Hartlepool, United Kingdom (PressExposure) April 08, 2009 -- There is the potential for a massive surge in tourism to Egypt later this year, it has been claimed. The low cost of living in the country, and thus cheap holidays will become increasingly attractive as the economic crisis deepens. This attractiveness will receive a further boost if Sterling strengthens as is expected later this year, according to Les Calvert director of overseas property portal Property Abroad, he said:
"As the financial crisis continues to worsen, and people tighten their belts so much that pointy things must be produced to make extra holes, holidays will eventually be added to the list of things that are addressed to cut costs".
"But people don't want to give up their annual dose of sun sea and sand, my mate John says: 'blighty would kill me but for at least a fortnight's escape every year.' This will mean people start looking at where they can have the best holiday for the least amount of cash. For sun-loving beach goers Egypt is going to be near the top of everyone's list -- possibly at the top depending on what the currencies do as the year progresses."
Les went on to describe how this most benefits overseas property investors, and where the biggest opportunities lie:
"This means a fantastic opportunity exists for overseas property investors, because property is available at such low prices in Egypt. The biggest opportunity is to buy an off plan property that is almost complete, thus you get the off plan discount but are ready to rent by the time the surge in tourism begins."
Les said that investors should "investigate" because some of the property descriptions are dated, "we have properties at off plan prices that are past their due completion date," he said.
"These should be investigated as they may present the chance to pick up a rare bargain. I don't necessarily mean contact the developer straight off; find out if the development is completed --maybe ask on a forum or something -- and if it is than try and get it for the advertised price," Les finished.