Real Estate & Property Investment News in Egypt from Propertyshowrooms.com

Hotels 'a target' for property investors in Egypt

Thu, 6 Oct 2011 00:00:00 GMT

Property investors from the Middle East are keen to invest their money in residential real estate and hotels, the 2011 Colliers International Global Investor Sentiment Survey has revealed.

According to the research, hotels in particular will be a target in Egypt due to the country's robust tourism sector.

John Davis, chief executive officer at Colliers International, commented that many investors will be waiting to learn the result of the elections and see if a new government can bring more stability to the nation.

However, he added: "Their conviction in the country's long-term fundamentals, especially in the tourism sector, will likely drive opportunistic acquisitions of hotel assets."

Office space in Egypt is another asset type that looks set to attract investors over the coming months, the survey found.

Many respondents from the country believe that demand for such properties is set to grow, particularly in New Cairo, with businesses seemingly keen to leave downtown Cairo in favour of this location.

Overcrowding and pollution in the downtown district were cited as the two main reasons that firms would want to move to an office in New Cario.

Shortfall of affordable housing in Egypt

Tue, 20 Sep 2011 00:00:00 GMT

A new survey of the Middle East and North Africa (MENA) region has revealed that Egypt has a chronic shortage of affordable housing.

The nation was named as having the greatest lack of supply of this kind of property by Jones Lang LaSalle, with the firm estimating that a further 1.5 million such homes are required to meet the needs of the country's population.

Craig Plumb, head of research MENA at the company, told Arabian Business that "this is the greatest opportunity that the development industry has at the moment".

He explained that more public private partnerships could help boost the supply of affordable properties in Egypt, stressing that more developers in the Gulf region are likely to get involved in such projects.

The Jones Lang LaSalle report cited several factors that are holding back development at the bottom end of the housing market, including the relatively low returns compared to the luxury real estate sector, as well as the scarcity of affordable land, limited access to finance for low-income households and the expense of installing infrastructure and public transport networks.

Egypt establishes committee to deal with land sales issues

Thu, 15 Sep 2011 00:00:00 GMT

In an attempt to boost confidence among real estate investors, the Egyptian government has established a committee to look into issues relating to the sale of land and property in the country.

According to a report in PropertyWire, one of the main areas of focus for the panel will be the price at which land was sold under the regime of former president Hosni Mubarak.

There are claims that certain sites were offered at a low price to Egyptian developers, which has caused problems among foreign companies hoping to enter the country's real estate market.

An official from the committee told the publication that they are trying "to reach a fair settlement by which investment will be safe and the contract respected and at the same time give the government and country their rights".

Confidence in Egypt's property sector has been shaky since the revolution in February this year ousted the incumbent leader.

Mr Mubarak and many of his government officials have since been arrested - and some of them charged with corruption.

Egypt 'a good option' for property investment

Thu, 30 Jun 2011 00:00:00 GMT

One expert has claimed that Egypt could be a good bet for anyone seeking an overseas property investment.

Director and founder of Rogue Property David Freeman stated that the north African nation is "definitely a place I'd recommend".

He noted that Sharm el Sheikh, a Red Sea resort in the Sinai Peninsula, has some developments that are worth considering and added that its popularity as a tourist destination enhances its appeal.

Meanwhile, a report in the Financial Times earlier this week revealed that construction activity in Egypt has slowed considerably since the revolution that took place in January this year.

With less stock being added to the Egyptian real estate market, investors may decide that now is a good time to make a purchase.

Hassan Allam, managing director of Hassan Allam Construction, told the publication that many people are holding back until the results of the elections - which are due to take place in September 2011.

Egyptian development gets go-ahead

Wed, 8 Jun 2011 00:00:00 GMT

Demand for property in Egypt could be set to rise following news that a major developer in the country is planning to push ahead with plans to build a new 3.5 million square metre housing project.

Named Tigan, the development is worth approximately $3.4 billion and will be completed by Nasr City Housing.

The project went on hold during the recent political uprising in Egypt, but is now about to go back into action, Overseas Property Professional reports.

Meanwhile, it was recently claimed that savvy investors are looking to take advantage of the opportunities that have presented themselves within the Egyptian property market.

Steven Worboys, managing director of Experience International, explained that in the wake of recent political upheaval in the country, buyers are finding that they can purchase real estate within popular tourist resorts at a reduced cost.

"The most long-sighted investors will turn events as have occurred in Egypt into an opportunity," he noted.

Investors look for opportunities in Egypt

Tue, 10 May 2011 00:00:00 GMT

Savvy investors are looking to take advantage of the opportunities that have presented themselves within the Egyptian property market.

In the wake of recent political upheaval in the country, buyers are finding that they can purchase real estate within popular tourist resorts at a reduced cost.

"The most long-sighted investors will turn events as have occurred in Egypt into an opportunity,” Steven Worboys, managing director of Experience International, said.

He claims that there has never been a better time to invest in real estate in resorts such as Sharm el Sheikh as a result of the low Egyptian pound.

Agents operating in the country have observed steady sales throughout February and an upward trend in March.

Egyptian property prices have not dropped and some developments are set to increase their prices as they finish the first phase of construction, the firm added.

