Egyptian Property Highlighted as Investment of the Future

Egypt has been highlighted as an overseas property hot-spot of the future, according to an article on the Overseas Property Mall blog.

In the article, well known property expert Liam Bailey said that while Egypt property prices are quite capable of growing very quickly over the short and the long-term, the unfair distribution of wealth in the country means there is very little demand from within the largely impoverished local population and this leaves property in Egypt investors at the mercy of foreign buyers.

The Egyptian government is busy trying to improve the situation though, now that their efforts to increase foreign investment inflows have paid off and require less of the government's attention.

In my opinion there is a good chance that Egypt can improve the distribution of wealth in the country, because they have plenty of economic growth to work with.

Even as the world endures one of the worst global recessions in almost a century, the International Monetary Fund is forecasting 3.6% growth in the Egyptian economy this year. Though this is much slower than the 7% averaged in recent years it is still impressive in the current climate. Growth is then forecast to slow to 3% next year, with inflation being brought down to a much more respectable 8.5%, from over 16% this year.

On top of that, to offset any doubts about whether Egypt can bring more of its population out of poverty, are the low property prices in the country and the exceptional rental yields this makes possible.

2 bedroom apartments near the beach in Hurghada can be bought off plan for less than £20,000, and rented out for £385.00 per week. This gives a 25% gross rental yield on 10 weeks occupancy.

View Egypt property for sale

View overseas property for sale

Post a Comment about 'Egyptian Property Highlighted as Investment of the Future' Here >

Portuguese Government Still Predicting more than 3 percent Contraction in 2009

Portugal was one of several countries to see a growth in GDP in the second quarter. The 0.3% growth sparked hopes that its recession may be over, along with much of Europe.

However, yesterday the Portuguese government announced that it was not changing its forecast for 2009 of a 3.4% contraction overall for the year.

France and Germany made the headlines when they both saw GDP growth of 0.3% on the previous quarter. The headlines surrounded the fact that this may suggest that the European economic recovery is well under-way. So it is surprising that the Portuguese government expects Portugal's economy to fall back into negative growth -- one must wonder if they know something we do not.

Portugal's economy has become service orientated since it joined the European Economic Community in 1986, and has been growing in popularity as a destination for overseas property buyers and investors ever since the first signs of over-development began to emerge in Spain's most popular areas.

According to Liam Bailey a sector specialist SEO copywriter, lifestyle buyers are very much prevalent in the market.

"Portugal is not exactly a hot emerging market so it is often over-looked by pure investors, but it is very much one of the favourites in Europe with lifestyle buyers and holiday home investors," he said.

View Portugal property for sale

View overseas property for sale

Post a Comment about 'Portuguese Government Still Predicting more than 3 percent Contraction in 2009' Here >

Top 10 most popular overseas property destinations in July

America has taken top spot for the second month running in the Property Abroad.com top 10 most popular destinations with those searching for overseas property on the site.

Spain has now been relegated into second position for 2 months running; holding 2nd place again in July.

In fact the chart is the same as last month's until you get to position 5, with Greece and France holding the same 3rd and 4th place respectively in July as they did in June.

The first change is that Portugal and Turkey have switched places, with Portugal climbing 3 places to steal 5th place from Turkey in July, while Turkey has fallen back 3 places to take the 8th position held last month by Portugal. Portal director Les Calvert said of the change:

"This is undoubtedly because the British Pound has continued to strengthen against the Euro, whilst the Turkish Lira has been regaining some ground against Sterling. This confirms our suspicions last month that the weak Lira was behind Turkey's popularity."

Italy and Greece were 6th and 7th most popular in July, the same positions they held in June, and finally India and Bulgaria have swapped places; with India being 9th most popular in July, and Bulgaria 10th most popular.

The full results of the top 10 are as follows:

America
Spain
Greece
France
Portugal
Italy
Cyprus
Turkey
India
Bulgaria

And last month:

America
Spain
France
Greece
Turkey
Italy
Cyprus
Portugal
Bulgaria
India

Post a Comment about 'Top 10 most popular overseas property destinations in July' Here >

Northern Cyprus - a buyers dream

We have just arrived back from Northern Cyprus following a one week fact finding mission in which we visited many of the new and existing property developments in Northern Cyprus.

We were very impressed with the quality and choice of properties for sale in Northern Cyprus not to mention the unbelieveable prices of some of the properties including resale properties.

Apartments for sale in Northern Cyprus start from as little as £24,000 for a 2 bedroomed apartment with mountain and sea views. We looked at a 5 bedroomed villa with large swimming pool and outside terraces including a seperate outdoor building that was currently being used as a granny flat on a donum of land for a mere £240,000 - what a bargain.

Prices in Northern Cyprus have a long way to go before they can catch up with their southern partners but I think obviously this will not happen until reunification or twin state status is applied to the island.

It's a great shame because the Northern Cypriots are a very friendly people and the area is beautiful with some magnificent properties and views.

If you are considering buying a property in Northern Cyprus then ensure that you use a lawyer and check that the title deeds are pre 1974 or if you are building on land ensure it is virgin land (never been built on before) other than that - I personally would have no hesitation on buying property in the north of Cyprus.

Post a Comment about 'Northern Cyprus - a buyers dream' Here >