Is this per week - if so this is about £136 to £180 - so I assume that this is per month - being about £30 to £42 per week - not much

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Hi Dave, this is per month and this really is the average here in Hurghada. High rental returns are achieved through hotel lets. However if you are just looking to cover costs and rely solely on capital growth then rental to the foreigners living here is much better. They tend to take greater care of the property and its contents.

Dave - what u say is rubbish I live and pay rent every month here. If u work here the max is 2000 LE per month on a 1-2 bed apartment.

My friend Chris who has retired here from Ibiza rents a 2 bed apartment in Oasis this development is run by an English woman and he only pays 2500 LE per month. High rental will only be made from tourists and cannot be relied on all year round.

From January to March this is low season and all the rents drop. It is seasonal here.

I am not even thinking about renting ,I think I will only rent to people I know and if it pays my yearly fees i will be happy.

Hi
Most of the developers here give unrealistic targets for rental income,again i think it all comes down to flight prices,whilst you can get a reasonable all inclusive deal its going to be hard to make a living from rentals.
There are 2 main driving factors in this debate one of course is the vast amount of properties being built here in Hurghada and the other is as we have said is the flight prices,it seems that flight prices are cheaper from other european countries than from the UK,so it would seem logical to look futher than just the UK to rent your property.
Remember the price of property here is on the increase all the time so its not always necessary to rent it out. Another option if you have bought as an investment ie:-not to use yourself is to rent long term to a high paid egyptian or a foreign worker here,that way you do have a guaranteed income all be it not as much but its still an income.


Ex-Boltonian living in Hurghada

Has anyone else discussed rental potential of units in Hurghada? One possibility would be long term tenancy. This was suggested by an agent who was new in the country saying that she herself had to rent for herself. There are enough Russianns.. in the area too?

There are plenty of people needing to live and work in Hurghada as the entire town is expanding. Long term rental is certainly an option for those who do not plan on spending time in their apartments. It wouldn't work in the bigger front line resort areas as the owners here will do better with short term lets once the facilities are completed.

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The agent I spoke with was an American lady working for a Russian outfit. She eluded to going for long rental due to the reasons u have suggested (workers needing long term place to live..) I cant see teh rentals being all that good though for teh type of holiday apartments people are buying.

Hi
When we moved out here over a year ago it was always our intention to purchase 2 places here in Hurghada one to live in and one to rent to get some form of income. We have a 120 sq mtr 2 bed 2 balcony property with shared pool and glass lift in the touristic area. Having advertised it with a few english rental companies nobody has replied.
The only way we found was to rent the property to foreign people working here or a high earning egyptian on a long term basis. This is due to the cheap all inclusive deals and the lack of cheap air fare. In the summer season there is only friday charter flights that are direct from the uk,but in the winter season the add aditional tuesday flights as well.
So to rent out on a long term basis you can expect a return of around 2500 3000 le per month as most people here want to rent long term. Until we have cheap flights here ( like easyjet flights to morocco ) then we will struggle to rent out to holidaymakers.

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The price quoted was not a guess but reality.Unfortunately the rental prices quoted by developers are unrealistic in Hurghada (Sahl Hasheesh/El Gouna are a different market i.e more upmarket).
Prospective purchasers of apartments sold in Hurghada need to be aware that it is not as easy to rent out their apartment as they may think.
As previously stated until we have cheap flights then we cannot compete with flight/hotel package.
The £3000 annum income for the rental of apartment is plenty to live on out here.
The quality of the apartments is not the issue its ALWAYS going to be dependent on the flight prices and availbility.
Though i am not to sure of why the reference to the Russians......To live and do business here in Hurghada one has to be respectful to all nationalities.

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