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EGYPT PROPERTY A FIRST-RATE INVESTMENT IN 2009

Friday, 09 Jan 2009

In 2008, the financial markets took some dramatic downturns with currency and stock market crashes, which has brought about a lack of stability in many countries’ economies as the essential foundations that these institutions rely on were weakened. There are still some parts of the world, however, where property markets continue to enjoy a good outlook this year. One of these is Egypt property, which has made headlines in 2009 with its excellent potential as an investment market.

Experience International’s MD, Steve Worboys, says that in Egypt, the WTTC has predicted yearly gains of as much as 7 percent for the next 10 years in light of the extensive investment that the country’s tourist market is currently experiencing. This is good news for potential investors looking to buy property in Egypt, and a report in Homes Overseas magazine states that the constructive tax laws are one reason why Egypt property is attracting investors.

The Jones Lang LaSalle Global Real Estate Transparency Index rates Egypt amongst the top 10 most augmented nations in the world, and an especially attractive development for investors is the Oasis Marina in Hurghada. This Egypt property is situated on the Red Sea coast, and has a private beach with top-notch amenities, including a spa and children’s club, as well as a selection of swimming pools and marine sports centres. The project is based on apartments, which makes it perfect for fly-to-let buyers looking for something affordable, with starting prices of only £35,873.

A Canvey Island accountant, Andy Parkin, has invested his inheritance in the Oasis Marina project, and benefitted not only from a considerable discount because he purchased the Egypt accommodation for cash, but in addition, he used the Experience International investment team, which managed to negotiate a 5 year assured rental return for him, plus he is able to use of the property for 12 weeks of the year.