Famous for its rich history, desert surroundings, and, of course, its pyramids, Egypt has long been a popular destination for British tourists and now, increasingly, for those looking to purchase property. Located in north-west Africa, and boasting coastlines lapped by both the Mediterranean and Red seas, in 2006 over one million UK holidaymakers visited the country – a 25 per cent increase on the number the previous year.

In terms of being an overseas property market, however, Egypt is still a fairly well-kept secret – approximately just 2,000 overseas buyers decided to invest in property in Egypt in 2006. How much longer this will remain the case, though, is open to question. It is predicted that the number of overseas buyers wanting to invest in property in Egypt will double in 2007 and reach 10,000 by 2010.

It's not much of a surprise that property interest in Epypt is starting to pick up. Situated, as it mostly is, in a desert, Egypt is one of those countries where year-round sun can almost certainly be guaranteed – something which ensures its popularity with tourists for all 12 months of the year. The fact that Egypt boasts a coastline which covers over 600 miles of Mediterranean, and more than 1,000 miles of Red Sea, also ensures that the country appeals to people who prefer to sit on sand next to water, than the former with no sign of the latter.

A majority of the current overseas property purchasing interest is focused on the Red Sea coast, where resorts such as Sharm El Sheikh, El Gouna and Hurghada all cater for overseas buyers and those wishing to invest. Egypt's Mediterranean coast, while less developed than its Red Sea counterpart, is also expected to become more popular over the coming years, with areas such as Marsa Matrouch and El Alamein likely to lead the charge.

Another plus point to buying in Egypt at the moment is that property prices are still low – for example, in Sharm El Sheikh apartments start at £35,000. However, property prices in Egypt are predicted to rise by 20 per cent come the end of this decade, which could make the country one well worth looking at for investment purposes sooner rather than later.

Click here to read the World of Property interactive i-mag FREE now

Search and browse property in Egypt

To receive your FREE copy of Emerge, our 60 page magazine covering 68 emerging property markets, simply click here, add your contact details and type Emerge into the enquiry box. We'll send you a copy.

Article published in July 2007