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Egypt Property Prices to Increase Steadily Over Next Five Years - 8 March 2010

With low costs and an expected shortage of mid-priced housing, now is the time to jump on the Egyptian property market, advise real estate experts.

Currently, studio apartments in the Red Sea region start at £10,000, a deal unheard of in other investment hot spots like Turkey and Spain. Though low demand brought Egypt property prices down in 2009, as the economy begins to turn around, prices are already starting to creep.

A recent study found that property in Egypt is expected to increase 6 percent every year from now until 2015. Cairo will experience the greatest returns as population and income growth soar over its housing supply. The Red Sea and the Mediterranean Coast are also poised to see pricing increases.

Forecasters also note that the north coast of Egypt is a strong investment contender. Thomson Airways will lure British investors this summer, offering direct flights to the area from Manchester and Gatwick airports.

Other countries are also seeing the tourism and economic growth potential of Egypt. Talks are underway with both Turkey and China to further economic relations.

Many international real estate experts agree that Egypt is a low risk market because of the numerous types investment choices and properties for sale. Aside from old and new developments, developers also offer good deals—up to 30 percent blow market value—on off-plan buildings, properties that haven’t been built yet.

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