Egypt Property News | Egypt Attracts British Property Buyers

Egypt Attracting British Property Buyers | Egypt

Arguably, Egypt offers the best property investment opportunities in Africa for the British property buyers. Consider this.

A rich history as a testament to The Great Pyramids and Sphinx; the remains of ancient civilization along the legendary Nile River; proximity to Europe (approximately 5 hr. flight from London); the modern architecture of the latest constructions in the country, and much more. Though an Arab country, Egypt is not a typical Middle Eastern Muslim country with restrictive lifestyle. Rather, it seems more European than many of the other European countries in their outlook! This judicious blend of modernism and contemporariness is the prime factor for accelerated development in the Egyptian real estate market.

What Attracts British Buyers to Egypt Property Market?

As stated earlier, the historical significance of the country is next to none in the region. The monuments, landmarks, and cultural remains of the ancient civilization have enriched the Egyptian landscape. Such attractions are enough to lure the visitors from all over the world.

As a result, Egypt is very much a tourist country with an ever-growing tourism sector contributing to its fast-improving economy. The government of the day is also leaving no stone unturned to tap the unexploited tourism potential of the country. The political atmosphere in the country is also quite stable, and unlike many Muslim countries in the Middle East, Egypt is a lot more peaceful.

What has tourism got to do with the British property investors? Actually, a lot! With tourism, the demand for rental property surges; and in case of Egypt, with rollicking tourism industry, this demand is expected to grow manifold in the coming years.

The country borders Libya to the west, Sudan to the south, Israel, Gaza Strip, and the Mediterranean Sea to the north, and the eastern end of the country kisses the Red Sea. The coastal lifestyle and close proximity to Europe is another reason why the British flock to Egypt in search of an investment property. Some of the Brits also love the lively and metropolitan culture of the capital of Cairo, which makes the city a hotbed for frequent property deals.

Realizing the immense development potential of real estate in the country, the Egyptian government has relaxed laws pertaining to the ownership of property by the foreigners. This bait was enough for the Dubai development majors, DAMAC and EMAAR, to launch modern residential townships in places like Hurghada, Cairo, and Gamsha Bay. Undoubtedly, development of residential real estate on such mega scale at these places also invite expressions of interest from British investors of industrial and commercial property.

There’s a declared government objective of making Egypt one of the top tourist destinations in the world in collaboration with the World Travel and Tourism Council (WTTC) by the year 2011. Thus, tourist interest is bound to grow by leaps and bounds in this historically significant North African nation, which, in turn, will jack up the demand for all kinds of property in the country.

Most of the real estate activity in Egypt is currently concentrated around coastal towns along the Red Sea and the Mediterranean. You can hope to land a decent apartment here by spending just £15K. Resort property in places like Alexandria, El Alamein, Ain Soukhna, and Sharm el-Sheikh is always in great demand, where a luxury apartment (3-4 bedrooms) can be bought by spending just over £100K.

The best deal for Brit investors in Egypt is the off-plan property, which is available at relatively much lower prices. A 5-star luxury off-plan apartment in Hurghada can be yours by spending anywhere between £15K and £25K.

Strong demand for property in Egypt is backed with equally high returns (up to 25% per annum) that are virtually assured with every real estate investment. This is the result of a number of natural, cultural, economic, and governmental factors at play. Who wouldn’t like to put money in a country that has a blessed weather, rich history and culture, and projections for strong economic growth in the coming years?

The best part of the bargain for the Brit investors is that the real estate is in the developmental stage in Egypt. It means that the attainment of potential growth in Egyptian real estate sector is still some years away. This presents a perfect opportunity for the astute UK investors to invest in some of the prime locations of the country. Moreover, except in Sinai, the property is bought freehold across Egypt.

Regular flights to and from all important European and world destinations make Egypt a well-connected country. The advent of cheap flights in the recent times has not only given a major thrust to the tourism sector, but to thriving real estate sector too.

Overall, a win-win proposition for all kinds of Brit investors looking for high yields from Egyptian property!

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