egypt to be property investment hotspot for foreseeable
News Posted On: 03 March 2010
A shortage of supply is forecast to increase the prices of Egypt property by 6% per year between now and 2014-15 according to a new research report.
The report by investment consultancy Markaz says that a lack of mid-priced housing in the country would likely drive up prices, with income growth fuelling the demand for such property.
The report follows a similarly positive report by Jones Lang la Salle which said Cairo property was benefiting from its location, population and income growth as well as a shortage in supply.
Egypt is attracting increasing attention from private property investors, real estate investment Trusts, other funds, and even nation's because it has continued to see strong economic growth even during the downturn.
This week China is in talks with Egypt about its building the first Egyptian equivalent to the much-successful Asian Special Economic Zone. Turkey's Foreign Minister Ahmet Davutoglu is leaving for Egypt tomorrow to discuss increasing the two nations' economic cooperation.
Egypt is almost certainly one of the great overseas property investment hotspots for the next few years: property prices are among the lowest in the world, population growth among the fastest, solid income growth, and rapid economic growth are a package too perfect not to be afforded at least more than a passing glance by anyone planning to invest overseas.
Egyptian property is available from as little as £10,000 for a studio apartment, and £30,000 for a 2 bedroom apartment in the Red Sea Coast regions.
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