The Reasons to Buy Real Estate in Egypt
If you want to invest in real estate and someone suggest Egypt as the likely place, how will you react? No doubt as a tourist interest Egypt gives you a glimpse of a 7,000 years old history, with innumerable historical sites, beautiful beaches, and a perfect climatic condition the year round. Extremely perfect setting for a few days of fun and frolic; but invest in real estate? No way.
In fact, besides tourist interest, other factors that can interest you in Egypt property are all present. Like, for example, direct foreign investment level has been rising steadily over the years and Egypt has established itself as a real estate market.
The turmoil in Egypt has ended and now it is considered very stable politically. The country is favored towards western countries and this makes it a perfect setting for investment in real estate. Moreover the economic situation is also improving every subsequent year. The GDP growth rate is going high every year which assures you of a strong and stable economy.
When the economy is strong, you can expect the buying power of the common man to increase. When purchasing power of the people increases, you can expect the price of real estate to get a boost and as a result you can expect your investment in real estate to add value over time.
Apart from the above fundamentals that can give investors confidence to invest in Egypt, you can think things from the point of view of travel and tourism. May be you can leverage the tourism factor into your investment to get the best out of it.
According to the World Travel and Tourism Council, Egypt had done around 21.4 billion USD worth of business through tourism in the year 2007 alone. Over and above this the tourism is going to hit a 8 percent growth this year; and the prediction till 2017 is that the tourism industry is going to have a growth of six and half percent on an average every year.
As can been seen the demand for accommodation is expected to rise dramatically and if any one can invest in real estate that is located in a convenient area, can expect to use the place to good advantage. The other advantage is that Egypt is now accessible cheaply through cheap air lines that are boosting the flow of tourists to Egypt from Europe and UK.
If you want more proof, then look closer. The Egyptian government has made it safe for foreigners to invest in Egypt. Another point that will make you happy is that there are no capital gains or inheritance taxes in Egypt. Do you need to think of anything more?