MAINTAINED BUOYANCY FOR EGYPTIAN PROPERTY MARKET
Friday, 26 Sep 2008
An international property investment firm, New Smart Homes, has declared that property in Egypt is still an extremely attractive holiday destination, offering not only good property rates but also a beautiful holiday or business destination, and is still perfect for investors wanting to invest in any accommodation in Egypt, despite the recent inflation problems.
The chief executive officer for Homes Go Fast, Nick Marr, says that opportunities for investing in property in Egypt are still very good, because of the extreme low level of entry prices for property in the region. Marr says, “Property in Egypt can be acquired with little or no financing.” He then went on to say that Egypt has passed the worst part of its inflation crisis and that the inflation issues were mostly due to the high food prices.
Marr also said that there are quite a large number of things influencing Egypt’s currently increased popularity as a business and leisure destination. One of the main things influencing Egypt as an excellent travel destination is the fact that places such as Luxor, Hurghada and Alexandria are incredibly easy to gain access to, along with the fact that these areas are accessible with airlines that charge much cheaper rates than most.
Another major factor playing a part in the country’s popularity as a travel destination is the fact that the current infrastructure of the country is already excellent as Egypt has been a tourism destination for so long that the country has had plenty of time to put the required infrastructure in place, and this does not still need to be accomplished. The World Travel and Tourism Council stated that tourists wanting to spend time staying on Egypt properties should increase by 5.4% within the next ten years.
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