Kamarea Resort Hurghada, Egypt € 22.174 - € 56.257

In Brief

Kamarea Resort Hurghada, Egypt 10 photos active
Price: € 22.174 - € 56.257
$ 28.123 or £ 18.355
Price per sq.m.: € 434 - € 436

Agency commission: -

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Type: Apartment / Flat
Bedrooms: 1 - 2
Bathrooms: 1 - 2
Total Area: 51 - 129 m2
Garden area: 0 m2
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Your Agent

Trendafil Dryankov

Overseas Property
Phone:
+359 (0) 2 97 33 111
Mobile:
+359 (0) 878 91 92 92
Email:
overseas@excelproperty.biz
Skype:
excel.property.overseasCurrent Status
Address:
27 Liditse Str., ap.2 Geo Milev quarter, Sofia
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Agent's Description

Kamareia Resort is a luxurious, new, low-density development that is being built in one of Hurghada's most upmarket locations - nestling between the villas of Mubarek 6, which are very popular with Europeans, and the exclusive villa district of Magawish.

The development is only 800m from a public beach and marina. A free shuttle bus service will connect the resort to the beach and also to Hurghada International Airport, which is well under ten minutes away from the resort.

As opposed the majority of developments in Hurghada which contain five floors, the buildings at Kamareia Resort contain just three. Containing perhaps the lowest density of buildings of any development in Hurghada, the large gardens at this resort give a feeling of openness and tranquillity, despite the fact that it is located right in the heart of the town.

Constructed in the classic Nubian style, similar to many of the buildings in the luxurious El Gouna resort, Kamareia Resort features a combination of differing sizes of apartments and villas together with a hotel. Facilities including three large swimming pools, tennis courts and a health club give a variety of entertainment options inside the resort, with all of Hurghada's many attractions just a short taxi ride away.

Most of the ground floor apartments come with large private gardens and many of the second (top) floor apartments have private roof terraces.

All of the two-bedroom apartments can be easily converted into two-bedroom/two-bathroom units for an additional price of around £1,500.

Despite the luxurious qualities of the Kamareia Resort, prices are surprisingly affordable, with studios starting from just £20,000.

Completion date: Phase 1 Middle 2009, Phase 2 Middle 2011

COMPLEX FACILITIES AND BENEFITS:

  • Just 800m from the beach
  • Three large swimming pools
  • Low density development containing a low ratio of buildings compared to the large area of landscaped gardens
  • Free shuttle bus service linking Kamareia Resort with the local public beach and also to Hurghada International Airport
  • Sports facilities including tennis court and five-a-side soccer pitch
  • Children's playground
  • Residents can use all of the facilities of the attached hotel including its bars, restaurants and coffee shops
  • On-site shops including a supermarket and pharmacy
  • On-site internet cafe
  • On-site medical clinic
  • Health club
  • Centralized satellite television
  • High speed Internet to all apartments plus wifi
  • Public reception area
  • 24 hour security
  • Full management service available

Property Information

Ref. No.: AA-HKR
Category: Seaside properties
Year built: 2009
Units in building: 29
Units sold: 11
Location: Hurghada
Country: Egypt
The offer was published on: 30 May, 2009
The offer has been viewed: 2635 times
Enquiries received: 99

Floor Covering

  • Ceramic Tiles

Exterior Features

  • Cement/Concrete
  • Brick
  • Drainage
  • Decorative plaster

Interior Features

  • Dining Room
  • Master bath
  • MDF doors
  • Interior elements
  • Air-conditioner

Unit Features

  • Balcony / Terrace
  • Top Floor
  • Penthouse
  • Ground Floor
  • Private garden
  • Reception
  • Veranda
  • Aluminum double-glassing joinery

Facilities

  • Parking place
  • Laundry facilities
  • Beauty salon
  • Playground for children

Local Activities

  • Fishing
  • Water sports
  • Surfing
  • Cycling
  • Swimming
  • Diving
  • Sailing
  • Walking / hiking
  • Tennis

Local Amenities

  • Post office
  • Medical service
  • Bus station
  • Disco club
  • Aqua park
  • Casino
  • Night clubs
  • Airport
  • School

Payment Information

  • 2000 Euro reservation (non refundable in case of refusal by the purchaser to conclude deal)
  • 40% Upon signing the contract
  • 25% Three months following signature of contract
  • 25% Six months following signature of contract
  • 10% Upon completion (Phase 1 Middle 2009, Phase 2 Middle 2011)

