Egypt 'offers strong investment potential'

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.