For the recent past, Spain and Turkey have been the leading destinations for property investment. However, that has significantly changed as Egypt is emerging as a promising destination for investment purposes.
The recent industrial advancements have seen an upsurge in the number of industries being set up in the neighborhood areas. For instance, Hurghada is being considered as the very best investment location comparable to other seasoned locations like Makadi Bay, which is very close to Hurghada. Along with the advantage of running a property in one of the busiest places in Egypt for any cheaper rate, other advantages include high returns on investments and better property deals. If you are a novice in the real estate business, then you needn’t panic. Many websites offer enough details about properties in Egypt
The main reason why real estate in Egypt is so popular is its stable economy and comfortable standard of living. At present, the price of property in Egypt is still within the means of many buyers, however as prospective investors realize the countries potential these prices are anticipated to grow rapidly.
Seen as an emerging property market, Egypt has already demonstrated strong returns for those who invested early, some have reached 20-30% per year depending on the area. The government has stepped up its promotion of the country and is dedicated to modernizing Egypt’s communications and transportation networks in preparation for the arrival of visitors to the country.
The popular Red Sea coastal resorts and main cities of Cairo, Luxor and Alexandria have received the main attention from overseas property investors. Various development projects are underway or have already been completed in the coastal resort regions. Due to this, there has been an increase in tourism leading to a significant boost in demand for property in Hurghada, Sharm El Sheikh, El Gouna and Marsa Alam.
What has caused real estate in Egypt to become more popular during the last few years? People are drawn here for its interesting and exotic culture and traditions, yet it also manages to be modern in its provision of amenities. Egypt has the advantage of being just a short flight away from most major European cities, it can offer the ideal climate, has a stunning coastline and a broad range of activities and sights. Currently, the country has a healthy economy and the government is energetic in its promotion of the country to tourists and visitors, these are just some of the basic ingredients needed for investors looking for long-term returns from the property in Egypt.
As Egypt receives more visitors each year, the demand for high generating short term holiday rentals increases and with a year round warm climate the continual holiday rental is also positive. Budget airlines have already organized flights to the Mediterranean and Red Sea resorts, minimizing the time the journey takes and the cost. Several regular flights are operated by both Egypt Air and British Airways between Heathrow and Cairo International Airport from which one can connect to internal flight by being taken to the coastal resorts of Sharm el Sheikh, Marsa Alam, Hurghada, and Taba.
Over the long term, investment opportunities for Egypt real estate are positive, for anyone thinking of investing in property here this is the best time to do something about it as the economy is steady. The Egyptian government has been preoccupied with overseas investor marketing schemes through tax breaks and a simplified purchasing procedure. Egyptian cost of labor is very low, while the living standards and tourism levels are on the increase.
House easily obtainable in Egypt implies that it’ll reap gold for you indeed. Such is the worth of property in Egypt at the moment. The country has a rich as well as varied heritage and has served as one of the significant economic hubs around the world in ancient times. Evidently, the Egyptian natural resources allow a decent living. You can make a comparison of prices of different properties in Egypt on a single price comparison website providing you with you with an extensive listing of prices. You can choose the facet of purchasing a land or property of your choice without much deliberation.
Owning Egypt property means to safeguard your hard earned money. Provide the property for lease or offer on the rental basis. There are various benefits when you purchase a property within the form an apartment or a flat. If you buy a condo, you’ll be able to lease it to some business organization. You can convert it right into a commercial complex allowing several malls and shopping centers to become setup there. Discover the difference on your own when you actually start earning profits. Egypt is a perfect location to get on the property in areas like Hurghada unconditionally; either for commercial purposes or for residential purposes.