How is the property market currently performing in Egypt?
National growth rates are relatively unspectacular, but that masks what is happening in the key tourist destinations, which are experiencing significant double digit growth year on year. Owing to -the changing property ownership laws, -the loosening of restrictions, -the modernisation of the economy -and the proliferation of high quality apartments to service affluent Egyptians and tourists, the property market is in the early stages, we feel, of an expansionary cycle. Liquidity is fast increasing, and one only has to look at Dubai to see the effects of rapid modernisation on property prices in stable Middle Eastern countries. It would be imprudent of 3Cube to speculate on the likely scale of future Egypt property price rises. What we will say is that we believe there are very few other if any international property investment markets which have the same capital growth potential in the medium term.
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