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Property And Real Estate In Egypt
By Mark Burns
Egypt is a lively and exciting land with signs of its ancient civilisation scattered throughout the country, from the breathtaking Pyramids and Sphinx to the ancient city of Luxor. Egypt attracts visitors with its history and culture, famous River Nile tours and the charming beaches of the Red Sea. With tourism levels growing each year and governmental changes in regulations to promote overseas investment, international property investors’ are recognizing Egypt’s growing potential and prospective high returns.

Below are some of the main factors to consider if interested in property investment in Egypt.

Egypt is a popular destination that offers cultural activities and desert safaris and of course top class beach resorts. From Europe you can reach Egypt under five hours flight time, a vibrant destination for tourists and those seeking a holiday home. With first-rate amenities and a modern transport system and infrastructure already in place, Egypt has experienced a rapid growth in tourism levels in recent years. Egypt has a high standard of services and amenities to attract the foreigner, such as an up-to-date transport system and an established infrastructure. Egypt’s record of stable sunshine and warm desert climate is also a major factor to that Egypt is becoming one of the best property investment choices today.

Property prices

in Egypt are currently on a very level in comparison to other European destinations. As both the economy and tourism levels show signs of improvement, predictions are that Egypt’s property prices will rise in the near future. Property investors in Egypt should look forward to particularly high returns in the future and anyone interested in investing would be advised to not wait around for too long. Property prices have already shown an average increase of up to 30% over the past few years.

The Mediterranean and Red Sea coastal areas have seen many extensive developments in recent years and more is undergoing due to the rising demand for short term rental accommodation. A number of airlines now operate direct routes to these regions. For investors the tourist sector is a highly profitable market. Cairo, Luxor and Alexandria also are attracting interest from all corners of the globe as there is a strong buy-to-let market in these cities.

The Egyptian government are eager to help develop the country’s economy through foreign direct investment. Extra incentives for property investors include a simplified tax system with no inheritance or capital gains tax for foreigners. The Egyptian government is determined to improve its economy through the promotion of foreign direct investment over the long term. To achieve this, they have set up new procedures to customs, income and corporate taxations, privatized several sector industries and developed an export market for natural gas deposits.

The trends for the last years have shown Egypt’s economic growth to be at 4.5%.

Egypt’s future looks optimistic and now is the right time to invest for anyone considering buying property. The country is politically stable and the economic climate healthy and secure. The government is encouraging property investment in the country with taxation breaks and low labour overheads. Further to that, Egypt has a new middle class emerging who have an increased purchasing power.

Short term rental accommodation is in strong demand due to tourism growth and the property market is seeing higher rental yields in Egypt than ever seen before. As more overseas buyers are purchasing second and holiday homes, the second home resale market is seeing revenue potential on the underlying capital investment made. With infrastructure already in place and property prices low now is the perfect time to purchase property in Egypt.
Mark Burns has extensive experience in the overseas investment property market, specializing in property in Egypt, and through the off plan world website provides extensive coverage on the world’s major property investment markets including Egypt property.

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