Is it time to consider selling your Egypt property to cash buyers? It probably is.
It cannot be denied that the Egyptian economy hasn’t done well over the last few years. It seems the country is yet to get out of the cycle of violence and agitations that began with the Arab Spring in 2011.
Egypt has a democratic government today, with its leader considered to be moderate and he has done a lot to normalize the situation in Egypt.
But he has failed to get the economy back on track. The Egyptian economy has been struggling, although the country receives tens of billions in financial aid. The jobless rate is 13 percent – it’s worse for young Egyptians aged 25 and less.
Egypt has a trade deficit of 7 percent of GDP and a budget deficit that is as high as 12 percent of GDP. Even its neighbors such as Tunisia, which have dealt with similar problems following the Arab Spring, are doing better, with a budget deficit of 4.4 percent.
Egypt’s biggest problem has been the poor performance of its tourism industry. If the turmoil caused during the Arab Spring wasn’t bad enough, just when the country got back on its feet, it was hit by a terrorist attack at Sharm el-Sheikh, as terrorists of ISIS brought down a Russian plane carrying 224 tourists.
This was followed by the more recent crash of the EgyptAir plane, which has made many worries about the future of Egypt.
But if there is one thing Egyptians trust, it is property. Regardless of the economic and political situation in Egypt, if there is one thing that has always remained constant, it is that the property prices in the country have been increasing year after year.
Indeed, there has never been a serious decline in the Egyptian property market despite the political turbulence and economic instability that the country has been through over the last 25 years. Property is indeed a safe investment in Egypt.
There’s a simple explanation for this. Egypt has a fast-growing population and a very young one. A vast majority of Egypt’s population is under 35. Young people get jobs, they get married and the first thing they look for is to buy an apartment or a house for their growing family.
However, the problem is the number of homes and apartments available in Egypt is nowhere close to the existing demand for housing. This has created a permanent demand/supply mismatch in Egypt, where the demand for homes and apartments is always much higher than the supply.
What it does though, is that it creates a great environment for real estate investment in the country. Real estate in Egypt offers superior returns and is generally considered quite stable, impervious to the troubles of the national economy.
For this reason, a number of wealthy cash buyers from China, Russia, and from other countries in the Middle East have shown an interest in properties for sale in Egypt.
Egypt is a great overseas property destination because investors have never lost money from investing their hard-earned money into properties in Egypt.
Contact the Experts to Sell Property in Egypt Fast to Cash Rich Overseas Investors today