It follows a report from Jones Lang LaSalle which claimed that the long-term outlook for the Egyptian property market was positive.

Egyptian property market to be 'subdued' in 2011

Wed, 13 Apr 2011 00:00:00 GMT

Recent political upheaval in Egypt means that the country's property market is unlikely to attract a great deal of foreign investment in 2011.

But the long-term outlook for the market is more positive, the latest report from consultancy Jones Lang LaSalle (JLL) has claimed.

JLL explained that short-term activity in Cairo will remain subdued, with much uncertainty remaining in the market post-revolution. However, analysts are more upbeat about the medium to long-term forecast.

"2011 could therefore represent something of a lost year with decisions to lease or purchase real estate delayed until the 'dust settles' and greater certainty returns to the market after the elections later in the year," the consultancy said.

Indeed, with the first half of the year expected to yield little activity, JLL has claimed that the tourism industry will lead the rebound.

"Egypt was and will remain as one of the most attractive real estate markets in the MENA region in terms of its potential long term opportunities, growth and diversity," it added.

Long-term outlook for Egypt 'positive'

Tue, 12 Apr 2011 00:00:00 GMT

The property market in Cairo has retained the basic fundamentals which made it a success, despite the recent political and social troubles.

According to a recent report by Jones Lang LaSalle (JLL), the Egyptian property market looks set to deliver reasonable returns in the medium to long-term.

The real estate consultancy noted that the North African country could even emerge from the troubles stronger than before as a result of greater market transparency and the introduction of more business friendly policies.

"Despite the negative short term economic impact of the recent revolution, Egypt's economy will continue to grow," Ayman Sami, head of the Egypt office for JLL, said.

"In the short term, real estate activity in Cairo will remain depressed due to the on-going uncertainties dominating the post-revolution period,"

Mr Sami added that local demand was expected to be the primary driver of growth within the market, with the ability to negotiate "more attractive" deals helping to ensure that Cairo remains the "flag bearer" of the country's real estate industry.

Sales and enquiries up in Egypt

Thu, 7 Apr 2011 00:00:00 GMT

Following the political and civil unrest in Egypt, enquiries and sales in the country have returned to normal levels, according to the managing director of Colordarcy.

According to the consultancy, a number of developers in the region have not had to drop their prices as a result of the problems.

Speaking to Overseas Property Professional, Loxley McKenzie said that the market initially saw a fall in interest from investors, with many concerned about the effect that the riots would have on prices.

However, once everything had settled down, he noted that the "true resilience of investors became apparent".

The expert added that as the number of international enquiries and sales rises, there has also been a shift towards investor type enquiries with them outnumbering lifestyle buyer enquiries.

"The outlook became more positive than negative as the scope for an investment opportunity presented itself and investors began searching for great deals," Mr McKenzie said.

Meanwhile, recent research conducted by Easyvoyage has found that Brits are increasingly turning to Egypt as a holiday destination thanks to its climate and affordability.

Egyptian tourism market set to bounce back

Tue, 29 Mar 2011 00:00:00 GMT

The property market in Egypt could be set to improve following recent unrest in the North African country.

Recent research conducted by Easyvoyage has found that Brits are increasingly turning to Egypt as a holiday destination thanks to its climate and affordability.

The news could also have a knock-on effect on the Egyptian property market, with an increase in visitors helping to push prices up. Industry experts claimed that increased stability is the major driver towards improved visitor numbers.

Founding president of Easyvoyage, Jean-Pierre Nadir, commented: "Britons, especially those travelling with children are always on the lookout for new destinations but as always, the price tag is incredibly important.

"Our survey shows that Egypt will bounce back relatively quickly, helped by the fact that the popular Red Sea resorts remain largely unaffected."

Meanwhile, according to Larry Seruma, managing principal at Nile Capital Management, the new political regime in the country will lead to an increase in market transparency and economic growth.

Egypt set for post-Mubarak growth

Thu, 10 Mar 2011 00:00:00 GMT

Demand for property in Egypt could be set to rise as economic growth flourishes in a post-Mubarak era, it has been claimed.

This is according to Larry Seruma, managing principal at Nile Capital Management, who believes that a new regime will lead to an increase in market transparency.

His comments follow the knee-jerk reaction of many investors to sell the assets they held in the country fearing the worst at the height of the political crisis.

"There will be democracy and transparency and these changes will lead to more economic growth," Mr Seruma told Select Property. "It's a great opportunity to invest in Egypt."

Indeed, the news provider noted that the unrest in Egypt has in fact presented savvy investors with a great opportunity to buy.

"The immediate effect of the revolution was for share prices to drop, which some savvy investors have used to their advantage to buy up stocks in emerging market funds to pre-empt the predicted Egyptian growth," the article stated.

Political unrest hits property sales in Egypt

Wed, 16 Feb 2011 00:00:00 GMT

Searches for property in Egypt have declined sharply since the political unrest in the country, real estate portal Homesgofast.com has reported.

However, the website believes that it will not be long before Egypt's Red Sea resorts return to their position as a popular emerging market for individuals looking to buy overseas property.

Nicholas Marr, director of the company, commented: "Investors are clearly sitting on their hands until they can see a clearer picture of the political situation in Egypt.

