Egypt Online Properties For Sale Or Rent
Egypt Properties; is a professional online Website established to help Egypt Properties Owners To Market their Properties whatever for Sale or For Rent, so If you have Flat, Apartment, Villa or Studio in Egypt For Sale or for Rent In Red Sea, Hurghada, El Gouna, Sharm El Sheikh, Sahl Hasheesh, Marsa Alam, North Coast, Cairo, Giza, Naser City, Alexanderia, the only thing is needed from you as an owner just to register for free then we will contact you to activate your account to start listing your properties,.
Why Invest In Egypt Properties
Are you looking for a resort location with year-round sunshine? Are you worried that, not only are you way too late into the market for the mature territories such as Spain and Cyprus, but that you have also missed the main bargains in the second generation territories of Morocco and Turkey?
Currently, here are two major resorts in Egypt – Sharm el-Sheik on the northern side of the Red Sea and Hurghada on the southern side. Sharm el-Sheik is the newer of the two; Hurghada having been established for longer. It looks as if Sharm el-Sheikh is going to be the more exclusive of the two resorts, which accounts for the fact that prices are already ahead of those in Hurghada, but this has to be tempered with the additional security risk of Sharm el-Sheikh being that much closer to all of the Middle Eastern troublespots. Another disadvantage to Sharm el-Sheikh compared to Hurghada is that foreigners are not allowed to buy property there on a freehold basis - it has to be bought on a leasehold basis with a maximum duration of 99 years.
Although Sharm el-Sheikh and Hurghada are the two locations that are currently seeing the majority of development on the Red Sea, it is inevitable that other resorts will start to take off, such as the Zafarana Beach Resort, which is located 135km north of Hurghada.
If you are interested in buying property in Egypt, then it is better to arrange financing back home or to make a deal with a developer who is able to offer full financing deals. While it is possible to obtain local mortgages in Egyptian Pounds, the interest rate of 14% means that it is probably not going to be financially viable to finance in this way.
These high interest rates are good news for overseas investors in Egyptian property. It means that even some of the most affluent Egyptians are unable to buy property themselves, meaning that they rent instead. This means that rental yields in the country are very high compared to other territories.
An alternative to buying on the coast is to buy in the capital, Cairo. This market has attracted the attention of the largest developer in Dubai, Emaar, who are building several upmarket developments around Cairo. While there are excellent rental returns available in Cairo, you really do need to do a lot of research regarding the best locations in the market. You have to remember that Cairo is one of the World’s biggest conurbations – significantly larger than either London or Moscow, so make sure you pick the right area.
So, everything about Egypt sounds great, doesn’t it? Low prices, high rental yields, rapidly increasing demand – wonderful! But, be careful. High returns usually come with high risks and investing in Egypt is no exception. While Egypt has moved a long way in order to develop its massive economy, the country still has a lot of problems. Much of the country lives in total poverty, there are many instances of human rights abuse, and terrorism remains an ever-present threat. The most serious instance of this was an attack upon several hotels in Sharm el-Sheikh in 2005, killing 88 people.
Another factor to take into account is that Egypt doesn’t have to comply with EU Building Regulations and there have been reports of some very dodgy construction techniques being used in some developments. You should consider getting a surveyor’s report done if you have any fears at all to save you a lot of grief down the line if the construction is sub-par. If you’re buying off-plan, ask the developer what guarantees they are willing to give on the property.
If you are naturally risk-averse, Egypt is probably not for you and you would be better off investing in one of the EU countries. But if you are more of a speculative investor, or are building up a property portfolio across more than one country, then Egypt is definitely worth looking at in more detail. With prices so low at the moment, a 10% deposit on a reasonably sized apartment in a prime location should cost you less than EUR5,000 in cash so, for most property investors, the amount of risk should be relatively low.
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