Sharm el Sheikh property buyers take advantage of low Egyptian Pound

by Charlotte Ashton Egypt

Where many might shy away, the most savvy property investors are looking towards Egypt in light of the recent crisis to purchase Sharm el Sheikh property. The record drop in value in the Egyptian Pound means that it has never been a better time to buy in successful tourist resorts either for a holiday home or buy to let investment.

Understandably, a novice property buyer might be wary of investing in a region that has experienced some political turmoil over the last few months, however experienced property investors in Sharm el Sheik property will know that construction has been unaffected as the protests were localised and so the resorts did not experience any of the looting or damage as in Cairo.
With 1 British Pound buying 9.74236 Egyptian Pounds as of 23rd March 2011, property investors can purchase a total of 224,074 Egyptian Pounds for £23,000. If we compare what the same amount would have bought at the beginning of 2011 when the rate was 1 GBP=8.96538 EGP, we notice a dramatic advantage to the overseas property investor as £23,000 would have purchased only 206,203 EGP. This means that investors who purchased in March rather than January 2011 have made an extra of 17,871 Egyptian Pounds!
As Steven Worboys, Managing Director of Experience International, the property investment specialists notes:
“The most long-sighted investors will turn events as have occurred in Egypt into an opportunity, there has never been a better time to invest in Sharm el Sheikh property due to the low Egyptian pound…They say a week is a long time in politics; it’s an even longer time in the world of investment property!”
Property agents have observed steady sales throughout February and an upward trend in March. Egyptian property prices have certainly not dropped and some developments are set to increase their prices as they finish the first phase of construction.
One of the most popular resorts is the Maraqia development in Sharm El Sheikh. Investors can purchase 1, 2 and 3 bedroom apartments spread over 40,000 m² with surrounding gardens and swimming pools. Set next to the mountains of Nabq and minutes away from 5* Hotels and facilities, this project is destined to be one of the most luxurious high class residential areas in the Sharm el Sheikh property range and prices start from only £39,170.
Another development that has attracted both international investors and those looking for a second holiday home is the Sunny Lakes development in Naama Bay in Sharm. The low density apartments offer spacious 1 bed apartments from 70 m2 and 2 bed apartments from 95m² all with swimming pool views. The option of management and rental services are also available making Sunny Lakes the ideal property purchase both for personal use and as a buy-to-let investment.
For more information on investing in Sharm el Sheik property in 2011 please contact the experts at Experience International on +44 (0) 207 321 5858 or visit www.experience-international.com.

Experience Egypt 2011 – Your Essential FREE guide to living and buying property in Egypt

by Charlotte Ashton Egypt

 

Egypt, the land of sun, sea and sand, is one of the most popular property markets in the world today. If you are thinking about buying property in Egypt’s popular tourist hotspot, the Red Sea coast, then the new Experience Egypt magazine is your essential guide.
The complimentary 70 page property and lifestyle magazine published by the Egyptian property experts at Experience International is packed with the latest market news, expert advice, location focuses, buying guides and a selection of the finest properties available for sale along the Red Sea coast. 
As Editor and MD of Experience International, Steven Worboys, comments,
“We have seen the Red Sea resorts in particular enjoying accelerated property market growth due to their popularity as holiday hotspots. Millions of Britons as well as Russians, Germans, Scandinavians, Middle Eastern and Asian nationals visit each year to soak up the sun, sea, sand and world-class diving on hand.
“Whilst many clients have visited Egypt on holiday there is still great demand for timely, accurate information on the thriving property market on the Red Sea coast and responding to this we have used our first-hand expert knowledge to produce the ultimate guide to buying property in Egypt – the complimentary Experience Egypt 2011 magazine.”
Available to download here Experience Egypt 2011 features:
*      Latest market news
*      Expert advice from A Place in the Sun & Daily Mail property writer, Gordon Miller
*      New location focuses
*      Real life property investment stories
*      Shaz Yaqoob’s 5 golden rules for buying property in Egypt
*      Best buys – the widest selection of properties to buy on the Red Sea coast
 
To download your complimentary Experience Egypt 2011 magazine visit http://www.experience-investments.co.uk/Egypt-Magazine.html or call +44 (0) 207 321 5858.

Brits swap 36 deg Fahrenheit for 36 deg Celcius as Egypt ranks Top Winter Sun Hotspot

by Charlotte Ashton Egypt

 

With the Met Office predicting snowfall and maximum temperatures of just 36˚Fahrenheit (2˚Celcius) by the end of the week, more and more Brits are looking to escape the cold snap and visit top winter sun hotspot- Egypt.
 
