Egypt 'offers non-eurozone advantages'

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.