Real Estate & Investment News in Egypt from Propertyshowrooms.com

Population growth 'aiding Egypt's property market'

Thu, 12 Apr 2012 00:00:00 GMT

Demand for housing due to a growing population will help sustain Egypt's property market.

Speaking to Business Today Egypt, managing director of Orascom Housing Communities Omar Elhitamy explained demand for homes is outpacing supply in the country.

He noted an average of 440,000 new properties need to be constructed each year to meet existing demand, adding as there are so many young couples in the nation, there is continuous growth in household creation.

"The Egyptian real estate sector has always represented an opportunity for investors," Mr Elhitamy asserted, concluding the best prospects can be found in the low and middle sectors of the market.

Chief executive officer of Hassan Allam Properties Mohamed Allam also told the publication population growth is pushing Egypt's housing industry forward, commenting its expansion is "based upon real demand".

Last month, The National revealed an increasing number of developers in Egypt are concentrating on building apartment complexes, where the price of an individual property will not exceed 600,000 Egyptian pounds (£62,583), in a bid to deliver more affordable housing.

Hotels 'a target' for property investors in Egypt

Thu, 6 Oct 2011 00:00:00 GMT

Property investors from the Middle East are keen to invest their money in residential real estate and hotels, the 2011 Colliers International Global Investor Sentiment Survey has revealed.

According to the research, hotels in particular will be a target in Egypt due to the country's robust tourism sector.

John Davis, chief executive officer at Colliers International, commented that many investors will be waiting to learn the result of the elections and see if a new government can bring more stability to the nation.

However, he added: "Their conviction in the country's long-term fundamentals, especially in the tourism sector, will likely drive opportunistic acquisitions of hotel assets."

Office space in Egypt is another asset type that looks set to attract investors over the coming months, the survey found.

Many respondents from the country believe that demand for such properties is set to grow, particularly in New Cairo, with businesses seemingly keen to leave downtown Cairo in favour of this location.

Overcrowding and pollution in the downtown district were cited as the two main reasons that firms would want to move to an office in New Cario.

Egypt establishes committee to deal with land sales issues

Thu, 15 Sep 2011 00:00:00 GMT

In an attempt to boost confidence among real estate investors, the Egyptian government has established a committee to look into issues relating to the sale of land and property in the country.

According to a report in PropertyWire, one of the main areas of focus for the panel will be the price at which land was sold under the regime of former president Hosni Mubarak.

There are claims that certain sites were offered at a low price to Egyptian developers, which has caused problems among foreign companies hoping to enter the country's real estate market.

An official from the committee told the publication that they are trying "to reach a fair settlement by which investment will be safe and the contract respected and at the same time give the government and country their rights".

Confidence in Egypt's property sector has been shaky since the revolution in February this year ousted the incumbent leader.

Mr Mubarak and many of his government officials have since been arrested - and some of them charged with corruption.

Egypt 'a good option' for property investment

Thu, 30 Jun 2011 00:00:00 GMT

One expert has claimed that Egypt could be a good bet for anyone seeking an overseas property investment.

Director and founder of Rogue Property David Freeman stated that the north African nation is "definitely a place I'd recommend".

He noted that Sharm el Sheikh, a Red Sea resort in the Sinai Peninsula, has some developments that are worth considering and added that its popularity as a tourist destination enhances its appeal.

Meanwhile, a report in the Financial Times earlier this week revealed that construction activity in Egypt has slowed considerably since the revolution that took place in January this year.

With less stock being added to the Egyptian real estate market, investors may decide that now is a good time to make a purchase.

Hassan Allam, managing director of Hassan Allam Construction, told the publication that many people are holding back until the results of the elections - which are due to take place in September 2011.

Tourism boosting Egyptian property

Wed, 26 Jan 2011 00:00:00 GMT

A rapidly growing tourism market in Egypt helped to bolster the country's property market last year, it has been claimed.

Loxley McKenzie, director of property agent Colordarcy, has explained that the popularity of a number of emerging markets has been driven by savvy investors looking to get their hands on bargain homes abroad.

The news may interest those looking to buy real estate in Egypt, with many hoping to take advantage of the increasing number of visitors heading to the country.

"Egypt is doing very well for us. The majority of clients are people who have previously visited and as such, experienced some of the best diving in the world and cultural aspects," Ms McKenzie said.

"Foreign Direct Investment has also led to improvements in infrastructure. All that Egypt is missing now is mortgages to turbo-charge the market."

Meanwhile, a recent article by Stock Markets Review has claimed that Egypt has been enjoying a surge of interest of late, with many buyers attracted to its economic performance and potential for long-term gains.

Egypt proving popular with property buyers

Mon, 10 Jan 2011 00:00:00 GMT

As real estate investors increasingly shy away from the traditional eurozone destination, property in emerging markets such as Egypt has become more popular, it has been claimed.

According to an article by Stock Markets Review, the North African destination has been enjoying a surge of interest of late, with many buyers attracted to the strong economic performance and potential for long-term gains.

"The Egyptian property market has developed at an almost unparalleled rate over the course of the past three years, predominantly on the back of a huge increase in tourist visitors to the country from destinations including the UK, Russia, Germany, France and Scandinavia," the news provider noted.

Indeed, this has been further bolstered by the large-scale investment in tourist infrastructure that have been made - especially around the popular Red Sea resorts.