The mercury is rising fast in Egypt with temperatures of up to 36˚Celcius forecast for Sharm el Sheikh, the highly popular holiday resort located on the Sinai Peninsula. Airlines and tour operators are already seeing increasing numbers of Britons travelling to the north African nation, only 4 and a half hours by air, to soak up the sunshine and leave all the stresses of the Christmas run-up behind.
 
According to Egyptian Minister of Tourism, Zuheir Garana, an 18% increase in tourism to Egypt is expected with an impressive 14.5 million to visit by the end of 2010; a positive outlook which Steven Worboys, MD of the Egyptian property experts Experience International, supports,
 
“Egypt is certainly a destination to consider as the cold weather approaches. Ranked by The Guardian as one of the top 5 winter sun hotspots, it offers the perfect combination for individuals, couples and families alike with guaranteed sunshine, high temperatures, crystal clear waters along the Red Sea as well as a wide range of cultural and sporting activities to enjoy.” 
 
The country’s location outside of the troubled euro zone also makes Egypt highly appealing with American Express Global Foreign Exchange Services Currency Report reporting that the Egyptian pound was the 4th most popular currency sought between Jan – Sept 2010.
 
Situated on the Sinai Peninsula, the small fishing village of Sharm has developed to become one of the greatest attraction in Egypt for tourists from all over the world especially Britons who account for 1 million visitors annually. With its dramatic mountain landscape and wide variety of tourist attractions including warm deep-blue seas and world-class diving, excellent beaches, golf, quad biking in the desert, an equestrian centre, ice skating and a national park it’s not hard to see why Sharm is so popular.
 
And not only with holiday makers but those looking for a more permanent escape from the questionable British weather. The second home market in Sharm has boomed in recent years with properties in Naama Bay, the heart of Sharm, in very high demand.
 
Apartments in the aptly named Sunny Lakes development for example are selling quickly with investors keen to secure the limited number of luxury 2 bedroom apartments currently under construction from just £71.250. Completed to the highest European standard, the low density development is located just 15 minutes walk from the public beaches of Naama Bay and affords a wide range of superb on-site amenities including 9 swimming pools, shops, restaurants, cinema, supermarket, children’s playground and 24 security.
 

For more information about the winter sun hotspot of Egypt and Sunny Lakes contact the experts at Experience International on +44 (0) 207 321 5858 or visit www.experience-international.com.

El Gouna shines as Egyptian holiday hotspot

by Charlotte Ashton Egypt

 

Despite the global downturn, it seems that Egypt remains one of the most sought-after holiday destinations with a 13% increase in the number of British visitors according to the latest data from the ONS’s International Passenger Survey.
 
Comparing British passenger numbers to the same time last year, the UK Office for National Statistics revealed substantial growth in the number of all-inclusive holidays to Egypt booked by Britons.
 
The Red Sea resorts of Sharm el Sheikh and Hurghada remained popular but according to leading holiday rental site, HomeAway Holiday-Rentals, it is the area just north of Hurghada, El Gouna, which is shining as the Egyptian holiday hotspot with a 92% rise in booking enquiries so far in 2010 compared to the same period in 2009.
 
Steven Worboys, MD of Egypt property experts, Experience International, remarks,
 
“El Gouna is a beautiful, up and coming resort on the Red Sea coast offering an unrivalled lifestyle. With 10km of golden sandy beaches, islands, crystal clear lagoons and a warm year round climate, it really is the perfect holiday destination.”
 
El Gouna’s popularity as an exclusive tourism destination is reflected in the high demand for rental accommodation. According to HomeAway Holiday-Rentals data, the average weekly rate for a 2 bedroom property in El Gouna is £480, considerably higher than nearby Hurghada at £270 and Sharm el Sheikh at £280, which should excite property owners.
 
One development in particular which is proving an investor’s dream due to its premium location and 2 year rental guarantee is Ancient Sands Golf Resort. Set around an 18-hole Karl Litten designed championship golf course the spacious homes of Ancient sands afford stunning views of the mountains, golf course and crystal clear lagoon waters.
 
Highly popular, buildings 1 and 2 are already sold out however studio apartments are now available in building 5 from £117,000. There are a wide variety of amenities on-site including spa centre, Quintessentially concierge service, restaurants, bars, swimming pools, tennis academy and children’s play area.
 
