Article courtesy of n/a
As published by PropertySelect
Date: 30th April 2008

There is a general consensus that investors consider property in Egypt, as an investment option, thanks to a “strong market in terms of excellent long term potential.”

Egypt’s credibility as a nation, and its increasing success in the tourism market, can in large be attributed to the fiscal reforms the Egyptian government have committed themselves to.

Recent reports also suggest that “foreign direct investment in Egypt this year is already running at its highest level for many years thanks to a couple of mega privatization deals, and that a number of high profile international investors are committing to the nation despite warnings that the profitability of their investments may not come to fruition for another decade or so.”

A reflection of property in Egypt’s gaining popularity is the potential for high returns on investments, with yields being known to reach up to 11 per cent. As a result, Egyptian property prices are on the rise , however are presently still indicative of its ‘newbie’ status in the property sector, as one could expect to pay as little as £37 000 for a 2 bedroom apartment in a beachfront resort-style complex.

This climate of positive change is extremely promising, as Egypt is bound for great success, as is aptly worded by Jennette Bradbury (Managing Director), “We expect the Egyptian property market to grow substantially in the next few years. After many years of economic reform the area is ripe for investment. With record levels of tourism, the property market in Egypt offers excellent investment returns, from both rental yields and property price rises."

Egypt’s wealth of historical background, abundance of exquisite scenery, as well as death succession duty of 7 per cent, and zero capital gains tax – translates nto an unprecedented potential for positive growth.

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