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Investors Could Get Bargain In Egypt

News Posted On: 11 August 2008

Foreign property investors may be able to acquire a relative bargain in Egypt, industry experts have stated.

According to Amberlamb, the African nation currently offers much lower house prices than many other investment hotspots.

For example, a home in the holiday resort of Sharm el-Sheikh was said to cost just £120,000.

Andrew Williamson, spokesperson for Amberlamb, commented: "Properties are highly affordable."

He added that the country also offers a number of other attractions to foreign buyers, as attractive scenery and easy access from Europe.

"The flight time is a very respectable five hours," Mr Williamson commented.

He added that the Red Sea coastline is one of the most popular parts of Egypt, along with resorts by the Mediterranean.

This comes after Al-Ahram Weekly reported that growing levels of interest among foreign buyers is leading to a surge in house prices across the country.

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