Egypt Property Investment the hottest newcomer in 2007

Egyptian Property

At just five hours flight time from the UK, Egypt is truly a world apart. A land which exudes the richness of the exotic, the land of the camel has warmly welcomed a steadily increasing flow of millions of tourists per year, visitors returning again and again to experience the distinctive hospitality of this really rather special part of the world. Whether it’s the pyramids or the dive sites of the Red Sea that attract you there in the first place, Egypt has a unique pull that captures the imagination and leaves the visitor wanting more. Needless to say, with tourists flocking to the country for years, it was inevitable that the market for property in Egypt would follow suit and now savvy investors, second-homers and retirees alike are rushing to the market. Attracted by the country’s low cost of living and year-round sunshine, many buyers are ditching traditional overseas markets in favour of Egyptian property, assured of excellent rental returns and capital gain.

Egypt Property Investment

With property price growth of 20-30% predicted over the next year, it’s a win-win situation for the country and investors alike, with the Egypt property market rising by an impressive 50% over the past two years and another 20 per cent hike predicted for the coming year, trickling down from the country’s ever-strengthening economy. The country’s shrewd government has noted the outside interest in the emerging property hotspot and have made several concessions to potential investors in the hope of promoting direct foreign investment, such as the streamlining of purchasing procedures and a de-complicated taxation system in which foreign investors can take advantage of no capital gains or inheritance taxes making an egypt property investment even more attractive. Additionally, customs, income and corporate tax laws have been revised and continue to be revised in order to enhance the investment climate to minimize risk for the personal investor and increase potential gains all round.

Egypt has long been popular with tourists looking for that something special and an estimated 300,000 British tourists alone make their way to the land of sand every year, captivated by the exceptional manner in which the country’s glorious past contrasts perfectly with all that modern Egypt has to offer: romantic Nile cruises and five star accommodation, 7,000 years of history and sophisticated, architecturally-superior living choices. The more exotic holiday pastimes, such as desert safaris and even camel riding are particularly well catered for as are established niche interests such as scuba diving and golf. Indeed, golf has been played in Egypt for over a century and the past decade has seen a surge in the game’s popularity in Egypt, making the Sinai and the Red Sea an attractive and exciting golfing alternative destination, with a number of PGA tour events already established in the area which makes the value of a golf property investment a rising currency.

Egypt Properties

The red sea resort of Hurgada is starting to turn heads, thanks to high profile developments such as Serrenia, designed by Lord Norman Foster, an innovative, ultra luxurious, self sustaining community with seven star hotel and Camper and Nicholson marina. Those in the know are getting excited about the magnificent prospects Sahl Hasheesh, soon to become one of most sought after waterfront addresses in the world with beach apartment developments overlooking the finest golf courses in the region. Situated just 20km from Hurghada International Airport, these walled, private communities, are setting a precedence as the first in the area to exist as renewable, sustainable communities, utilizing as many natural resources as possible. Twelve kilometers of sandy beaches, uniquely beautiful dive sites and three 18-hole golf courses make resort such as Sahl Hasheesh quite possibly one of the best overseas property investment options for 2007. Egypt properties are set to arrive in all settings, shapes and colours keep an eye for the hottest newcomer dominating the overseas market in 2007.