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Investors cash in on Egyptian tourism

Investors are increasingly snapping up properties in Egypt in order to cash in on its growing popularity with tourists.

According to Gulf Weekly, many holidaymakers have been drawn to the north African country by its history, culture and fine weather.

This has created a surge in demand for rental accommodation in many areas, thereby creating opportunities for buy-to-let investors.

Furthermore, many were said to be purchasing properties for personal use, as Egypt is easily accessible from Europe and offers pleasant surroundings.

Gulf Weekly commented: "Interest in the investment property market in Egypt is beginning to awaken as the wider world becomes aware of the investment opportunities and incentives available."

The news provider added that resorts along the Red Sea are particularly popular, along with towns and cities on the Mediterranean coastline.

According to Paul Collins of the BuyAssociation website, Egypt offers the further attraction of highly affordable housing.

He said properties in prime locations are "very, very cheap" in comparison with similar countries.

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