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
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.
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.
British retailer Marks & Spencer (M&S) revealed last week that the company plans to open three stores in Egypt as part of a five-year expansion plan across the Middle East.