Why is Property in Sharm El Sheikh So Attractive?
Sunday, January 30th, 2011Let’s talk about why Egypt is now one of the most popular countries on the planet with holiday home buyers and property investors alike.
Great Climate All Year Round
Everyone loves good weather right? Well as Egypt benefits from year round sunshine it must be one of the reasons behind its mass appeal!
Egypt is situated in a sub-tropical region with a dry climate, long hot summers and mild winters where the temperature rarely falls below 40F, meaning year round rental potential.
Economic Growth And Stability
We all know that the strength of a countries economy will always have an effect on the attractiveness of property investment.
Tourism is still and will probably always be an important part of the Egyptian economy, employing more than a tenth of the population and generating foreign revenues into the country. Tourism is one of the biggest contributors to Egypt’s economy, with the World Travel and Tourism Council stating that it generates $18.2 billion, equivalent to 16.3% of GDP.
The Ministry of Tourism reported that foreign tourists totalled around 12.8 million in 2008, increasing 15% year-on-year.
It is predicted that Egypt will have over 17million tourists every year by the end of the decade.
The Sinai Peninsula is a particularly popular destination with tourists from across Europe, the US and the Middle East. With such a high amount of overseas visitors the demand for accommodation is also very high so therefore the potential for property investment is also strong.
So where is the best location to buy an Egypt property?
Well you might probably have guessed by now that we are confident that Sharm el Sheik which is situated on the Sinai Peninsula, is one of the most attractive destinations to invest in Egypt property.
Sharm is now a well-established resort with a wealth of attractions that appeal to a wide range of people. It is very popular with divers and water sport enthusiasts as nowhere in the world will you find coral walls and gardens more brilliantly abundant, waters more crystalline or underwater life more varied and plentiful.
Summary
Add these points to the fact that luxury property in Sharm El Sheikh is very affordable compared to other similar destinations and the fact that property owners are benefitting from both high capital appreciation as well as good consistent rental income then it easy to see why Sharm el Sheikh is one of the most desirable holiday property and investment destinations in the world.