Property in Egypt is likely to be as robust an investment as its economy, it is thought that Egypt along with its property market is well placed to ride out the global economic downturn. While remaining firmly on the exotic list Egypt also can provide top notch amenities at very competitive prices for today’s holiday maker.
In recent times Egypt has embraced a more free market economy providing an easy trade route between Africa and Europe in addition to this it is an Arab nation with a pro western stance. This makes it an ideal area for investment in both the business and property sector. A large portion of Egypt’s GDP is based on middle eastern trade and banking which has led to a whole new group of affluent workers and entrepreneurs further fueling the demand for property in Egypt.
In particular waterfront property by the Red Sea is particularly high and is sustainable with its accessibility to Europe and therefore markets that hitherto had little or no access to waterfront properties at anywhere near these prices.
Infrastructure is well advanced in Egypt already it is well placed to receive high volumes of tourists once the red sea becomes a mainstream tourist destination demand will swiftly outstrip supply.
It’s also about time we dispelled a few myths about Egypt it is not overrun by terrorists its people are not starving and while it has deserts it does not suffer from a lack of water where it’s needed. Egypt is in fact an exciting vibrant country with all year sunshine and a phenomenal history it has a rich culture and a growing band of travellers and tourists alike who are willing to pay good money for rental property in the so called Red Sea Riviera.
Retirement is also a growth industry in Egypt with more and more people looking to spend the sunset years of their life in the sun and romantic splendour that is Egypt.
Meta= The property market in Egypt and its emergence as a top tourist destination is providing a new property boom. In Egypt property is well placed to ride out the global downturn and in fact property in Egypt is poised to become one of the Global hotspots.