Has anyone tried their luck in Egypt or considered investing in there?

Prices seem ridiculously low, its only 5 hours direct flight from UK, it has beautiful beaches and scenery, worldclass diving in the Red sea, and year round sunshine.

In hirghada you can get a 2-bed apartment at about 750 square foot,100 metres or so from the beach for about £20,000

Cant see prices going any lower than they are

any thoughts on investing here/pros and cons?

You can find 10K apts. in Hurghada. the problem is: what to do with them? I could retire tommorow, Egypt could be a nice retirement spot. But as Buy to rent is quite bad.

There is a 5 Pound/ Person fee to use the private beaches in HUrghada and the public beaches are overcrowded and smelly.

Do not get fouled by the cheap prices, there is a good reason fro that.

Really thats interesting.
Thanks for the info catara didnt know about such a high charge for the beaches.

Is it new builds you can get for £10,000?

Ive been doing some research and it seems like a pretty popular tourist destination and visitors are rising every year.
Never been myself but a few mates have been in hurghada and surrounding area and say its beautiful.

Im not really looking at it as a buy to rent. More like a dirt cheap holiday home that i can get to wth the missus in under 5 hours during the winter to enjoy the scuba diving and golfing.

Surely its worth a punt at that price and hopefully in 5 years that apartment that i can rent to family friends will be worth around £50k / £60k?

any idea why the prices are so cheap in Egypt at present? whats around it regarding infrastructure, clubs, pubs,shops,restaurants?

any help appreciated
thanks

I've done the Nile Cruise and the Pyramids, a fantastic holiday.............honest.

Of course I was unaware of the politics then................The reality is, Egypt is funded second only to Israel by the USA, and is hence run as a Police State. The people are oppressed for the benefit of the US/ Israeli domination of the Middle East. I would not like to be there or have assets there if the lid ever blows off that particular pressure cooker.


Egypts ills Offer No Easy Fix

Hmm good shout but to me just a bot of political instability that can be found anywhere

Think of the recent bombings in London

the trouble in northern ireland...(and the prices in Belfast now)

Just seems like a good shout at a cheap price. If it does get blown up then ive only lost £20k

Not if your standing in it at the time.

Idiot.

WOw, 20K is peanuts for you??

Can I get a share of your peanuts money?

Biglog take a chill pill my friend
No need to resort to childish name calling.

"Ooooh careful not to travel on the london underground cos if you do and a big bomg goes boom you will be blown to smithereens" How old are you 5?

Rondy sorry that didnt come across right. £20k is a load of money in anyones books. It was a stupid example anyway but just mean its a dirt cheap property, not something thats cost half a mill. Anyway the likelihood of it is miniscule and if it did occur im sure there is insurance in place.

So what do we have so far against egypt in temr sof negaitves regarding investing there? Bomb threat?
Not sure thats enough of a shout

any thoughts welcome

Main reasons against Egypt:

- bad building in cheap properties.
- not so cheap better properties
- possibility to rent for £100/week
- cost of holidays = (almost) cost of airplane so not incentive to go self catering

If you use your apt./house for more than 3 month/year, then Egypt is good. If you use for 2 weeks and hope for rental, then Egypt is bad.

I have also heard good things about hurghada..

prices are cheap in egypt in general. I have quite a few friends who live in 4 bed houses in cairo.. for less than 15k.

These prices are so cheap because they are not for the general public, near any major cities or large population of people.

the prices will only go up if rich holiday makers decide to go diving and they think the place is beautiful.

One thing many estate agents do not let people know is the type of people who like to come to egypt.

wealthy saudis, yemenis ectr and even middle class have made egypt a holiday spot. Mainly for the men to see some belly dancers and have a drink or two while the wife and kids stay at home and go swimming in a private pool or beach residence.

Of course egypt is also famous in the western world as well. For the pyramids ectr..

In my opinion I almost think these prices are overpriced compared to actual residential prices in egypt.

However, hurghada could have some potential it just takes some common sense.