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Posted On: 25/07/2009
Hurghada Property a High Yielding Long-Term Investment
Hurghada is an upcoming tourist destination on the Red-Sea Riviera, which I recently highlighted on my overseas property blog.
I argued that the low cost of property in Hurghada, combined with its massively growing tourism sector makes it an investment that simply can't fail.But I did mention one problem: although Egypt's last two government's have really opened the country up to foreign investment inflows, the economic growth and growing wealth within the country have been poorly distributed. This is a problem, because without better wealth distribution we are relying foreign investors as an exit strategy, and we have all seen how unreliable that strategy can prove to be.
However, I have been thinking about it since then and I feel I may have over-played the problem, in that this is a far bigger problem if you make a Hurghada property investment with a view to short-term gains. But if you look upon Egypt as a country making the transition from third-world status to developed country over the next 10 years, then a property bought now for £10-15,000 will surely be worth £50,000 at the end of this transition -- and that could easily be called overly conservative.
Yes, that scenario is on an off-plan property, but when you make such a long-term (buy-to-hold) investment then the fact that the property is not completed is largely irrelevant, and provided you do the necessary due-diligence, including at least 2 trips to the country any additional risk is minimal -- remember off plan payments should be structured so that you pay more as the risk decreases.
Written by Liam BaileyView Egypt property for saleView overseas property for sale
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