'Discounts available' for Egypt property

An overseas property agency is offering discounts on homes in the Hurghada region of Egypt for a limited time, it has emerged.

Uncover Egypt has property available for purchase in the Khasmin Resort, with prices starting at GBP18,908 as part of an offer applicable until December 1st.

The firm notes that the resort's water sports offerings - which include sailing, diving and snorkelling - along with its nightlife, make the area a popular destination, a fact that may be of interest to overseas property investors.

Managing director of Uncover Egypt Amanda Clarke noted that sales in the country are on the increase.

"Many buyers [are] taking advantage of the low purchase costs and tax benefits that are associated with buying property in Egypt," she remarked, adding that Hurghada is becoming popular as property there is is "a relatively low cost investment".

Property Wire recently identified Egypt as one country that has potential for investors in 2009.

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