House prices on the up in Egypt

Owners of property in Egypt may be able to make a healthy profit if they sell up at a future date.

Al-Ahram Weekly has revealed that the country 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.

Therefore, property investors who choose to invest in the country could find that their residence is soon worth more than the amount they first bought it for.

Al-Ahram Weekly added that many foreign buyers are choosing to buy holiday homes along the coastline.

Resorts along the Mediterranean were said to be very popular, as well as towns on Egypt's Red Sea Coast.

According to Property Wire, the African country is proving to be very popular because it offers relatively low house prices.

The news provider said residences in areas such as the Red Sea cost far less than comparable houses in Europe, with some selling for less than £50,000.
 

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