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Exotic Egypt…The Property Hotspot for 2007

Anyone who is thinking of venturing into the overseas real estate market should consider Egypt for medium term investment. There are many positive aspects to the property market in this North African country, it is a beautiful, ancient & exotic place, and its close proximity to Europe is a real plus.

The potential tourist market is massive, with easy access from most European countries, a new  found economic confidence, and excellent relationships with Western Governments. This combined with year-round sunshine on the Red Sea Riviera make it an exciting real estate proposition.

The key factors to Egypt’s growing overseas investment in property are:
· Fast growing tourism sector
· Government committed to reducing property related taxation costs
· Property prices still relatively low
· Demand for short term lets increasing

The highest rental incomes achievable for the real estate investor are along the tourist friendly Red Sea coastline. Apartments which are well located and facilitated are most in demand for short term lets, as well as having the highest rental yields.

Egypt also has a growing retirement market, which is attracting great attention and is another avenue for real estate investors to explore. Real estate investors can expect an immediate income and medium to long term growth on their investment, and the number of investors exploring the market is set to rise & rise.

The town of Hurghada, on Egypt’s Red Sea Riviera, is fast becoming a hot spot for holiday maker’s & investors. Hurghada, originally a small fishing village, has now developed into one of the foremost resorts on the Red Sea due to the excellent diving, value for money & the year round sunshine.

Stability in the economy is making the country more attractive to foreign investors. The government are committed to transforming the economy & promoting investment over the long term, with new reforms on taxation, privatisation of some sector industries and developing export markets for natural gas, to name a few.

Egypt is a politically stable country with excellent relationships with many of the world’s most influential economies. The economic climate is open for investment, which is actively encouraged, and those buying now are set to profit substantially. The tourism sector is growing fast with over 250,000 visitors to the Red Sea Riviera each year, prices are low and affordable, and there is demand for short-term lets & second homes.

With 12 months sunshine along 900km of coral-reefed beaches, and regular flights throughout the year from most UK airports, Egypt has great potential to offer an excellent return on your investment.


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