Send to a friend
News
Egypt Property Prices to Increase Steadily Over Next Five Years - 8 March 2010
With low costs and an expected shortage of mid-priced housing, now is the time to jump on the Egyptian property market, advise real estate experts.
Currently, studio apartments in the Red Sea region start at £10,000, a deal unheard of in other investment hot spots like Turkey and Spain. Though low demand brought Egypt property prices down in 2009, as the economy begins to turn around, prices are already starting to creep.
A recent study found that property in Egypt is expected to increase 6 percent every year from now until 2015. Cairo will experience the greatest returns as population and income growth soar over its housing supply. The Red Sea and the Mediterranean Coast are also poised to see pricing increases.
Forecasters also note that the north coast of Egypt is a strong investment contender. Thomson Airways will lure British investors this summer, offering direct flights to the area from Manchester and Gatwick airports.
Other countries are also seeing the tourism and economic growth potential of Egypt. Talks are underway with both Turkey and China to further economic relations.
Many international real estate experts agree that Egypt is a low risk market because of the numerous types investment choices and properties for sale. Aside from old and new developments, developers also offer good deals—up to 30 percent blow market value—on off-plan buildings, properties that haven’t been built yet.
Post this article to:
del.icio.us 
Digg 
Newsvine 
Reddit 
MyYahoo! 
Facebook
Related Articles
Get Onpulse
Portugal — New Launch in Tavira, 10% deposit. Greece — Development Land and Full Project opportunities. Krakow, Poland — Top release, designer city apartments. 5% deposit. Dubai Marina — Exclusive release, 15 year payment plan. Ras al-Khaimah — Pre-release purchase option. Turkey — Flagship Bodrum beach resort to launch new phase. Caribbean — Discount opportunity in St Lucia. Morocco — New release in master plan beach and golf resort. US — Florida resort release, take advantage of the strong pound and guaranteed rental income.
*Subject to a written positive RealtyCheck, Onpulse property offer to fully refund the client any initial conveyance fee to our Partner Live Overseas should they not wish to proceed with the purchase based upon any legal matter raised by Live Overseas relating to the property title that did not form part of the RealtyCheck Report. This refund is up to a maximum of £1500 per client.