egypt one of most attractive destinations for real estate investors
News Posted On: 26 November 2009
Egypt is one of the "most attractive destinations for real estate investors in 2009," said experts at a recent conference in Cairo.
The panel of 19 experts said that Egypt's relatively young mortgage market left it shielded from the banking crisis because its lending policies are still restrictive. The US crash they said, was because mortgage LTVs were upped from 70% to 110%.
I agree that Egypt is one of the brightest stars in international property investment. Prices are currently among the lowest in the world, and the economy growing among the fastest in the world. Even now as we struggle to climb out of the worst global recession in between 30 and 50 years, Egypt's economy is forecast to grow by over 4% this year, according to the International Monetary Fund.
This economic growth will certainly generate rising affluence in the country, and a growing middle class much like we have seen across Asia. A growing middle class equates to growing demand for residential property to buy and to rent, which will put upward pressure on prices and rental rates in the coming years.
However, tourism to Egypt is also rising at a rapid rate, especially on the red sea coast, where property can be bought for as little as £10k. This also makes Egypt property perfect for holiday let investors, who may or may not want to use the property for their own holidays. The low prices make red sea Riviera property in Egypt the kind of investment that everyone can afford to make -- less people can afford not to.
View property for sale in Egypt
Written by Liam Bailey
Back to news articles for this country
Latest Related News Articles in Egypt
Political Reforms in Egypt Leading to Improved Investor Attitudes
2011-03-31
It's expected that the political reforms in Egypt should lead to the country being in a much stronge.....
Egypt Property Continues to Hot Up
2010-12-21
The story of one of the hottest emerging markets of the post-crash world continues to show positive .....
Egypt Property to be Boosted by New Mortgage Procedures
2010-12-14
Authorities are in the process of simplifying mortgage rules in order to make more mortgages availab.....
HSBC Egypt Launches Platinum Visa
2010-11-22
Launch of platinum visa in Egypt is testament to the country's rapid financial development.....
Egypt Property Second in JLL Investment Hotspots
2010-09-27
Jobes Lang La Salle have said that Egypt is second in the world in terms of investor confidence and .....
Egypt Property One to Watch in Booming Middle East
2010-07-27
The Middle East is very much a growth spot in terms of construction and property. Within that, Egypt.....
Egypt Property to be Best Performer in Region
2010-06-09
Credit Suisse has said that Egyptian property stocks will outperform those of other countries in the.....
Egyptian Tourism Growth Continues to Boost Property Market
2010-04-26
Several developments in accessibility testify to the massive potential for growth in Egyptian touris.....
Air Arabia Testifies to Egyptian Tourist Growth Potential
2010-03-23
The creation of a new Egyptian hub by Middle Eastern low cost carrier Air Arabia is a testament to t.....
Egypt to be Property Investment Hotspot for Foreseeable
2010-03-03
For a number of reasons Egypt property is becoming the perfect investment package......