Individuals looking to buy property in Egypt may be interested to learn that a growing number of visitors are travelling to destinations including Sharm El Sheikh, Hurghada and Marsa Alam.

Egypt offers much for European investors

Wed, 27 Oct 2010 00:00:00 GMT

European investors looking for an overseas property should consider looking for real estate in Egypt, it has been suggested.

The destination offers quick and easy access from Europe as well as an idyllic year-round climate and cheap property prices, the Port Ghalib Red Sea group explained.

In particular, the body recommended looking at homes in Marsa Alam, with the region easily accessible for tourists and investors by both air and sea.

Ibrahim Saleh, spokesman for the group and vice-president of the Al Kharafi Group, said that Marsa Alam would become "one of the biggest stories in property in the next decade".

"While Hurghada and Sharm El Sheikh are known as some of the hottest destinations in the world, Marsa Alam is a new destination with low property prices and a young tourist market which is set explode in coming years," he added.

Meanwhile, according to a recent Jones Lang LaSalle survey, Egypt is one of the top destinations for investment in the Middle East and North Africa region.

Growing economy boosts the Egyptian property market

Fri, 24 Sep 2010 00:00:00 GMT

A return in demand from domestic and foreign buyers is contributing to a restoration in confidence in the Egyptian housing market.

Global Property Guide has claimed that both house prices and rents are beginning to rise in the country, supported by strong economic growth.

To this end, the real estate guide explained that the size of the housing market is expected to grow by about 14 per cent over the course of 2010, with property values increasing by around ten per cent by the end of the year.

Individuals looking for Egyptian property may be interested to learn that foreign demand from second homeowners is rising.

The news provider explained that this is mainly due to the country's tax-friendly laws. Current legislation prescribes that no tax will be enforced to non-resident property owners, aiming to encourage investment from overseas property buyers.

"For this market, the buying opportunities in Egypt – and particularly the newly-built opportunities - can be conceptually divided into three areas: Cairo, the Red Sea, and the Mediterranean Coast," the report said.

Court ruling to have little impact on Egypt property purchasing

Wed, 30 Jun 2010 00:00:00 GMT

Property sales will only be affected in the short term in Egypt following a recent court ruling that revoked a land purchase.

Talaat Moustafa Group (TMGH), Egypt's largest listed property developer, had been granted permission to build on land on Cairo's outskirts.

However, an administrative court suggested that the law had been broken by the New Urban Communities Authority, which had sold the land without opening up bidding to anyone else.

Chief financial officer Jihad Sawaftah noted in a statement that he did not expect the ruling to have a major impact on the mixed residential contracts already signed.

According to Reuters, the statement added: "As far as cancellations are concerned, we have not received any new cancellation requests as a result of the court decision and in general cancellations are within the normal range of operations."

Credit Suisse recently suggested that those looking to invest in property may wish to consider Egypt as the possible returns are likely to be greater than in neighbouring countries.

Egypt will be a 'top destination for investment'

Mon, 7 Jun 2010 00:00:00 GMT

Egypt has been tipped as one of the top destinations for property in the next few years, it has been reported.

Speaking to the Essex Gazette, Penny Ayers, from Keith Ashton International, explained that the country was benefitting from its growing economy and increasingly affluent middle class.

She said: "The demand for property is increasing again and it will almost certainly be one of the top overseas property investment hot spots for the next few years.

"The investment climate is widely regarded as a promising one … property by the Red Sea in Egypt continues to prove popular with investors."

It could lead to an increase in the number of investors searching to find property in Muhafazat al Bahr al Ahmar, with the destination offering real estate by the Red Sea.

According to a report earlier this year by Gulf News, many investors are beginning to realise the potential of the Egyptian property market, with strong GDP growth making it a tempting proposition.

Fractional ownership likely to be popular in Egypt

Thu, 27 May 2010 00:00:00 GMT

Fractional ownership is attracting a lot of interest from wealthy holidaymakers in the Middle East, new research has found.

According to a survey, conducted by RCI's shared ownership consultancy NorthCourse, 44 per cent of respondents were in favour of the real estate opportunity.

However, a lack of awareness of the business model was cited as a reason for putting many of those questioned off investing.

Currently, about 62 per cent of Middle Eastern shared ownership resorts can be located in Egypt.

"Over the next five years timeshare growth worldwide is expected to increase by 50 per cent but will increase more in the Gulf area," said the report.

"Although the timeshare industry in the Middle East and Africa region is in its infancy stage, it has phenomenal potential, particularly with its population of over 300 million and through the development of current mega projects."

The news could lead to an increase in people looking to find property in Muhafazat al Bahr al Ahmar, with the region home to some popular tourist destinations.

Investor confidence is benefiting Egypt's real estate market

Tue, 20 Apr 2010 00:00:00 GMT

Property markets in the Middle East and north Africa have been benefitting from a rise in investor confidence over the past six months, new research has revealed.

According to Overseas Property Professional (OPP), global real estate consultancy firm Jones Lang LaSalle has claimed that stabilisation has occurred in the regions' property markets during that timeframe.

Among the markets expected to perform strongly was Egypt, with OPP reporting that 30 per cent of those surveyed believed that the country's real estate was already in the process of recovery.

Furthermore, Egypt's "large local indigenous populations will be the drivers of real estate demand in the near term", they stated.

In addition, the majority of investors surveyed predicted that slight price increases would be enjoyed in the area over the next two years, with the maturing market and a stable atmosphere cited as the main protagonists for the growth.

