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Posted On: 08/07/2009
Overseas property specialists Azure Overseas have announced a 20% discount on the remaining units in the Regency Continental development in Hurghada Egypt, making a 2 bedroom unit just £33,995 while stocks last. There are only a few units left, but the developer is keen for a quick sale so they can concentrate on rental management and future development plans, according to Azure director Frank Crowley, he said:
"This development is one of our best sellers, and it could easily have sold out without any kind of reduction on the price. However, Phase 1 of the development is complete, and with Phase 2 nearing completion in 2 months, the developer is keen for the last few remaining units to sell quickly so they can concentrate on rental management, resort expansion, marketing and future development plans.
"With prices now under £34k for a 2 bedroom apartment, which will rent for just under £337 per week, it can easily be seen that there is potential to earn exceptional rental yields from this opportunity: 10 weeks at £337 is £3,370, which is almost a 10% gross yield, and more than 10 weeks occupancy is likely."
Potential rental yields are always mentioned in off plan property Hurghada, but in this case "it is different because the property has one phase complete and the second almost complete," Frank said.
"The rental yields are not just a possibility or a forecast in this case. With Egypt's rising tourism and the first phase already in operation, the rental yields are a reality just waiting for investors to reap," added Frank.Regency Continental is an almost completed resort-style apartment development in the upcoming intercontinental district of Hurghada. "Interested parties should get it touch as soon as possible to avoid disappointment," concluded Frank.
About Azure OverseasAzure Overseas is a member of the National Association of Estate Agents (Overseas) and adheres to the highest standards of customer care and stringent market research/due-diligence.
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