"President Mubarak's departure this week will be seen by potential buyers as a step in the right direction."

For many industry experts, the recent political upheavals in Egypt have underlined how important political stability can be when deciding whether or not to buy in an emerging market.

According to Homesgofast.com, low prices, agreeable weather and ease of access from the UK will ensure that the tourism and property market in the country recovers fully.

'Value for money' offered in Egypt

Fri, 28 Jan 2011 00:00:00 GMT

Egypt offers visitors excellent "value for money" and is one of the few long-haul destinations around the world where sterling has strengthened.

According to the country's tourism board, visitors will find that their money is able to go further on a trip to the North African destination.

In addition, the Holiday Money Report, published the Post Office Travel Money, revealed that sterling has strengthened compared to last year, which may also interest those looking to buy property in Egypt.

Khaled Ramy, director UK and Ireland of the Egyptian State Tourist Office, said: "The numbers for December show an increase in British holiday makers travelling to Egypt of more than six per cent compared to December 2009.

"The total number of Brits visiting Egypt during 2010 was more then 1.4 million with an increase of eight per cent compared to 2009."

Meanwhile, property agent Colordarcy recently claimed that a rapidly growing tourism market in Egypt helped to bolster the country's property market last year.

Tourism boosting Egyptian property

Wed, 26 Jan 2011 00:00:00 GMT

A rapidly growing tourism market in Egypt helped to bolster the country's property market last year, it has been claimed.

Loxley McKenzie, director of property agent Colordarcy, has explained that the popularity of a number of emerging markets has been driven by savvy investors looking to get their hands on bargain homes abroad.

The news may interest those looking to buy real estate in Egypt, with many hoping to take advantage of the increasing number of visitors heading to the country.

"Egypt is doing very well for us. The majority of clients are people who have previously visited and as such, experienced some of the best diving in the world and cultural aspects," Ms McKenzie said.

"Foreign Direct Investment has also led to improvements in infrastructure. All that Egypt is missing now is mortgages to turbo-charge the market."

Meanwhile, a recent article by Stock Markets Review has claimed that Egypt has been enjoying a surge of interest of late, with many buyers attracted to its economic performance and potential for long-term gains.

Egypt proving popular with property buyers

Mon, 10 Jan 2011 00:00:00 GMT

As real estate investors increasingly shy away from the traditional eurozone destination, property in emerging markets such as Egypt has become more popular, it has been claimed.

According to an article by Stock Markets Review, the North African destination has been enjoying a surge of interest of late, with many buyers attracted to the strong economic performance and potential for long-term gains.

"The Egyptian property market has developed at an almost unparalleled rate over the course of the past three years, predominantly on the back of a huge increase in tourist visitors to the country from destinations including the UK, Russia, Germany, France and Scandinavia," the news provider noted.

Indeed, this has been further bolstered by the large-scale investment in tourist infrastructure that have been made - especially around the popular Red Sea resorts.

Individuals looking to buy property in Egypt may be interested to learn that a growing number of visitors are travelling to destinations including Sharm El Sheikh, Hurghada and Marsa Alam.

Egypt has 'lots of potential'

Tue, 14 Dec 2010 00:00:00 GMT

There is still room for growth in the Egyptian property market, according to a leading developer in the country.

Speaking to Overseas Property Professional, Orascom has suggested that the sector is still an emerging market and has a lot more "potential".

Samih Sawiris, chief executive officer of the company, explained to the news provider that the mismatch between supply and demand in the country meant that developers have not really suffered from the global economic crisis.

"While in the Red Sea area we have a 12-month season, the second home market outside of the Red Sea is totally underdeveloped. If you compare it with Morocco, Tunisia and Turkey you can see the market is a long way from saturation," he said.

Mr Sawiris added that the lack of mortgage availability was also a blessing in disguise, as it meant that the market was not flooded with distressed homes from people defaulting on them, as has happened in Spain and the US.

Egypt offers much for European investors

Wed, 27 Oct 2010 00:00:00 GMT

European investors looking for an overseas property should consider looking for real estate in Egypt, it has been suggested.

The destination offers quick and easy access from Europe as well as an idyllic year-round climate and cheap property prices, the Port Ghalib Red Sea group explained.

In particular, the body recommended looking at homes in Marsa Alam, with the region easily accessible for tourists and investors by both air and sea.

Ibrahim Saleh, spokesman for the group and vice-president of the Al Kharafi Group, said that Marsa Alam would become "one of the biggest stories in property in the next decade".

"While Hurghada and Sharm El Sheikh are known as some of the hottest destinations in the world, Marsa Alam is a new destination with low property prices and a young tourist market which is set explode in coming years," he added.

Meanwhile, according to a recent Jones Lang LaSalle survey, Egypt is one of the top destinations for investment in the Middle East and North Africa region.

Egypt top destination for Mena investors

Sat, 9 Oct 2010 00:00:00 GMT

Egypt is one of the top destinations for investment in the Middle East and North Africa (Mena) region, it has been claimed.

The country ranks just behind Saudi Arabia in terms of investor confidence, according to a recent survey of the region by Jones Lang LaSalle.

