WILL PROPERTY IN EGYPT CONTINUE TO BE A GOOD INVESTMENT?
Thursday, 04 Sep 2008
Due to the fact that the Egypt property market has managed to avoid the hype that has been inflating property prices in places like Bulgaria or Dubai, it may be the only place where investors can enjoy a good return on their investment. In addition, foreign retirement home or holiday apartment buyers are still able to find property in Egypt for a far more reasonable price, a bargain when compared to other countries. Only since 2005 has Egypt even been considered as an investment destination for overseas buyers, and this has contributed to its avoiding the drastic downturns seen in some other property markets.
Egypt has many factors in its favour, and although it is not the first place that springs to mind when investors start looking for a good buy overseas, it is within a reasonable flying time from UK and Europe, and boasts many natural attractions, not least of which are the pyramids. A property in Egypt has much to offer, and the country is far more diverse in its landscapes than Dubai, which has nothing beyond its city limits except sand. In Egypt, there are the Mediterranean holiday resorts like El Alamein and Alexandria and the lovely Red Sea venues such as Mangroovy Beach and El Gourna.
When compared to the property markets in several other countries, the price of accommodation in Egypt has remained stable and affordable, and investments there are expected to see an annual capital growth in the region of 20%. There is also no tax or stamp duty on an Egypt property, which increases its appeal to investors and potential return on investment considerably. It is one of the few places left in the world where a beachfront property can still be bought for a little more than £30,000.
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