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Ten Reasons to Buy Property in Egypt
1. Price:Egyptian property has to been the most attractively priced investment of any emerging real estate market. See example here.
2. Early Entry: When buying properties in Egypt, you are investing a new and exciting Market. Typically, it is the pioneering investor who reaps maximum rewards.
3. Economic Growth: For the last several years Egypt has enjoyed steady economic growth and is now the second biggest (behind Saudi Arabia) economy in the region.
4. Favourable Tax System: There is no VAT on Egyptian property sales. Furthermore, there’s no capital gains tax, no wealth tax based on the value of your property in Egypt and no inheritance tax in Egypt for UK residents.
5. Location: Properties on the Red Sea have year-round rental potential. Cairo apartments, like all capital city properties, benefit from enhanced rental values. Finally, properties in Luxor will attract those with an interest in Egypt’s rich history; thus, tourist sector rentals could prove very lucrative.
6. Easy Reach: Egypt is only a 4 – 5 hour flight from most European capitals and several low-cost carriers are, or are planning to establish air routes there.
7. Political Stability: It might come as a surprise to many, but Egypt has enjoyed relative political stability in recent years, with press freedom, political liberalisation and the introduction of general elections.
8. History: From the magnificent temples of Luxor and the evocative Valley of the Kings, to the breath-taking Pyramids at Giza, Egypt has it all. The country has, and will continue to attract hoards of culture hungry tourists.
9. Buy with Confidence: Both building contractors and architects are legally liable for a 10 year period, for any building defects. This 10-year warranty is a statutory requirement. Liability is absolute and there’s no obligation for the owners of Egyptian properties to prove fault or negligence by the contractor or architect.
10. Mortgages: Another recent boost to buying homes in Egypt is the introduction of mortgages which are now available to Non-Egyptian property investors. Our international property advisors here at Arabian Sands will be please to help you arrange your Egyptian mortgage. You can contact them on: (0034) 952 765 993