Egypt Property Investors Decline Says Homesgofast.com

  • 13 years ago
  • Uncategorized

One of the most established UK overseas property websites Homesgofast.com has seen searches and enquiries decline sharply for Egyptian real estate since the unrest. However it is anticipated that Egypt’s Red Sea resorts will soon see a return to its status as a formidable emerging market

 

Homesgofast.com director Nicholas Marr  Ã¢â‚¬Å“Egypts emerging property market and the Red Sea resorts in particular have attracted international investors in their droves. It’s obvious why Egypt has now seen a significant drop in enquiries . Investors are clearly sitting on their hands until they can see a clearer picture of the political situation in Egypt. President Mubaraks depature will be seen by potentail buyers as a step in the right direction Ã¢â‚¬Â

 

Emerging-market investors are much more sensitive to inflation and that’s part of the reason why investors are so wary of the sector against a backdrop of political unrest.

Practice leader of Frontier Strategy Group’s Quantitative Analytics “political instability and rate hikes, inflation is the bigger threat to emerging markets, although it is not an imminent risk,”

 

Sam Wilkin, associate director of global analysis firm Oxford Analytic’s Consultancy Practice.  Ã¢â‚¬Å“Running away from emerging markets means you’d be unable to participate where most global growth is going to happen in the next 10 to 20 years on out,”

 

The Red sea resorts attracts investors for numerous reasons including:

  • Low prices from £23,000
  • Year round sunshine
  • Booming tourist industry
  • Direct access from the UK
  • Low cost of living and maintenance costs
  • No capital gains and inheritance tax
  • Located outside the Euro zone

 

The Red Sea resort of Sharm el-Sheikh popular with overseas buyers and tourists now also appears to be the bolt hole for President Hosni Mubarak who departed his leadership on Friday.   

 

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