Minister of Tourism Mounir Fakhry Abdel-Nour has announced tourists have brought in $9.5 billion in revenue this year and the festive season is expected to bring more tourists who want to celebrate Christmas and New Year in a warmer climate.
Property investors are pleased hotels are back to being full like they were before the revolution and are confident Egypt has a bright future.
Tourists are interested in seeing the effects of the revolution and tour companies are now incorporating the recent events into their schedules.
Italcementi Group is to introduce a new wind energy project in the Red Sea area and is expected to invest 140 million euros into the venture.
We have some amazing properties near some great diving locations and as such will be keeping DIVE Magazine and its readers upto date with all the latest property deals in the diving hotspots that we sell, such as…