Indeed, the real estate consultant says that the surge in interest in Egypt is a reflection of the increasing activity taking place, with Middle Eastern investors doubling their investments in the first half of 2010 compared to the previous year.

Ayman Ismail, chairman of the Dal Al Mimar Group, said that Egypt's real estate sector has "robust" fundamentals adding that migration towards the bigger cities is acting as a driving force behind house purchases.

A further incentive for many investors to look at Egypt is the affordability of residential space, those looking at property in the country may be interested to know.

To this end, Mr Ismail argued that Jordan offers double Egypt’s price and Dubai offers four to five times as much.

Growing economy boosts the Egyptian property market

Fri, 24 Sep 2010 00:00:00 GMT

A return in demand from domestic and foreign buyers is contributing to a restoration in confidence in the Egyptian housing market.

Global Property Guide has claimed that both house prices and rents are beginning to rise in the country, supported by strong economic growth.

To this end, the real estate guide explained that the size of the housing market is expected to grow by about 14 per cent over the course of 2010, with property values increasing by around ten per cent by the end of the year.

Individuals looking for Egyptian property may be interested to learn that foreign demand from second homeowners is rising.

The news provider explained that this is mainly due to the country's tax-friendly laws. Current legislation prescribes that no tax will be enforced to non-resident property owners, aiming to encourage investment from overseas property buyers.

"For this market, the buying opportunities in Egypt – and particularly the newly-built opportunities - can be conceptually divided into three areas: Cairo, the Red Sea, and the Mediterranean Coast," the report said.

Egypt 'in early stages of a real estate boom'

Wed, 8 Sep 2010 00:00:00 GMT

Egypt is in the early stages of a property boom, people hoping to find property in Muhafazat al Bahr al Ahmar will be pleased to hear.

Research from Business Monitor International (BMI) highlighted that rents and capital values in the nation have risen while yields appear to have fallen.

According to the body, there has been a substantial increase in the supply of commercial property across Egypt, addressing the issue of underdevelopment which has been going on for years, and providing property investors with the opportunity to add to their portfolios.

This increase in supply is also being met by a rise in demand, coming from Western multinationals and Middle Eastern companies relocating to Egypt.

"The result is that conditions are dynamic. Vacancy rates vary, but are generally low or falling. Looking ahead, we expect that the optimism of protagonists in the office and retail sub-sectors will be justified. There should be a double-digit increase in rentals in these sub-sectors in 2011; further - if smaller - rises are likely in the following years," the report stated, adding that capital values will rise more significantly than rentals and the general downward trend in yields will continue.

Luxury hotels 'a growing market in Egyptian property'

Sat, 24 Jul 2010 00:00:00 GMT

The upmarket hotel industry offers potential to investors in property in Egypt, according to a newspaper.

Rebecca Bundham of the National reported how property investors have been able to take advantage of the fact that tourism in Egypt is now on the up, having suffered during the recession.

Adviser Ayman Sami noted that as the euro strengthens against the Egyptian pound, more people are coming from the eurozone to holiday in the country.

Fuat Koroglu, general manager of the new Kempinski Nile Hotel, told the paper that the general demographic of visitors to Egypt is shifting and that more "high end" customers are coming over to join the traditional budget travellers.

He added that many hotel properties in Egypt cater for the upper end of the market but are in need of refurbishment due to their age.

The Egyptian tourist authority promotes activities such as Nile
cruises, diving and safari trips to those taking a holiday in the country.

Additionally, there is the chance to learn about Islamic and Coptic history and culture.

Egypt posts successful half-year tourism figures

Tue, 13 Jul 2010 00:00:00 GMT

Egypt has managed to weather the storm and remain unaffected by the credit crunch and eurozone debt crisis, it has been claimed.

According to the country's tourism minister, Zoheir Garrana, tourism revenue has grown by 18 per cent in the first half of 2010 compared to the same period last year.

It takes the total revenue to USD5.58 billion over the timeframe, with the hope of reaching USD13 billion by the end of 2010.

Steven Worboys, managing director of Experience International, explains that many European countries had been hit hardest by the global economic crises.

"Holidaymakers are now focused on finding the best deals available, often looking further afield than usual to non-eurozone countries such as Egypt where their money goes further," he adds.

"It's certainly encouraging to see that tourism revenues are up and that the sector is accounting for 11 per cent of GDP."

The news may interest individuals looking to find property in Muhafazat al Bahr al Ahmar, with the destination home to the popular tourist spot of Hurghada.

Court ruling to have little impact on Egypt property purchasing

Wed, 30 Jun 2010 00:00:00 GMT

Property sales will only be affected in the short term in Egypt following a recent court ruling that revoked a land purchase.

Talaat Moustafa Group (TMGH), Egypt's largest listed property developer, had been granted permission to build on land on Cairo's outskirts.

However, an administrative court suggested that the law had been broken by the New Urban Communities Authority, which had sold the land without opening up bidding to anyone else.

Chief financial officer Jihad Sawaftah noted in a statement that he did not expect the ruling to have a major impact on the mixed residential contracts already signed.

According to Reuters, the statement added: "As far as cancellations are concerned, we have not received any new cancellation requests as a result of the court decision and in general cancellations are within the normal range of operations."

