London, United Kingdom (PressExposure) June 15, 2009 -- Compared to buying in some countries or even the UK for that matter the laws and procedures surrounding the purchasing and ownership of property in Egypt are fairly uncomplicated, making property purchasing in Egypt a relatively stress free activity. This in part is why so many investors still invest in Egypt whilst other real estate markets are suffering.
Experienced Egypt property lawyer Khalid El Nouby practises in all aspects of Egyptian property law. He explains: "In recent years the Egyptian government has shown a determined commitment to attracting overseas investment into the property sector and therefore the process of buying property and property ownership property for foreign nationals as investors is improving all the time and new registration rules have been drawn up."
Of course there are many other reasons that make an attractive place for investors to buy property or even to buy property to live in. Rental yields are extremely profitable and of course the property values make buying an investment property a reality for many who otherwise would not be able to afford to buy in say Spain or Dubai. The Red Sea cost is receiving massive investment in amenities and is considered by many to be one of the finest scuba diving venues in the world which is just one of the many reasons that makes Egypt an attractive holiday destination. Of course popular tourist spots often become popular property investment spots so the growth of Egyptian tourism goes arm in arm with the real estate sector. Huge investment in Egyptâs transport infrastructure and continued development of its finance sector for example means that Egypt, more than ever is a great place to invest, enjoy and do business.
There are very few taxes in Egypt which is a huge incentive for many purchasers. There is no stamp duty, capital gains tax or inheritance tax payable for British residents for example.
For investors and home buyers alike it makes a lot of sense to look at Egypt as a property hotspot.
For further information please see http://www.egypt-property-law.com