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.