Credit Suisse recently suggested that those looking to invest in property may wish to consider Egypt as the possible returns are likely to be greater than in neighbouring countries.

New mortgage law to be introduced in Egypt

Tue, 22 Jun 2010 00:00:00 GMT

The Egyptian government is looking to boost its expanding property sector by passing a new mortgage financing law during its next parliamentary session.

Reuters has reported that the bill aims to address problems in the market, such as its conservative lending rules and bureaucratic processes, and develop a more efficient and transparent system.

According to the country's investment minister, Mahmoud Mohieldin, the draft would pass regulatory control of the property sector to the Egyptian Financial Supervisory Authority.

He explained that, under the new rules, independent investors would not be allowed to hold shares in excess of ten per cent in any fund.

"We have a complete law ready to push forward the current mortgage regulations, to have better enforcement and enhance the efficiency of the sector," he added.

If successfully passed, the law could make it easier for investors looking to find property in Muhafazat al Bahr al Ahmar to make their purchase.

Credit Suisse has predicted that housing stocks in the country will outperform neighbouring destinations, Property Abroad reported.

Egyptian property will 'outperform neighbouring countries'

Mon, 14 Jun 2010 00:00:00 GMT

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.

Egypt will be a 'top destination for investment'

Mon, 7 Jun 2010 00:00:00 GMT

Egypt has been tipped as one of the top destinations for property in the next few years, it has been reported.

Speaking to the Essex Gazette, Penny Ayers, from Keith Ashton International, explained that the country was benefitting from its growing economy and increasingly affluent middle class.

She said: "The demand for property is increasing again and it will almost certainly be one of the top overseas property investment hot spots for the next few years.

"The investment climate is widely regarded as a promising one … property by the Red Sea in Egypt continues to prove popular with investors."

It could lead to an increase in the number of investors searching to find property in Muhafazat al Bahr al Ahmar, with the destination offering real estate by the Red Sea.

According to a report earlier this year by Gulf News, many investors are beginning to realise the potential of the Egyptian property market, with strong GDP growth making it a tempting proposition.

Fractional ownership likely to be popular in Egypt

Thu, 27 May 2010 00:00:00 GMT

Fractional ownership is attracting a lot of interest from wealthy holidaymakers in the Middle East, new research has found.

According to a survey, conducted by RCI's shared ownership consultancy NorthCourse, 44 per cent of respondents were in favour of the real estate opportunity.

However, a lack of awareness of the business model was cited as a reason for putting many of those questioned off investing.

Currently, about 62 per cent of Middle Eastern shared ownership resorts can be located in Egypt.

"Over the next five years timeshare growth worldwide is expected to increase by 50 per cent but will increase more in the Gulf area," said the report.

"Although the timeshare industry in the Middle East and Africa region is in its infancy stage, it has phenomenal potential, particularly with its population of over 300 million and through the development of current mega projects."

The news could lead to an increase in people looking to find property in Muhafazat al Bahr al Ahmar, with the region home to some popular tourist destinations.

Dive tourism attracting visitors to Egypt

Wed, 19 May 2010 00:00:00 GMT

Property investors in Egypt will be pleased to hear that the destination is attracting greater interest from holidaymakers looking to go on a diving holiday.

The destination benefits from crystal clear waters and attractive coral reefs which have been drawing millions of divers each year.

According to the World Tourism Association, dive tourism is now recognised as one of the fastest growing sectors and as such, demand for homes in popular regions could also be set to rise.

Steven Worboys, managing director of Experience International, explained that the activity was a key factor in the success of resorts such as Hurghada, Sharm el Sheikh and Sahl Hasheesh.

"Due to the unique marine environment it is possible to step from the sandy shores straight into pristine coral reefs," he added.

"It is for this reason that more and more people are looking for a permanent base in the area, a second property which they can use at their leisure to pursue their hobby but also rent out to other diving aficionados."

The Red Sea resort of Hurghada in Egypt will benefit from a new terminal being built at its international airport, with annual visitor numbers expected to grow from 6.7 million to 7.5 million.

Investor confidence is benefiting Egypt's real estate market

Tue, 20 Apr 2010 00:00:00 GMT

Property markets in the Middle East and north Africa have been benefitting from a rise in investor confidence over the past six months, new research has revealed.

According to Overseas Property Professional (OPP), global real estate consultancy firm Jones Lang LaSalle has claimed that stabilisation has occurred in the regions' property markets during that timeframe.

Among the markets expected to perform strongly was Egypt, with OPP reporting that 30 per cent of those surveyed believed that the country's real estate was already in the process of recovery.

Furthermore, Egypt's "large local indigenous populations will be the drivers of real estate demand in the near term", they stated.

In addition, the majority of investors surveyed predicted that slight price increases would be enjoyed in the area over the next two years, with the maturing market and a stable atmosphere cited as the main protagonists for the growth.

The country will also benefit from a new airport terminal and more flights being offered to the region later this year.

Property market conditions in Egypt are 'ideal for growth'

Tue, 13 Apr 2010 00:00:00 GMT

The property market in Egypt has performed strongly over the last couple of years and has been given another positive outlook for the forthcoming 12 months.

