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At the moment the real estate
business is exploding in Egypt. New projects are popping up like mushrooms
everywhere. Some people call Egypt "The New Spain" and the truth is that you can
make a pretty good deal if you're looking to invest plus that you have a nice
holiday-home while you're waiting for your investment to grow. You can find a
villa close to the beach that'll cost you a arm and a leg or you can chose a
flat a bit of the beaten track that'll be yours for maybe only the arm.
I know people who has bought
property in Hurghada and sold within a year, doubling their money. However, with
the speed new projects shoots to the sky everywhere I wonder how long it will
take before this bubble bursts...
I don't know much about real estate business but luckily I've got a mate who
happens to have a black belt. His name is Richard and you find a presentation of
him below.
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This property project (left), called
the view, probably because of the location, is nearly finished. As far as
I understand all the flats (from studios to 3 bedroom apartments) were all
sold before the shovel was in the ground... But of course some of them are
on the market already...
On the other side of the road
(right) this construction site, on the beach, seems to take longer time to
get ready. I can't even remember any progress since I came here in 1999 but
hey... Who's in any hurry... Maybe it's just waiting for some one to buy and
finish the project...
ALREADY FINISHED
The detached option: There are
several "villages" in the area. Nice and quiet, gives more privacy and the
chance to prove your gardening skills. Many of those villas are located
next to the beach but does still have a swimming pool...
FUTURE PROJECTS
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This project called Water House, is still on the drawing board. Very
modern and arty.
If you want to have
everything exactly as back in Europe but warmer, this might be the
option. |
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