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Buying in Egypt - Hurghada or Namq Bay in Sharm?

Discussion in 'Egypt property' started by olivia, Sep 17, 2007.

  1. olivia

    olivia New Member

    Hi All,

    Am new to this forum, but reading the threads, most people seem to talk of investing around Hurghada. Could anyone advise which area is a better investment option currently: Hurghada, or Namq Bay in Sharm? As many opinions as possible would help me, as I will be in Egypt throughout October with the aim of buying something somewhere!
     
  2. RedSeaVision.com

    RedSeaVision.com New Member

    I think the main reason people are picking Hurghada over Sharm, is that with Hurghada you are buying a 100% freehold property vs. Sharm where your buying a 99 year lease. I was originally going to buy in Sharm. After doing a lot of research I found that Hurghada just seems to be a better investment. It is bigger, more things to do, more family friendly, and is closer to all the ancient monuments. It also seems to be safer, and as of now, there has never been a terrorist attack in Hurghada.
     
  3. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    Hi Olivia I agree with Glen's comments 100%; I have invested in five properties in Sahl Hasheesh near to Hurghada and will be delighted to give you any help you need.
     
    Last edited by a moderator: Apr 4, 2008
  4. olivia

    olivia New Member

    Thanks for that advice. In real terms, what are the disadvantages of a 99 year leasehold over a freehold?
     
  5. delboy

    delboy New Member

    hi olivia. your thinking is like mine. hurghada is however a lot cheaper to live and work in. i have many properties in hurghada and luxor and am satisfied with them, sharm is cut off from the main land and ferry times make it difficult to have connections to mainland egypt
     
  6. olivia

    olivia New Member

    Thanks for that advice. Are there any property leads you can pass on to me for Hurghada?
     
  7. awahee123

    awahee123 Banned

    I think as well as the lease/freehold issue I feel hurghada wud be a bit safer away from the bordering countries of sharm just my thoughts,and im a muslim so there you go.I havent been to sharm looks good but im more than happy with hurghada.
     
  8. propertywatch1

    propertywatch1 <b>Official Photographer</b>

    Hi Olivia
    We bought in Hurghada rather than Sharm ....the main reason being we relocated here from the UK and here in Hurghada there is an infrastructure to actually live here.The prices here are far cheaper than Sharm.We were buying in Nabq till we looked at Hurghada and im glad we did.
    The price increase on the property we were looking at in Nabq has increased by £2000 in 18 months....one of my properties has increased by £25,000 in 12 months here..because we bought unfinished and finished ourselves to a high UK standard.
     
  9. hello

    Hi Olivia & Dell Boy
    I'm based in hurghada and I recommend hurghada at least you own the property not lease hold for 99 years
    Regards
    George
     
    Last edited by a moderator: Apr 19, 2008
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