subject: Start Of A New Era For The Egyptian Property Market [print this page] Over the course of the past few years we have seen huge changes in the Egyptian property market. Countries such as the UK, Germany and France, traditionally strong for overseas property investors have been impacted by economic turmoil resulting in a decrease in overall volumes of sales of property in Egypt. Closer to home, the political upheaval in Egypt has resulted in many would be purchasers choosing to stay away until the new administration is fully in place.
However, recent months has seen increasing levels of confidence return to the Egyptian property market, as volumes of sales begin to climb as tourists return for the summer season. In this instance, the phrase 'One swallow does not a summer make' may well apply, and it is reasonable to say that it is still very early on in the process. That said, should the volumes of sales of property in Egypt increase over the course of the next six months, overall confidence in the Egyptian property market will continue to develop.
For their part, property developers are slowly adapting to the new challenges in the market. A new focus on core fundamentals such as quality, location, facilities and price throughout the majority of new properties for sale in Egypt look set to benefit all future investors in the country. Already the new focus on quality is having an impact on the Egyptian property market, and a number of excellent new property developments have been launched in recent months in Sharm El Sheikh and the Sahl Hasheesh. With these new developments already proving commercially successful, it is likely that this new focus will prove to be the blueprint for future property developments in Egypt.
Today, there is a wide range of properties for sale in Egypt, covering a wide range of budgets and tastes. From spacious apartments in Hurghada, through to luxury villas in Sharm Sheikh, the Egyptian property market caters for a wide cross-section of purchasers. With Red Sea property starting from as little as 6000, it is also highly accessible for people with more limited budgets.
Without doubt, the eyes of the overseas property market will be on Egypt over the next six months. With large numbers of tourists set to visit destinations such as Sharm El Sheikh, Hurghada, the Sahl Hasheesh and Marsa Alam, there is a genuine opportunity for the Egyptian property market to increase its global standing in the years to come.
