Real Estate & Travel News in Egypt from Propertyshowrooms.com

Investors look for opportunities in Egypt

Tue, 10 May 2011 00:00:00 GMT

Savvy investors are looking to take advantage of the opportunities that have presented themselves within the Egyptian property market.

In the wake of recent political upheaval in the country, buyers are finding that they can purchase real estate within popular tourist resorts at a reduced cost.

"The most long-sighted investors will turn events as have occurred in Egypt into an opportunity,” Steven Worboys, managing director of Experience International, said.

He claims that there has never been a better time to invest in real estate in resorts such as Sharm el Sheikh as a result of the low Egyptian pound.

Agents operating in the country have observed steady sales throughout February and an upward trend in March.

Egyptian property prices have not dropped and some developments are set to increase their prices as they finish the first phase of construction, the firm added.

It follows a report from Jones Lang LaSalle which claimed that the long-term outlook for the Egyptian property market was positive.

Sales and enquiries up in Egypt

Thu, 7 Apr 2011 00:00:00 GMT

Following the political and civil unrest in Egypt, enquiries and sales in the country have returned to normal levels, according to the managing director of Colordarcy.

According to the consultancy, a number of developers in the region have not had to drop their prices as a result of the problems.

Speaking to Overseas Property Professional, Loxley McKenzie said that the market initially saw a fall in interest from investors, with many concerned about the effect that the riots would have on prices.

However, once everything had settled down, he noted that the "true resilience of investors became apparent".

The expert added that as the number of international enquiries and sales rises, there has also been a shift towards investor type enquiries with them outnumbering lifestyle buyer enquiries.

"The outlook became more positive than negative as the scope for an investment opportunity presented itself and investors began searching for great deals," Mr McKenzie said.

Meanwhile, recent research conducted by Easyvoyage has found that Brits are increasingly turning to Egypt as a holiday destination thanks to its climate and affordability.

Egyptian tourism market set to bounce back

Tue, 29 Mar 2011 00:00:00 GMT

The property market in Egypt could be set to improve following recent unrest in the North African country.

Recent research conducted by Easyvoyage has found that Brits are increasingly turning to Egypt as a holiday destination thanks to its climate and affordability.

The news could also have a knock-on effect on the Egyptian property market, with an increase in visitors helping to push prices up. Industry experts claimed that increased stability is the major driver towards improved visitor numbers.

Founding president of Easyvoyage, Jean-Pierre Nadir, commented: "Britons, especially those travelling with children are always on the lookout for new destinations but as always, the price tag is incredibly important.

"Our survey shows that Egypt will bounce back relatively quickly, helped by the fact that the popular Red Sea resorts remain largely unaffected."

Meanwhile, according to Larry Seruma, managing principal at Nile Capital Management, the new political regime in the country will lead to an increase in market transparency and economic growth.

Political unrest hits property sales in Egypt

Wed, 16 Feb 2011 00:00:00 GMT

Searches for property in Egypt have declined sharply since the political unrest in the country, real estate portal Homesgofast.com has reported.

However, the website believes that it will not be long before Egypt's Red Sea resorts return to their position as a popular emerging market for individuals looking to buy overseas property.

Nicholas Marr, director of the company, commented: "Investors are clearly sitting on their hands until they can see a clearer picture of the political situation in Egypt.

"President Mubarak's departure this week will be seen by potential buyers as a step in the right direction."

For many industry experts, the recent political upheavals in Egypt have underlined how important political stability can be when deciding whether or not to buy in an emerging market.

According to Homesgofast.com, low prices, agreeable weather and ease of access from the UK will ensure that the tourism and property market in the country recovers fully.

'Value for money' offered in Egypt

Fri, 28 Jan 2011 00:00:00 GMT

Egypt offers visitors excellent "value for money" and is one of the few long-haul destinations around the world where sterling has strengthened.

According to the country's tourism board, visitors will find that their money is able to go further on a trip to the North African destination.

In addition, the Holiday Money Report, published the Post Office Travel Money, revealed that sterling has strengthened compared to last year, which may also interest those looking to buy property in Egypt.

Khaled Ramy, director UK and Ireland of the Egyptian State Tourist Office, said: "The numbers for December show an increase in British holiday makers travelling to Egypt of more than six per cent compared to December 2009.

"The total number of Brits visiting Egypt during 2010 was more then 1.4 million with an increase of eight per cent compared to 2009."

Meanwhile, property agent Colordarcy recently claimed that a rapidly growing tourism market in Egypt helped to bolster the country's property market last year.

Egypt posts successful half-year tourism figures

Tue, 13 Jul 2010 00:00:00 GMT

Egypt has managed to weather the storm and remain unaffected by the credit crunch and eurozone debt crisis, it has been claimed.

