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Property & Real Estate Investment in Egypt
The main reasons Egypt is so popular with property investors are its stable economy and comfortable standard of living. At present the price of property in Egypt is still within the means of many buyers, however as prospective investors realize the countries potential these prices are anticipated to grow rapidly.
Seen as an emerging property market, Egypt has already demonstrated strong returns for those who invested early, some have reached 20-30% per year depending on the area. The government has stepped up its promotion of the country and is dedicated to modernizing Egypt’s communications and transportation networks in preparation for the arrival of visitors to the country.
The popular Red Sea coastal resorts and main cities of Cairo, Luxor and Alexandria have received the main attention from overseas property investors. Various development projects are underway or have already been completed in the coastal resort regions. Due to this there has been an increase in tourism leading to a significant boost in demand for property in Hurghada, Sharm El Sheikh, El Gouna and Marsa Alam.
What has caused Egypt to become more popular during the last few years? Generally, people are drawn here for its interesting and exotic culture and traditions, yet it also manages to be modern in its provision of amenities. Egypt has the advantage of being just a short flight away from most major European cities, it can offer the ideal climate, has a stunning coastline and a broad range of activities and sights. Currently the country has a healthy economy and the government is energetic in its promotion of the country to tourists and visitors, these are just some of the basic ingredients needed for investors looking for long term returns from property in Egypt.
As Egypt receives more visitors each year, the demand for high generating short term holiday rentals increases and with a year round warm climate the continual holiday rental is also positive. Budget airlines have already organized flights to the Mediterranean and Red Sea resorts, minimizing the time the journey takes and the cost. There are regular flights operated by British Airways and Egypt Air between Heathrow and Cairo International Airport where a connecting internal flight can then be taken to the coastal resorts of Sharm el Sheikh, Marsa Alam, Hurghada and Taba.
Over the long term, investment opportunities for Egypt real estate are positive, for anyone thinking of investing in property here this is the best time to do something about it as the economy is steady. The Egyptian government is busy marketing the country to overseas investors through tax breaks and a simplified purchasing procedure. The costs of labor in Egypt are low, the standard of living economical and tourism levels are on the increase.
Spain and Turkey have been the leading destinations for property investment for many years, however that is changing as Egypt emerges as a promising destination for investment purposes. As Egyptian resorts continue to provide first rate amenities and the number of visitor’s increases the potential for rental returns is high.
About the Author
Michiel Van Kets provides article services for Mark Burns who has extensive experience in the overseas investment property market, specializing in property and real estate and through the Offplanworld.tv website provides extensive coverage on the worlds major property investment markets including property in Egypt & Egypt real estate. For information or advice concerning Egypt and the Hurghada property market, visit Offplanworld.tv.
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