Investors increasingly setting their sights on Egypt property
Image via WikipediaThe possibility of snapping up a bargain property is drawing many foreign investors to Egypt, an expert has stated.
Paul Collins, spokesperson for the BuyAssociation website, stated that the country was very popular because of the relative affordability of high-quality houses. He added that the country’s weather was also a strong draw for overseas investors, as they were “virtually guaranteed” to get hot and sunny conditions when visiting.
In addition, he said Egypt had a number of attractions that made it popular with holidaymakers, opening up the possibility of letting a property out to tourists. Mr Collins cited the diving that takes place in the reef near Sharm El Sheikh as an example, along with the new golf courses in the region.
Warm countries such as Egypt are proving to be highly popular tourist destinations this winter, experts have revealed.
According to TravelRepublic.co.uk, many Britons are choosing to leave the country over the Christmas period in order to enjoy high temperatures overseas. The firm said that the number of people going abroad for a two-week holiday during the festive season was 238 per cent higher than at the same time last year.
Egypt was said to be one of the most popular locations among British leisure travellers, along with Spain and Portugal. This comes after the Buy Association website praised the quality and affordability of Egyptian property.
This will be good news for owners of tourist accommodation in major tourist resorts, as they will be likely to see an increase in rental yields as a result.
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