The country will also benefit from a new airport terminal and more flights being offered to the region later this year.

Investors seeing the potential of Egypt

Thu, 25 Mar 2010 00:00:00 GMT

Individuals are beginning to realise the potential of the Egyptian property market, with strong GDP growth making it a tempting proposition for property investment.

According to a report by Gulf News, the housing market is also set to benefit from the return of bonuses for European bankers, with the north-African destination a particular favourite among the city workers.

Peter Riddoch, chief executive of Port Ghalib Resort Co, who are involved in the country's largest development project, has claimed that canny investors are looking to the tourism hotspot in the hope of making money.

"China is showing ten per cent growth in GDP, India is at 6.8 per cent, Europe and the US are negative but Egypt is showing 5.8 per cent growth," the news provider reported.

"It's right up there with the big guns but people are only starting to realise that potential."

In addition, the Central Bank of Egypt decided, earlier this week, to keep interest rates in the country unchanged.

Lending has been frozen at 9.75 per cent while deposits currently sit at 8.25 per cent.

Potential investors may be interested to know that the country's northern shores will become more accessible this summer after Thomson Airways announced that it would be launching direct flights to the region.

Egypt poised for property market recovery

Tue, 23 Feb 2010 00:00:00 GMT

The Egyptian housing market could be poised for a recovery in 2010, according to property experts.

A report by Global Property Guide has claimed that there is likely to be "considerable movement" in the Egyptian property market during the coming year with new construction projects and continuing economic development at the forefront of the recovery.

It states that despite a disappointing year for the country's market in 2009, which saw a massive fall in demand, recovery is likely to be on the cards.

The website has recommended three hotspots for prospective buyers - Cairo, the Red Sea, and the Mediterranean Coast - offering the best opportunities thanks to continued development and good transport links.

Furthermore, the northern shores of Egypt are to become more accessible this summer as Thomson Airways launches direct flights to the area from Manchester and Gatwick airports.

The travel carrier has already announced that it is increasing the number of flights it offers to Egypt from Durham Tees Valley airport.

New airport terminal will boost Egyptian property

Thu, 28 Jan 2010 00:00:00 GMT

The Red Sea resort of Hurghada in Egypt will benefit from a new terminal being built at its international airport.

The news is sure to please investors in the area who could capitalise on an increase in tourism to the region.

It is believed that the new terminal will help to boost tourism numbers in the region from 6.7 million to 7.5 million.

Steven Worboys, managing director of international property experts Experience International, said that the announcement was encouraging news for property owners.

He believes that they will be able to enjoy easier access to their homes, as well as benefitting from any additional rental income the terminal will generate.

"Interest in the Hurghada area as a location for a second property ownership has been strong, especially as the region has developed into an established tourism destination in recent years," he commented.

Potential investors will also be able to take advantage of Egypt's favourable exchange rate, with the GBP currently performing well against the Egyptian pound.

Hurghada is known for its watersports activities, nightlife and warm weather.

Egypt 'sound for investment'

Thu, 10 Sep 2009 00:00:00 GMT

Egypt is a sound investment destination, an economic analyst has suggested.

In a feature on the country, Chip Krakoff of Seeking Alpha said the country's demographic trends and economic state, combined with loosened regulation and tax in recent years, make it a good place for property and other investment.

He stated: "The fundamentals for the most part look right. These include a domestic market of 80 million people, expected to grow to 100 million by 2025, a stable currency and sound macroeconomic policies."

Mr Krakoff added that the country has "favourable" economic agreements with major economic powers, including the European Union.

He noted that developments include the rapid rise of a city near to Cairo called October 6th, which has seen a large number of apartments built since the 1990s.

Last month, Nuwire Investor identified a number of beach resorts as being popular destinations for British buyers.

These included places such as Hurghada, El Gouna and Sharm el Sheikh.

Egyptian property 'popular in beach areas'

Wed, 2 Sep 2009 00:00:00 GMT

The most popular places for those purchasing Egyptian property are in coastal resorts, it has been stated.

Investment portal Nuwire Investor stated that locations such as Hurghada, El Gouna and Sharm el Sheikh are favourites with UK buyers.

The website noted that in the latter case, a local instrument called a signature validity court verdict enables investors to have more than the statutory limit of two properties per foreigner that normally applies, via 99-year lease arrangements.

A prime location seaside property of 970 sq ft in size will cost from €200,000 (£123,000), property advisor at Lincom Real Estate Aelita Romanchenko told the site.

The expert noted that other coastal area homes would start at €80,000 and a city dwelling €40,000.

Earlier this summer, chairman and chief executive officer of building company Palm Hills Yasseen Mansour told Reuters that Egypt's expanding population will be a major driver of the market in the country.

Egypt tipped for bright winter

Fri, 21 Aug 2009 00:00:00 GMT

Egypt has been tipped to be a success story in this winter's tourist market, something that may encourage those thinking of investing in tourist rental property there.

Reporting on the country's prospects, travel portal TTG Live noted that there has been a 15 per cent rise in holiday bookings for the winter season from last year and said that despite the "very high" summer temperatures the country is now a year-round attraction.

UK director of the Egyptian State Tourist Office Khaled Ramy told the website: "We have the nearest coral reef to the UK and you can swim in the Red Sea even in the middle of winter."

Sharm el Sheikh may be one resort that Britons are keen to invest in, as the portal noted that British Airways is to start a service there from Gatwick that flies three times each week.

