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Completing in six months - Hurgarda [ SOLD ]  Region: Hurghada  Price: EUR € 29 213  Bedrooms: 1  Property Type: Apartment  Development State: Developed

Features: Disabled Access, Terrace / Deck Amenities: Near beach resort, In beach resort, Near the Sea, In vacation place, 24 Hour security, In Town, Garage, Near Town Description:
Tranquilia Town Apartments, Hurghada

A Unique Investment

Opportunity - From £24,600 (GBP)

Start Generating Rental Income Six Months From Purchase

Comprising of one, two and three bedroom residential units, the apartments which were built in 1996, are currently undergoing major upgrading to the highest European standards. Once the sale of each apartment is agreed, the upgrading work will commence and the property will be ready to use in just six months.

Uniquely positioned as a domestic rental investment, this Egyptian investment property has been sourced purely to enable both institutional and private investors to capitalise on the ever-increasing demand for quality rental property from those working in Egypt’s fast-growing professional and tourist sectors. Tranquilia Town Apartments’ central location is ideally suited to attracting rental clients in a town where quality long term rental accommodation is at a premium.

Tranquilia Town Apartments – Overview

Tranquilia Town Apartments are modern residential dwellings occupying an envious position above a prestigious retail complex in the vibrant centre of Hurghada. These well-specified Hurghada properties are only one block back from the town’s magnificent seafront and many apartments enjoy spectacular views over the Red Sea Riviera.

At nine floors, (the top five floors are solely residential) this stylish and distinctive circular building is the highest in Hurghada. Because of new planning regulations limiting the height of future developments, the complex looks likely remain the tallest edifice on the town’s skyline and is a definite candidate for future landmark status.

Rental Example for an Apartment Costing £35,000

Rental income is calculated to accrue from a 9 month period (allowing for 25% non-occupancy during the year). This example is for a 73sqm, 2 bedroom apartment based on two or more people staying on a medium/long term letting.

Rental Breakdown - Based on 40 week occupancy and 70/30 Client/Agency split

* Weekly rent £100
* Gross annual rental £4,000
* Agency fee £1,200
* Net annual rent received £2,800 (8% rental yield)


Purchase Breakdown

* Core cost of apartment £35,000
* Legal costs £1,000
* Government purchase fee £300

Total: £36,300

Combined Investment Forecast

Conservative estimate of annual capital appreciation: 10% = £3,630.
Add to this the annual rental yield of £2,800 (based on 75% occupancy), to realise a combined return on investment of: £6,430 per annum (18%).

Furniture packs are available on request

Purchase Procedure

1. Chosen apartment is secured with a £2,000 reservation deposit. This is deposited into a client reservations account. Upon clearance of these funds the property is taken off the market.
2. The investor returns the contracts to the solicitor within 21 days from the date of contract.
3. Contracts (3 copies) are then sent to the investor for signing and authorisation and returned to the solicitor with completion funds (-10% payable upon completion of refurbishment).
4. Exchange and completion then takes place.
5. The title deeds are obtained by the solicitors from the vendor to enable registration of the purchaser’s title to take place in Egypt.

Ten Solid Reasons to Invest in the Tranquilia Town Apartments

1. Low entry price – One bedroom apartments from just £24,600 (GBP)
2. No risk in construction – Apartments already built
3. Yearly combined capital growth and rental yield of at least 18%
4. Ready for occupation six months post-purchase
5. Favourable tax climate – no capital gains, or inheritance tax in Egypt
6. Simple and inexpensive buying/legal process
7. Year-round rental potential
8. On-site, comprehensive rental management already in place
9. Advantageous pooled rental scheme
10. Low property maintenances charges in Egypt


Tranquilia Town Apartments - Key Property Features:

* Satellite TV, air conditioning and direct dial phone pre-installed
* Fully fitted kitchens and bathrooms
* Kitchen to include dishwasher, microwave, fridge, washing and machine
* Wireless internet access - at a small additional cost
* Apartments built to high European specifications
* Roof top Jacuzzi, bar, sun lounging areas
* Room service will be available
* 24 hour reception and security
* Elevators to all floors


Investment Guides

For comprehensive information on this unique, not-to-be-missed investment opportunity, please fill in the request form (below). You will find much useful information in the requested literature, including:

* More investment examples and full investor report
* Detailed rental management and pooled rental scheme information
* Comprehensive Egypt country guide
* In-depth economic overview of Egypt
* Full regional summary and much more

Applications welcome from bulk purchasers/institutional investors.


Tranquilia Town Apartments Prices:

One bedroom apartments from: £24,600 (GBP)

Two bedroom apartments from: £35,200 (GBP)

Three bedroom apartments from: £52,000 (GBP)

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