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Posted On: 30/06/2009
Egypt Property: Low Prices, Guaranteed Yields and Great PotentialThe credit-crunch has made Egypt an even better destination to make an overseas property investment than it was before, according to overseas property specialist Azure Overseas. The credit-crunch has prevented property prices from rising as they should in the country, but the fact that tourism is still rising rapidly makes this a good thing for investors, according to Azure director Frank Crowley, he said:
"Egypt is currently a vibrant market on the outskirts of Europe. Its proximity to Britain and the other major European and global economies, as well as the low cost of living in the country, translates to incredibly cheap holidays reachable by incredibly cheap flights. On top of that the country is very accessible, with direct and cheap flights operating to various destinations in the country from around the world, and the number growing almost by the month.
"The combined package of Egypt's tourism benefits is very attractive, and because of that visitor number growth has continued when other destinations have seen numbers drop. Because the credit crunch has prevented prices from dropping as they were expected to, today there exists a fantastic opportunity to buy a bargain property in Egypt, one with a high guaranteed rental yield if you choose, and await the inevitable capital growth as it continues to grow into one of the world's top destinations."
Azure Overseas are currently advertising several bargain properties for sale in Egypt, many of which have high rental yields guaranteed for between 2 and 10 years.Frank picked out his credit crunch star buy; the La Place development, offering studio apartments in Hurghada from just £10,500, with 1 and 2 bedroom units also available.The development is located in the south of Hurghada's Intercontinental area, close to some of the town's most luxurious hotels including: the Intercontinental, Steigenberger and the Hilton Resort. This area is certainly one of Europe's rising stars and a firm favourite with returning tourists to Egypt. It is also close to Public Beach 9, which offers excellent facilities and is rarely overcrowded. Beach 9 is regularly referred to as one of Egypt's best kept secrets.
About Azure OverseasAzure Overseas is a member of the National Association of Estate Agents (Overseas) and adheres to the highest standards of customer care and stringent market research/due-diligence.
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