Long-term demographic trends will help increase property values in Egypt, chairman of developer Palm Hills Yasseen Mansour told Reuters earlier this summer.

He said developments in the east and west of Cairo the firm is involved in as the city expands are already costing 1.5 times as much as existing property in the capital itself.

Egypt 'set for price increases'

Wed, 24 Jun 2009 00:00:00 GMT

Egypt is set to see residential property prices go on increasing, a developer has said.

In an interview with Reuters, chairman of developer Palm Hills Yasseen Mansour said demographic trends will ensure that demand for property remains high and prices go on rising.

He told the news agency that demand is expected to be substantial for housing in areas to the east and west of Cairo - where the company has projects - and that prices in these areas are 1.5 times as much as similar homes in the city itself.

Mr Mansour commented: "We have a lot of value in the real estate that we have."

Egyptian property laws have helped the market do better than others in the region, it was claimed earlier this month.

Khalid El Nouby of Egypt Property Law said the country offers low taxes, as well as no stamp duty, inheritance tax or capital gains tax.

New Egypt development announced

Mon, 16 Mar 2009 00:00:00 GMT

A new residential property development has been announced for Egypt.

Dubai-based Hamptons International has revealed that it is to partner with Egyptian developer Kimidar Group to act as the agent for the new resort that the latter firm is constructing on the Red Sea coast.

Hamptons will launch the Golden Park Resort & Spa in Hurghada at a roadshow in Egypt to be held next month, something that may interest those wanting to buy property in the country.

The Red Sea Riviera resort is partly finished, with 40 per cent of it yet to be completed.

Managing director for Hamptons International in the Middle East Nasser Abdul Rahman Rafi said of the development: "With the resort already being 60 per cent complete, it represents a secure investment in an off-plan environment."

A popular destination for swimming and snorkelling, Hurghada enjoys a very dry climate with very low levels of rainfall.

Cairo property 'cheapest in the world'

Fri, 13 Feb 2009 00:00:00 GMT

Property in Cairo is among the cheapest in the world, a new study has revealed.

Global Property Guide's investigation into the world's most expensive real estate locations found that prime city centre homes in the Egyptian capital carry an average price of 574 USD (£402) per square metre.

And the study also noted that a property in Cairo is likely to offer a rental yield of 12 per cent - the highest of the 91 locations surveyed - a fact that may interest British investors who are considering purchasing a house aboard.

At the other end of the scale, New York property was found to have fallen from second to sixth place in Global Property Guide's most expensive areas, with prices in the Big Apple now averaging 14,898 USD per square metre.

Egypt was recently highlighted by ABTA - The Travel Association as a country that Britons are most likely to visit in 2009, noting that its popularity over the past year is set to continue.

Egypt 'offers investment potential'

Wed, 19 Nov 2008 00:00:00 GMT

Egypt has been identified as a market that could have potential for property investment during 2009.

According to PropertyWire, the country offers a number of benefits to investors, with Steve Worboys of Experience International noting that annual gains of up to seven per cent over the next decade are being predicted by the World Travel and Tourism Council.

Mr Worboys also told the news source that the country has been identified as one of the ten most improved in the world by the Jones Lang LaSelle global Real Estate Transparency Index.

And Mr Worboys identified a location which could attract investment.

"Oasis Marina in Hurghada is located on its own private Red Sea beach and it boasts excellent facilities such as a range of swimming pools, a spa, diving and aqua centres and a children's club," he explained.

Property investors considering making a purchase at the development can expect to pay from GBP35,873 for an apartment.

Chief executive of property portal Homesgofast Nick Marr recently stated that Hurghada offers an "irresistible combination" of low prices and good air links.

Hurghada 'offers irresistible combination'

Wed, 1 Oct 2008 00:00:00 GMT

The Egyptian resort of Hurghada offers UK investors an ideal location in which to invest, it has been stated.

Nick Marr, the chief executive officer for overseas property portal Homesgofast, said of the resort: "Low prices and an area with its own airport make Hurghada an irresistible combination for UK investors."

Explaining that the town has developed from a small fishing village to a major resort with an extensive nightlife scene, he added: "Prices are still low enough to buy an off-plan studio for under GBP20,000."

The one word of caution he supplied was to check that any property being bought has been built by a reputable company, to ensure that construction quality has not been compromised.

Another reason tourist property in Egypt may be attractive is the expectation that there will be an expansion of the industry.

The World Travel and Tourism Council has projected that the tourism sector will grow by an average of 5.4 per cent per annum over the decade from 2007 to 2017, with the number of people employed in the industry increasing from 2.8 million to 3.6 million over the same period.

Egypt 'offers non-eurozone advantages'

Thu, 28 Aug 2008 00:00:00 GMT

Those buying overseas property may be financially much better off by looking outside the eurozone, it has been suggested.

Egyptian property developer West Side Village has suggested that the north African country is a good example of how better value can be achieved, noting that at present the euro is trading at EUR1.26 per GBP1.

Sales and marketing director of the firm Stephen Smith said: "Investors would be wise to seek destinations outside the eurozone, where they will be more likely to afford quality investment properties in good locations, maximising their rental opportunities."

An example of what could be bought in Egypt was stated earlier this month by Aberdonian Mark Millson, who moved to the country from Scotland after becoming involved in a restaurant venture while on holiday.

