Egypt Investment: Economic Performance
When considering Hurghada (Ghardaga in Egyptian), Marsa Alam and Sharm, which dominate the Red Sea and Egypt real estate market, those planning investment in Egypt property and land will be interested in Egypt's economic performance. The Egypt government recently introduced major economic reforms with spectacular results. GDP growth in 2007 was 7.1% and Q1 2008 saw growth of 7.5%.
The government firmly intends Egypt to become a major investment hub in the area with particular emphasis on foreign investment in infrastructure. Among the developments of interest to those investing in Egypt property is Cairo airport, which has recently undergone huge expansion. Additional improvements are planned, facilitating access and making Egypt property investment more attractive.
Egypt Investment: Tourism Potential
Tourism is a vital factor for property investment in Egypt and Egypt's tourist figures offer some impressive statistics. Figures doubled between 2001 and 2006, and from July 2007 to July 2008, Egypt received 12 million visitors, particularly in the Red Sea resorts such as Marsa Alam and Hurghada. Egypt expects visitors to reach over 17 million by 2020 and the World Travel and Tourism Council ranks Egypt 17th out of 176 countries in terms of tourism growth. Government investment in promoting Egypt is huge and Egypt offers an increasing diversity of attractions. Sahl Hasheesh and El Gouna, near Hurghada, offer golf and marinas and are part of Egypt's primary destinations - Egyptian homes here are prime investments.
Egypt Investment: Property Market
The Egypt property market is currently young, but despite the recent emergence of Egypt property investment, Egyptian properties have already shown promising gains. Cairo and Alexandria offer several luxury residential areas where prices, particularly in off-plan Egypt developments, have experienced spectacular annual rises. Egypt property in Red Sea locations such as Marsa Alam, Hurghada and Sharm has also shown impressive increases, and Egypt homes in these Red Sea resort areas boast the additional advantage of buy-to-let opportunities. Marsa Alam, Hurghada, Cairo and Alexandria all have potential for good rental returns. For more information, click here for the Egypt Property Investment Guide.
