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Egypt has been seeing interest from foreign home buyers, particularly around the Red Sea resort of Sharm El Sheikh. The natural beauty of the area is outstanding. Year round sun, and superb diving in the Red Sea are great attractions. One shouldn't forget that there have been major terror incidents in the recent past. Perhaps the 50M GBP Chariots Resort Harghada Beach, Red Sea (1060 Bedrooms) is out of most people's league though...
Ask a ProfessionalThere are investment prospects in Egypt, but it is essential that you seek independent expert professional advice before undertaking any property purchase. There are lots of things to bear in mind, including local laws and regulations, taxes, surveyor's assessments of the building, financial currency exchange, dealing with interbank transfers, volatity of the housing market, etc. etc. In some countries there are various restrictions on foreigners owning land or property, so this needs to be checked out fully. Any property purchase is a major undertaking. It may seem obvious but it's well worth going on holiday to a country several times to see if you like it.
Surge in InterestThe interest in purchasing property abroad has increased at an amazing rate in the past five years, fuelled in the UK by a booming domestic housing market making overseas properties seem good value for money. Also, TV programmes like Channel 4's `A Place in the Sun' have made everyone realise that owning a property abroad is no longer just for the rich and famous. People are interested in purchasing a home overseas for a variety of reasons - enjoyment, investment, a new life, retirement, and more.
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