Egypt Properties-Property in Egypt

Property in Egypt

Property in Egypt

The Arab Republic of Egypt is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Western Asia. Egypt is bordered by the Mediterranean Sea to the north, the Gaza Strip and Israel to the northeast, the Red Sea to the east, Sudan to the south and Libya to the west.

Egypt is famous for its ancient civilization and some of the world’s most famous monuments, including the Giza pyramid complex and its Great Sphinx. The southern city of Luxor contains numerous ancient artifacts, such as the Karnak Temple and the Valley of the Kings. Egypt is widely regarded as an important political and cultural nation of the Middle East.

Egypt possesses one of the most developed economies in the Middle East, with sectors such as tourism, agriculture, industry and service at almost equal rates in national production. Consequently, the Egyptian economy is rapidly developing, due in part to legislation aimed at luring investments, coupled with both internal and political stability, along with recent trade and market liberalization.

Today, investors seek the stability and simplicity of the property market to gain good returns on investment. Under-performing stock markets are often proving more volatile than property and this is especially true for the non-professional as there are many external factors that can effect your financial investment. Did you know that 50% of the members of The Times Rich List made their money through investing in property?

The benefit of buying property specifically for investment purposes is the removal of emotion from your purchase while property is used purely as an investment vehicle. Investment property in Egypt offers many possibilities in the form of re-assignable off-plan contract options to sell at a substantial profit prior to completion, or “buy-to-let” situations to generate reliable rental income and eventually substantial capital appreciation.

The most popular and beneficial resorts to buy property in Egypt are:
•    Hadaba
•    Naama bay
•    Nabq bay
•    Sharks bay
•    Tower bay

Main Reasons Why Property in Egypt is a Desirable Investment Location:
•    Low property prices starting at around only £30k.
•    Steady year-on-year capital appreciation of between 20-30%.
•    Beautiful, well established tourist hotspots suitable for varied tourist interests, from excellent diving and snorkeling to cultural and historical locations.
•    Stunning natural, un spoilt landscapes.
•    Steady annual growth in tourist figures.
•    Less property taxes than paid in the UK.
•    No capital gains tax.
•    British residents avoid inheritance tax on any property in Egypt.
•    Foreign investors are regarded by the government as a big investment opportunity and laws have recently streamlined procedures, making the purchase procedure easy.
•    Strong economic growth and increased investment in infrastructure are boosting the property investment market as a whole.
•    Warm desert climate with temperatures ranging from 14°C in winter to 30°C in summer creating a year-round tourist season.
•    Politically stable country.
•    Increased inward investment, creating a rich investment climate.
•    Well renowned developers are creating luxury resorts to cater for Egypt’s new influx of international tourists.
•    Easy air access from many European destinations makes Egypt an ever popular medium haul holiday location.
•    Cairo International airport is being modernized and a new terminal is to be built by early 2007.
•    Low cost of living and maintenance costs.
•    English is widely spoken, after Arabic.

Whilst many overseas property markets typically buoyed by overseas investment such as Spain and Dubai have been hard hit by the world recession property sales in Egypt from overseas investors remains relatively strong, in part because of the accommodating Egyptian property laws. Infact Egypt is one of the strongest places in the world to invest in currently and is forcasted to rise above inflation once the recession peaks!

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