Quote:
Originally Posted by Dashy
Hi,
IMHO 30K can be invested elsewhere with less risk then Egypt has at present, you need to consider world markets and other indicators like oil prices which is record high now, and predicted to be even higher, so talking about cheap flights and hoping there will be cheap tickets to Egypt is a real gamble. I will agree to other posts - it is a good and established holiday destination but property prices are dependant on the tourist market, where other property (Bratislava someone mentioned) will always have a demand and rental market.
Also keeping apartment for your own use will most likely cost you around 50 pounds per month, service charges etc... and if you are not on holidays all year around - this is going to consume your capital appriciasion (if there will be any).
Again, we should see clear picture in the middle/end of 2007.
Regards
Dashy
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Flight costs are going to be an issue wherever you choose to invest but the growing number of travellers and people wanting to buy property should ensure competition. I still believe that Egypt has the best year round weather you can find within 5 hours of most European capitals and has one of the lowest costs of living. Hotels are already at capacity and this will help the rental market in the future...