Published: 9th September 2013
Scattered along the picturesque shores of the Red Sea, the resorts of Sharm El Sheikh, Hurghada, El Gouna and Marsa Alam are now amongst the most popular tourist destinations for the large European travel market.
Every year, large numbers of visitors are attracted to the region by the superb beaches, world class scuba diving and international cuisine. These attractions, coupled with the relatively cost of travelling to Egypt (especially in relation to the Euro), have meant that Egypt is set to be the destination of choice for people looking for a summer vacation in 2009.
The dramatic increase in visitor levels to the region over the past two years, coupled with the relatively low price of property in the region has meant that property in the Red Sea resorts has become increasingly desirable in recent times, as investors seek to capitalise on the increasing investment opportunities available throughout the region.
The Red Sea resorts cover a large area of western Egypt, ranging from Marsa Alam in the far south, up to the hugely popular resort of Sharm El Sheikh on the southern tip of the Sinai Peninsula. Relatively undeveloped, the entire region offers huge scope for future development, as the resorts gradually expand along the large stretches of available coastline. It would be fair to say that it is this scope for future growth in the Red Sea which is really proving attractive to investors and property developers alike, who are beginning to look at Red Sea property as a long term investment opportunity.
Alongside the relatively low cost of property in Egypt, and the increasing levels of tourism into the country, other factors have also combined to develop the investment opportunities available. In particular, the Egyptian government has adopted a pro-foreign investment stance in recent years, which has undoubtedly paid dividends as large numbers of investors seek to capitalise on the pro-investment environment being created in Egypt. This, coupled with the increasing accessibility through the increased number of cheap flights to the region has meant a large increase in investor interest on a scale not previous seen in Egypt.