Egypt poised for property market recovery

The Egyptian housing market could be poised for a recovery in 2010, according to property experts.

A report by Global Property Guide has claimed that there is likely to be "considerable movement" in the Egyptian property market during the coming year with new construction projects and continuing economic development at the forefront of the recovery.

It states that despite a disappointing year for the country's market in 2009, which saw a massive fall in demand, recovery is likely to be on the cards.

The website has recommended three hotspots for prospective buyers - Cairo, the Red Sea, and the Mediterranean Coast - offering the best opportunities thanks to continued development and good transport links.

Furthermore, the northern shores of Egypt are to become more accessible this summer as Thomson Airways launches direct flights to the area from Manchester and Gatwick airports.

The travel carrier has already announced that it is increasing the number of flights it offers to Egypt from Durham Tees Valley airport.

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