Egypt – a crunch free zone?

Egypt is about as good as it gets when it comes to property investments, claims one expert…

Many investors won't be affected by the credit crunch when considering a property in Egypt, and consequently won’t need to take out credit or a loan, for one simple reason: Prices are still LESS than a deposit on your average BTL property in the UK. On a £150,000 property a typical buy-to-let mortgage is 85% loan to value so you have to stump up a 15% deposit. That is £22,500.

With property prices growing at well over 20% per annum now is definitely the time to head for Egypt.  Tahir Ali, MD of Egypt Revealed, commented: "We are very much in a period of rapid growth for the Egyptian market. This is being fuelled by massive increases in tourist numbers and now Easyjet is making the Red Sea Riviera more accessible as budget airlines now fly direct to Hurghada.

“These holidaymakers will need accommodation. So the logical consequence will be that the rental market will now become firmly established in the area”.