Egypt Real Estate
The laws and taxes in Egypt may have made real estate investing
too complicated and expensive in the past. Rhiannon Willliamson
says that things are changing, though. It may be time to look
at Egyptian real estate.
Is Egypt's Real Estate Sector Really Worth Investing in?
By Rhiannon Williamson - 2007
Oh how I love a question that’s so easy to answer…is
Egypt’s real estate sector really worth investing in?
Too right it is!
There are so many positive aspects of the property market
in Egypt that make the entire sector an exciting place to be
right now that anyone serious about venturing into an emerging
overseas real estate market should be focused on Egypt for at
least the medium term.
First things first let's remove the confusion – Egypt
is not a country plagued by terrorism, drought or famine –
it's a stunningly beautiful, ancient and interesting country
with a coastline that is brushed and caressed by both the Mediterranean
and Red seas. It is also one of the most exciting and exotic
countries in closest proximity to Europe giving investors a massive
potential tourist audience to target; it is also a country that
can genuinely boast year round sunshine on its Red Sea Riviera
which means it offers investors year round potential for profit.
If these are not reasons enough alone for a property investor
to get curious about Egypt, how about the fact that Dubai based
mega property developers Emaar have just committed millions of
dollars to the Egyptian residential real estate market place
in Cairo? Or what about the fact that the Egyptian government
have slashed property related taxation costs to make the whole
process of owning real estate in Egypt that much more affordable
for more people?
You can add to this the fact that inward foreign direct investment
into Egypt is at an all time high, the country is receiving higher
annual visitor intake than ever before and the country is enjoying
its best relationships with Western governments in documented
history if you like.
Furthermore the amount of investment and economic confidence
in Egypt is opening up a wealthy and growing middle class sector
who are keen to afford property for sale and rent in Cairo and
Alexandria in particular, and this gives an investor a local
resale market to target in the medium term which further boosts
the long term potential of an investment made into the real estate
sector which is currently dominated by the tourism market.
It's a fact that the highest rental incomes achievable for
a real estate investor in Egypt right now are from tourist friendly
properties along the Red Sea and Mediterranean coastlines –
properties that are well located and facilitated are most in
demand from the tourism market looking for short term lets. But
there'salso a growing retirement market in Egypt that’s
attracting great attention and giving real estate investors another
potential revenue stream to explore.
Egypt really is the place to be for real estate investors
looking for immediate income and medium to long term capital
growth and resale potential - and because the property buying
process for foreigners in Egypt has become more affordable and
more transparent in very recent years, the numbers of investors
examining the market and exploring its possibilities is set to
rise and rise.
Reference Box: Rhiannon Williamson writes about real estate
investment in emerging markets worldwide. To read more about
property investment in Egypt click here. (Author; please contact
us.)
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