Sunrise at Sharm El Sheikh
International property investment has been around for a long time, but with the decline in the Spanish and Dubai marketplace, where would the canny investor look at purchasing?
Egypt and Morocco are both becoming property investment hot spots, because they are both all year round destinations, property is relatively cheap compared to Spain and the capital growth and rental yields in both countries are very good. Both have existing tourism markets, and both are exotic locations and with Morocco only 3 hours flying time away and Egypt 5 hours, away.
Sunrise Heights is a great new location in Sharm El Sheikh, on the Red Sea Coast and normally a property agent would sell just a few properties a month. However Quest 2 Invest have managed to sell the whole resort in one go, 44 apartments to Scottish based investment fund company for an estimated €2.3 million.
Gerry Jones MD of Q2i says” I am not surprised an investment fund bought this outright, investing in international property is all about purchasing at a very early stage to maximise your investment. Sunrise Heights is pre launch, 1 st phase and in a great location in Sharm el Sheikh which already has a massive tourism market. This means that investors can expect high capital returns along with good rental returns. The good news is that whilst the investment fund have bought this resort wholesale, we are now selling the apartments to the general public with prices starting from £35,000.
Photo:
http://www.prlog.org/
