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Naama Town Resort

  





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  Investment with Sunny Sharm Real Estate
In 2001, Sharm EL Sheikh was declared the ‘City of Peace’ by UNESCO
(United Nations Educational, Scientific & Cultural Organisation), following successful democratic progress at both international and local levels.
This has been continued with agreements with COMESA, (Common Market for Eastern & Southern Africa) the EU and WTO allowing investment to be simplified for foreign nationals wishing to buy property. There are no ‘land grab’ issues, or complicated legal arrangements, as often found in other countries, and due to the fact that Sharm El Sheikh is sited between 4 National Parks; Ras Mohamed, Nabq, St. Katherine and Akaba, the area is not going to become saturated and over developed.
In 2002, the Egyptian Government approved change of ownership to foreigners, which operates on a 99 year renewable lease. For example, if you bought a property and wished to sell it in say, 7 years time, it would be re-sold with another 99 year lease.
The Weather is warm and sunny for 12 months of the year, making rental (if relevant) easy to achieve, and there are no restrictions on the amount of time you can reside for, which allows your property here to be your permanent home. A Visa can be obtained for approximately £30, and renewed yearly. Crime is very low in Sharm El Sheikh, in fact few businesses have security alarms as it is considered very safe. The tourist police are on hand in resort areas should you require any assistance, and English is widely spoken. All developments and resorts have their own private security.
 
Tax

There is low stamp duty and a low death succession duty of 7% (to transfer property), and there is no capital gains tax. The cost of living is very low; (1 litre of petrol costs 9 UK pence) and utilities, food and travel are cheap. The life style is friendly, with many communities of foreign nationals here from around the world. Alcohol is controlled; however it is widely available in most areas. British citizens are investing £10 billion GBP outside the UK on second homes every year, according to statistics at the British Chamber of Commerce, and in Egypt, especially Sharm El Sheikh, this investment has totalled around £1 Billion GBP so far.
Egypt has one of the highest returns on investment through rental value, compared with the UK (4-6%), Singapore (3-6%), India (5-6%), and the UAE (7-12%).In Egypt, the return is between 11 and 17%, with occupancy guaranteed and managed by many resorts where property is sold, taking the hassle out of renting, and providing a good income and return on investment.
The premium appreciation in the last 18 months within Sharm El Sheikh has been on average 100%. Appreciation in the next year is expected to be between 40% and 60%. Sharm El Sheikh is newly located in the charts of investments, offering very secure return on investment for both short and long term short term interests. In the last 15 years, the government has invested around £1.4 Billion GBP, in the infra-structure and now there are now over 140 Hotels operating 35,000 rooms.


Starting a business
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Costs

A 2 bed apartment (approximately 80-100 Sq m) can now cost on average around £45,000 GBP in a high quality complex, with pools and facilities. This will achieve at least 60-70% occupancy per year, with the return on investment being between 22-35% for weekly rentals for holiday makers.

A guide to buying off plan in Egypt    Click Here...