Egypt in property intentions boost

The property market in Egypt has been given a boost by a poll suggesting that people on middle or higher incomes believe 2010 could be a good time to move into a new home.

Market research firm Synovate found that 21 per cent of such people in the domestic market are hoping to soon be living in a different house, something that could make the market very active.

In addition to this, 75 per cent said lower prices should make 2010 a good year to invest in Egyptian property.

Such a view may encourage overseas buyers, such as Britons thinking of purchasing in the country.

Egypt was recently identified as a good place in which to buy for the long term.

A report by international real estate firm Jones Lang LaSalle said Cairo was one of the best locations in the Middle East and north Africa region for such acquisitions.
 

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