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Top 10 Facts about Real Estate in Hurghada 2024

Hurghada is a city on the Red Sea coast of Egypt that has become a popular destination for tourists and investors alike. With its beautiful beaches, coral reefs, and sunny climate, Hurghada offers a unique lifestyle and a lucrative real estate market. But what facts must you know before investing in real estate in Hurghada in 2024? Here are the top 10 facts to help you make an informed decision.

Hurghada

1. Hurghada is one of the fastest-growing cities in Egypt

Hurghada has experienced rapid growth in the past few decades, transforming from a small fishing village to a bustling metropolis. According to the latest census, Hurghada has over 250,000 people, making it the second-largest city in the Red Sea Governorate after Qena. Hurghada is also one of the most visited cities in Egypt, attracting over 3 million tourists annually.

2. Hurghada has a diverse and dynamic real estate market

Hurghada has many properties to suit different tastes, budgets, and needs. Whether you are looking for a beachfront villa, a luxury resort, a cozy apartment, or a commercial space, you can find it in Hurghada. The real estate market in Hurghada is also dynamic, with new developments and projects constantly emerging. Some of the most notable projects include the New Marina, the Golden Mile, and the Sahl Hasheesh.

3. Hurghada offers affordable and profitable real estate opportunities

One of the main advantages of investing in real estate in Hurghada is the affordability and profitability of the properties. Compared to other destinations in the region, such as Dubai, Turkey, or Greece, Hurghada offers lower prices and higher returns. The average price of a property in Hurghada is around $50,000, while the average rental yield is around 10%. Moreover, the Egyptian pound has depreciated significantly in recent years, making it more favorable for foreign investors. 56

4. Hurghada has a favorable investment climate and legal framework

Another benefit of investing in real estate in Hurghada is the city’s favorable investment climate and legal framework. The Egyptian government has implemented several reforms and incentives to attract foreign investors, such as tax exemptions, free zones, and simplified procedures. The legal framework for real estate in Hurghada is also clear and transparent, with various options for ownership, such as freehold, leasehold, and usufruct. Foreign investors can also benefit from the protection of bilateral agreements and international arbitration.

5. Hurghada has a strategic location and excellent connectivity

Hurghada has a strategic location on the Red Sea coast, making it easily accessible from various destinations. Hurghada International Airport is the second-busiest airport in Egypt, serving over 7 million passengers annually. The airport connects Hurghada with major cities in Europe, Asia, and Africa, as well as domestic destinations. Hurghada is also connected by road and sea with other cities in Egypt, such as Cairo, Luxor, and Sharm El Sheikh.

6. Hurghada has a rich and diverse culture and lifestyle

Hurghada has a rich and diverse culture and lifestyle that appeals to many visitors and residents. Hurghada has a mix of influences from different civilizations, such as the ancient Egyptians, the Romans, the Arabs, and the Ottomans. Hurghada has a vibrant and modern atmosphere, with various entertainment options, such as restaurants, cafes, bars, clubs, cinemas, and malls. Hurghada hosts many cultural and artistic events, such as festivals, concerts, and exhibitions.

7. Hurghada has a stunning natural environment and a range of activities

Hurghada has a stunning natural environment and a range of activities, making it an ideal destination for nature lovers and adventure seekers. Hurghada has some of the best beaches and coral reefs in the world, offering swimming, snorkeling, diving, and sailing opportunities. Hurghada also has a beautiful desert landscape, offering hiking, biking, camping, and safari opportunities. Hurghada has several attractions and landmarks, such as the Hurghada Grand Aquarium, the Sand City, and the Giftun Islands.

8. Hurghada has a stable and secure environment and a friendly community

Hurghada has a stable and secure environment and a friendly community, making it a safe and comfortable place to live and invest. Hurghada has a low crime rate and a high level of security, with a strong police presence and surveillance systems. Hurghada also has a friendly and hospitable community with a large and diverse expat population. Hurghada has a tolerant and respectful culture, with freedom of religion and expression. [12]

9. Hurghada has a high-quality and accessible infrastructure and services

Hurghada has a high-quality and accessible infrastructure and services, making it a convenient and efficient place to live and invest. Hurghada has a reliable and affordable public transportation system, including buses, taxis, and minibusses. Hurghada also has a well-developed, modern network of roads, bridges, and tunnels. Hurghada also has a high standard of health care, education, and utilities, with several hospitals, clinics, schools, universities, and power plants.

10. Hurghada has a promising and sustainable future and a potential for growth

Hurghada has a promising and sustainable future and growth potential, making it an attractive and rewarding place to live and invest. Hurghada has a vision and a strategy to become a leading and competitive destination in the region and the world, focusing on innovation, quality, and diversity. Hurghada is also committed and responsible for preserving and protecting its natural and cultural heritage, with a focus on environmental and social sustainability. Hurghada also has the resilience and the flexibility to adapt and overcome any challenges and opportunities that may arise in the future.


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