Studio Apartments in Hurghada from £8293 - Incredible

Azure Overseas are happy to announce the lowest priced property in Hurghada ever has just been added to the site. We recently raved about the new Tiba Heights 2 development, but the Isida development is closer to the sea, has a bigger pool, bigger gardens and is 10% cheaper.

You can now buy an apartment in Hurghada for just £8,293. Developments like this are the reason why Hurghada property is set to become one of the biggest stories ever seen in overseas property. For the price, Isida is top quality, and with an array of features including:

• Located just five minutes' walk from a public beach
• Good location in the heart of the fast evolving Al Ahyaa area of Hurghada.
• Large swimming pool on site with dedicated childrens' section
• Gardens around the project
• Communal roof terrace with seaviews
• Centralized satellite television, telephone and internet links to all apartments
• High speed internet to all apartments
• Two elevators to all floors
• 24 hour security
• Ten years' builders' guarantee
• Low annual maintenance fee of just LE2500 (GBP280/EUR340)

The only reason why you don’t read more about Hurghada in the press is because of the obstacles that the economy still must overcome, most prominently the massive gap between rich and poor. But at such low prices, and with so much growth potential, for many people it is well worth throwing in, and as a result Hurghada property is currently one of Azure Overseas’ biggest sellers.

Both the World Bank and the International Monetary Fund are forecasting growth of more than 4% in the Egyptian economy this year (4.5% and 5% respectively), and the IMF is forecasting growth of 6.3% next year. Both are known for being bearish on markets, because they decide which will get loans and which won’t.

You tend not to think about it because Hurghada is known for low prices, but a studio apartment for just over 8 grand, in a luxury resort, in a place with a warm climate year round, clean, safe beaches, and tourism from britain alone growing at 20% per year (Association of British Travel Agents), is nothing short of incredible. Little wonder that projected yields are 10% upwards. It is off plan, and so certainly a high risk category investment, but if you do the proper research this risk can be minimised.

Overseas Property Industry: the Worst is Over - the Buyers are Back

Well, it certainly seems that the worst is over. I'm talking about the global financial meltdown that started in America first in late 2006, spreading throughout the world's developed economies like an unstoppable disease into 2007, and breaking down the immune systems of emerging markets, most of which ended up being affected sometime in 2008.

My regular readers will know I am somewhat of a pessimist that can spot a pundit talking up the market to create false optimism a mile away. That said: at the moment there is just too much positivity about to brush away, and, more importantly activity is increasing in the overseas property industry, people are buying again (in numbers).

If you are an overseas property agent, or anyone with a vested interest in the sales of overseas property (to British buyers), and you have survived this far, you can breathe a slight sigh of relief. However, we mustn't rest on our laurels; we must step up a gear and secure every possible sale we can while the going is good, in case things drop off again when the world's government's pull back on their stimulus spending.

The credit crunch, however has brought about changes that will not be reversed for sometime, if ever. No longer are people so quick to hand over their money because an agent tells them that the returns will be huge. People are eager now to do their own (due-diligence) to research the pros and cons of a development and region. Another change is that people are tending to look for cheap property abroad.

This is a good thing, because reports of people losing money because of fraudulent or incompetent developers do the whole industry damage.