Red Sea properties and Mediterranean resorts are by far the most popular amongst foreign househunters and this has been reflected in impressive house price increases.

The property market has performed extremely well in the last year. The Red Sea area has seen prices increase by over 25 per cent. As a nation of property fanatics, Britain is up there with the best of them when it comes to snapping up these hot properties. “The number of British buyers is on the increase. In 2006 British buyers increased by over 50 per cent compared to 2005. They’re attracted to value for money, low running costs, excellent transport links from the UK, superb climate, strong rental demand and high capital growth.

And with the demand for holidays on the Red Sea and increasingly on the Mediterranean coast showing no sign of abating, Egypt’s property market looks set to thrive. “The future looks bright,” says one agent. “Property prices are still good value for money. You can purchase a Red Sea beachfront apartment for as little as £30,000. Tourism continues to grow, and with a year-round climate the rental potential is fantastic”. However, as with all real estate registrations having a lawyer at hand is highly advisable.

The Egyptian government’s commitment to attracting foreign investment into real estate means the path is being eased.