365 Days Of Sunshine Comes Free With A Property In Egypt

March 11, 2009 - PRLog -- An exclusive gated, poolside development less than 150 meters from the beach. This project offers Studio apartments and 1 and 2 bed apartments, 2 private pools and gardens, for less than the price of a new car! The price of a 1 Bed in the project next door is already 31% higher, clearly demonstrating value for money and capital growth potential! This is why we are continuing our focus on Hurghada in Egypt, as an area that we believe offers massive capital growth potential over the next few years, due to its increasing emergence on both the tourism and overseas property markets.

Hurghada itself was a small fishing village until a few years ago. It has now risen to one of the most popular resorts in the Red Sea Coast famous for its crystal clear waters, first class resorts hotels and restaurants, and long sandy beaches. Boasting a new promenade and new marina that opened in June 2008, Hurghada has attracted such brands as Hilton, and Marriot and the Ministry of Sound beach bar chain. A Mecca for divers from around the world Hurghada has many aqua centres offering sailing, snorkelling and windsurfing as well as diving. As a 365 day a year resort boasting sunshine whatever the season, it is easy to see why Hurghada has grown in popularity so quickly over the last few years.

At these prices, the apartments are not expected to be on the market for long, so you will need to act fast.

Key Facts and Reasons to Invest

Studio from £13,023
1 Bed from £16,688
2 Bed from £24,372

Payment Terms: Based on Studio at £13,023 including finishing

£1,000 Reservation fee
£5,209 Initial Deposit 40%
£3,256 After 3 Months 25%
£3,256 After 6 Months 25%
£1,302 On Completion 10% (End 2009)

- Egypt has steady year on year Capital Growth of 20-30%
- Egypt's Rental Yields are around 8%
- No Capital Gains Tax
- British Residents avoid inheritance tax on any Egyptian Property
- Easy air access from many European destinations just 15 mins from project
- Steady Annual growth in Tourist figures
- Egypt has strong economic growth and increased infrastructure investment
- 40% of land dedicated to open spaces and swimming pools
- A quality developer with solid track record

Why Egypt?

Egypt was recently awarded the title of “World’s top reformer” by Doing Business 2008, an annual World Bank/IFC report and since July 2004, the government has been carrying out a radical and ambitious economic reform programme under the slogan “Egypt: Open for Business”.

Foreign direct investment is at record levels, increasing from $3.9 billion in 2004/05 to $11.1 billion in 2006/07. Investment is increasingly diversified, with the petroleum sector now accounting for 28% of FDI compared with 66% in 2004.

One of the resulting outcomes of these increased investments into Egypt is the rising levels of Gross Domestic Product (GDP) which grew by 4.5% in 2004/05 rising to 7.1% in 2007, driven by increased private consumption, exports and investment. This raises the wealth levels of the population, particularly those in the major cities such as Hurghada where a good proportion of investment is occurring.
Already some of the largest Dubai based developers have turned their attentions to Hurghada, with DAMAC building a 32 million square feet resort with investment in the project expected to reach 16 Billion US$

Based on this we have identified, sourced and carried out due diligence on the Diamond development which we feel meets the criteria for buying into for holiday or investment purposes.

For more information on this & other overseas property investment opportunities please visit http://www.fareps.com.

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About Fareps Property Investment

FAREPS mission is to provide innovative overseas property investment opportunities for individual investors and their advisors by offering only the most exciting projects.