Light of Alexandria

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.

Dale Campbell asked:


Until about a few years ago Egypt property in was not a concept that generated immediate attention for many different reasons. Egypt hadn’t really established herself in the global real estate market due in part to lax governmental laws, an unfriendly infrastructure, inadequate building regulations, and difficult property taxes.

However, in recent times the scenario has changed. Though it cannot be said that this is a completely new Egypt being talked about and therefore any of the available Egypt property for sale in options can be picked, the situation has changed for the better. While there is not one factor that can be bestowed the credit for the improved property scenario, the government’s efforts in this direction has certainly helped the situation.

Egypt can now boast of an elevated rank in the Global Real Estate Transparency Index, as conducted and released by Jones Lang LaSalle. The country earned 59th position in the transparency survey. It can be argued that this is not a very bright achievement, but for those who are even slightly apprised of Egypt’s past property market situation can say what an achievement this is.

Another wing actively involved in illuminating the property in Egypt market is the Egyptian Tourist Authority. As per United Nations’ World Tourism Organisation (UNWTO), tourism statistics have revealed a growth of 20% for 2007. West Side Village reports that Egypt will be the ninth most popular destination for holidays in 2009. The Egyptian Tourist Authority does not aim to stay content with just this increase in tourists. They want the number to increase to 16 million by 2014 because an increase in tourism brings many benefits to different sectors within the country, which includes the property market.

Egypt property in is extremely cheap to buy and a four hour flight from the UK efines the accessibility pattern. Hurgada for instance is a tempting offer; cheap property prices, no capital gains taxes, nominal registration fee, flourishing nightlife and more, together contribute towards the argument. Likewise El Gouna, Sharm el Sheikh and other areas on the Red Sea present serious offers in the property for sale Egypt category.

Buying property in Egypt allows foreign buyers to enjoy the same rights as Egyptian citizens, but it is suggested to tread with caution. The Egyptian property market has just started the course to advancement and cannot be treated on par with international standards. It is a young market with age old informal schemas still covering considerable portions. Trading with reputed developers is of increased pertinence and judging the track record of the developer, before getting into any legal contracts, is also of considerable relevance. However there is no dearth of respectable developers.

If the property you want to buy is an established property you will need to haggle. A saving of 10% can be achieved. Once the price is settled a contract will need to be agreed. If you are buying a new development or an off plan project the prices are determined in advance and there is little room for negation of the price. Before you commit to anything you must have your own lawyer who is not connected in any way with the sale.

If you need a mortgage for your Egyptian property, you may find it easier to obtain the loan from the UK, as the mortgage industry in Egypt is still in its infancy. Some Egyptian developers will provide loans in order to encourage you to buy from them. However, strings are often attached, which can include the loan being for a short period of time and being tied into the development should you wish to sell your property. Therefore when it comes to buying an Egypt property for sale, always seek good legal counsel.



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