The official said preliminary investigations revealed the two Swiss citizens, a man and his wife, were killed by the house's guard and two of his friends who wanted to rob the couple.
He did not reveal the identity of the two killed, but said the couple had been living in Hurghada for a while and went missing a week ago.
The corpses were transferred to Hurghada's general hospital. A local official at the hospital told AFP "the two corpses arrived at the morgue in a complete state of putrescence".
Earlier on Friday, the Swiss foreign ministry confirmed the death of two Swiss citizens in Egypt, which had been reported by the Swiss German television news programme 10vor10 on Thursday night.
The Blick tabloid said the couple were both aged 64.
Located on Egypt's eastern coast, the resort city of Hurghada is a prime tourist destination.
It has been so far spared the turmoil and violence following the popular uprising that toppled longtime autocrat Hosni Mubarak in 2011.