According to the country's tourism minister, Zoheir Garrana, tourism revenue has grown by 18 per cent in the first half of 2010 compared to the same period last year.

It takes the total revenue to USD5.58 billion over the timeframe, with the hope of reaching USD13 billion by the end of 2010.

Steven Worboys, managing director of Experience International, explains that many European countries had been hit hardest by the global economic crises.

"Holidaymakers are now focused on finding the best deals available, often looking further afield than usual to non-eurozone countries such as Egypt where their money goes further," he adds.

"It's certainly encouraging to see that tourism revenues are up and that the sector is accounting for 11 per cent of GDP."

The news may interest individuals looking to find property in Muhafazat al Bahr al Ahmar, with the destination home to the popular tourist spot of Hurghada.

Dive tourism attracting visitors to Egypt

Wed, 19 May 2010 00:00:00 GMT

Property investors in Egypt will be pleased to hear that the destination is attracting greater interest from holidaymakers looking to go on a diving holiday.

The destination benefits from crystal clear waters and attractive coral reefs which have been drawing millions of divers each year.

According to the World Tourism Association, dive tourism is now recognised as one of the fastest growing sectors and as such, demand for homes in popular regions could also be set to rise.

Steven Worboys, managing director of Experience International, explained that the activity was a key factor in the success of resorts such as Hurghada, Sharm el Sheikh and Sahl Hasheesh.

"Due to the unique marine environment it is possible to step from the sandy shores straight into pristine coral reefs," he added.

"It is for this reason that more and more people are looking for a permanent base in the area, a second property which they can use at their leisure to pursue their hobby but also rent out to other diving aficionados."

The Red Sea resort of Hurghada in Egypt will benefit from a new terminal being built at its international airport, with annual visitor numbers expected to grow from 6.7 million to 7.5 million.

History and culture draw tourists to Egypt

Thu, 25 Feb 2010 00:00:00 GMT

Middle Eastern countries such as Egypt attract an increasing amount of return visitors, it has been claimed.

In news that is likely to interest individuals with property in the region, Tom Hall, travel editor at Lonely Planet, has said that the culture and history of places like Egypt is drawing tourists.

He explained: "Middle Eastern countries do have a strong pull for European travellers because they do offer an adventure, genuine hospitality and incredible history.

"We have seen people going to Turkey and Egypt more and more and once people have had a taste of Middle Eastern culture they tend to want to do more."

According to a report by Global Property Guide, the Egyptian property market is likely to witness "considerable movement" in the coming year.

Meanwhile, tourism to the country's northern shores received a boost after Thomson Airways announced it was launching direct flights to the area from Manchester, Gatwick and Durham Tees Valley airports.

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.

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.

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.

Egyptian tourism set to boost rental demand

Wed, 14 May 2008 00:00:00 GMT

Rental accommodation in Egypt is set to be in strong demand this summer, it has emerged.

According to TUI Travel, the north African country is proving to be one of the most popular destinations for British holidaymakers this year.

The firm added that people's appetite for travelling abroad has not been negatively affected by the recent problems in the global economy, such as the credit crunch and increases in the cost of living.

Peter Long, chief executive of TUI, said trading conditions are "buoyant" and that sales are up on last year.

This suggests that some owners of rental accommodation in Egypt could be set to see increased demand for their services over the summer.

Mr Long commented: "We see no evidence of deteriorating consumer sentiment in our booking patterns, in the average holiday duration booked, average selling price or cancellation rates."

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

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 recommended to British tourists

Fri, 9 May 2008 00:00:00 GMT

British consumers who want to avoid the eurozone this year have been advised to visit Egypt.

The north African country was flagged up by the Guardian as a possible destination for holidaymakers who wish to take advantage of more favourable exchange rates.

Since the current weakness of the pound against the euro has led to traditional hotspots such as Spain becoming more expensive, the newspaper believes Egypt could be a good alternative for prudent tourists.

The publication added that visiting a cheaper destination means that those who are feeling the pinch of the credit crisis will not have to cancel their annual summer break.

"Sterling still converts nicely," the Guardian commented.

"Perhaps rather than calling the whole thing off, now is the time to experiment."

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

The current weakness of the pound against the euro was cited as one of the main reasons for this increase.

Save money outside eurozone, tourists are told

Mon, 28 Apr 2008 00:00:00 GMT

British consumers have been advised to consider heading outside the eurozone for their summer holidays.

Holiday-Rentals stated that if leisure travellers visit countries which are not in the single European currency, they could get more for their money.

This is because the pound is currently at a record low against the euro, which is itself 17 per cent stronger than it was a year ago.

As a result, the cost of a trip to traditional holiday destinations such as France is likely to be relatively high.

