Egypt today offers a solid economic climate in which to invest. Egypt is an emerging market property market in key tourist locations and already offering excellent returns on investment.The world Bank choose Egypt as the sixth country among top 10 countries all over the world to apply the economic reforms in 2007
The experts agree that the current economic climate should improve the economy of the country, create more opportunity for employment and domestic wealth growth, and increase the attraction of the country from an overseas investors.Today investors seek the stability and simplicity of the property market to gain good returns on investment. Egypt offers many possibilities in the form of 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 imminent introduction of mortgage facilities to foreigners in Egypt will precipitate an increase in demand for property and prices will inevitably rise at an even greater rate than investors are already enjoying today.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 holidays homes or second homes in these areas. New off-plan opportunities are now springing up, attracting overseas investors looking for a secure investment with good growth potential Due to recently reform to streamline purchasing procedures in Egypt the country now attracts more overseas property purchasers than ever before.All indications show that property in Egypt is now a highly beneficial market in which to invest. While the tourist infrastructure and economic climate is constantly improving in Egypt.Egypt may seem like an exceptionally unusual choice as a location in which to invest in real estate , it’s a great vacation location with its 7000 years of history, its near perfect year round climate beaches and beautiful diving.
Main Reasons Why to invest in Egypt -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, unspoilt landscapes -Steady annual growth in tourist figures -Less property taxes than paid in europe or in other countries -No capital gains tax -British residents avoid inheritance tax on any Egyptian properties -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.If you are interesting to invest in this country, feel free to contact me, we manage an important portfolio of different development of different sizes.
Charlotte
PRO Professional Realty Investments Co.
[email protected]Hi,
Interesting to read about Egyptian property oppurtunities!!
I have just been working there for the last 18 months (construction/mining) and travelled through there 5 years ago…..in short, Im sorry to say I wouldn't be interested & would warn people to think VERY carefully before "investing" there.
Yeah sure its a great country to visit with lots of history, there are plenty of tourists flocking at the moment….along with plenty of property developers looking to cash in!. Just remember that Egypt is not unlike the rest of the middle east when political unrest arises…they are all connected, trust me! One affects the other in some way or another. VERY volatile situations arise very quickly & the first thing it affects is tourism. Which Egypt relies upon immensley. This happened while I was there….twice….Then theres the corruption, its rife…
Also, I think its just worth noting, that while some of these resort apartments are quite nice & luxurious within their own grounds, more often than not the immediate outlying areas & services are 3rd rate & the majority of areas resemble a tip or a bomb site…not very attractive. (depending on the area; Hurgada & south is a good example; Namah Bay & Sham el Shiek are OK, but the rest of the Sanai coast isn't…Dahab & SES have also been subject to toerroist bombings in the last 2-3 years, not to mention what happen 10 years ago at Valley of the Queens!!) To give you an idea on the image of most of these towns/areas, all the business/local apartment buildings built next to these resorts are never completed; as there is a local completion tax when the buildng is finished, most Egytian entrepenuers leave the top story unfinished so they dont have to pay the completion tax resulting in an unsightly streetscape next to resort apartments!! Also, business wise the people are difficult to work with at times…this would be a very challenging situation for an investor.
My only advice for those thinking about this is that you need to Keep It Simple & invest in a place that has had a good history of growth with minimal volatility…especially in these economic times!! If the US, Uk Europe & Aust are doing it tough in various markets, housing etc & the talk of recssions, what do you think happens in the poorer, more unstable countries….Dont want to sound too negative or against the idea, you just need to tread carefully in these countires. I would want to keep my investments in historically good areas & close enough to keep an eye on myself….
regards
Andyandymoose wrote:Hi,
Interesting to read about Egyptian property oppurtunities!!
I have just been working there for the last 18 months (construction/mining) and travelled through there 5 years ago…..in short, Im sorry to say I wouldn't be interested & would warn people to think VERY carefully before "investing" there.
Yeah sure its a great country to visit with lots of history, there are plenty of tourists flocking at the moment….along with plenty of property developers looking to cash in!. Just remember that Egypt is not unlike the rest of the middle east when political unrest arises…they are all connected, trust me! One affects the other in some way or another. VERY volatile situations arise very quickly & the first thing it affects is tourism. Which Egypt relies upon immensley. This happened while I was there….twice….Then theres the corruption, its rife…
Also, I think its just worth noting, that while some of these resort apartments are quite nice & luxurious within their own grounds, more often than not the immediate outlying areas & services are 3rd rate & the majority of areas resemble a tip or a bomb site…not very attractive. (depending on the area; Hurgada & south is a good example; Namah Bay & Sham el Shiek are OK, but the rest of the Sanai coast isn't…Dahab & SES have also been subject to toerroist bombings in the last 2-3 years, not to mention what happen 10 years ago at Valley of the Queens!!) To give you an idea on the image of most of these towns/areas, all the business/local apartment buildings built next to these resorts are never completed; as there is a local completion tax when the buildng is finished, most Egytian entrepenuers leave the top story unfinished so they dont have to pay the completion tax resulting in an unsightly streetscape next to resort apartments!! Also, business wise the people are difficult to work with at times…this would be a very challenging situation for an investor.
My only advice for those thinking about this is that you need to Keep It Simple & invest in a place that has had a good history of growth with minimal volatility…especially in these economic times!! If the US, Uk Europe & Aust are doing it tough in various markets, housing etc & the talk of recssions, what do you think happens in the poorer, more unstable countries….Dont want to sound too negative or against the idea, you just need to tread carefully in these countires. I would want to keep my investments in historically good areas & close enough to keep an eye on myself….
regards
AndyI would comment one thing. Only buy in emerging markets with somewhat difficult laws from a reputable developer. Why do we say that – as we have been offered some very unsuitable projects for the last year and have not heard of the developer before so we don't touch. It is worth paying a little extra and at least you know you are getting results. The Egyptian market is good and returns are high. Be careful and do due diligance on the builder or developer. We did. That's why we thus far only work with one and are comfortable in doing so for at least the next 10 years.
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