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SLIDING GLOBAL MARKET TO AFFECT PROPERTIES IN EGYPT?

Wednesday, 13 Aug 2008

It seems that most property markets, irrespective of the country or region, are receiving plenty of bad press lately. However, property in Egypt seems to be exempt from this negative publicity and anyone wishing to invest in overseas properties is advised to consider Egypt as it has become incredibly popular with regards to both investment opportunities as well as to tourists or those looking to retire, and property values are very reasonable compared to those in other countries.

Most international property markets, such those in Bulgaria or Dubai, have been very much in the public eye with regards to investment opportunities, but properties in Egypt have remained low-profile up until about two years ago, despite the large number of travellers seeking accommodation in Egypt. Taking into consideration that Egypt does not seem to be badly affected by the downward progression of the global market, some industry experts think that perhaps there has been good reason for Egypt avoiding the news in the past.

There is good reason, however, for properties in Egypt to continue to be highly sought after despite the global trend, and perhaps this trend is the reason for Egypt’s popularity in recent years. Egypt has a spectacular amount of natural splendor, and travellers will only take a mere five hours to arrive in Egypt, if flying from the United Kingdom, which is a considerably short flight considering the amount of time it takes to reach other popular destinations. From the Red Sea resorts to the Mediterranean resorts and more, there is so much to enjoy in Egypt that travelling from region to region can be likened to travelling to a different country.

More importantly, properties in Egypt are affordably priced and especially perfect for UK investors’ pockets. In some regions of the country beachfront apartments can be bought for a mere £30,000 – an amount for which investors can still expect to see a capital growth of at least 20% per year.