He told the Sunday Mail the prices are "unbelievable", stating that the GBP92,000 his four-bedroom house in Hurghada cost would only buy a one-bedroom flat back in Aberdeen.

Egyptian house prices praised by expat

Tue, 19 Aug 2008 00:00:00 GMT

An expatriate from the UK has praised the relative affordability of luxury homes in Egypt.

According to Mark Millson, originally from Aberdeen, property buyers can far more for their money in the African nation.

He told the Sunday Mail that a house along the Red Sea coast, complete with a swimming pool, large garden and four bedrooms, can cost about £92,000.

This, he stated, is "just about" the amount that would be needed to buy a one-bedroom ex-council flat in Aberdeen.

Mr Millson commented: "Making a permanent move to Egypt has been one of the best decisions I've ever made.

"I've just fallen in love with the place."

He added that rising house prices in the country mean he is already benefiting from capital appreciation in his home.

Earlier this month, Al-Ahram Weekly revealed that Egypt is attracting more and more interest from second home buyers across the world.

This, it stated, is having a direct impact on house prices in Egypt by fuelling growth in the market.

Egypt attracts more British visitors

Thu, 14 Aug 2008 00:00:00 GMT

British consumers are increasingly booking trips to non-eurozone destinations such as Egypt.

Figures from Thomas Cook showed that the north African country is proving to be particularly popular with those who plan to head abroad later this year.

Indeed, the tour operator said winter bookings for Egypt are 20 per cent up on the same point of 2007.

This is likely to be welcome news for owners of rental property in resorts such as Sharm el-Sheikh, as it suggests demand for temporary lodgings will be higher this winter.

As a result, investors could find themselves well-placed to collect healthy rental returns.

Manny Fontela-Novoa, chief executive of Thomas Cook, told Reuters: "There is an increased demand for non-euro destinations."

"For us, that's good news because they are destinations where we have significant capacity and market leadership."

This comes after Co-operative Travel stated that Egypt is becoming more and more popular with holidaymakers from the UK.

The organisation said this is partly because it offers much better value for money than many European nations, as exchange rates are more favourable.

Egypt 'offers affordable house prices'

Tue, 12 Aug 2008 00:00:00 GMT

Analysts at Amberlamb have praised Egypt for offering relatively low property values.

According to the organisation, foreign property buyers can snap up a residence in Sharm el-Sheikh for as little as £120,000.

The country was described as a "highly affordable" market for overseas investors, partly because the market has so far been largely untapped.

Andrew Williamson, spokesperson for Amberlamb, stated that this is partly because Egypt has received less media coverage than many other investment markets.

This suggests that greater exposure could trigger a surge of interest in the African nation, thereby leading to greater house price inflation.

"Egypt has significant advantages for many would-be property owners," Mr Williamson commented.

"Properties are highly affordable [and] the flight time is a very respectable five hours."

Last week, Al-Ahram Weekly revealed that Egypt is attracting more and more interest from second home buyers across the world.

This, it stated, is having a direct impact on house prices in Egypt by fuelling growth in the market.

House prices on the up in Egypt

Mon, 11 Aug 2008 00:00:00 GMT

Owners of property in Egypt may be able to make a healthy profit if they sell up at a future date.

Al-Ahram Weekly has revealed that the country is attracting more and more interest from second home buyers across the world.

This, it stated, is having a direct impact on house prices in Egypt by fuelling growth in the market.

Therefore, property investors who choose to invest in the country could find that their residence is soon worth more than the amount they first bought it for.

Al-Ahram Weekly added that many foreign buyers are choosing to buy holiday homes along the coastline.

Resorts along the Mediterranean were said to be very popular, as well as towns on Egypt's Red Sea Coast.

According to Property Wire, the African country is proving to be very popular because it offers relatively low house prices.

The news provider said residences in areas such as the Red Sea cost far less than comparable houses in Europe, with some selling for less than £50,000.

Calzaghe seeks capital gains abroad

Tue, 5 Aug 2008 00:00:00 GMT

Boxing star Joe Calzaghe has revealed his intention to collect strong capital gains from his foreign investments.

The Welsh sportsman, who has held the WBO super-middleweight belt for more than a decade, has built up an extensive portfolio of overseas properties in recent years.

Speaking to the Sunday Times, he said he is using them mainly for investment rather than lifestyle purposes.

He commented: "I missed the property boom over here, but I like to visit new places and I find property investment fascinating."

Calzaghe stated that he now has so many foreign residences that he is unsure as to the exact number he owns, although he said his management keeps track of what is going on.

The boxer added that following his retirement, which is expected to come before the end of the year, he will devote more time to developing his portfolio even further.

Last year's winner of the BBC Sports Personality of the Year award now owns properties in countries as diverse as Turkey, Venezuela, Mexico, Egypt and the UK.

Egypt attracts foreign investors

Tue, 22 Jul 2008 00:00:00 GMT

More and more foreign property investors are choosing to enter the Egyptian market, it has been revealed.

According to Property Wire, the African country is proving to be very popular because it offers relatively low house prices.

The news provider said residences in areas such as the Red Sea cost far less than comparable houses in Europe, with some selling for less than £50,000.

Egypt was also praised for offering a favourable tax regime, as property owners are not obliged to pay stamp duty and capital gains tax.

Furthermore, the country does require foreign nationals to pay inheritance tax if a residence is left to a relative.

As a result, Egypt is becoming increasingly popular with property buyers who wish to invest overseas.

