Egypt

Overview

Egypt has a mystical and timeless appeal that has been attracting travellers from far and wide for many centuries. From the fascinating sights of the Pharoahs, on the banks of the Nile at Luxor to the glorious beaches of the Red Sea at Sharm El Sheikh, this is a land of great contrast, where ancient and modern life exist side by side.

Past civilisations have left an indelible impression on the landscape creating what today must rank as one of the most spectacular sightseeing destinations in the world. Egypt has clear skies and bright sunshine all year round. English is the most widely spoken language after Arabic. The country offers nature and desert treks, great scuba diving and even golf, fishing and birding expeditions.

Property investment in Egypt is becoming increasingly appealing to investors

Egypt provides visitors with year-round sun, 7000 years of history, world-class diving and modern resorts, and with flights from the UK taking five hours and available for less than £300, it's no surprise that the holiday home and property investment market is starting to take off.

Whilst the number of overseas holidays taken by the British has increased by around 5 per cent since 2000, visits to Egypt have increased by a third, with 345,000 visits to the country by UK residents in 2004.

The property market in Egypt is proving to be very popular at the moment. It is an emerging market and therefore in its infancy for overseas buyers but with the Egyptian government marketing Egypt for residential tourism this year, the profile of the property market will be raised yet further. 

It is expected that the property market in Egypt will build substantially over the next five years. The market is flourishing at the moment and has been for the past few years with capital growth exceeding 100 per cent in some areas such as the Red Sea Riviera.

Demand is constantly growing and with many of the resorts and cities imposing building restrictions, supply will be controlled, keeping the market buoyant for a good few years yet at least.

Popular destinations
The Red Sea Riviera is the most popular area of Egypt with western tourists and property investors, of which Sharm El Sheikh is the main destination and has an excellent infrastructure which includes an airport and modern hospital.

Marsa Alam is an up-and-coming area for tourism and is likely to become increasingly popular with residential buyers too. Located near the Tropic of Cancer, it is given a tropical feel with palm trees, long beaches and coral reefs.

Opportunities for property investors in Sharm El Sheikh include holiday properties such as studios and villas, residential complexes, commercial property and land suitable for development.