Egypt, Home of the Pharaohs, is a country with over 4000 years of history, and has been a popular tourist destination for over 100 years, but Egypt is growing and changing; with positive effect.
Aritcle by Jennette Bradbury of Egyptian Experience.
Since the election in June, the property market has already begun to show signs of improvement, with real estate companies recording higher sales and buyers steadily returning to the market after a fairly stagnant 18 months.
The current demand for housing is outpacing supply due to a growing population and this is helping to sustain Egypt’s property market. An average of 440,000 new properties are being constructed each year to meet existing demand. Add to this a surge of foreign investors in numerous sectors and industries, all keen to take advantage of the strengthening economy.
Egypt has, over the past 5 years, attracted substantial numbers of overseas investors, buying homes in Egypt either as a lifestyle change or a second home. Over the past few months there has been renewed interest in buying from the European, Russian and the British markets, and investor confidence, tourism and foreign direct investment is increasing daily.
There is now a lot of optimism and good hope for the future of Egypt, with a population that’s young and has the energy to move Egypt forward both economically and politically.
There is a strategic plan to increase tourism to 20 million by 2015. With sun all the year round, only 4 and half hours flying time from the UK, Egypt still has a lot to offer the British investor. Quality resorts to invest in, easy purchase procedures and excellent prices mean that plenty of people are choosing to not just to enjoy the sun, sea and sand but to invest in it too!
Egyptian Experience are well established builders and developers in Egypt with a track record of finishing quality apartments on time complete with swimming pools and landscaped gardens. They have won a variety of awards for developments in Sharm El Sheikh and Hurghada. Egyptian Experience received the CNBC award for The Best Development in Egypt at a prestigious dinner in Dubai. They have also won the CNBC award for the Best Estate agent in Egypt and the Business Britain award for the “African Property Specialist of the Year 2007” and previously with Business Britain Best emerging market consultant 2006.
Egyptian Experience has 1 bedroom apartments in Sharm el Sheikh on the Red Sea from £31,250, and apartments in the first resort in Luxor, with a private promenade and superb panoramic views from only £165,000.
Contact Egyptian Experience to discuss how you can take advantage of the growing Egyptian property market.
The views and comments herein are those of the author and do not necessarily reflect the views or opinions of Rightmove Overseas, it parent company or affiliates.