Property Wire commented: "The country's real estate sector is growing at an estimated rate of 15 per cent annually."

This comes after Homes Overseas described property prices in Egypt as "unbelievably low".

Egyptian mortgage market catching up with booming property market

Fri, 18 Jul 2008 00:00:00 GMT

The amount of mortgage finance in Egypt is expected to double in the next year as it catches up with the country's booming property market...

Britons seek good value in Egypt

Wed, 16 Jul 2008 00:00:00 GMT

Egypt is widely seen as a good value alternative to traditional holiday spots in Europe, it has been revealed.

Online travel agency Lastminute.com has seen a surge in the number of bookings to the north African country in the last few months, which it believes is partly due to the strong euro, reports Holiday Extras.

Indeed, the British pound is now at a record low against the single European currency, which means people from the UK are finding trips to places such as Italy more expensive.

As a result, the number of people booking trips to Egypt has gone up by 14 per cent in the last year, as it offers more favourable exchange rates with Britain.

John Bevan, managing director of Lastminute.com, remarked: "This summer our customers are going where their pound will take them further and where good bargains are to be had."

The resort of Sharm El Sheikh was recently named as one of this year's top ten tourism hotspots by Co-operative Travel.

Egypt recommended to investors

Fri, 11 Jul 2008 00:00:00 GMT

Overseas property buyers have been advised to consider potential investment opportunities in Egypt.

According to Homes Overseas magazine, the African nation currently offers relatively low house prices.

However, the publication stated that the country is currently experiencing considerable growth in its tourist sector, a development which is having an impact on its rental market.

As a result, demand for housing in the most desirable and popular tourist locations in on the rise, triggering a surge in property values.

This means that foreign investors could find that their purchase will soon be worth more than the amount they originally paid.

Homes Overseas commented: "Egyptian property prices remain unbelievably low, although they are expected to rise during the forseeable."

This comes after Paul Collins of the BuyAssociation website revealed that the amount of interest in tourist property in Egypt is increasing all the time, particularly in areas such as Sharm El Sheikh.

UK tourists flock to Egypt

Wed, 9 Jul 2008 00:00:00 GMT

Overseas property investors could find themselves in line to benefit from growth in the Egyptian rental market.

According to Co-operative Travel, the north African country is becoming more and more popular with holidaymakers from the UK.

The organisation said this is partly because it offers much better value for money than many European nations, as exchange rates are more favourable.

As a result, people who visit Egypt will be able to get more for their money during their trip.

Co-operative Travel stated that Sharm El Sheikh is proving to be especially popular, as it is one of the top ten tourism hotspots for 2007.

The group added that the number of bookings for the Egyptian resort is 38 per cent up on last year.

This comes after Paul Collins of the BuyAssociation website revealed that the amount of interest in tourist property in Egypt is increasing all the time, particularly in areas such as Sharm El Sheikh.

New transport link to Sharm el Sheikh

Wed, 11 Jun 2008 00:00:00 GMT

Low-cost airline Jet2 has announced that it is to offer a new series of direct flights to Egypt from Leeds Bradford International Airport to the sunny resort of Sharm el Sheikh next year.

In what could be good news for those who own investment property in Egypt, the resort, with its warm climate, ample history and beautiful coral reefs, will now be even more accessible for British tourists.

The area will be of particular interest to sun-seekers as it maintains its hot weather throughout the year, meaning people buying holiday property in Sharm el Shiekh have the potential to rent it out for all 12 months of the year.

Mandy Round, general manager of Jet2holidays, said: "Sharm el Sheikh is proving to be an increasingly popular destination for UK holidaymakers who flock there for guaranteed year-round sunshine and the spectacular sites and scenery of Egypt."

Egypt's government has been working hard to attract more investors and was recently recognised by the World Bank for its efforts in reforming trade and financial regulations.

Emerging markets attract British buyers

Wed, 28 May 2008 00:00:00 GMT

Property investors in the UK are increasingly looking to less-established foreign markets, according to a media report.

The Metro stated that a growing number of people are snapping up houses in places such as Egypt, Brazil and the Cape Verde islands.

This is because the markets are expanding at a faster rate than those in traditional investment hotspots such as Spain, France and the US.

As a result, owners of property in these countries have been collecting strong returns from both rental yields and capital gains.

The Metro added that investors are subsequently using the money to purchase a permanent residence in the UK, as they had previously been priced out of the market.

"Despite the credit crunch, buying property in Britain is still too costly for many people," the newspaper commented.

This comes after currency specialist FC Exchange said the housing market in the UK is in a state of "turmoil".

Egypt's tourism on the up, says report

Fri, 23 May 2008 00:00:00 GMT

A new report from the United Nations' World Tourism Organisation could be good news for anyone considering investing in property in Egypt.

It has been revealed that tourist levels in Egypt increased by 20 per cent during 2007, which has increased demand for property, reports Homes Overseas.

Speaking on behalf of La Siesta Tourism and Real Estate Services, Marion Isom explained: "This is excellent news for the buy-to-let market.

"Tourism figures always have an effect on the property market of a region and this rapid growth in interest in this amazing country is a welcome step forward."

Property seekers could also benefit from moves by the government to encourage financial input, resulting in tax incentives for foreign investment.

Meanwhile, those considering make the move from staying in hotels to resting in their own property may be interested in news surrounding the Grand Hyatt Hotel in Cairo.