For more information about buying in the Egyptian holiday hotspot of El Gouna please contact the experts at Experience International on +44 (0) 207 321 5858 or visit www.experience-international.co.uk.
 

Sharm El Sheikh trumps the Maldives and Rio de Janeiro in World Beach Index

by Charlotte Ashton Brazil Egypt

If you are looking for the best beach in the world then forget old favourites such as the Maldives or Rio de Janeiro and head to the shores of Sharm El Sheikh according to the latest Kelkoo Beach Index.

Results of the Index, commissioned by Kelkoo and conducted by the Centre for Economics and Business Research and YouGov, saw the popular resort of Sharm El Sheikh in Egypt ranking in 4th place, just behind Antalya in Turkey, north Tunisia and Bulgaria’s Black Sea Coast but notably ahead of the Canary Islands, Bali, Côte d’Azur, Maldives, Hawaii and Rio de Janeiro.
Using the latest official statistics to assess the performance of 10 key travel criteria, the Kelkoo Beach Index revealed that 85% of Britons deemed affordability the number one deciding factor for selecting a holiday destination followed by security (81%), the weather (78%) and good food (77%).
As Steven Worboys, MD of Egypt property experts Experience International, comments,
“It is no surprise that Sharm ranked so highly. Located on Egypt’s Sinai Peninsula, it’s renowned for its year round attractive climate with average annual temperatures of 35˚C and 13 hours of sunshine per day. Combined with the low cost of living, ease of access from the UK and its location outside the euro zone, Sharm El Sheikh should be on every holidaymaker’s wish list.”
Tourism levels have been rising steadily across Egypt, even through the recent economic downturn with strong revenue figures reported for the first half of 2010. According to Egypt’s Tourism Minster, the country’s tourism generated revenue increased by 17.6% to over $5.5 billion in the first half of 2010 compared to the same period in 2009. 
As Worboys remarks,
“Over 7 million foreign tourists visited Egypt in the first half of this year, a significant number coming from Russia during the winter months, and this figures is expected to at least double by the end of 2010. This influx is generating significant demand for accommodation with savvy second property owners cashing and renting their homes on both long and short term lets.”
One development located in a premium position, just a few minutes walk from the world class beaches of Sharm El Sheikh is Shark’s Bay Oasis. These high quality 1 and 2 bedroom apartments, some completed and ready to move into or rent out now, afford direct sea views and superb communal facilities including the choice of four swimming pools and a children’s playground.
Properties are currently available from £118,700; for more information please contact the experts at Experience International on + 44 (0) 207 321 5858 or visit www.experience-international.co.uk.

New flights from Manchester to Egypt for a phar’aoh price

by Charlotte Ashton Egypt

Marking the low-cost carrier’s 50th route from Manchester airport, Jet2.com has announced new flights to Hurghada, the holiday hotspot on Egypt’s Red Sea coast.

Flights to Hurghada will begin on 15th October 2010 allowing access to Egypt’s stunning sandy beaches and crystal clear waters all year round. An additional Sunday service is also being operated by Jet2.com to the diving mecca of Sharm el Sheikh from Manchester with tickets just £79.99 one way including taxes.

Jet2.com’s expansion of routes into Egypt comes from increasing demand for affordable and easy access to this popular holiday and second home destination from the UK. The nation as a whole has bucked declining global tourism trends by recording a 29% increase in tourist arrivals between January and March this year and over 1 million British tourists visited last year.

As owner of Jet.com, Philip Meeson, commented:

"It [Egypt] is an extremely popular destination offering year-round sunshine, dazzling beaches and world-class diving. And since it sits outside the Euro-Zone, offers fantastic value to those sun-seekers wanting to stretch their budgets that little bit further."

The additional routes also spell good news for property owners living in the Manchester area such as Phil Cotton from Stoke-on-Trent who purchased a 2 bedroom penthouse apartment in Hurghada through Experience International last year.

Easy access from the UK was a priority for Phil and his wife and therefore the new direct route from Manchester, under 1 hour from Stoke and Hurghada International Airport (with a new terminal currently under construction) being only 10 minutes from their home in central Hurghada, is a real advantage.

Another sought-after development located on Hurghada’s “Golden Mile” just 5 minutes from the airport is Samra Bay Marina and Spa resort. This luxurious development affords a truly frontline location with the studio and 1 bedroom apartments enjoying a private beach, natural lagoon, landscaped gardens and adjacent access to the Promenade, complete with world renowned restaurants, bars, cafeterias, clubs and shopping centres to meander through.

