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EGYPT PROPERTY A GOOD INVESTMENT

Friday, 29 Aug 2008

As the value of the euro increases against the weakening pound sterling, investors are looking outside the Euro-zone for property investments. UK investors have found that property in the Euro-zone is becoming too expensive with the weakening pound. In addition, UK holidaymakers are less inclined to travel to countries inside the Euro-zone, due to the hefty expenses they now incur there. Therefore, potential investors who wish to buy property to be used as holiday accommodations are considering property in Egypt, as well as real estate in countries like the UAE, for future purchases at lower prices and that will be more popular with tourists seeking better value for their pounds.

Egypt is one of several destinations that are serviced by regular, inexpensive flights, and is within five hours of London, making it an increasingly popular destination for cash-strapped Brits. This makes property in Egypt an excellent investment. Sales and marketing director of Egyptian property developer West Side Village, Stephen Smith, said, "Investors would be wise to seek destinations outside the zone, where they will be more likely to afford quality investment properties in good locations, maximising their rental opportunities.”

According to Smith, the fact that UK property prices are falling makes this an ideal time to break into new markets overseas that are offering potential capital increases and large profits, such as property in Egypt. He recommends that potential investors should do their research thoroughly when it comes to currency exchange fluctuations, tourist numbers, tax laws and possible growth rates. He also feels that it’s a wise choice to find suitable Egypt property when looking for a good investment that will bring in a maximum rental return.

An Egypt accommodation investment comes highly recommended, since it fits so many excellent criteria for a top-class return, such as year-round sunny weather and 0% inheritance and capital gains taxes.