With the British investing in Egyptian real estate more frequently than ever, the biggest question on everyone’s mind is: why? As it turns out, there are number of factors at play here, contributing to one of the largest turn-outs in British real estate investment in a foreign country ever.
From an economic standpoint, the property prices in Egypt are much lower than in other competitive markets, costing as low as thirty thousand pounds for an attractive piece of property. When its steady appreciation of twenty to thirty percent is put into consideration, it’s easy to see why investing in Egyptian real estate could result in a large pay-off in the long term.
The economic benefits are made even more evident by the lack of capital gains on British holdings in Egypt, as well as the decreased value in property taxes. One interesting, but not commonly considered, benefit of owning a home in Egypt is that British residents are exempt from paying inheritance tax.
The influx of British residents seeking to capitalize on these laws isn’t lost on the Egyptian government either. Lawmakers in Egypt see the rise of foreign investors as a positive opportunity that should not only be supported, but streamlined as well. In anticipation of ever-increasing numbers of foreign investors, the Egyptian government has done away with many of its more convoluted laws regarding property purchases, making the process as a whole much simpler.
Of course, not all reasons for Egypt’s booming real estate are economic ones. The areas that are seeing real estate growth are also some of the prettiest, “tourist” attraction areas in the country. For those interested in purchasing a vacation home, Egypt not only offers beautiful scenery, but common tourist interests, like diving and snorkeling, as well. This isn’t even considering the vacation hotspots throughout Egypt, which are full of the country’s rich cultural and historical legacy.
Unlike some other countries, Egypt has natural landscapes that have remained unscathed from modernization. As compared to the rat race and skyscrapers of a big city like London, Egypt still has areas that are enticing locations for visitors to relax and take a moment for themselves. These facts are not lost on the British that have already been expanding in Egypt, as tourist areas have seen steady growth over the past several years.
The effects of foreign investment have affected the country in some tremendously positive ways, including an increased emphasis on inward investing. This creates a rich climate for potential investors to take advantage of outside of just property. As more money is poured into the country, the economy grows progressively stronger and is thus boosting the value of the properties that have been purchased. This cycle benefits both Egypt as a country and residents on a personal level as they continue to see their properties become a sounder real estate investment.
With low costs of living and English spoken widely throughout the country, anyone can make the decision to purchase real estate in Egypt. Some larger corporations have also joined the call to action, with luxury resorts sprouting up throughout the country to appeal to the influx of British residents that have made it their home or vacation destination.
Egypt’s warm desert climate has attracted millions of tourists seeking to take advantage of its fourteen degree Celsius winters. In the summer, Egypt gets as warm as thirty degrees Celsius, making it an ideal location to visit regardless of the time of year. With Cairo International airport steadily being modernized, there has never been a better time to fly to Egypt and visit its beautiful locales. As a political stable country seeing unprecedented growth, now’s the time to visit and take advantage of the opportunity, whether it be for economic reasons or pure amazement at its beauty.