An article by Middle Eastern media and technology company Al Bawaba has drawn attention to the current strength of the Egyptian market thanks to a recovering economy and population growth.

It comes in advance of a Next Move property exhibition which aims to showcase investment opportunities in the country.

Speaking to the website, Ahmed Ghozzi, chairman of joint event organiser ACG-ITF, said that current market conditions were ideal for the property sector to experience further growth.

"Egypt's property markets have been performing exceptionally well over the past two years due to steady population and business growth," he added.

"With incentives such as exemption from capital gains taxes, lower prices and close proximity to major European travel destinations, we can look forward to increased investment."

A new airport terminal and increase in the number of flights offered to the region are sure to help boost Egyptian tourism and benefit individuals who have invested in the country.

Investors seeing the potential of Egypt

Thu, 25 Mar 2010 00:00:00 GMT

Individuals are beginning to realise the potential of the Egyptian property market, with strong GDP growth making it a tempting proposition for property investment.

According to a report by Gulf News, the housing market is also set to benefit from the return of bonuses for European bankers, with the north-African destination a particular favourite among the city workers.

Peter Riddoch, chief executive of Port Ghalib Resort Co, who are involved in the country's largest development project, has claimed that canny investors are looking to the tourism hotspot in the hope of making money.

"China is showing ten per cent growth in GDP, India is at 6.8 per cent, Europe and the US are negative but Egypt is showing 5.8 per cent growth," the news provider reported.

"It's right up there with the big guns but people are only starting to realise that potential."

In addition, the Central Bank of Egypt decided, earlier this week, to keep interest rates in the country unchanged.

Lending has been frozen at 9.75 per cent while deposits currently sit at 8.25 per cent.

Potential investors may be interested to know that the country's northern shores will become more accessible this summer after Thomson Airways announced that it would be launching direct flights to the region.

Egyptian property market has been given a positive outlook

Thu, 25 Feb 2010 00:00:00 GMT

A new report has predicted "healthy long-term prospects" for the property market in Egypt, it has been announced.

The report, published by Markaz, has said that the lack of mid-price real estate in the country could lead to an overall increase in housing prices.

It looks at the country's economic cycle dating back to 1986, forecasting annual increases of six per cent until 2014-15.

Income growth is cited as the main factor in buoying the real estate market, with more individuals in better paid jobs supporting the rising demand for property.

"After going through the moderate impact of the economic slowdown, Egypt's real estate sector is expected to provide healthy long-term prospects in all of its sub-segments," the report claims.

Earlier this year, real estate and investment firm Jones Lang LaSalle claimed that Cairo's housing market was benefiting from its location and a growing economy.

It also said increasing demand for property was being fuelled by the fact that there is a major shortage of houses.

History and culture draw tourists to Egypt

Thu, 25 Feb 2010 00:00:00 GMT

Middle Eastern countries such as Egypt attract an increasing amount of return visitors, it has been claimed.

In news that is likely to interest individuals with property in the region, Tom Hall, travel editor at Lonely Planet, has said that the culture and history of places like Egypt is drawing tourists.

He explained: "Middle Eastern countries do have a strong pull for European travellers because they do offer an adventure, genuine hospitality and incredible history.

"We have seen people going to Turkey and Egypt more and more and once people have had a taste of Middle Eastern culture they tend to want to do more."

According to a report by Global Property Guide, the Egyptian property market is likely to witness "considerable movement" in the coming year.

Meanwhile, tourism to the country's northern shores received a boost after Thomson Airways announced it was launching direct flights to the area from Manchester, Gatwick and Durham Tees Valley airports.

Egypt poised for property market recovery

Tue, 23 Feb 2010 00:00:00 GMT

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.

Eco-boost for Egyptian resort

Fri, 12 Feb 2010 00:00:00 GMT

Popular Egyptian resort Sharm el-Sheikh is putting eco-friendly plans at the forefront of its tourism scheme, it has been announced.

Overseas Property Professional has reported that the Egyptian government is trying to capitalise on the eco-tourism market, with more people planning their holidays in environmentally friendly destinations.

Individuals with property in the country may wish to hear that a total of USD238 million is being pledged to the resort, with the plan of becoming carbon-neutral by 2020.

Jeff Dickinson, managing director of property agent and developer Pioneer Property, told Overseas Property Professional that the move was representative of positive intentions by the government to the long-term future of the resort.

He continued: "As the awareness grows about the issue globally, more people will start to think about the how these things will affect them and the destination."

"In such a beautiful destination the environment is paramount to its success and should be well taken care for generations to come."

Sharm el-Sheikh is home to Little Buddha, a sushi restaurant, nightclub and bar credited as having the longest continuous bar in the Middle East.

Egypt to become more accessible for tourists

Wed, 10 Feb 2010 00:00:00 GMT

The northern shores of Egypt are to become more accessible this summer as Thomson Airways launches direct flights to the area.

In news which is likely to interest property owners in the area, the travel carrier is set to offer holidaymakers two additional flights a week from Manchester and Gatwick airports, beginning in May this year.

The new routes will take passengers directly to the Mediterranean coastal city of Marsa Matruh, which is famed for its sandy beaches and tranquil waters.

Khaled Ramy, director of the Egyptian State Tourist Office, said that the new flights are expected to make the country much more accessible for UK tourists.

