Check your builder, says Egyptian property expert
24/03/09 15:36
If you are looking at property in Egypt you are well advised to check which builder made the house, says an expert.
Nicholas Marr, chief executive officer of Homesgofast.com, says off-plan properties offer "exceptional value for money" although building standards can vary.
Mr Marr recommends looking at "previous work undertaken by that company or have some sort of reassurance regards the standards that they are seeking to achieve".
Some Egyptian areas, such as Marsa Alam, are still in their infancy compared with the country's more popular destinations, he notes.
"The holiday industry for the Red Sea area appears to be on the up and this is going to be great news for investors," Mr Marr explained.
According to the International Monetary Fund's World Economic Outlook, Egypt's gross domestic product is predicted to increase in 2009, as are the costs of day-to-day goods.
Expatriates can often benefit from cheaper property when they move abroad, although they should look to international medical insurance to protect them while resident in any foreign land.
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