Prices start from €59,300 with 8 years guaranteed income at 8%. For more information on Samra Bay or indeed other premium developments in Hurghada or Sharm el Sheikh, contact the experts at Experience International on + 44 (0) 207 321 5858 or visit www.experience-international.com.

6% growth in dive tourism boosts demand for Red Sea property

by Charlotte Ashton Egypt

 

Egypt’s Red Sea coast is regarded as one of the world’s finest diving destinations and now with dive tourism identified by the World Tourism Organisation (UNWTO) as one of the fastest growing tourism sectors, demand for homes in this diving mecca is growing.
 
With crystal clear waters, sheltered bays, pristine coral reefs and protected areas such as Ras Mohammed National Park, 19 miles from Sharm El Sheikh, Egypt’s Red Sea coast draws millions of divers each year from all over the world many of whom go to complete their PADI (Professional Association of Diving Instructors) training. It is estimated that 600,000 new PADI divers are certified each year, representing annual growth of 6%.
 
Steven Worboys, diving enthusiast and MD of Experience International, which markets over 5000 premium properties along the Red Sea coast, comments,
 
“The superior diving available along the Red Sea coastline plays a key role in the success of resorts such as Hurghada, Sharm el Sheikh and Sahl Hasheesh. Due to the unique marine environment it is possible to step from the sandy shores straight into pristine coral reefs. It is for this reason that more and more people are looking for a permanent base in the area, a second property which they can use at their leisure to pursue their hobby but also rent out to other diving aficionados.”
 
This lifestyle appealed so greatly to Phil Cotton from Stoke-on-Trent who as a self-proclaimed “natural born diver and sun lover” fulfilled his lifetime dream of living and working by the sea when he purchased an apartment in the popular town of Hurghada.
 
Phil explains:
 
“My wife and I knew that Egypt was the right country for us having visited Sharm el Sheikh and Taba in the past. The year round sunshine, the first class diving – the Red Sea is the biggest and best fish tank in the world! – welcoming local people, an established expatriate community and being not too far from the UK were all important factors to us. Added to this, we have seen property values rise over the last couple of years which was a key consideration seeing as this property is our personal pension.”
 
Phil purchased a 2 bedroom luxury penthouse apartment in the superbly located Arabia Palace development with fantastic sea views from the balcony. As Phil says,
 
“The main appeal of this area is that it is as close to the coast as you can really get, other than in the beach-fronted hotels with fantastic, uninterrupted sea views of the islands off the coast and no buildings being built any higher than ours to spoil the views.“
 
The first phase is already complete with tenants in place but 1 bedroom apartments are still available from only £36,700; for more information please contact Experience International on + 44 (0) 207 321 5858 or visit www.experience-international.com.

Egypt bucks global trend as 29% increase in tourism recorded

by Charlotte Ashton Egypt

 

The popular holiday destination of Egypt is bucking the declining global tourism trend by recording a 29% increase in tourist arrivals and 24% increase in tourism revenue in Q1 2010. 
 
In stark contrast to the overall state of the global tourism industry which is struggling to recover from “one of the most difficult years” (2009, WTO) and currently suffering another blow from the Icelandic volcano crisis, estimating to be costing airlines up to $400 million per day (International Air Transport Association), the north African nation appears to be going from strength to strength.  
 
It cannot be said that Egypt was totally unaffected by the economic slump of the last 12 months but with 3.46 million visitors arriving between January and March 2010 generating a revenue of $2.7 billion, the nation has “completely rebounded” according to Tourism Minister, Zoheir Garranah.
 
Tourism plays an increasingly important role in the Egyptian economy, currently growing at an impressive 5.1%, accounting for more than 12% of jobs and generating $10.76 billion in 2009 according to the Tourism Ministry. The traditional historical and cultural attractions such as the Pyramids of Giza and Luxor remain highly popular but increasingly the Red Sea coast is drawing millions each year to its clear warm waters, white sandy beaches and reliable sunshine.
 
Steven Worboys, MD of Egyptian property experts Experience International, with over 5000 properties along the Red Sea, commented:
 
“Egypt remains one of the most sought-after holiday and second home destinations in the world with over 1 millions Britons visiting annually. The combination of easy, cheap and direct access from the UK, affordable property prices and a reliable climate has made Egypt and the Red Sea coast in particular almost irresistible.”
 
