Ancient world proves hit with modern investors
Egypt has long been a favourite destination with tourists, who come from across the globe to visit a country which boasts some of the most fascinating archeological wonders in the world. This unique location, which offers a twelve month season, is also attracting the attention of property investors.
"Egypt is poised to become the most lucrative property investment location," explains Tony Beaumont, the sales and marketing director of Property Hotspots Worldwide - a UK development company with a global head office in Hurghada, Egypt and their European head office in Birmingham, UK.
"Factors such as the low cost of living, an easy entry level purchasing process, a stable and rapidly growing economic climate, the low investment costs and fantastic rental opportunities, all add to the overwhelming appeal of a destination which is just a five hour flight from the UK."
After carrying out extensive research into the global real estate industry, Property Hotspots Worldwide found their investigations delivered a compelling result.
"The opportunities for investors on Egypt's Red Sea Riviera, which is a relatively untapped market, are so outstanding that we decided not to develop or sell overseas properties in any other so-called 'hotspots' for at least five years," explains Mr. Beaumont.
"Hurghada is one of the main areas we homed in on because, not only is it a great base from which to explore Egypt's many sights, but it's also a place which has so much to offer, including idyllic conditions for diving and snorkeling, opportunities for quad biking in the desert, horse riding, playing golf and tennis, and much more."
Property Hotspots Worldwide have been permanently based on Egypt's Red Sea Riviera for the last two years, understanding the Egyptian market and developing a new standard in build and resort quality. Regency Towers, in Hurghada, is one of the company's incredible success stories.
"Regency Towers is the first resort on the coast to have been fully constructed and completely sold out in less than 18 months," says Mr. Beaumont. "Although this is a great achievement, we're not surprised by the uptake because we've always believed that the Red Sea Riviera is one of the finest locations for overseas property ownership and investment. World boxing champion Joe Calzaghe is one of the more well known owners in Regency Towers but it's just great to see all our investors sharing in this belief."
World boxing champion Joe Calzaghe
has invested in Regency Towers
The company's next project, Regency Beach, is a luxury resort midway between Hurghada and El Gouna ,which looks set to equal, if not surpass the success of the Regency Towers development.
"Investors will pay between £19,995 and £60,000 for a luxury property on Regency Beach during the pre-launch period. Savvy investors taking advantage of these prices will realise 10% to 12% on their original investment by the 1st phase launch in January 2008," explains Mr. Beaumont.
"As any investor who has researched other areas around the Middle East will know, these prices are only a fraction of what you would pay elsewhere. However, all the same benefits still apply, for example: 30% capital growth, based on the last five years; and future rental programs, which will offer owners a regular income."
Anyone looking to invest in Regency Beach will be interested to know that the payment scheme involves a £1,000 reservation fee; a deposit of 35% (less £1,000, payable within 21 days of the reservation fee); a first installment of 20% (due six months after the deposit); a second installment of 20% (due six months after the first installment); and a final installment of 25% upon completion.
"Regency Beach is gaining considerable interest from investors because it offers the opportunity for lucrative financial returns," says Mr. Beaumont. "That's why anyone thinking of buying one of the luxury properties in this exclusive development must act quickly to avoid disappointment."
Property Hotspots Worldwide is a real estate specialist offering properties for sale on Egypt's Red Sea Riviera, direct from the developers.
Click here to view Property Hotspots Worldwide's properties for sale in Egypt
© PropertyIndex.com 2007 | Image of Joe Calzaghe © John Gichigi, Getty Images Sport | Last Updated: 13 November 2007