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EGYPT’S AFFORDABILITY INTRIGUES INTERNATIONAL INVESTORS

Tuesday, 24 Jun 2008


Egypt has been flagged up as potentially one of the best options for property investors this year.

Egypt’s affordability intrigues international investors BuyAssociation listed the country as one of its top ten places to look at during 2008, as it offered benefits such as a growing tourist trade and good climate.

The website stated that Egypt was becoming one of the world's most popular winter sun destinations, as the weather was guaranteed to be good all year round.

In addition, it said the country also offered attractions such as culture, historical sites and modern leisure facilities.

Paul Collins, overseas property editor at BuyAssociation, commented: "Owning a holiday home is more and more the norm for the general public."

He added that this was due to a combination of factors, such as the decline of the traditional package holiday and the growth of low-cost airlines.

This comes after research by Datamonitor identified Egypt as one of the most popular emerging property markets with younger investors.

The possibility of snapping up a bargain property is drawing many foreign investors to Egypt, an expert has stated.

Paul Collins, spokesperson for the BuyAssociation website, stated that the country was very popular because of the relative affordability of high-quality houses.

Commenting on the Egyptian market, he said: "Property is very, very cheap in comparison with other places where you have similar facilities and similar climates."

He added that the country's weather was also a strong draw for overseas investors, as they were "virtually guaranteed" to get hot and sunny conditions when visiting.

In addition, he said Egypt had a number of attractions that made it popular with holidaymakers, opening up the possibility of letting a property out to tourists.

Mr. Collins cited the diving that takes place in the reef near Sharm El Sheikh as an example, along with the new golf courses in the region.

Meanwhile, tourists in Egypt are currently enjoying the opportunity to view the face of the country's former ruler King Tutankhamun.

The mummified pharaoh has been placed on public display for the first time, exactly 85 years after it was first discovered.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.


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