egypt property to be best performer in region
News Posted On: 09 June 2010
International bank Credit Suisse has said that Egyptian property stocks will outperform all other countries in the Middle East and North African Region (MENA) in the next 12 months.
The growth will come from “strong domestic housing demand recovery that should filter through developers’ sales figures this year, especially on the middle income segment,” Dubai- based analyst Ahmed Badr wrote in a report.
The Egyptian housing market remains a cash market that offers stable outlook for pricing compared to the Gulf, Badr wrote. The analyst expects “strong growth potential” in Cairo’s commercial property market, where occupancy rates remain at almost 100 percent, he wrote.
Egypt is also becoming known as one of the top residential markets in the world, with private investors flocking to the emerging Red Sea Riviera, to places like Hurghada and Sharm el Sheikh, where prices are low and rental demand high.
Properties in Hurghada can be purchased from as little as £10,000, and tourism to Hurghada is among the fastest growing in the world, having continued to grow even throughout the credit crunch. This combination leads to many developers offering guaranteed rental yields of 10% and more.
Much of the Red Sea Riviera is protected by the government as part of a nature reserve. This only adds to the investment potential because it will apply upward pressure on prices as demand continues to rise even when supply growth is forced to slow.
View property for sale in Egypt
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......