Invest In The Egyptian Property Market

Invest In The Egyptian Property Market

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Egypt is a dynamic country with indicators of its ancient culture ranging from the remarkable Pyramids and Sphinx to the historical city of Luxor. Egypt attracts visitors with its history and culture, famous River Nile tours and the charming beaches of the Red Sea. As levels of tourism rise and the government has instigated changes to procedures to promote foreign investment, property investors' confidence grows in Egypt's future potential and prospective high returns.

Some of the key elements to consider if interested in property investment in Egypt are discussed below.

Egypt is a country that can provide culture and history with safaris through the desert and high quality beach resorts. It takes under five hours to reach Egypt from Europe, a colourful destination for tourists and those seeking a holiday home. The country has seen a swift growth in tourism levels recently, aided by a higher frequency of flights and completion of many modern developments in the fashionable coastal areas. Egypt has a high standard of services and amenities to attract the foreigner, such as an up-to-date transport system and an established infrastructure. With its consistently good weather and a pleasant climate, it comes as no surprise that the country is one of the most popular destinations in which people are investing.

In comparison to property prices in Europe, Egypt's are very low and as the economy and levels of tourism demonstrate an improvement, property prices are expected to rise alongside. Property investors in Egypt should look forward to particularly high returns in the future and anyone interested in investing would be advised to not wait around for too long. Property prices have already shown an average increase of up to 30% over the past few years.

The Mediterranean and Red Sea coastal areas have experienced numerous extensive developments in recent years, with more planned in expectation of mounting demand for short term rental accommodation. Due to this development, various airlines now operate direct flights to and from the region making access to these areas easier than ever. Cairo, Luxor and Alexandria also are attracting interest from all corners of the globe as there is a strong buy-to-let market in these cities.

The Egyptian government is keen to develop the economy through foreign direct investment. Their aim to build up the economy and produce higher levels of employment and domestic wealth growth should eventually lead to Egypt becoming a popular choice with foreign investors. To achieve this, they have set up new procedures to customs, income and corporate taxations, privatized several sector industries and developed an export market for natural gas deposits.

In 2005, trends have shown Egypt's economic growth to be at 4.5%.

Egypt's future looks optimistic and now is the right time to invest for anyone considering buying property. The country is politically established and its economy thriving. The government is promoting property investment in the country with taxation breaks and low labour overheads. There is an up and coming new middle class' now to be found in Egypt who have more money at their disposal and a higher spending and purchasing power.

Tourism growth is leading to demand for short term rental accommodation and the rental yields are the highest they have ever been. As more overseas buyers are purchasing second and holiday homes, the second home resale market is displaying revenue potential on the underlying capital investment made. With property prices as low as they are, now would be the ideal time for investing in property in Egypt.

About the Author:
Mark Burns has extensive experience in the overseas investment property market, specializing in property in Egypt, and through the off plan world website provides extensive coverage on the world"'s major property investment markets including property in Egypt.



Article Originally Published On: http://www.articlesnatch.com


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