Egypt Properties

Marsa Alam Property Set To Be Biggest Story In Coming Decade

Marsa Alam, on Egypt’s Red Sea coast is set to be one of the biggest stories in overseas property in the coming 5-10 years. Whilst Hurghada and Sharm El Sheikh are known as some of the hottest property markets in the world — Marsa Alam is a new, young, emerging market with many of the same qualities and the same phenomenal potential for growth.
 
Marsa Alam property carries many of the same benefits of those mentioned above. However, because Marsa Alam is one of the latest property markets to spring up on Egypt’s Red Sea coast, property prices in the area are slightly lower than the two aforementioned hotspots. Studio apartments for sale in Marsa Alam start from around £20,000, 1 bedroom apartments start from around £25,000 and 2 bedroom apartments from around £38,000.
 
As many people will know, Egypt’s Red Sea coastline is famous for its scuba diving, and Marsa Alam is one of the best loved scuba diving hotspots within the Red Sea Riviera. And why not; with winter temperatures in Marsa Alam range from 18-35 degrees Celsius, and this goes up to 20-45 Celsius in the summer? Talk about a year-round-warm climate.
 
And therein lies one of the biggest attractions of property in Marsa Alam and the wider Red Sea Riviera; a warm climate all year round gives the potential for year round holiday rentals. This is, of course also a draw for lifestyle buyers, because they know that they will still have warm weather if they choose to use their property only in low-season.
 
This however is where Marsa Alam’s immaturity kicks in: compared to Hurghada and Sharm El Sheikh, Marsa Alam is still very early in its growth as a tourism hotspot. That said: the potential for growth is huge as people expand their horizons to explore new parts of their much loved Red Sea Riviera and as the Egyptian government and tourism companies step up their marketing efforts in the coming years.
 
One must also remember that most of the Red Sea Riviera is protected from development as part of government nature reserves. This means that development will naturally spread out to other areas of the region. So while 2010 maybe the year that Sharm el Sheikh and Hurghada really start to take off, in 2-3 years time, when demand is massively outstripping supply, in will come Marsa Alam at prices much higher than they are now into a seller’s market. Therefore the time to buy is most definitely now.

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