AFFORDABLE HOUSES AVAILABLE IN EGYPT
Tuesday, 02 Sep 2008
For foreign investors who may be looking for a good overseas investment, considering a property in Egypt could be a very profitable idea to contemplate. According to analysts from Amberlamb, Egypt offers lower property prices than most emerging markets, and is therefore better value for money. Overseas property investors can purchase a house in Sharm el-Sheikh for a very reasonable price, even as low as £120,000. Analysts have touted the Egypt market, relatively untapped by foreign investors, as a “highly affordable” market.
According to Andrew Williamson, Amberlamb’s spokesperson, this is in part due to the lack of publicity in the media that property in Egypt has received, compared to alternative investment markets such as Dubai, Abu Dhabi or other UAE countries. More media attention could spark a wave of interest in Egypt property and push up house prices there, however. Mr Williamson said, "Egypt has significant advantages for many would-be property owners. Properties are highly affordable [and] the flight time is a very respectable five hours."
In recent times, Egypt property has been attracting growing interest from those investors seeking to buy a second home, a holiday home or holiday rental accommodation in Egypt. More people buying houses and land there will affect the price of houses in Egypt and fuel growth in this as yet little-known market.
This makes it an even more attractive option for foreign investors looking for a quick profit on property, who, if they buy now at the reasonable prices on offer, may very well sell within a few months at a substantial profit, due to the increase of property prices once the market becomes better known. This is leading to a growing interest in Egypt as an investment destination, with its potential for a major property boom in the near future.
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