[propertastic]

I was just waiting in the bank when I happened to glance at the GBP/EUR cross rates.

The GBP is down 10% over the course of just a few weeks. I knew things were bad with GBP, but I didn't think that they were that bad!

I haven't been following the GBP/EGP corss-rates but, as I know that it is the GBP that's doing badly rather than the EUR that's doing particularly well, I can imagine that the GBP has falled a similar amount against the EGP.

Today, this is not having an effect upon buying prices because many of the major developers use GBP as their base price.

However, if this is not just a blip on the behalf of GBP (I'm no economist and so I don't know for sure) then logic says that the developers' costs are going to rise and that they are going to have to raise prices in order to compensate.

This comes on top of drastically increased costs of materials, as has been previously discussed on this forum.

What's the bottom line?

The time to buy in Egypt is NOW. I can't see any way that developers are going to be able to hold prices at today's levels for more than a few months at the most now, unless the GBP makes a swift recovery.

I would say that a 20% increase would be the minimum in order for developers to simply stand still - never mind any changes to prices as a result of changes in the supply and demand situation.

For those who do buy NOW, these prices will lead to an immediate capital increase in your property or properties to the same value.

So for all your procrastinators who are still thinking about it - it really is now or never if you want to take your place on the escalator.