Egypt's Hurghada resort is becoming increasingly more attractive for those looking to invest in property abroad, according to one expert.
Nick Marr, chief executive officer of property firm HomesGoFast, has described the east coast resort - which is the country's second most popular tourist destination - as the "Red Sea's Riviera" adding that low prices and an airport have made the area an ideal option for those looking to invest overseas.
"Prices are still low enough to buy an off-plan studio for under £20,000," he remarked. "[This] can be a great way of buying property without the need for finance."
However, Mr Marr urged potential purchasers to carry out checks on the construction company being used, in order to ensure the low price doesn't "compromise the quality of the building construction".
According to the World Travel Council, economic growth in the tourism sector is expected to increase by 5.4 per cent each year over the next decade.
See Also: Property News (5994)
Date Published: 06 October 2008
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