It has been reported by the BBC that the owner, Sheikh Abdulaziz al-Brahim, has banned the sale of alcohol on the premises.

Tourism draws investors to Egypt

Wed, 14 May 2008 00:00:00 GMT

The popularity of Egypt as a holiday destination is having a positive effect on its housing market, an expert has revealed.

Paul Collins, property editor at BuyAssociation, said the amount of interest in tourist property in Egypt is increasing all the time.

He stated that the north African country is especially popular with sun-seekers who want a beach holiday, as well as fans of diving and golf.

This, he continued, has prompted many investors to buy a property in major tourist hotspots in an effort to cash in on its growing appeal.

Mr Collins commented: "Sharm El Sheikh is the top focus, and Hurghada is another place that is really popular."

He added that resorts including Dahab and El Guona, as well as places along Egypt's Mediterranean coastline, are also attracting strong interest from property investors.

Earlier this year, BuyAssociation predicted that Egypt would be one of 2008's main investment hotspots.

Egypt 'offers strong investment potential'

Tue, 13 May 2008 00:00:00 GMT

Overseas property investors could benefit from continued growth in the Egyptian property market, an expert has stated.

According to Paul Collins of BuyAssociation, the north African country is very popular with buyers in western European countries such as France, Italy and the UK.

However, he revealed that it is also becoming an increasingly attractive market for investors based in Russia.

This has led to him predicting that demand for property in Egypt will remain high even if ongoing economic problems restrict purchasing activity in countries such as Britain.

As a result, he believes house prices will continue to grow, making it a "strong investment proposition".

Mr Collins commented: "Even if things are worse than expected in the UK, it's got interest in Russia backing it up."

He added that its tourist market is likely to experience growth in the next few months, as low-cost airline easyJet has just introduced new routes to the country.

This comes after research by Cheapflights.co.uk showed that consumer interest in the Egyptian resort of Sharm El Sheikh is currently 50 per cent higher than it was 12 months ago.

Investors in Egypt to be boosted by tourism

Tue, 4 Mar 2008 00:00:00 GMT

Egypt's popularity among holidaymakers from the UK could potentially boost its investment potential.

According to the Association of British Travel Agents, the north African country is likely to attract a significant number of UK tourists in 2008.

As a result, people who let out property in hotspots such as Sharm el-Sheikh could find their residences are subject to strong demand this year.

This could have the positive consequence of boosting its value and allowing investors to collect higher rental returns.

Speaking to BBC News, spokesperson Frances Tuke said the growing appeal of Egypt is a reflection of changing habits in consumer's destination choices.

She commented: "People are becoming very demanding in their holiday choices.

"They want to be a bit more adventurous."

Egypt was recently recommended to foreign property buyers by the BuyAssociation website, which said it was one of the most popular winter sun destinations among Britons.

Top Sports Star Recommends Egyptian Property

Tue, 12 Feb 2008 00:00:00 GMT

A leading sports star has outlined his reasons for choosing to invest in the Egyptian property market.

Top boxer Joe Calzaghe told the Western Mail that he had become more and more interested in buying foreign property since watching a television show on the topic three years ago.

During the intervening period, he has amassed a portfolio which covers several countries including Egypt, a location he said he "loved".

Speaking to the newspaper, Calazaghe stated that he had been drawn to the north African nation by a number of factors, such as its good weather and highly affordable houses.

He commented: "Property prices are low compared to many other sunny locations so I thought I'd go for it".

Property in Egypt was recently recommended to foreign property buyers by the BuyAssociation website, which said it was one of the most popular winter sun destinations among Britons.

Investors 'should buy Egyptian property'

Thu, 3 Jan 2008 00:00:00 GMT

Property investors in search of warm weather have been advised to consider purchasing a home in Egypt.

The country was highlighted by the BuyAssociation website as a location that offered that offered guaranteed sunshine all year round.

Along with its wide range of leisure attractions, its favourable climate was said to have helped turn it into a popular holiday destination during the winter months

Paul Collins, overseas property editor at BuyAssociation, commented: "Egypt combines history and tradition with some fantastic modern resort developments that attract visitors from across the world."

He added that the growth of low-cost airlines had changed how consumers picked their holiday destinations, thereby helping to make second home ownership more common.

Mr Collins described owning a foreign property as a lifestyle decision that was becoming "the norm" among British people.

According to Datamonitor, people from the UK and Ireland collectively owned £44.4 billion worth of property overseas by the end of 2006.

Egypt attracts Christmas tourists

Fri, 21 Dec 2007 00:00:00 GMT

Overseas property investors could be set to benefit from a strong tourist trade in Egypt over Christmas.

According to Chris Sanders, head of aviation development at Newcastle Airport, the north African country is highly popular among Britons.

Speaking to the Northumberland Gazette, he stated people from the UK were increasingly opting to spend the Christmas period in an exotic and sunny location overseas.

Egypt was named as one of the most popular tourist spots at this time of year, which suggests that holiday accommodation is in strong demand over the festive season.

Mr Sanders commented: "More and more people are choosing to go away for Christmas and the New Year, whether it be to join friends and family or simply to catch some winter sun."

The good weather in Egypt was recently cited by BuyAssociation as one of the main reasons for its appeal to tourists and property buyers.

According to the web portal, the climate is "virtually guaranteed" to be warm and sunny.

