Egyptian property will 'outperform neighbouring countries'

Individuals looking for real estate in Middle East and North African destinations would do well to consider the Egyptian property market, a new report has suggested.

According to Property Abroad, Credit Suisse has predicted that housing stocks in the region will outperform neighbouring countries and offer investors the best possible returns.

It is expected that the strong growth will be a direct result of demand for domestic housing, which will filter through into developers' sales this coming year.

Areas of the country which the international bank expects to do especially well include Cairo, where occupancy rates will remain at almost 100 per cent, and also the popular tourist destinations of Hurghada and Sharm el Sheikh.

Both the Red Sea Riviera cities have proved to be popular spots for investment for foreign buyers, with many looking to capitalise on their current relatively low prices.

A recent article by Gulf News suggested that an increasing number of investors are realising the potential Egypt has, with its strong GDP growth appearing attractive.

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