Egyptian house prices praised by expat

An expatriate from the UK has praised the relative affordability of luxury homes in Egypt.

According to Mark Millson, originally from Aberdeen, property buyers can far more for their money in the African nation.

He told the Sunday Mail that a house along the Red Sea coast, complete with a swimming pool, large garden and four bedrooms, can cost about £92,000.

This, he stated, is "just about" the amount that would be needed to buy a one-bedroom ex-council flat in Aberdeen.

Mr Millson commented: "Making a permanent move to Egypt has been one of the best decisions I've ever made.

"I've just fallen in love with the place."

He added that rising house prices in the country mean he is already benefiting from capital appreciation in his home.

Earlier this month, 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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