Egyptian property 'cheapest in the world'

Egyptian property is now officially the cheapest on the planet, a new report has claimed...

According to the Global Property Guide's latest investigation into foreign housing markets, the Egyptian capital Cairo, alongside cities in India, Chile, Ecuador and China, currently houses average development prices from as little as $574 per sq m.

At the other end of the scale, Monte Carlo, Moscow and London were highlighted as the current most expensive cities to purchase foreign property.

The report stated: "For global bargain hunters, there are several places where property prices are relatively cheap, for example, parts of the Middle East, Latin America and Asia.

"Cairo, Egypt is one of the cheapest cities in the world, with prime city Centre prices at around $600 per sqm."

Source: www.axiafx.com