As Egypt and its property sector keep rising leaps and bounds, making known to the international community its rapidly growing emerging economy, one can clearly see why more and more investors are clammering to Egypt as their investment choice.a
Investment property in Egypt is currently on the verge of a property ‘boom’ phase, so there is no time like the present, to invest and purchase property in Egypt.
With the necessary infrastructure steadily and readily being put into place, many international investors are eager to further explore the vast investment opportunities in Egypt.
Following the recent property boom and ever-growing interest from foreign investors in Egypt, it is of little surprise that Property Select – your trusted property experts – brings you access to the latest developments Egypt has on offer.
Egypt’s current economic expansion is due, in part, to the measures taken of late by the Egyptian authorities. The government of Egypt has committed itself to “transforming the country’s economy through the promotion of foreign direct investment over the long term”.
One of the measures taken to expand on its economy is Egypt’s recent introduction of “new reforms to customs, income and corporate taxations, while privatizing certain sector industries, and developing an export market for their natural gas deposits”. These elements of improvement, when added together, equate to (according to some economic experts) the creation of “more opportunity for employment and domestic wealth growth while increasing the attraction of Egypt for overseas investors”.
Bearing in mind the low cost of living in Egypt, the imminent introduction of mortgage facilities for foreigners, as well as the uncomplicated tax system, including the no inheritance or capital gains tax for foreigners; one can safely assume that the demand for property and accordingly property prices will inevitably rise at an even greater rate – lending only positive returns to investors, both locally and abroad.
The success of Egypt’s ever-increasing tourism industry is a major contributing factor to the allure of Egypt as an investment destination.
Having remained amongst the top contenders in foreign holiday-makers’ lists – Egypt is no stranger to the influx of holiday makers on the search for the ideal utopian paradise in which to relax and unwind.
It is amidst these already well-established tourist hot-spots that many a development is set for completion in and around now and 2012.
“New off-plan opportunities from heavy weight international developers are now springing up, attracting overseas investors looking for a secure investment with good growth potential at rock bottom prices.”
In light of this, the quality of the new developments will have to, and are set to, rival those standards set by the already existing popular holiday resorts, and will have to be able to ensure its facilities and capabilities will be pristine enough to “cater for a wide variety of modern tourist requirements, from excellent diving and snorkelling, five star service and golf courses to cultural and historical activities” – therefore Property Select has sourced only the cream of the crop selection of prime Egypt property for your convenience. Click here to view the latest off-plan developments and available property in Egypt.
Egypt has no shortage of tourists and investors, which means that the rental market will remain a lucrative market for property investment for some time to come.
Another important drawing card for foreign investors is most definitely the fact that high rental yields are achievable from property located in the current tourist hot-spots and the fact that expected mortgage payments and bills can be covered annually from the rental income achieved is and very well should be a positive deciding factor towards investing in a property in Egypt.
As the climate for property investment in Egypt continues on the upward climb, it is evident that, also coupled with the fact that Direct Foreign Investment is continuously pouring in, Egypt’s economy shows enormous long term potential.