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Why invest in the property in Sharm El Sheikh?
Sharm El Sheikh has a collection of the best holiday resorts and real estate opportunities in the Red Sea area. Not to mention it is a haven for divers and snorkelers alike, Sharms’ underwater protectorates are among the best in the world making it an underwater paradise. There are also two golf courses to enjoy and you are never far away from the many fantastic beaches it has to offer.
Sharm El Sheikh and the red sea Riviera have an all-year-round excellent climate with hot dry weather, low humidity, sunshine, and average Winter temperatures of 24 degrees centigrade making the region a favorable destination for Europeans.
Low cost of living
Living in Sharm El Sheikh is cheap and affordable compared to most major European cities. Exchange rates are high against the Egyptian pound making it the perfect place to have a second home under the sun. For example, gasoline is only about ?? pence per liter in Egypt.
High return on investments
In the last two years, Sharm El Sheikh has had a booming economy and has seen property prices increase in off-plan projects in Nabq, making your investments both valuable and stable for the future.
Affordable homes under the sun
With Sharm El Sheikh getting more popular by the day, people are coming from all over the world to see it. This influx of tourists has created a booming market for holiday home buyers which in return has pushed the competition amongst the property developers. You can find some of the best deals here on residential homes with some of them starting as low as 21000 GBP in a 4-star resort.
Hand over to management option
Sharm El Sheikh Properties offers an option to hand over your property to the resort management. If you don’t use your property all year round, the resort management can handle rental for the time you’re not here, resulting in immediate cash back on your investment. Sharm El Sheikh proprieties’ professional letting department can also rent and manage your property. Expected rental revenue per year is around 10 %
Safe economy and banking systems
Egypt’s economical safeguard is a benefit for investors as in Egypt:
Egyptian Banks do not issue credit cards, only debit cards (which means the money already exists in the account to spend from).
No mortgages on properties (newly introduced in 2008, but with a lot of approved and studied safeguards and regulations).
The lack of availability of credit has ensured that Egypt has not been affected by the worldwide credit crunch and the banking economy is still strong, safe, and secure. Bank interest rates offered varies between 6 to 8% per year tax-free and all Egyptian operating Banks are covered 100% by the central bank of Egypt, which is one of the main reasons why investors are moving their finances to buy properties and open bank accounts in Egypt over the past 12 months since the credit crunch began.