Mr Ramy recommended Sharm El Sheikh, El Gouna and Sahl Hasheesh as popular destinations, describing the area as "a luxury destination".

Thomson Airways already announced earlier this year that it is increasing the number of flights it offers to Egypt from Durham Tees Valley airport.

Egypt could be set for 'massive' growth in 2010

Thu, 4 Feb 2010 00:00:00 GMT

The Egyptian property market is benefitting from a combination of low prices, a weak currency and massive economic growth, it has been claimed.

Property portal Property Abroad has made the claims amid speculation that Egypt is going to be one of the most popular markets in the world in 2010.

The portal say that investors in the country are benefiting from higher yields on property, made available because new resorts - capitalising on the tourism influx - are taking advantage of the increasing demand from overseas.

"Egypt also benefits from the fact that it is a young market, born out of the budget flight-fuelled property and tourism booms," the website reports.

"Emerging regions have also become home to a series of apartment-hotel investment products, which are a proven story in the world of private property investment."

Plans have been announced to build a new terminal at the international airport in the Red Sea resort of Hurghada.

New airport terminal will boost Egyptian property

Thu, 28 Jan 2010 00:00:00 GMT

The Red Sea resort of Hurghada in Egypt will benefit from a new terminal being built at its international airport.

The news is sure to please investors in the area who could capitalise on an increase in tourism to the region.

It is believed that the new terminal will help to boost tourism numbers in the region from 6.7 million to 7.5 million.

Steven Worboys, managing director of international property experts Experience International, said that the announcement was encouraging news for property owners.

He believes that they will be able to enjoy easier access to their homes, as well as benefitting from any additional rental income the terminal will generate.

"Interest in the Hurghada area as a location for a second property ownership has been strong, especially as the region has developed into an established tourism destination in recent years," he commented.

Potential investors will also be able to take advantage of Egypt's favourable exchange rate, with the GBP currently performing well against the Egyptian pound.

Hurghada is known for its watersports activities, nightlife and warm weather.

Demand for housing in Egypt could be fuelled by lack of property

Wed, 20 Jan 2010 00:00:00 GMT

The housing market in Egypt is set to grow in the coming year, according to a new report.

Real estate and investment firm Jones Lang LaSalle has claimed that Egypt's capital city Cairo is benefitting from its growing economy and ideal location at the crossroads of Africa, the Middle East and Europe.

The report stated that there is an increasing demand for housing fuelled by the fact that there is a major shortage in all types of property.

"For a growing range of investors, the deregulation of the real estate sector and the increasingly large and affluent middle class population make Cairo an attractive capital destination," it said.

The firm stated that although demand for real estate in Cairo will slow over the coming year, overall it will continue to increase, driven by both individual and corporate investment.

The Egyptian government is currently stalling its plans to implement new property tax laws in the country, according to Middle East business company Zawya.

Egypt 'offering outstanding diving'

Thu, 31 Dec 2009 00:00:00 GMT

Those looking for an expat lifestyle that includes regular watersports may be among Britons keen to invest in Egypt.

Marketing and membership manager at the British Sub-Aqua Club Alison Dando said the Red Sea is a particularly popular destination for UK citizens.

She added that for people diving there "you are on beautiful aqua marine coral reefs with fantastic marine life", noting this includes sharks and turtles.

Moreover, Ms Dando commented, this area of the north African country is easily accessible from Britain, being less than five hours' flying time away.

Buyers keen to invest in the Mediterranean Coast may look to resorts such as Sharm-el Sheikh and Hurghada.

Investors in Egyptian property might also be looking to keep an eye on exchange rates with sterling to ensure they can get a cheap bargain in comparison with the eurozone.

The latest event that could influence this saw Egypt's central bank decide to hold interest rates last week.

Egypt in property intentions boost

Thu, 22 Oct 2009 00:00:00 GMT

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.

Egypt 'sound for investment'

Thu, 10 Sep 2009 00:00:00 GMT

Egypt is a sound investment destination, an economic analyst has suggested.

In a feature on the country, Chip Krakoff of Seeking Alpha said the country's demographic trends and economic state, combined with loosened regulation and tax in recent years, make it a good place for property and other investment.

He stated: "The fundamentals for the most part look right. These include a domestic market of 80 million people, expected to grow to 100 million by 2025, a stable currency and sound macroeconomic policies."

Mr Krakoff added that the country has "favourable" economic agreements with major economic powers, including the European Union.

He noted that developments include the rapid rise of a city near to Cairo called October 6th, which has seen a large number of apartments built since the 1990s.

Last month, Nuwire Investor identified a number of beach resorts as being popular destinations for British buyers.

These included places such as Hurghada, El Gouna and Sharm el Sheikh.

Egyptian property 'popular in beach areas'

Wed, 2 Sep 2009 00:00:00 GMT

The most popular places for those purchasing Egyptian property are in coastal resorts, it has been stated.

Investment portal Nuwire Investor stated that locations such as Hurghada, El Gouna and Sharm el Sheikh are favourites with UK buyers.

The website noted that in the latter case, a local instrument called a signature validity court verdict enables investors to have more than the statutory limit of two properties per foreigner that normally applies, via 99-year lease arrangements.

