Why buy property in Egypt?
Egypt is one of the most popular destinations to visit when you travel. It is amazing how much more there is to see in Egypt than one might think. The Nile River is the main route to Egypt. It's a great place to see the country's mystical past and present. 90% of Egypt's attractions can be found along this stretch. Egypt has a rich religious history with many relics from early Christianity, Coptic Christian Church, as well as many Islamic and Jewish heritage locations.
The best time to visit Southern Egypt is December-January. لاكازا العقارية However, the tourist season in Egypt will be longer the further north you travel. Summer is the hottest time, but Red Sea Coast resorts are more comfortable. Hurghada can also be reached by plane with the budget airline EasyJet.
Egypt's climate is pleasant all year. The country is also a great place to enjoy golfing or diving tourism. Many of the dives in the Red Sea are done by shore-based dayboat operators. There is also a large number of shipwrecks to be found. The Red Sea is known for its strong storms, where captains of ships are unaware that there are submerged islands and reef chains. This, along with its rich marine diversity, is what makes the Red Sea an exciting destination for divers. In terms of diversity and density, the fringing coral reefs are second only to the Great Barrier Reef.
According to statistics from the Hurghada Tourism Board, the Red Sea has seen an increase in visitors over the past 15 years. Among the 5,50,000 tourists each season, 80% of them are scuba divers. This brings in a lot of income for the region.
Egypt: Property Growth
Potential UK property investors will find the Egyptian economy very robust and friendly. Long-term investors in Egyptian property are experiencing a lot of excitement. In recent years, the market has seen a huge 50% increase in property prices, especially in the last two years. The trend is expected to continue, with a minimum 20% increase predicted for the next year. Egypt's property is relatively affordable at the moment, and the country is rapidly developing market means that substantial profits can be made.
The Egyptian government has been very cool with their policies toward foreign property investors. They have streamlined purchasing procedures and offered tax incentives so that foreign property investors don't have to pay capital gains taxes and are not subject to inheritance tax.
According to the Egyptian Tourism Agency, more than a million British residents visited Egypt in 2019 for 9.1 million nights. These numbers have increased by 23% in 2020 and are expected to rise further in 2021. These figures only include UK residents who visit Egypt, but there are millions of tourists from other countries.
Zoheir Garranah, the Minister of Tourism, launched an advertisement campaign called "The Gift of the Sun", spending millions of pounds to promote the country's tourism potential. He hopes that the campaign will help the country attract 14 million tourists in 2014. His "Tourism Awareness Project", which advocates "Tourism benefits everyone," has him pledging to improve services and to educate Bazaar merchants.
The Dessert Pearl, a Hurghada development project, lacasa property is scheduled to be available for sale in 2008. There are a variety of 1-bedroom deluxe apartments and 2- and 3-bedroom apartments available. These apartments include facilities such as swimming pools and tropical gardens. Hurghada is a popular town on the Red Sea Riviera, north east Egypt.
Egypt is a great option for property investors looking to get good returns on their investments. You have many options, including an off-plan contract that you can resell upon completion and a "buy to rent" situation. Both of these situations can provide substantial rental income which will result in capital appreciation.