Tourism draws investors to Egypt

The popularity of Egypt as a holiday destination is having a positive effect on its housing market, an expert has revealed.

Paul Collins, property editor at BuyAssociation, said the amount of interest in tourist property in Egypt is increasing all the time.

He stated that the north African country is especially popular with sun-seekers who want a beach holiday, as well as fans of diving and golf.

This, he continued, has prompted many investors to buy a property in major tourist hotspots in an effort to cash in on its growing appeal.

Mr Collins commented: "Sharm El Sheikh is the top focus, and Hurghada is another place that is really popular."

He added that resorts including Dahab and El Guona, as well as places along Egypt's Mediterranean coastline, are also attracting strong interest from property investors.

Earlier this year, BuyAssociation predicted that Egypt would be one of 2008's main investment hotspots.