EGYPT PROPERTY SEES SURGE IN INTEREST FROM BRITISH INVESTORS
Egypt has seen a rise in interest from British homebuyers and has been described as one of the longstanding favourite destinations for international buyers, according to TheMoveChannel.com’s recent Top of the Props latest rankings.
The news has certainly attracted attention from British investors after the rankings revealed Egypt has shot up ten places to the top 20 after an impressive recovery from the revolution in 2011.
Managing director of TheMoveChannel.com, Dan Johnson, commented: “In spite of some political unrest in the last 12 months, the availability of extremely low-cost apartments in a destination with a genuine year-round climate, immense historical interest and world-class scuba diving has helped underpin demand in this longstanding favourite for international buyers.”
The positive news has followed another great report from The Telegraph newspaper, which has recently revealed Egypt is leading the global markets in 2012.
EGX 30, a stock market index for securities in Egypt, has reported a growth of 36.1 percent in the first quarter of 2012, ranking the country first among the world’s highest growth indexes.
2012 has signalled a recovery in the Egyptian market and the news has certainly impressed international investors. With a third of 2012 behind us, the winners and losers among the world’s benchmark stock markets are starting to emerge. The fact that Egypt has come top of the winners list is great news for the country.
The growth figure has joined a string of positive news about Egypt after having a good start to the year and has indicated a successful recovery in the Egyptian property market.
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Source: The Telegraph, Arabianbusiness.com