El Gouna Property — Your Complete Guide to Buying in the Venice of the Red Sea
El Gouna is one of Egypt's most remarkable property markets — a completely self-contained lagoon city with its own airport, international school, and marina. This comprehensive guide covers everything buyers need to know.
What Makes El Gouna Special?
El Gouna was built from scratch in the 1990s by the Orascom Group on a series of Red Sea islands and lagoons 22km north of Hurghada. It functions entirely as a self-sufficient private community — all utilities, roads, and facilities are privately maintained. The result is a quality of infrastructure that rivals European resort towns, with a consistently high standard maintained over 30 years.
El Gouna Property Market Overview
El Gouna has one of the most established and liquid property markets in Egypt. Properties are bought and sold regularly, there is a functioning resale market, and prices have been transparent for over two decades. Unlike some Hurghada areas, El Gouna has a genuine long-term community of permanent and semi-permanent residents — not just holiday makers.
Property Types and Prices
Studios: £50,000–£80,000. One-bedroom apartments: £70,000–£140,000. Two-bedroom apartments: £110,000–£250,000. Villas: £200,000–£600,000+. Prices vary significantly based on whether the property has lagoon views, is in a serviced resort compound, or is in a residential neighbourhood.
The Expat Community
El Gouna has a large and well-established European expat community — particularly German, British, Swiss, and Scandinavian. Many have lived here permanently for 10–20 years. This creates strong demand for long-term rentals (6–12 month leases) from incoming expats, providing stable year-round income alongside the tourist short-let market.
Buying in El Gouna — Service Charges
El Gouna has a community service charge covering roads, utilities, and security maintenance. This is typically 1–3% of property value annually — significantly lower than comparable resort communities in Europe but worth factoring into yield calculations.
Frequently Asked Questions
Can foreigners own freehold property in El Gouna?+
What are rental yields like in El Gouna?+
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