I'm Too Sexy For My Flat: Luxury Homes In Egypt
By Dominic Donaldson
Properties in Egypt might bring up images of Sphinx shaped condos however word on the property-investment-abroad street is that the market is one of the fastest growing. Statistics like a predicted 20% growth per annum over the next three years are causing a bit of a stir on both sides of the Mediterranean sea.
The benefits of investing in properties in Egypt are sometimes all too apparent. The 52 week a year sunshine, the beautiful beaches and the dirt cheap prices are all luring tourists and investors in droves. The product of 7000 years of civilisation is a beachside apartment in a new development for under 20,000GBP.
Perhaps the best example of how investment is flowing into properties in Egypt is the new development on the Sidi Abdel Rahman Bay in Marassi which has been exclusive designed by Giorgio Armani in a 1.9 billion dollar property investment. It is not yet clear what they will be asking for these homes however you can bet it will be above 20K.
The company Emaar properties who had bank rolled the massive development is a Dubai based property giant specialising in luxury properties in Egypt and other UAE states. They have the best spot on the North coastline of Egypt and the community boast hundreds of exclusive leisure features however you are going to have to pay to be in the Armani club.
Experts are saying that it is time to invest in properties in this region because of a number of reasons. The first being that the pound is at an all time low against the Euro and investments in any country carrying the Euro will show a poor returned when compared with the Egyptian Pound (EGP) still at approximately 0.09 against the pound.
This has shown signs of strengthening however over the last five years it has remained around the 10 to 12 to the pound area. With investment rolling in and global endorsements such as that of Armani it is expected that the 20% rise per annum will strengthen the EGP which is why experts are now saying that this might be the last window to make the most of the beneficial exchange rate by investing in properties in Egypt.
This is especially when considering the direction the Great British pound is moving in and will all the hollering about credit crunches and recessions is it really time to be splashing out on a holiday home? The experts seem to think so as they predict a massive capital gain from return on properties in Egypt, something which cannot currently be found in the UK.
About the author
Dominic Donaldson is an expert on properties in Egypt and contributes to trade publications on the subject. from http://www.FreeArticlesAndContent.com
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