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Egypt recommended to investors

Second home buyers have been advised that buying an investment property in Egypt could be highly lucrative.

According to Amberlamb, the north African nation is currently proving to be very popular with investors from overseas.

This is because its natural attractions such as year-round sunshine and beaches have made it very popular with foreign leisure travellers.

Indeed, visitor numbers in 2007 were 20 per cent up on the amount recorded a year earlier and are set to keep rising over the foreseeable future.

This has led to strong demand for new housing in prime locations, as well as greater need for rental accommodation aimed at holidaymakers.

As a result, overseas property buyers who enter the market could be set to benefit from any subsequent growth.

Commenting on the market, Amberlamb stated: "The entire fledgling real estate industry is built on tourism."

This comes after online travel agency Lastminute.com revealed that bookings for trips to Egypt are 14 per cent higher than they were a year ago.

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