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Egypt Property Popular With German Investors

Apr 14, 2008
German tourists are becoming increasingly willing to venture outside of Europe for their holidays, according to new research. Egypt A poll by Urlaub Perfekt magazine found that people from Germany considered Egypt one of their favourite holiday destinations. The survey of 1,200 respondents found that the country was the only non-European nation to make it to the top five, which also included Bulgaria, Greece, Turkey and Spain.

Egypt was found to be rated highly because of the quality of its holiday accommodation, as well as the customer service that visitors were likely to receive. In addition, its suitability for family holidays and its overall affordability were also much lauded by German consumers. The country's popularity as a holiday destination recently prompted the BuyAssociation website to recommend Egypt as a market for overseas property investors. According to the online portal, it has become one of the most popular destinations for winter sun-seekers over the last few years.

One of the world's top boxers has spoken of his decision to purchase a property in north Africa. Egypt recommended by sports star Joe Calzaghe told the Western Mail that he was tempted to buy a residence in Egypt after visiting the country on a holiday. He now owns a property in Hurghada, which is described as a bustling market town on the Red Sea coastline. Commenting on his purchase, Calzaghe said: "At first I was in two minds about buying in Egypt because of the bombings a few years ago." However, he added that he decided to "go for it" after considering the relative pros and cons of the country. Calzaghe highlighted the affordability of property when compared with other sunny locations as one of the deciding factors.

Overseas property buyers were recently advised to consider purchasing holiday accommodation in the country by the BuyAssociation website. The online portal said Egypt was a good option since it was becoming one of the most popular winter sun destinations.

Egypt's rental market could be set for a boost from an influx of British holidaymakers this year. Britons set to boost Egyptian rental sector The north African country has been tipped to be a popular location among holidaymakers from the UK by the Association of British Travel Agents (ABTA). According to the industry body, Britons are increasingly choosing to take their holidays outside of Europe in more exotic locations, such as Africa. This is likely to be welcomed by people who have bought property in Egypt, especially those who are reliant on its growing tourist trade in order to generate wealth and strong returns.

Frances Tuke, spokesperson for ABTA, commented: "People are becoming very demanding in their holiday choices. "They want to be a bit more adventurous." Speaking to BBC News, she added that travel companies have already seen a high level of bookings during January and February.

Overseas property buyers were recently advised to consider purchasing holiday accommodation in the country by the BuyAssociation website. The online portal said Egypt was a good option since it was becoming one of the most popular winter sun destinations. Rental investors in popular African tourist destinations could be set to see increased demand this year.

African tourist trade could boost investment prospects The World Travel and Tourism Council (WTTC) has revealed that tourism across the continent has risen by 5.9 per cent in the last year. This figure, which is above the worldwide average, suggests that Africa could present a number of investment opportunities. Specifically, increased tourism is likely to drive up demand for rental accommodation in hotspots such as Morocco, Cape Verde and Egypt. WTTC figures also showed that the impact of economic problems in the US was affecting the popularity of more established locations such as the Americas and Europe. This could further reinforce Africa's potential as place in which to invest.

Jean-Claude Baumgarten, president of the WTTC, commented: "The continued strong expansion in emerging countries as an increasing source of international visitors means the industry's prospects remain bright." This comes after Frances Tuke of the Association of British Travel Agents told BBC News that Egypt is likely to be a popular location among holidaymakers from the UK this year.
About the Author
Egypt Property Select offers a comprehensive selection of property developments in Egypt, The Red Sea Coast, Hurghada, Sahl Hasheesh and Sharm El Sheikh. Other features include Egypt property news, members club and reviews of the latest Egypt off-plan property.
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