One particular property development which is seeing increased interest not least due to its exclusive SIPP eligibility is the Samra Bay Marina & Spa Resort available through Experience International. Affording a true frontline location on the “Golden Mile” of Hurghada, these luxury studio and 1 bedroom apartments are available from as little as 59,300 Euros, offer a guaranteed income for a minimum of 8 years and are certainly worthy of consideration in 2010.
 
Forecasts for the remainder of 2010 are positive with a minimum 5% economic growth expected and a target of increasing tourism receipts to $11.5 billion. Acknowledging the importance of investment the government also plans to increase spending by 11.2 billion Egyptian pounds ($2 billion) to support the economy, with most of the money going into infrastructure projects.
 
For more information about buying in booming tourism hotspot of Egypt contact the experts at Experience International on + 44 (0) 207 321 5858 or visit www.experience-international.com.

New airport terminal set to boost interest in Hurghada

by Charlotte Ashton Egypt

 

The Red Sea resort of Hurghada in Egypt is set for a boost as plans for a new terminal at the international airport are announced. The Civil Aviation Ministry has signed contracts with a Saudi Arabian development group to construct the new terminal which will increase capacity from some 6.7 million to 7.5 million passengers annually. Located 5km from downtown Hurghada, the new terminal will cover 92,000 sq.m and cost of construction is estimated at 587 million Egyptian Pounds (approx £66 million). Completion is scheduled for 2011.
 
With Hurghada international airport the primary gateway to the popular holiday destinations of the Red Sea coast the additional capacity of the new terminal can only spell good news for tourism and in turn the second property market. As Steven Worboys, MD of international property experts, Experience International, comments:
 
“Interest in the Hurghada area as a location for a second property ownership has been strong, especially as the region has developed into an established tourism destination in recent years. The announcement of the new terminal is encouraging for property owners who will enjoy greater access to their own homes as well as capitalising on the opportunity to generate rental income from additional visitors to the area.”
 
For those interested in owning a second property with guaranteed rental income in Hurghada then the Florenza Khasmin development, located only 15 minutes from the international airport, is the right choice. With studios apartments available from only £21,000 and 6% guaranteed rental income and up to 4 weeks personal usage available investors had better move fast before the 15% price increase due at the beginning of February 2010. 
 
There has never been a better time to visit Egypt with the Post Office’s latest report (Jan 2010) stating that holiday makers should consider making a visit to the non euro zone country, only five hours flying time from the UK, to take advantage of the exchange rate. Calculating which currencies have moved most in favour against sterling over the last year, Egypt was placed in the top 3 with the Pound strengthening against the Egyptian pound by 14%.

For more information please contact Experience International on 0207 321 5858, visit http://www.experience-international.com/country/egypt or follow us at twitter.com/experience_int.

British Airways flies direct to Sharm El Sheikh this Autumn

by Charlotte Ashton Egypt

Sharm El Sheikh is synonymous with diving and year round sunshine, this popular Egyptian resort nestled on the Red Sea Coast is to become even more accessible to UK visitors come 26th October as British Airways (BA) launches thrice-weekly direct flights from London Gatwick to the Sharm El Sheikh International Airport.

Steve Worboys, MD of Experience International property agency comments, “More and more people are choosing to visit non-Eurozone destinations for their holidays due to the weak Pound against the Euro, this same trend is translating into property sales with buyers looking to maximize their investments. Egypt offers the same first class amenities as other more traditional European destinations plus it has the added bonus of some of the best diving in the world for water sports enthusiasts. The contrast between the coastal resorts such as Sharm El Sheikh and the desert is awesome, many visitors head into the desert by camel to explore the Bedouin villages and the sand dunes by day and then soak up the buzzing atmosphere in bars and restaurants by the beach by night; it offers something for everyone.”
Experience International is offering a new selection of properties for sale in Sharm El Sheikh including the Maraqia Resort, where the savvy investor can purchase a studio, one, two bedroom apartment or duplex 3 bedroom loft apartment from as little as £19,600. All the apartments enjoy views over the pool of which there are 3 in total on the development and ground floor apartments come with a private garden. Investors benefit from no capital gains or inheritance tax and Egypt has a very low cost of living.
To book flights to Sharm El Sheikh visit ba.com and to enquire about your home in the Egyptian sun contact Experience International on 0207 321 5858 or visit http://www.sharm-el-sheikh-property.co.uk/.