Published on 31 October 2005 at 05:34 pm
Filed under: Middle East:- Egypt Property Guides » Egypt Real Estate Investment Potential
Interest in the investment property market in Egypt is beginning to awaken as the wider world becomes aware of the incredible investment opportunities and incentives available for investors in Egypt.
The key factors attracting overseas investor interest include Egypt’s fast growing tourism sector, the fact that the government is continuing to commit to legislative initiatives designed to enhance the investment climate and the fact that property prices in Egypt remain low and affordable whilst demand for quality property for sale and short term let is increasing.
The majority of real estate investment interest is currently centred upon the resort areas of Egypt and the major cities like Cairo and Alexandria.
In the resort areas on the Red and Mediterranean Sea coasts property investors are tapping into the increasing tourist demand for short term rental accommodation; this market is currently returning the best rental yields countrywide.
The second home resale market in the resort areas is also beginning to present profit potential on the underlying capital investment made because more overseas buyers are seeking holiday homes or second homes in these areas. Egypt is close at hand for European holiday makers and therefore owning a holiday home in this exotic location makes perfect sense for many European travellers.
In Egypt’s main cities like Cairo and Alexandria overseas property investors are again seeking to profit from rental returns, and with the creation of brand new luxury residential property districts like Cairo Heights, international interest is increasing.
Overall the future prospects for the property market in Egypt are positive. Egypt is a politically stable country and one currently enjoying the best relationships with many of the world’s most influential economies that it has ever enjoyed. The economic climate in Egypt is open for investment and investors are being actively encouraged by taxation breaks, low labour costs and a country that has a growing middle class who are beginning to exercise their increased purchasing power.
Overseas real estate investors are aware that the growth in the purchasing power of the domestic market is fantastic for the long term profitability of all investments in Egypt’s property sector. The overseas tourism and second home markets will account for good yields and returns but a growth in domestic demand and purchasing power will allow investors to more aggressively target Egypt safe in the knowledge that they have a wider market to potentially profit from.
Middle East:- Egypt Property Reports
Complete listing of all current property reports for region: Middle East:- Egypt
