Egypt is enjoying a period of rapid growth which is being fuelled by a massive increase in tourist numbers as well as the arrival of more low cost flights.
Egypt is enjoying a period of rapid growth which is being fuelled by a massive increase in tourist numbers as well as the arrival of more low cost flights. The increasing number of holidaymakers requires more accommodation which drives the rental market up.
The statistic shows that interest in the resort of Hurghada, for example, is currently 50 per cent higher than it was 12 months ago (according to figures provided by Cheapflights.co.uk).
The current weakness of the pound against the Euro has been cited as one of the main reasons for this increase, as it has made many European countries expensive places to visit.
By contrast, exchange rates with Egypt are much more favourable, which means holidaymakers are able to get more for their money if they travel further afield.
An increasing number of international developers are also looking to Egypt so there is likely to be even more choice for property investors in the coming years. Egypt is also consistently appearing in the top ten lists of hot spots for property investments.
With prices for some apartments starting as low as £30,000 and flexible payment plans offered by the developers, British buyers can easily fund the purchase of their holiday home.
Egypt is also one of the best buy-to-let destinations according to Global Property Guide. With guaranteed rental returns of between 7 and 10% in the resorts, making an investment in Egypt is surely one of the wisest things to do in the current market situation.
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