Giftun View Development Hurghada, Egypt € 34.614 - € 54.141

In Brief

Giftun View Development Hurghada, Egypt 4 photos active
Price: € 34.614 - € 54.141
$ 43.901 or £ 28.652
Price per sq.m.: € 524 - € 401

Agency commission: -

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Type: Apartment / Flat
Bedrooms: Studio - 4
Bathrooms: 1 - 2
Total Area: 66 - 135 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

Giftun View is an intimate and exclusive new development consisting of less than 30 apartments in the Arabia district of Hurghada - a quiet location, but one that is just five minutes from the thriving heart of the town.

This project is an ideal one for anyone who is looking for stunning sea views on a budget as each unit in the building offers excellent views of the crystal blue waters of the Red Sea and the famous nature reserve of Giftun Island beyond.

With prices of under 530 euro per sq. m., meaning that a good-sized one-bedroom apartment can be had for around 34600 euro, Giftun View is the perfect choice for the budget conscious buyer.

It is also an excellent project for anyone who does not want to wait too long for delivery of their apartment as construction is nearing completion and there is a show apartment already for inspection.

Giftun View occupies an enviable location in Hurghada's Arabia district, containing many of the most popular hotels in Hurghada, such as the Grand Azur, Arabia and El Palacio resorts and benefits from being quieter than the main tourist centres while providing excellent sea views.

Divers will appreciate the fact that one of the most popular docks for diving boats is just two minutes' walk from Giftun View. Hurghada's historic fish market, boatyards and the ferry to Sharm el-Sheikh are less than ten minutes' walk.

Hurghada International Airport is also only an 8 minute taxi ride away from here.

Completion date: February 2009

COMPLEX FACILITIES AND BENEFITS:

  • Just 100m from a beach
  • Stunning sea views from all apartments of the Red Sea and Giftun Island beyond
  • Private beach access through one of the local hotels at modest fees (TBC)
  • Close proximity to one of Hurghada's busiest diving docks
  • Maintenance fee is one-time payment of EGP15,000 (around £1,500) refundable upon sale

BUILDING FINISHES:

  • Rendered walls painted
  • Internal doors with locks
  • All electrical power points and light switches
  • Sockets for internet and telephone
  • Granite work surface in kitchen, plus stainless steel sinks with mixer taps
  • Marble vanity shelf, extractor fan and ceramic wall tiles in bathrooms

Property Information

Ref. No.: AA-HGVD
Category: Seaside properties
Year built: 2009
Units in building: 24
Units sold: 5
Location: Hurghada
Country: Egypt
The offer was published on: 01 Jun, 2009
The offer has been viewed: 2317 times
Enquiries received: 208

Floor Covering

  • Ceramic Tiles

Exterior Features

  • Cement/Concrete
  • Brick
  • Plaster coat
  • New tile-roof
  • Drainage
  • New electrical wiring
  • New piping
  • Decorative plaster

Interior Features

  • Dining Room
  • Shower Cabin
  • Master bath
  • Bathroom/WC
  • Bathroom
  • Kitchen units
  • Laundry room
  • Furniture
  • Electric appliances
  • Ornamental elements
  • Air-conditioner

Unit Features

  • Balcony / Terrace
  • Top Floor
  • Penthouse
  • Ground Floor
  • Private garden
  • Service Room
  • Cable / Satelite TV
  • Phone line
  • Internet
  • Security system
  • Reception
  • Veranda
  • PVC double-glassing joinery

Facilities

  • Laundry facilities
  • Security Gate
  • Lobby bar
  • Resaurant
  • Beauty salon
  • Supermarket

Local Activities

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

Local Amenities

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

Payment Information

  • 10% Reservation fee(non refundable in case of refusal by the purchaser to conclude deal)
  • 40% Upon signing contract (within 15 days of reservation)
  • 20% Two months following signing of contract
  • 20% Four months following signing of contract
  • 10% Upon completion (February 2009)

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

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Nearby

  • Nearest airport: Hurghada Airport, 2km
  • Nearest bus station: Hurghada, 3km
  • Nearest highway: Hurghada-Kairo
  • Nearest beach: Hurghada 100m
  • Nearest port: Port Hurghada, 500m

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!