property in egypt an overview
News Posted On: 06 March 2009
Egypt marvels at its historical significance in shaping the destinys of modern countries. With natural wonders, like The Pyramids, as its jewel in the Egyptian crown, the country basks in the glory of the world's longest river The Nile.
With historic architectural marvels in the country inspiring the modern architects and designers from all over the world, the Egyptian real estate market is destined for massive growth.
Though a Muslim country, this North African nation is more advanced than most of the traditional Muslim countries, and it is this contemporary modern outlook of the nation that attracts property investors from all nationalities and international business houses as well as individuals investors.
Buying Property in Egypt
For quite some time now, Egypt has struggled to find its feet in the vast global real estate market. This has been largely due to lax governments in the countries recent past that failed to realize the tourism potential of the country, nor did they pay attention to developing the investment friendly infrastructure of the country. But things are changing for the better thanks to the recent government initiatives aimed at attracting maximum tourism exposure for the country.
To this end, peace and political stability are the biggest platform from which the Egyptian government plans to launch an aggressive marketing campaign to lure serious real estate and property investments in the country. Egypt has largely remained unaffected by the influence of Islamic fundamentalism that have caused problems for many of the beautiful Islamic countries throughout the Asian continent and now is enjoying a steady increase in its economic development.
In order to reap maximum benefit from the changed global order, the Egyptian government has chosen the path of development through friendly relations with developed countries, like America and the UK. This has resulted in large scale investment queries from several European countries. The Brits particularly like the metropolitan lifestyle of certain cities, like the capital city of Cairo, and the similar culture and traditions due to the country's close proximity to Europe.
The government has also relaxed several rules governing the ownership of real estate and property by foreigners in the country. This has attracted the interest of global real estate players like Dubai's EMAAR and DAMAC groups that are developing major residential townships in the cities of Cairo, Hurghada, and the Gamsha Bay. These townships are expected to bring in lots of investment to the region from every segment of investor. Primarily residential townships, the commercial and industrial aspect from the rising demand cannot be ignored. Thus, there's room for every investor in Egypt!
In addition, the government is also working towards making Egypt one of the top tourist destinations in the world by 2011. The all-round efforts by the government are visible from the collaboration of Egyptian government with the World Travel and Tourism Council (WTTC).
The best places to invest in Egypt include the coastal resort towns of Alexandria, El Alamein, Ain Soukhna, Sharm el Sheikh, El Gouna, Safaga, and Marsa Alam. You can also look forward to owning 5-star luxury apartments at Hurghada for anywhere between £15K to £25K.
Why Invest in Property in Egypt?
Besides the above-stated factors, there are many other reasons for a property investor to seriously consider investment property in the land of Pyramids-
- The Mediterranean Sea and Red Sea assure that the coastal lifestyle in Egypt is never short of thrill and adventure. Miles of pristine beaches assure that the place is always bubbling with tourists. Red Sea Riviera represents hundreds of miles of unspoilt desert coastline dotted with a few upmarket resorts. And resultantly, the rental income from resort property is too lucrative for any investor to ignore.
- The economy of Egypt is on the upswing thanks to the sustained government efforts. This stability and growth creates a feel-good factor about the country's overall growth potential that drives the real estate investment in Egypt.
- The country's climate has everything to lure any would be investor who is looking for a positive return on their investment or a relaxed retired lifestyle enjoying sun during most part of the year.
- If you are looking for a business investment property in Egypt, there's good news! The government is placing immense importance to the Foreign Direct Investment (FDI) and has elaborate plans in place to welcome offshore business houses looking to take advantage of lower standards of taxation in Egypt.
- The proximity to Europe ensures cheap regular flights to and from the country to the major European capitals and other international cities.
- The country has some of the best hotel chains in the region. The hospitality of Egypt is also one of the highlights for potential investors in the country.
- Egypt has no dearth of luxury villas and mansions, if that is what you are looking for. In fact, if you can afford, these luxury properties then it is certainly worth consideration as the can be secured for a comparatively low cost of investment. And considering the high earning potential of property in Egypt, your investment is sure to give maximum return whenever you decide to sell the property.
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......