A prime location seaside property of 970 sq ft in size will cost from €200,000 (£123,000), property advisor at Lincom Real Estate Aelita Romanchenko told the site.

The expert noted that other coastal area homes would start at €80,000 and a city dwelling €40,000.

Earlier this summer, chairman and chief executive officer of building company Palm Hills Yasseen Mansour told Reuters that Egypt's expanding population will be a major driver of the market in the country.

Egypt tipped for bright winter

Fri, 21 Aug 2009 00:00:00 GMT

Egypt has been tipped to be a success story in this winter's tourist market, something that may encourage those thinking of investing in tourist rental property there.

Reporting on the country's prospects, travel portal TTG Live noted that there has been a 15 per cent rise in holiday bookings for the winter season from last year and said that despite the "very high" summer temperatures the country is now a year-round attraction.

UK director of the Egyptian State Tourist Office Khaled Ramy told the website: "We have the nearest coral reef to the UK and you can swim in the Red Sea even in the middle of winter."

Sharm el Sheikh may be one resort that Britons are keen to invest in, as the portal noted that British Airways is to start a service there from Gatwick that flies three times each week.

Long-term demographic trends will help increase property values in Egypt, chairman of developer Palm Hills Yasseen Mansour told Reuters earlier this summer.

He said developments in the east and west of Cairo the firm is involved in as the city expands are already costing 1.5 times as much as existing property in the capital itself.

Egypt 'set for price increases'

Wed, 24 Jun 2009 00:00:00 GMT

Egypt is set to see residential property prices go on increasing, a developer has said.

In an interview with Reuters, chairman of developer Palm Hills Yasseen Mansour said demographic trends will ensure that demand for property remains high and prices go on rising.

He told the news agency that demand is expected to be substantial for housing in areas to the east and west of Cairo - where the company has projects - and that prices in these areas are 1.5 times as much as similar homes in the city itself.

Mr Mansour commented: "We have a lot of value in the real estate that we have."

Egyptian property laws have helped the market do better than others in the region, it was claimed earlier this month.

Khalid El Nouby of Egypt Property Law said the country offers low taxes, as well as no stamp duty, inheritance tax or capital gains tax.

New Egypt development announced

Mon, 16 Mar 2009 00:00:00 GMT

A new residential property development has been announced for Egypt.

Dubai-based Hamptons International has revealed that it is to partner with Egyptian developer Kimidar Group to act as the agent for the new resort that the latter firm is constructing on the Red Sea coast.

Hamptons will launch the Golden Park Resort & Spa in Hurghada at a roadshow in Egypt to be held next month, something that may interest those wanting to buy property in the country.

The Red Sea Riviera resort is partly finished, with 40 per cent of it yet to be completed.

Managing director for Hamptons International in the Middle East Nasser Abdul Rahman Rafi said of the development: "With the resort already being 60 per cent complete, it represents a secure investment in an off-plan environment."

A popular destination for swimming and snorkelling, Hurghada enjoys a very dry climate with very low levels of rainfall.

Cairo property 'cheapest in the world'

Fri, 13 Feb 2009 00:00:00 GMT

Property in Cairo is among the cheapest in the world, a new study has revealed.

Global Property Guide's investigation into the world's most expensive real estate locations found that prime city centre homes in the Egyptian capital carry an average price of 574 USD (£402) per square metre.

And the study also noted that a property in Cairo is likely to offer a rental yield of 12 per cent - the highest of the 91 locations surveyed - a fact that may interest British investors who are considering purchasing a house aboard.

At the other end of the scale, New York property was found to have fallen from second to sixth place in Global Property Guide's most expensive areas, with prices in the Big Apple now averaging 14,898 USD per square metre.

Egypt was recently highlighted by ABTA - The Travel Association as a country that Britons are most likely to visit in 2009, noting that its popularity over the past year is set to continue.

Egyptian Exchange ends week in green

Fri, 12 Dec 2008 00:00:00 GMT

The Egyptian Exchange ended second day of trading Thursday in the green despite a short week because of Eid Al-Adha holiday...

'Discounts available' for Egypt property

Mon, 24 Nov 2008 00:00:00 GMT

An overseas property agency is offering discounts on homes in the Hurghada region of Egypt for a limited time, it has emerged.

Uncover Egypt has property available for purchase in the Khasmin Resort, with prices starting at GBP18,908 as part of an offer applicable until December 1st.

The firm notes that the resort's water sports offerings - which include sailing, diving and snorkelling - along with its nightlife, make the area a popular destination, a fact that may be of interest to overseas property investors.

Managing director of Uncover Egypt Amanda Clarke noted that sales in the country are on the increase.

"Many buyers [are] taking advantage of the low purchase costs and tax benefits that are associated with buying property in Egypt," she remarked, adding that Hurghada is becoming popular as property there is is "a relatively low cost investment".

Property Wire recently identified Egypt as one country that has potential for investors in 2009.

Credit crunch impact on Egyptian tourism will reduce growth and rental yields

Fri, 21 Nov 2008 00:00:00 GMT

The global credit crunch is expected to have a severe impact on tourism figures in countries where it is a large part of the economy, economists are warning...