New Cairo Compounds
For someone who has not been following the political events in Middle East and Africa, investing in real estate in Egypt may seem like a rather strange choice. However, for those who have been following the country’s fortune in recent times, there is perhaps no better place to invest in real estate than Egypt.
Hyde Park New Cairo compound
The country offers the perfect mix of the old and new. On one hand you have the ancient pyramids and on the other a modern country where business is booming. Add to that the thriving tourism sector, and you have one of the best places for investing in real estate globally. If you are someone who wants an apartment for sale in Egypt, then there is a variety of options waiting for you, spread throughout Egypt. You can find scores of apartment projects in major cities like Cairo and Alexandria.
One of the best indicators of the progress that Egypt has made in recent times can be gauged from the growth of its GDP. In recent times the country’s GDP has been maintaining an average growth rate of around 5% or more consistently. It is one of the few countries globally that has been able to hold its own despite the economic upheavals elsewhere globally.
Another reason why buying real estate in Egypt makes good sense is because of the influx of foreigners in recent times, looking for quality rental accommodation. This is one of the key reasons why apartment units and villas are selling like hot cakes. For example, if you were to take a close look at the New Cairo apartments for sale, a lot of the advertising for the properties is targeted at the overseas settlers in the country.
New Cairo in fact, has become one of the most sought after real estate destinations in the country.
The Egyptian government too has been quick to cease the opportunity and promote the development of real estate sector in the country. New laws have been enacted in recent times in order to simplify buying and selling of property by foreigners in the country. For example, death inherent taxes are no longer applicable in the country, so are capital gains taxes. This has been specifically done in order to encourage foreign buyers to buy real estate assets in the country. So, if you are a foreigner and want to buy a villa for sale in 5th settlement, one of the much sought after localities, you can go ahead and buy it, knowing fully well that buying the property will be an easy process, apart from also knowing that the property will fetch you excellent resale value too.