Interest in Apartments in Hurghada for sale surges during Covid

Top London firm Go Investment, who have apartments in Hurghada for sale has seen a surprising increase in demand from British buyers wishing to purchase furnished apartments for sale in Hurghada since the first Covid lockdown in March 2020. While many industries are struggling to find their feet and adapt to the changes and challenges that the Covid restrictions have imposed upon them, it seems growth has been found in some of the most unexpected markets.

They have credited the surge in this demand to a few factors, one being Brexit making people consider properties outside of Europe and now looking further afield to cheaper places, such as apartments in Hurghada for sale. However, one of the main changes in demand is said to come from the need for people to have a light at the end of the tunnel when Covid is over and have something to look forward to.

Sam Sunter who works at Go Investment has said that “Since Covid hit in March 2020, we have seen increased levels of interest in our apartments in Hurghada for sale. The lockdown hit just as the launch of our new project, the Imperial Resort was launched and we saw record sales in the resort. Within 6 months of the lockdown, 70% of the resort was sold out and this was 12 months ahead of our 18-month target.”

UK citizens taking advantage of affordable apartments in Hurghada for sale.

Many people are now working from home more than ever, this newfound freedom has now encouraged people to look further afield, giving them a huge change in their lifestyles. The Guardian reported in September 2020 that “Covid has forced many people out of workplaces. Some have saved money by moving overseas.”

While some people have escaped abroad already, Go Investment has reported that although they have completed and ready apartments in Hurghada for sale, many people have purchased in the off-plan development, the Imperial resort. This may be due to the many ongoing travel restrictions as a result of the lockdown, meaning many plans of escaping abroad may have had to be put on hold for some time.

This brings with it, the need for people to have something to look forward to. When you purchase one of the off-plan apartments in Hurghada for sale via Go Investment, they provide monthly photo updates of the progress of the resort. This is so clients can see what is happening on site each month and this goes in hand with their monthly payment plans, allowing clients to pay as the apartment is being built.

Mr Howard who has purchased at the Imperial resort which is due to complete in summer 2023 says “While it seems every other aspect of my life is at a standstill; I really anticipate the monthly updates as it is nice to watch something progressing and moving forward, it really gives me hope in these very trying times.”

While many are struggling with finances and it may seem that the last thing that people will be looking for is apartments in Hurghada for sale, many people have actually found themselves with extra money to spend. In a recent report on the 11th of February 2021, the Bank of England announced that they expected that there were accidental savings in the UK of around 250 billion pounds, due to people not being able to spend during the lockdown period.

Stuart Broughton who also purchased in the Imperial resort has said “I had always considered purchasing a holiday home abroad, but with the Covid situation it has really pushed me not to wait any longer. When I came across the Imperial Resort Zoopla, I decided that with the extra savings I have accumulated while not being able to spend during Covid then it was the perfect time to start the process.”

So during a time when everything seems to have come to a halt and with economical insecurity at an all-time high, some people have found their hope for the future in faraway places.



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Disclaimer: We have conducted extensive research and possess over a decade of experience, having facilitated more than 1000 property sales in Hurghada to foreign buyers. However, circumstances evolve, and individual situations vary. Please note that these resources are intended solely for informational purposes to the best of our knowledge and should not be construed as professional legal or tax advice.