Egypt Property Investment For Sale
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Egypt Property Investment For Sale | Guides, Economy and  Egypt Hotspots

 

"Extremely low property prices could offer a window of opportunity but only for those who are risk-averse."

 

The home of the Pharaohs, Egypt is dominated by the Sahara desert which takes up over 90% of the land mass forcing its 80 million inhabitants to live along the life-giving Nile Valley and Delta or along the long coastline.

Whilst the pyramids, sphinxes, tombs and ancient hieroglyphs have drawn an endless stream of visitors to Egypt for hundreds of years, the tourism market has expanded more recently offering a myriad of modern beach holiday locations specialising in water sports and diving.  The Red Sea Riviera with its clear water and coral reefs is fast becoming one of the top diving destinations in the world and much of the same coastline is now being developed as an upmarket golfing location as the year-round sunny climate and minimal rainfall make Egypt an ideal holiday destination every month of the year.

Egypt offers many opportunities for the would-be investor as property prices are very low and foreigners may now own, sell and let Egyptian property freely, unlike in other Middle Eastern countries.  However the political unrest that has shaken the country and continues to put a large question mark on the future of Egypt will continue to affect the property market for some years to come. 

For those who are risk- averse and attracted by the incredibly low prices there are numerous areas to consider buying in.  On the Red Sea hotspots include Sharm El Sheikh, Hurghada and El Gouna, whilst the overcrowded capital Cairo still needs more high-end tourist accommodation and on the Mediterranean coast the Alexandria is bursting with cultural history.

Country Guide

Geography

Egypt consists of a vast desert plateau interrupted by the Nile valley and delta. The vast Sahara desert claims over 90% of Egypt's land, forcing its 80 million people to inhabit the luscious, life-giving Nile Valley and Delta, and the coastlines. It has almost two and a half thousand kilometres of coastline that offer some of the best diving opportunities in the world.

Government

Egypt is a republic and has been since 1953. Although in theory power is shared between the president and prime minister, in practice it belongs almost entirely to the president.  Egypt has seen much violence and protests over the last decade whiich may erupt once again as there are real concerns about the lack of democracy within the election process.

Language

The official language is Arabic but English and French are widely understood by the educated classes.

Standard of Living

The cost of living is very low in Egypt compared to Western Europe prices, yet the standard, especially in tourist areas, can be very good. There is a thriving restaurant and café culture and a multitude of golf resorts and marina along the coastal areas that cater for high end tourists. This encourages a higher standard of living and better amenities. The road system is well developed, however medical facilities are not up to British standards.

Principle City

Cairo is the capital city of Egypt and is also the most populous city of the country.

Country Economy

Egypt has spent the last 10 years aggressively pursueing a policy of economic reform engineered to attract foreign investment and increase GDP growth.  Growth has been impressive and as a result national debts fell dramatically but the living conditions for the ordinary Eyptian changed little which lead to much national discontent.  After a public outcry new economic reforms have been introduced to increase social spending but the unrest together with the impact of the international financial crisis has slowed growth considerably

Key industries:

Egypt has a thriving export market, the majority of which consists of natural gas, textiles, chemicals, foodstuffs and construction commodities. The USA and Italy are the largest consumers of Egyptian goods.  Toursim also is a major contributor to the economy.

Hotspots

Sharm El Sheikh

Renowned for world famous diving, Sharm El Sheikh is the most popular tourist holiday spot in Egypt, drawing in the younger end of the tourist scale with its reputation as a fun resort with a lively nightlife. The extraordinary waters of the Red Sea offer some of the best diving in the world and are revered amid the diving community. With its own international airport, Sharm El Sheikh is easily accessible from major European capitals. With so many developments situated in and around Sharm El Sheikh, there is a wealth of property to choose from. 

Hurghada

South-west of Sharm El Sheikh on the Red Sea Riviera is Hurghada, once a small fishing village but now an up market tourist destination that attracts a stream of Europeans and Americans, and also visitors from other Arab states. Property ranges from cheaper town-centre apartments, popular with divers on shoe-string budgets, to wealthier, luxurious 'tourist villages'.

Cairo

The property market in Cairo is developing rapidly with a focus on the luxury end of the market to cater for the increasingly wealthy Egyptian classes and generate inward revenue. Despite recent construction booms there is still a lack of high-end tourist accommodation meaning the supply and demand relationship is a healthy one. Satellite cities outside Cairo offer a cleaner, healthier and often updated lifestyle. 

Mediterranean Coast

Tipped as the Côte d'Azur of the future, the Mediterranean Coast of Egypt is said to have an atmosphere that is more Mediterranean than Middle Eastern, and offers the still, turquoise waters that can be found gracing its European counterparts at a fraction of the cost. Founded by Alexander the Great, Alexandria is bursting with cultural history from its position as a centre point between African, Middle Eastern, Greek and Roman empires. It is an area yet to be developed by foreigners but expected to experience similar levels of development to more popular areas of the country as more people discover the charm of the Mediterranean Sea from the Egyptian view. Now then, is a shrewd time to invest and take advantage of lower prices before demand forces them up.

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