Egypt Property – A Favourite Hotspot For Overseas Investor - By: Article Manager

Egypt is famous for its pyramids, sun drenched beaches, pleasant climatic condition, spectacular clear water and its ancient civilizations. It is a land, with perfect blend of old and new architecture and arts and can be rightly said that it is a place bustling with life, beauty and excitement. Known as the top tourist destination, Egypt has now become a top real estate destination in the world, with its two architecturally brilliant properties Cairo and Gamsha Bay.

Over one million UK holidaymakers visited Egypt in 2006, representing a 25% increase as per the Egypt's Tourism Authority. Experts are predicting that Egypt could offer one of the greatest overseas property investment returns worldwide. Purchasing property is relatively simple in Egypt and one requires no purchases taxes, stamp duty, income tax nor capital gains tax and there is no restriction on freehold ownership of property for foreigners.

A rapidly expanding tourist market, the country is on course to welcome 16 million visitors from around the world by 2014. It has benefited from one of the fastest growing property prices in the world, with the average property price rising by 50% in the last two years. It also offers one of the highest returns on investment worldwide, with rental yields in key tourist resorts reaching 11% compared to 4-6% in the UK.

The current hotspot for overseas investors is without a doubt Egypt. With the cost of the property being low in Egypt, investors do not have to approach cash starved banks that have increased the interest rate and made lending harder. Seasoned investors can put a deposit down using a credit card and pay small monthly payments on many off plan or pre construction properties. Overseas investors know that profits are made on the purchase price and with low entry prices Egypt is set for good capital growth. Buying off plan property in Egypt allows investors to pay with staged payments. The government is continuing to commit to legislative initiatives designed to enhance the investment climate demand for quality property for sale and short term let is increasing.

Buying property in Egypt is a very attractive proposition as it offers a whole host of advantages including, lots of sunshine, inexpensive flights, low cost of living, unique atmosphere, low prices of property, diving destination of the world, increasing tourism, government favorable to overseas buyers, and sound investment potential. These are the factors that have interested the investors to invest in Egypt property.

About the Author

Compass Properties is one of the leading real estate agencies in Egypt Property, which is popular in the world by overseas buyers who know about Egypt. It provides Property for Sale in Egypt which has now become a top real estate destination in the world.

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