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Thank you for the Egypt guide. I found the content to be balanced and informative.
Mr R Khan
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Egypt is close to Europe-fantastic weather- low living costs- the ideal location for investment property overseas!
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"Egypt offers really good overseas property investments. The properties are cheap and with excellent capital growth and a growing rentals market under way, it really is a no-brainer to invest in Egypt."
Source: www.thisismoney.co.uk
"Egypt is an emerging market for overseas property investmentÔøΩ and is already offering excellent returns on investment."
Source: www.propertyinvesting.com
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NEW YORK | Fri Feb 11, 2011 6:19pm EST NEW YORK (Reuters) - The end of Hosni Mubarak's rule in Egypt on Friday should bring opportunities for investors as freer markets and increased commerce gradually take root in a country with 80 million people hungry to become part of the global economy.
Despite the political uncertainty of what lies ahead in the short-term, investors see the Egyptian "White Revolution," as many citizens are calling it, an opportunity to grab market-share in the region's most populous country.
"There will be democracy and transparency and these changes will lead to more economic growth," said Larry Seruma, managing principal at Nile Capital Management. "It's a great opportunity to invest in Egypt."
The Egyptian economy and tourist sector has been growing rapidly, with tourist revenues up to 11 billion USD this year already and GDP thought to be growing at around 6%. So many other overseas property investment markets, like Dubai and Spain, are on the way down whereas Egypt as an investment property overseas location is definitely on the way up! The main investment resorts are Hurghada, Sharm El Sheikh, and up and emerging Marsa Alam Hurghada property is currently among the most popular in the Egypt and the world of overseas property.
The reason for this is extremely low entry property prices, enormous tourism growth, which in turn creates big demand for holiday homes. This presents a great opportunity for foreign investors; low priced property, with rental management and strong yields projected in all cases, guaranteed in others and this mix makes for an extremely active investors market. Hurghada has the perfect package for would be investors: year round sunny climate, plenty of restaurants, shops, sights and activities and commitment from the Egyptian government to expand infrastructure to serve the demand of growth in tourism. It also has its own international airport well served by flights from the UK and Europe and a flight time of under 5 hours.
Sharm El Sheikh is one of the fastest growing tourism destinations in the world, and itís popularity from second home buyers and investors is buoyant. Sharm is the most established real estate and tourism destination along the Red Sea in Egypt. The rental market is active in Sharm and rental yields are impressive.
Purchase a 2 bed apartment for £45k and rent for £300 per week. A reasonable occupancy of 15-20 weeks is what Sharm owners are currently achieving and this means on a property purchased at £45k a gross yield of around 11% Impressive! Sharm Property: Capital Growth Much of Sharm El Sheikh land and sea is protected by the government as part of several nature reserves.
This means that Sharm El Sheikh will never become over-developed as has been seen in so many promising property markets around the world. For investors this is important for 2 main reasons: less development against rising demand, equals demand outstripping supply which will cause significant growth in Sharm El Sheikh property prices. Owners of property in Sharm el-Sheikh can also buy in the knowledge that their views will not be destroyed by over development. Marsa Alam developing.
The one to watch! This quiet location, with stunning 100km beach front, offers a fantastic long term investment. This area is served by its own international airport and flightsfrom many European and UK airports. Marsa Alam is beginning to build infrastructure but is already recognised as an important area for divers, and the number of hotels opening have doubled in the past few years. The demand for bed space has given investors a unique opportunity in this region to buy hotel rooms which offer anon going rental income return of around 7-8% annually.
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