Hi
When we moved out here over a year ago it was always our intention to purchase 2 places here in Hurghada one to live in and one to rent to get some form of income. We have a 120 sq mtr 2 bed 2 balcony property with shared pool and glass lift in the touristic area. Having advertised it with a few english rental companies nobody has replied.
The only way we found was to rent the property to foreign people working here or a high earning egyptian on a long term basis. This is due to the cheap all inclusive deals and the lack of cheap air fare. In the summer season there is only friday charter flights that are direct from the uk,but in the winter season the add aditional tuesday flights as well.
So to rent out on a long term basis you can expect a return of around 2500 3000 le per month as most people here want to rent long term. Until we have cheap flights here ( like easyjet flights to morocco ) then we will struggle to rent out to holidaymakers.
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