Egypt Property To Be Hot Seller In 2010 For Host Of Reasons
News Posted On: 02 February 2010
Egypt is going to be one of the hottest property markets in the world this year according to experts on the ground. Estate agents in the county, those catering for the foreign market that is a reporting a massive flurry of activity, but also, more importantly of sales since the first day of the new year proper, in fact one agent has reported properties selling at the rate of 1 per day.
Egypt property is so popular because of a combination of the low prices, made lower by its weak currency and the country's massive economic growth fuelled predominantly by massive growth in tourism and the wider services sector.
Egypt also benefits from the fact that it is a young market, born out of the budget-flights-fuelled property and tourism booms. This means that the resorts being built to accommodate the massive growth in tourism, are taking advantage of overseas property demand, which benefits the developers but also the property buyers, who gain higher yields from the professional management.
This is why so many properties for sale in Egypt, especially in the emerging markets of Sharm El Sheikh and Hurghada on the Red Sea coast come with guaranteed rental yields ranging from 8%-10% and for periods ranging from the first 2 years, to the first 5 years.
These emerging regions have also become home to a series of apartment-hotel investment products, which are a proven success story in the world of private property investment and holiday home investment.
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