Holiday-Rentals commented: "Travelling to western Europe will be at its most expensive this summer.

"It may be worth looking beyond the usual haunts and outside the eurozone."

North African countries including Egypt and Morocco were highlighted as potential options for holidaymakers, along with eastern European nations such as Croatia.

This comes after currency specialist Travelex stated that leisure travellers are becoming "increasingly savvy" with regards to financial fluctuations and taking them into account when booking trips abroad.

Britons escape for sunnier climes

Fri, 28 Mar 2008 00:00:00 GMT

A large number of people from the UK are set to fly to hot and sunny locations overseas next month, a travel firm has revealed.

Lastminute.com stated that some schools are offering staggered school holidays because Easter was relatively early this year.

Since this means many families have a break in April in the wake of the recent Bank Holiday weekend, some are choosing to spend this time away from the poor weather at home.

John Bevan, managing director of Lastminute.com, observed: "The unusually cold weather has led to incredible demand for late Easter sun holidays."

Egypt was highlighted as one of the most popular destinations for spring holidaymakers, in particular the Sharm-el Sheikh resort.

The Turkish resorts of Bodrum and Antalya were flagged up as further hotspots for British travellers.

Earlier this month, research by Holiday Inn found that many people are choosing to stagger their holidays throughout the year.

The company said this can be more cost-effective than travelling abroad during the peak tourist season.

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.

Germans 'take holidays in Egypt'

Wed, 23 Jan 2008 00:00:00 GMT

Egypt is becoming an increasingly popular holiday destination among German leisure travellers, new research has found.

A survey by Urlaub Perfekt magazine found that the north African country was becoming a hotspot for holidaymakers from Germany.

In fact, Egypt was the only country outside of Europe that made into a list of the five most popular tourist destinations.

The country's appeal was measured with a number of criteria, such as its affordability to visitors and the quality of its rental accommodation.

Urlaub Perfekt also asked respondents to consider issues such as customer service and the suitability of each destination for family holidays.

According to the BuyAssociation website, Egypt is especially popular with people who want to enjoy warm temperatures during the winter months.

The online portal stated that its weather was "guaranteed" to be good for the whole year, therefore making it a good option for foreign property buyers to consider.

UK Tourists Head For Egypt

Mon, 14 Jan 2008 00:00:00 GMT

Many British holidaymakers are choosing to leave Europe in search of some winter sun, it has been revealed.

Online travel agency Lastminute.com said that countries such as Egypt were proving to be highly popular with those who wanted warm temperatures in January, as it had guaranteed sunshine all year round.

John Bevan, managing director of the firm, added that the country could be reached from the UK in a relatively short space of time, further enhancing its appeal to sun-seekers.

He commented: "A miserable January, together with the return to work, have prompted many people to start planning their escape to grab some winter sun."

Speaking to the Daily Mail, he added that Lastminute.com had seen a 38 per cent increase in holiday bookings since the start of the year.

Egypt's appeal to British tourists could make it an ideal place for overseas property investors, especially those looking to purchase rental accommodation.

This view was expressed by the BuyAssociation website, which said it was one of the most popular winter sun destinations.

North Africa recommended to winter sun-seekers

Mon, 26 Nov 2007 00:00:00 GMT

Holidaymakers who want to experience warm temperatures this winter have been advised to visit North Africa.

The region was highlighted by the Sun newspaper as a place that warm temperatures all-year-round.

This, it stated, made it a suitable destination for those people who were tempted to fly abroad this winter in order to escape the British climate.

Egypt and Morocco were said to be particularly good countries to visit, as they offered a number of leisure attractions.

In addition, the newspaper said they had become increasingly popular with winter sun-seekers in recent years.

The Sun commented: "With year-round good weather, fantastic beaches and plenty to see and do, it's not hard to see why places Egypt and Morocco are favourites with us Brits.

According to Co-operative Travel, more than three million people from the UK are expected to travel abroad this Christmas - 11 per cent more than last year.

Egypt records increase in visitor numbers

Tue, 9 Oct 2007 00:00:00 GMT

The number of people choosing to take their holidays in Egypt has gone up this year, according to new figures.

Official figures cited by state news agency Mena showed that tourist numbers rose to 9.7 million in 2006, an increase of 13 per cent on the previous year.

However, the news provider stated that the country's government wanted to boost this number further, setting a target of 14 million tourists per year before 2011.

In order to help achieve this goal, the government has announced that it will invest in new facilities for tourists, such as shopping centres and leisure outlets.

This could also help boost the number of people investing in the Egyptian property market, as factors such as demand and increased tourism could lead to a surge in values.

Recently, the Telegraph newspaper highlighted the investment potential of Egypt, saying that its suitability as a holiday destination all year round made it a good option for foreign property buyers.

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.