Egypt 'popular with investors'

Thu, 8 Nov 2007 00:00:00 GMT

Overseas investors are increasingly choosing to purchase property in Egypt, according to an expert.

Paul Collins from the BuyAssociation website highlighted the growing popularity of the north African country, attributing it partly to its good weather.

He stated that the climate was "virtually guaranteed" to be warm and sunny in Egypt, making it popular with both property buyers and holidaymakers.

Sharm El Sheik was said to be a particularly appealing to foreign visitors, as it had a range of tourist attractions such as undersea diving and golf course.

Mr Collins went on to praise the high quality of Egyptian properties, as well as their relative affordability.

He commented: "Property is very, very cheap in comparison with other places where you have similar facilities and similar climates."

Meanwhile, the country's tourist market has received a further boost from the late pharaoh King Tutankhamun.

The remains of the legendary Egyptian ruler have been placed on public display exactly 85 years after their discovery.

Egypt recommended to winter sunseekers

Thu, 27 Sep 2007 00:00:00 GMT

Aspiring property investors have been advised to enter the Egyptian market in order to enjoy sunny weather over winter.

UK newspaper the Telegraph said that the country offered sunshine and warm temperatures all year round, making it ideal for people hoping to get away over the holiday season at the end of the year.

In addition, it was described as a good investment opportunity because the government was aiming to increase the number of visitors to the country.

The publication stated that it was aiming to achieve this by building more accommodation and attracting overseas property investors.

Cape Verde was also recommended as a possible destination for winter sunseekers, as it also has a good climate for 12 months of the year.

Earlier this week, GEM Estates said the islands, which are located off the west African coast, had an average annual temperature of 25 degrees Celsius.

Overseas retirement boosted by improved flights

Mon, 9 Jul 2007 00:00:00 GMT

The increased availability of better air travel is helping fuel an increase in overseas retirement, giving many property investors the opportunity to fly abroad at their own convenience.

Research carried out by Saga suggests that the availability of good long-haul flights is making retirement in supposedly "far flung" destinations more of a reality for many Brits, taking advantage of better global air travel links.

A spokesperson for Saga highlights a range of destinations as showing new signs of popularity, including South Africa, New Zealand and China.

"A third of the over 50s were more concerned today about the quality and length of their holiday than they were when they were younger," she commented.

More people are choosing to fly further afield because they can fly in a better class or stay in a more "luxury", she said.

Investors Provident reports that locations such as Morocco and Egypt are becoming increasingly popular among UK investors, offering cheaper property and relatively quick returns.

Egypt an 'emerging market' for investors

Wed, 21 Mar 2007 00:00:00 GMT

Investors looking to make a healthy profit from overseas property investment should look to newly developing markets where demand outweighs supply, such as Egypt.

This is the view of Adrian McDermott, managing director of Escapes2, who said that countries where the economy is expanding and the government welcomes foreign investment represent the best opportunities for buyers.

"Every market has supply and demand cycles. So the key for investors is the need to spot a country where demand is rising and supply is limited," he commented.

He said that Egypt is one of these emerging markets and remarked that investors have been keen to return to that country to augment their portfolios.

"If you can find a country such as that, get in there in the early stages and then you will tend to make a good return on your capital in the majority of cases," he added.

Experts at the recent Homebuyer Show said that the most popular location in Egypt for investors is along the Red Sea coast, especially Sharm El Sheikh.

Egypt offers excellent returns, says expert

Fri, 16 Mar 2007 00:00:00 GMT

The property market in Egypt is expected to grow considerably over the next few years, one expert has said.

According to Jeannette Bradbury, managing director of Egyptian Experience, overseas homes in Egypt are set to be a top property investment for UK investors.

Around 300,000 Brits holiday in Egypt every year and many decide to buy properties in coastal resorts by the Mediterranean and Red Sea.

"We expect the property market in Egypt to grow substantially in the next few years," she commented.

"After many years of economic reform the area is ripe for investment. With record levels of tourism, the property market in Egypt offers excellent investment returns, from both rental yields and property price rises."

According to the recent Homebuyer Show, house prices in Egypt grew 50 per cent over the last two years, with 20 per cent growth forecast for 2007.

10% Discount for IPIN members at Ocean Breeze!

Wed, 17 Jan 2007 00:00:00 GMT

Ocean Breeze Resort, Egypt

10% discount until end February

Following on from our launch of the grand Sahl Hasheesh resort on Egypt’s Red Sea Coast last month, we are pleased to offer some fantastic prices for our clients on the Ocean Breeze project. We are offering 10% discount on any Ocean Breeze unit so long as it is reserved before 28th February 2007. Prices start at €85,700 (approx £58,000) for a 1 bedroom apartment and go up to €509,000 (approx £343,000) for a 4 bedroom luxury villa, plus the 10% discount of course!

Today Sahl Hasheesh is Egypt’s most important ongoing construction project, with millions already having been spent on construction and the corresponding infrastructure. In addition to its seafront location, a new marina, hotels, commercial centre, sports facilities, golf courses, diving centres and a unique sunken temple for divers are just some of the spectacular on site features that await purchasers. The resort will be easily accessible with direct flights between Hurghada Airport and many destinations across Europe.

Why not start the new year with an inspection trip to Sahl Hasheesh’s Ocean Breeze resort and be amongst the IPIN investors to see the highest short term gains ever seen within the network. Simply contact an IPIN advisor who will help you arrange your trip.

Click here for more information