With the increase in tourists to the Red Sea region, the real estate market in areas like Hurghada and Sahl Hasheesh are continuing to offer great returns for investors. Property in Egypt is providing a wealth of opportunity for those willing to invest and many are already seeing the rewards.
With a new government in place the country is now looking stronger than ever and it is proving to be a great investment opportunity where many investors are reaping the rewards of owning a property in Egypt.
More than 12 million tourists are expected to visit Egypt by the end of 2012, a 23 percent rise on the previous year. The rise in tourists is good news for the country’s economy and has spread optimism across Egypt.
People who visit Port Ghalib will experience lavish surroundings mixed in with the traditional Egyptian way of life and most visitors leave the resort wanting to return
The number of tourists visiting Egypt in April reached 1.4 million and hoteliers in the Red Sea resorts have reported high occupancy levels.
Egypt has enjoyed a tourism increase of 32 percent in the first quarter of 2012 showing signs that the country has bounced back from the revolution in 2011.
The positive news has followed another great report from The Telegraph newspaper, which has recently revealed Egypt is leading the global markets in 2012.
Egypt’s tourism sector welcomed its highest number of tourists in 2010 and the news that the same levels of tourists are returning in 2012 has pleased investors.
Tourist numbers in Egypt have increased by 32 percent compared to the first quarter in 2011, rising from 1,894,044 to 2,500,301 tourists in 2012.
The daily newspaper reported the country is great for guaranteed sunshine without a long flight and is perfect for young children. The news article also describes the flight to Hurghada International Airport as a “no-frills” airline route.
News agency The Daily News Egypt has reported the spotlight is back on Egypt’s real estate sector now that property prices are stabilising and developers are recovering from disruptions last year.
The Daily Telegraph reported last year that most buyers want to use their overseas property themselves as a holiday home, for inheritance purposes, or for retirement reasons.
News agency Reuters has revealed this week that investors see Africa as the most attractive place to invest over the next ten years. According to the report, one in three are expected to put at least five percent of their portfolios into Africa by 2016.
Foreign investment is set to rise significantly in Egypt this year according to the report and international consumption is likely to pick up when the country’s political situation becomes clearer.
Once the elections are over and disputes in Cairo settle, property prices in Egypt are expected to rise again. Property experts have highlighted that if an individual is thinking of buying a property in Egypt, now is the best time to buy.
The festival will be a great start to 2012 for Egypt and is a chance for the Egyptians to celebrate what they have achieved.
The Egyptian Minister of Tourism Mounir Fakhry Abdel-Nour has announced tourists have brought in $9.5 billion in revenue this year and the festive season is expected to bring more tourists who want to celebrate Christmas and New Year in a warmer climate.
Since the revolution Cairo hotel occupancies are fairly low compared to the Red Sea resorts such as Hurghada and Sahl Hasheesh, which have been up over 70 percent since August.
Investors are looking at the long term rather than short term in Egypt and are seeing a great opportunity to invest in a country that will soon have a strong and stable economy.
Property investors are pleased hotels are back to being full like they were before the revolution and are confident Egypt has a bright future.
Tourists are interested in seeing the effects of the revolution and tour companies are now incorporating the recent events into their schedules.
The Al Futtaim Group owns the rights to Marks and Spencer in the Middle East and the store is expected to generate substantial sales and be a huge success.
Italcementi Group is to introduce a new wind energy project in the Red Sea area and is expected to invest 140 million euros into the venture.
The increase of interest is set to encourage other investors, particularly property buyers who are recognising Egypt as a good place to invest in properties.