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Guides To Buying Property in Egypt
Egypt and Property

Situated in north Africa, Egypt is bordered by Libya, Sudan and Israel although the country is also surrounded by both the Mediterranean Sea and Red Sea.  The country has a land area in excess of 1 million km2, and a population of over 77 million people. Egypt and property in Egypt is packed with more history, culture and places to visit than many countries of the world put together.  Dominated by the ancient Egyptians the country has for some time been a powerful magnet for tourists, with sites such as the Pyramids, various Pharaoh tombs and the Great Spinx proving popular attractions. 

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Property Market in Egypt

While the Egyptian property market offers good potential for sustained long term growth , historically it has been effected my unrest in the region and more recently the terrorist threat in and around Egypt.  The year 2005 saw a very difficult property market as local and regional unrest had a knock on effect to all property markets in the area, however this recessionary period came to a close in 2006.  This was as much as a result of an increased emphasis on the tourism industry as it was on a pick up in the economy. 

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Buying Property in Egypt

The last few years have seen a major sea change in the policy of the ruling authorities towards overseas and expat investment in the Egypt's property market .  Many of the earlier restrictive laws have either been amended or removed as Egypt continues to invest in the future, and ensure a constant flow of overseas investment. 

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The Outlook for Property in Egypt

While many experts are predicting property price growth in Egypt in the region of 15% per annum for the foreseeable future, there are some economical risks to consider. However, if the authorities continue to encourage overseas investment in all areas of the economy, and are able to stimulate and nurture local activity, the future looks very rosy indeed.

 

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