Additional Information

About Hurghada:

  • located on the West Cost of the Red Sea (around 40 km cost line)

  • population: 35.000 (including around 5.000 foreigners)

  • symbol: marmaid (statue in Sakalla)

  • there are around 150 hotels in Hurghada

  • there are 70.000 tourists from Europe coming every week to Hurghada

  • sun is shining 99% days in the year

  • hotest months: July, August

  • coldest months: January, February

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Nearby

  • Nearest airport: Hurghada Airport 1km
  • Nearest bus station: Hurghada 4km
  • Nearest highway: Hurghada-Kairo
  • Nearest beach: Hurghada 800m
  • Nearest port: Port Hurghada, 800m

Egypt

Country overview

Egypt has long been known as a tourist destination but now a recent explosion in water sports holidays is fuelling a property boom, especially along the Red Sea coast, and British buyers are grabbing a slice of the Egyptian action in their droves. Red Sea properties are by far the most popular amongst foreign house hunters and this has been reflected in impressive house price increases.

  • Population: 78,900,000
  • Capital: Cairo
  • Approx. exchange rate: £1 = 11EGP (Egyptian Pound); €1 = 7EGP
  • Visas: Yes, visitor visa and renewable twelve-month work visa
  • Time difference: +2 GMT
  • Flight time from UK: 5 hours
  • Major airports: Abu Simbel, Alexandria, Aswan, Borg el-Arab, Cairo International, Hurghada, Luxor, Sharm el-Sheikh
  • Dialling code: 00 20 (+20)

Climate: The climate is good all year round with the North Coast and delta regions influenced by the Mediterranean climate and subtropical climate in the south. The long hours of sunshine and an average daily temperature of 21.9C (Cairo) makes it the perfect destination for sun seekers.

Accessibility: Its popularity as a tourist destination means that there are regular flights from the UK to Egypt, less than 5 hours flying time from most of Europe.

Why invest

More overseas buyers are already purchasing in the country. The Egyptian real estate sector has recently experienced a substantial growth, partially stimulated by relatively strong demands from expatriates and foreign nationals to purchase properties in Egypt. Traditionally, the overseas property market in Egypt has been concentrated in and around El Gouna, a resort about the same size as London located on the Red Sea coast some 600 kilometres south of Cairo, the capital.

Property prices have already gone up in the past 12 months as have land prices – by as much as 60 per cent in some areas. Prices are expected to grow by around 15 per cent in the coming months as Egypt starts to become better known in property circles.

Legals and Taxes

Buying property in Egypt is a straightforward affair provided you employ a lawyer to sort out an otherwise complex system of property registration.

Foreign purchasers have the right to own real estate and land in Egypt. Today the government recognizes the great value foreign investors in property have for the success of the economy and have set about actively encouraging overseas buyers to Egypt. New laws have been established to make the Egyptian property purchase procedure more secure. For example, the government can no longer impound or nationalize any property they wish – a practice that stood for centuries. These changes, along with a few others, are increasing confidence amongst overseas buyers.

Once you decide on a property, you will need to pay a holding deposit to take the property off the market while contracts are drawn up.

Lawyers

Lawyers in Egypt will normally speak English and will be able to produce your necessary paperwork in Arabic, as required by all the authorities. Egypt has many complex real estate registration issues so it is critical to have a lawyer conduct the appropriate searches and provide you with legal advice regarding the purchase. Local lawyers will also help you through the best way to conduct business with the local people who have their own particular idiosyncrasies and customs which are important to be aware of.

Fees and Taxes * Property registration and legal fees for conveyance total around 6%. * Stamp Duty on property is payable by the buyer at 3%. The buyer will also pay a small inspection and measurement fee (approx. 65 euros). * Tax on any form of income from property runs at 20 to 22% and is basically the alternative to Value Added Tax. Many countries enjoy a double taxation treaty with Egypt. * Egypt levies no inheritance or capital gains taxes.

Registration

Most Egyptian properties are not registered, even though registration is an essential pre-requisite to a purchase. Therefore the lawyer’s assistance in liaising with the Real Estate Registration Office in Egypt is essential in order to ensure the property is duly registered and prepared for foreign purchase. Registration can take up to four months. After inspections and payment of taxes/fees, you will finally obtain a new title from the Registry.

Please contact us if you need further information!