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Since the new administration came into power, there have already been signals of recovery on the real estate market in 2021 with the more significant sales and the return of purchasers to the market following a fairly stagnating period.
The current housing demand is outstripping supply because of the rising population and helps to support the property market in Egypt. Every year an average of 440,000 new buildings are built to fulfil existing demand. Add to this an upsurge of foreign investors from Russia and other countries across Europe, all interested in the economy improving, in various areas and businesses.
Over the last five years, Egypt has attracted many foreign investors, either as a way of life changes or a second home, to acquire houses in Egypt. In recent months, the buying interests of the European, Russian and British markets have been rekindled, and investor trust, tourism, and foreign direct investment are growing every day.
There is much optimism and excellent hope for Egypt's future now, with youthful people who drive to make Egypt economically and politically go forward.
A comprehensive plan for increasing tourism by 2015 to 20 million is in place. Egypt has plenty to offer the British investor with sun throughout the year, only 4 and 50 hours flight time from the United Kingdom. Quality resorts, easy buying processes, and great rates mean that many people choose not only to enjoy the sun, the sea, and the beach but also to invest in it!
Egyptian experience has developed builders and developers of high-quality residences with swimming pools and manicured gardens in Egypt on time. Egyptian experience has been successful. They received several honours in Sharm El Sheik and Hurghada for their work. At a gala event in Dubai, Egyptian experience was awarded the CNBC award for best development in Egypt. The winner was also the best estate agent in Egypt for the CNBC Award and the best emerging market consultant for 2006 for Business England, and the "African property specialist for 2007."
Egyptian experience offers one-bedroom apartments on the Red Sea from £45,250 in Sharm el-sheik and one-bedroom mate apartments in Luxor with private strolls, panoramic views of £200,000, and a sea view.
If you need to buy or sell overseas property in Egypt contact us today