Egypt is the land of pyramids and ancient civilizations, sun-drenched beaches and superb diving, comfortable climatic conditions and spectacular clear water. A land with quintessential mix of the old and new, extending from its architecture to its arts and beyond. And it can be said that Egypt is a place truly bustling with life, beauty and excitement.

Once known as the world’s top tourist destination has added a new crown to its feathers by becoming one of the top real estate destinations in the world. And two most promising and architecturally brilliant property hotspots in Egypt are Cairo and Gamsha Bay.

Cairo – The Melting Pot of Ancient and Modern Civilizations

Popularly known as the ‘Jewel of the Orient’ and the ‘City of a Thousand Minarets’, Cairo is the glorious capital of Egypt. The largest city in the Middle East and Africa and the seventh most populated city in the world, it lies at the centre of all routes leading to and from the three continents: Asia, Africa and Europe. Home to more than 16 million Egyptians, Arabs, Africans and others, a journey through Cairo is a journey through time, a journey through the history of an immortal civilization and a city where past and present meets.

Damac Properties are shortly to launch exclusive residential projects in New Cairo – the most exclusive master development in Egypt till now. According to Damac Properties their Cairo project is for people who like to live the luxury in the most well appointed villas.

Gamsha Bay – The Mega Leisure Destination on the Red Sea

It’s the red mountains that inspired the mariners to name crystal blue waters – Red Sea, where spectacular desert meets the heavenly radiant ocean. The Red Sea is truly one of the planets most exotic and fascinating natural seascape environments. For many, the enchantment lies in the exotic underwater world below, a living tapestry of resounding corals and exotic fish, waiting for you to discover its secrets.

The Gamsha Bay project is Damac’s largest real estate property in Egypt. Taking place on an area expecting to covering 30 million square meters on the Red Sea, this mega leisure development will offers residents 13 kilometers of beach. It will be divided into exciting zones comprising of marinas, 5-star hotels, golf courses, extreme sports adventure, villas, townhouses, retail establishments, shopping, boulevards, spa resorts, cinemas, scuba diving facilities and much more. Total investment is expected to reach over US$16 billion over the next ten years.

Damac Properties- the largest private master developers in the Middle East are offering the most exclusive Egypt property for sale.

While the pyramids may be the first thing that comes to mind whenever anyone mentions Egypt there is more to this oasis in the desert than the tombs of the pharaohs. With twelve months of sunshine, scorching temperatures and a fascinating history and culture it is understandable that so many are now deciding to buy property in this wondrous country. The climate combined with the hospitality of the locals is a powerful lure and probably the reason that such a large ex-pat community is being built in Egypt.

Currently, property market analysts in Egypt are seeing a rise in property sales across the country but particularly in Red Sea resorts such as Sharm el Sheikh. Agents in the country are extremely busy dealing with foreign buyers. Seemingly it is not only the lure of the fine weather and culture, the chance to make a profit on Egyptian property is also a strong incentive.

One of the reasons behind this boom in the property market is down to government initiatives to levy restrictions on building in the Sharm area. The levies are however only temporary meaning those who have land in the area are rapidly developing their plots while the restrictions have been lifted; otherwise they may lose their plots due to reclamation. The reasons for this policy are twofold; firstly the government wants to eliminate those speculating as the resort becomes more popular and secondly as the popularity of the resort increases, the government want the cranes gone so as not to ruin the atmosphere and vistas.

Another reason why so many Brits are deciding to buy property in the Red Sea area is the prices. Comparatively, prices in this area are far more affordable than in Britain; especially considering that a lot of the properties for sale are beach front. In terms of prices, most affordable are the apartments; both single and double bedroom varieties. However it is not just apartments for sale, properties vary from small to medium houses right up to luxury villas.

While the popularity of Sharm el Sheikh may be at an all time high, other resorts such as Hurghada and Marsa Alam are also experiencing a boom. Naturally prices in these resorts will be less than those in Sharm although for properties right on the beach a premium will still be added. For the more affordable properties, a five to ten minute walk from the beach will result in a drop in prices.

It is not just those buying second homes in Egypt however, increasingly there are many buying property to realise rental opportunities. Experts are estimating that the rental market will continue to grow in the Red Sea resorts as they become more popular with tourists. Reasons behind this increase in popularity include the excellent facilities in these resorts such as restaurants and bars as well as the amazing diving on the Red Sea reefs. In collusion with these powerful lures, an increase in both chartered and scheduled flights to the region will only bring greater numbers of visitors. For those who are trying to spot a possible future investment, Marsa Alam has been identified as a resort with unbelievable potential.

As Brits clamber to secure property in Egypt it is advisable to be at the front of the cue. Investment potential is strong while having a second home where the weather is almost guaranteed to be good understandably makes the Red Sea resorts immensely popular with foreigners. As the ex-pat community grows and rental incomes become a viable means of income, it is doubtless that the popularity of these resorts will increase.

Egypt is famous for its pyramids, sun drenched beaches, pleasant climatic condition, spectacular clear water and its ancient civilizations. It is a land, with perfect blend of old and new architecture and arts and can be rightly said that it is a place bustling with life, beauty and excitement. Known as the top tourist destination, Egypt has now become a top real estate destination in the world, with its two architecturally brilliant properties Cairo and Gamsha Bay.

Over one million UK holidaymakers visited Egypt in 2006, representing a 25% increase as per the Egypt’s Tourism Authority. Experts are predicting that Egypt could offer one of the greatest overseas property investment returns worldwide. Purchasing property is relatively simple in Egypt and one requires no purchases taxes, stamp duty, income tax nor capital gains tax and there is no restriction on freehold ownership of property for foreigners.

A rapidly expanding tourist market, the country is on course to welcome 16 million visitors from around the world by 2014. It has benefited from one of the fastest growing property prices in the world, with the average property price rising by 50% in the last two years. It also offers one of the highest returns on investment worldwide, with rental yields in key tourist resorts reaching 11% compared to 4-6% in the UK.

The current hotspot for overseas investors is without a doubt Egypt. With the cost of the property being low in Egypt, investors do not have to approach cash starved banks that have increased the interest rate and made lending harder. Seasoned investors can put a deposit down using a credit card and pay small monthly payments on many off plan or pre construction properties. Overseas investors know that profits are made on the purchase price and with low entry prices Egypt is set for good capital growth. Buying off plan property in Egypt allows investors to pay with staged payments. The government is continuing to commit to legislative initiatives designed to enhance the investment climate demand for quality property for sale and short term let is increasing.

Buying property in Egypt is a very attractive proposition as it offers a whole host of advantages including, lots of sunshine, inexpensive flights, low cost of living, unique atmosphere, low prices of property, diving destination of the world, increasing tourism, government favorable to overseas buyers, and sound investment potential. These are the factors that have interested the investors to invest in Egypt property.

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.