Published: 9th September 2013
The recent political changes in Egypt have resulted in many people choosing not to purchase property in Egypt in the short term, however a recent report from the influential Citigroup has reinforced confidence in the Egyptian economy and property market. The Citigroup report states that Egypt offers considerable potential for growth over the course of the next 40 years, and as such remains one of the world's most important emerging markets at present.
The quotes from the Citigroup report certainly backup what worse witnessed before the political changes, where there was considerable growth in demand for property in Egypt, particularly throughout the Red Sea resorts of Sharm El Sheikh, Hurghada and Marsa Alam. Whilst this demand did certainly fall away throughout the first quarter of 2011, there are signs that the demand for property in Egypt is beginning to increase yet again as we approach the busy summer tourist period.
The Citigroup report goes on to state that the new political stability in Egypt is likely to prove appealing to overseas investors as they seek to capitalise on the expected growth in the Egyptian economy. With Egypt's population expected to grow from 85 million at present to almost 130,000,000 in the next 40 years, there is likely to be substantial growth within the Egyptian property market.