In the fifth century BC Herodotus wrote of Egypt that 'nowhere
are there so many marvelous things...nor in the world besides
are to be seen so many things of unspeakable greatness'
- and not too much has changed. The Sphinx, the Nile, the
pyramids - Egypt's extent is magnificent.
Egypt is entering a new dimension - spectacular projects
are taking shape on the Red sea, providing much more than
just luxury resorts. The land of pharaohs and pyramids
is charting a new course, seen as a leap into a luxurious
future.
The sights of Egypt are truly marvelous, from Cairo's
pyramids down through the desert, along the Nile, via Luxor
and on to Abu Simbel. The history in Egypt is remarkable,
the sky is almost always blue, the scuba and snorkeling
in the Red Sea are world-class, and it's not expensive.
Income from tourism already contributes
a substantial part of the gross national product of Egypt.
That is why
the country is raising the stakes in this business – but
with a new dimension, attracting not just holiday makers
but also property investors.
Why Egypt? No VAT on buying a property, no capital gains
tax, no wealth tax based on the value of the property are
to name but a few of the favourable tax benefits along
with year-on-year capital appreciation of between 20-30%.
Within a 5 hour flight time from
European airports are some of the world’s most beautiful coral reefs and
desert scenes straight out of Lawrence of Arabia. It hardly
ever rains, even in winter the water temperature never
falls below 20° c and it’s not expensive.
There are so many positive aspects of the property market
in Egypt that make the entire sector and exciting place
to be right now that anyone serious about venturing into
an emerging overseas real estate market should be focused
on Egypt.
Egypt really is the place to be
for investors looking for immediate income and medium
to long term capital growth
and resale potential – and because the property buying
process in Egypt is so affordable, the number of investors
examining the marketing and exploring its possibilities
is set to rise and rise.
