Egypt 'offers affordable house prices'

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.


 

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