The Property Market in Egypt

Holiday homes in Egypt are something of a novelty, but already you can find developments that out-Vegas Vegas: exclusive, monumental communities that revel in this country’s ancient heritage. And with the Egyptian government going all out to attract international investment, things are looking promising for the adventurous buyer

Prices for Egypt Property £26,700 to £143,650

The Property Market in Egypt

It’s not so long ago that Egypt was the destination for Baedeker-brandishing maiden aunts. But Agatha Christie-style tours of ancient sites are rapidly being sidelined by beach and activity resorts on the Red Sea and the Med. Developers are offering properties close to diving and sailing centres and superb beaches at prices as low as £20,000 for a one-bed apartment. And although off-plan developments may not always have prime locations, values increase rapidly once construction is complete – good news for investors.

The powerhouse of this leisure revolution is Sharm el-Sheikh, at the tip of the Sinai Peninsula facing Saudi Arabia.Curiously enough, it was actually the occupying Israelis who got the ball rolling for Sharm’s tourism industry, in the late 1960s. After Egypt regained control of the peninsula in 1982, a steady trickle of investors took up where the Israelis left off – but it was the 1990s that really saw the boom in holiday-property development. Over the past two decades, Sharm has gone from being an isolated fishing port to a luxury holiday destination, with international developers and major hotel chains clamouring for ever- broader swathes of the coast. This trend,spurred on by official encouragement of foreign investment, is also in evidence along the Mediterranean coast and in select residential satellites of Cairo, packed to the seams with golf courses,tennis courts and swimming pools. The developer Emaar (which has been instrumental in the phenomenal property explosion in Dubai) has also entered the arena,and will bring added sophistication and interest to the market. Prices are still low, and capital growth is yet to reach anything like the levels witnessed in Dubai, but the market is growing ever-more ambitious...and ever-more attractive.

http://www.infinityqatar.com/egypt.htm