Egypt Property News | Investment Property in Egypt

Property Investment in Egypt | Egypt

A surge in tourists’ figures in recent times has awakened the Egyptian government to create an investor-friendly environment in the country. This beautiful North African country is the proud owner of a coastline, which kisses the waters of both Mediterranean and Red Seas.

A historically significant country, like Egypt, does not have to do much to attract tourists, with landmarks like Pyramids, Sphinx, River Nile, and host of ancient cities and heritage places. However, being a Muslim country, Egyptian authorities had to show some proactivism in order to prove to the world that theirs is a moderate and a tolerant country that welcomes international investment in real estate sector.

But can tourism alone ensure consistent inflow of property investment from foreign investors? Certainly not! At best, tourism acts as a catalyst for the expeditious growth of real estate sector in any country. And Egypt is no exception. Besides possessing some of the legendary hotspots from the tourists’ point of view, Egypt also makes investment sense in many other respects. Here are some of the reasons why, as a European investor, you should seriously consider investing in Egyptian real estate.

The low real estate prices are a sure turn on for any kind of investor. And Egypt offers one of the lowest prices for property in the region. Starting from £15K, and the upper limit of around £400K, the property prices in Egypt are surely a fraction when compared to prices for the same property in UK. The best part is the killing you can make by buying off-plan, so that by the time the construction is complete, you’ve already made handsome profits. With annual capital appreciation of around 25%, your Egyptian investment is certainly a high yielding one.

The property taxes in Egypt are a miniscule when compared with those charged by the authorities in certain other European investment destinations. There is no capital gains tax applicable on the sale or purchase of Egyptian property. The British residents are also exempt to pay inheritance tax on Egyptian properties. The stamp duties and other levies on properties in Egypt are also on a lower side.

Unlike its neighbouring countries of Middle East, Egypt is largely peaceful and politically stable. In fact, the country abjures violence in all its forms and manifestations, and preaches moderate modes of resolving outstanding issues and misgivings between different cultures. This is a big relief for potential European investors who might’ve been wary of investments in the Middle East due to volatile situation there.

The country has a strong economy backed by exceeding performance from the crucial economic sectors, like tourism and real estate. Backed by a strong demand from the domestic investors, the real estate in Egypt boasts of strong fundamentals, and is immune to serious ramifications from occasional volatility in the markets. Overall, this makes for an ideal investment climate in the country.

Investment property in Egypt commands a great respect from the high-end developers of Middle East, like EMAAR and DAMAC, who have already started construction works on residential townships in Cairo, Hurghada, and Gamsha Bay. This trust is the result of deeper understanding of ground realities in the country. Otherwise, such a large-scale investment from the regional bigwigs wouldn’t have seen the light of the day. Additionally, plans are afoot to create luxury resorts in Egypt to cater to a rush of tourists in the country. Again, big developers who have deep understanding of the Egyptian style of working and the potential for growth of real estate in the country are constructing these resorts.

Egypt has some of the best airlines operating regularly to and from the country, which connect the country with important international destinations. Low cost airlines have also started their operations in the country, which further makes the country a lucrative investment zone.

The low cost of living in Egypt and a large English speaking population also adds value to the Egyptian real estate.

Buyers seeking holiday homes or second homes have no better destination than the cities of Alexandria and Cairo, which offer quality standard of life akin to any major European city. These big cities are also your best bets if regular rental income is what you are after. With the development of luxury residential area of Cairo Heights, the market has suddenly realized the vast untapped potential in the high-end properties.

The British investors are in a win-win scenario if they decide to invest in the inexpensive Egyptian property market.

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