Egypt has grabbed the attention of property investors predominantly due to its steady economic growth and easy-living lifestyle. 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 a promising property market, Egypt has already demonstrated strong returns for those who invested early, depending on the area some have reached 20-30% per year. In acknowledgement of this, the pro-foreign investment Egyptian government have stepped up its marketing initiatives, and have committed themselves to a far reaching infrastructure development programme. The focus of this arrival of overseas property investment in Egypt has predominantly been around the popular Red Sea coastal resorts, as well the major cities such as Cairo, Alexandria and Luxor. Various construction initiatives are underway or have already been completed in the coastal resort regions. Here increasing tourist figures have resulted in large increases in demand for property in Hurghada, Sharm El Sheikh, El Gouna and Marsa Alam. So why has Egypt increased in popularity such much in the past few years? Mainly, people come here for its exotic and captivating culture and traditions, yet the country also manages to provide modern amenities. From most European cities and the UK, Egypt can be reached in less than 5 hours, amenities are modern, and transport facilities, including the airports as well as getting around the country itself, are already at a high standard. As well as this, the warm climate, great beaches and coastline, and wide range of activities are on offer throughout this intoxicating country. 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. Egypt is reliant upon the tourist industry, as more visitors discover what this country has to offer then things can only get better. In particular, property prices remain low in comparison to other European property hotspots such as Italy and Spain. These low prices, coupled with the increasing prices of other major European holiday destinations due to currency fluctuations, have ensured that an increasing number of overseas tourists will be travelling to Egypt in the months to come. As Egypt receives more visitors each year, the demand for high generating short term holiday rentals increases and as the Egyptian climate is good all year round there is the opportunity for year round holiday rental. Low-cost airlines have already set up flights to the Mediterranean and Red Sea resorts, reducing travel time and costs. 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 encouraging, for people considering of investing in property here this is the best time to make a move as the economy is steady. The government is promoting the country to overseas investors by offering tax breaks and an uncomplicated purchasing process. The costs of labour in Egypt are low, the standard of living economical and tourism levels are on the increase. Long-established home buying destinations such as 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. Most of the resorts offer first-class facilities and with the number of tourists arriving in the country throughout the year needing accommodation there is potential for high rental returns. The future of the country looks positive and investing in Egypt property is a wise decision that is sure to bring its rewards.
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