Quote:
Originally Posted by Chico Red
I am down for a 1 bed. Am hoping to move out there after April. I currently actually work for Experience International in Bulgaria, but having flipped apartments here and Romania, I am pretty confident that frontline in Egypt is the way forward!  |
Hi Chico, and welcome.
I was originally number 23 and 24 on the list for two 1 bed apartments, but taking into account the recent economic turmoil (and working in the Investment Banking industry, it really looks bad) decided to be prudent and opted for only one, 1 bed at number 23. As I am now only purchasing the 1 x 1 bed I'm hoping to purchase the largest one bed's available on the development. I believe that is approximately 60m2, not a bad size for a one bed. In my opinion you just can't go wrong with a beach front apartment.
Hopefully the Gulf state realestate should outperform Europe and the US, taking into account that the Gulf states are oil rich (oil prices at record levels) hence cash rich. This should result in areas like Dubai, Kuwait investing heavily in areas like Egypt and Morocco where realestae prices are still very cheap when compared to the the region and the rest of the world.
As long as you have a long term investment strategy, there is good money to be made in Hurghada.
Regards
REDS