Survey reveals 7 out of 10 retired Britons abroad likely to stay | Mail Online

An interesting article about retiring abroad, Egypt and Luxor don't get a specific mention but knowing the ex-pats here I know they would all agree. The quality of life in Luxor is much higher than the UK as costs are much lower. Food stuff is about 1/10 of the UK and of course there are no massive heating costs. A very modest pension will keep you living like a pharaoh :) It makes a terrific difference to your day to wake up to sunshine and friendly village life.

Survey reveals 7 out of 10 retired Britons abroad likely to stay | Mail Online: "'Retiring abroad is still very much a popular choice and expats are happy with their chosen life paths.

It's encouraging to see that the majority of expats believe they made the right decision in retiring abroad and are living their chosen dream. It is enlightening that 92 per cent of expats chose not to retire to a designated expat community.

- Sent using Google Toolbar"

Property in Luxor Egypt

Uncertain about buying Egypt, see the two articles below. I think that first article is really fair but it fails to take account of the motivation behind a lot of sales. Retirement properties. The second article should reassure those looking at these.

With pension values falling, Westerners are facing an increasingly dubious future. Their pensions, if they have one, are minuscule and certainly not enough to maintain a decent standard of living or any living at all in some case. But because of the low cost of living in Egypt even the most cash strapped pensioner can live like a Pharaoh on a very modest pension. Buy your apartment or flat and never have to worry about rent again and live off your UK pension, yes it is possible here. After all there are no heating costs, it is sunny all year round. Food costs are approx 1/10 those of the UK. Also you can pass on your property with no tax, tempted, you should be.

The two article do reassure people looking to invest in Egypt that their capital value is set to rise. Which when you are facing an increasingly uncertain old age is very reassuring. The clincher is that you can pass everything on to your children, no tax!!!!

As you know we have property for sale and all is on private land where we can give you freehold and proper contracts and papers. Flats in Luxor has an international reputation for honesty and we can give you references from satisfied customers. We have a variety of properties some with swimming pools, so please get in touch and have a secure retirement.

Another article on why you should buy in Egypt

Why buy real estate in Egypt

Egypt may seem like an exceptionally unusual choice as a location in which to invest in real estate sure, its a great vacation location with its 7,000 years of history, its near perfect year round climate, stunning beaches and beautiful divingbut what does it have to offer someone wanting to invest in real estate as a commodity?

The answer is Egypt is actually fast moving from being an emerging real estate market place to a well established one because the levels of foreign direct investment into the real estate sector have increased based on some excellent fundamentals.

For example, Egypt is now considered to be a politically stable country and one that is absolutely pro-western, meaning that an investor can be confident in the political stability, will and vision of the nation. Next up, the economy in Egypt is going from strength to strength. According to The Economist magazine GDP grew by 5% in 2005, almost 7% in 2006 and is on target for over 7% growth in 2007.

A strong economy gives confidence to investors as well but it also means local people have more buying power which creates the perfect environment for house prices to rise in value and an investors real estate assets to appreciate.

Aside from these excellent foundations on which an investor can build confidence there are some travel and tourism angles you might like to consider when thinking about whether Egypt is worth a closer look as a place to invest your hard earned dollars into immovable property.

First up theres excellent statistical news and data from the World Travel and Tourism Council, they say Egypt is on track for enjoying 21.4 billion US dollars worth of economic activity from the tourism market in 2007 and that the nations travel and tourism growth rate is expected to hit almost 8% this year before averaging around 5 and a half % per annum until 2017.

Clearly there will be massive rental demand for accommodation that a property investor who buys well located real estate can benefit from. Boosting this demand is Egypts exceptional climate and the fact the nation is now cheaply and swiftly accessible from Europe and the UK thanks to cheap flight operators.

Finally, if you want more reasons why to buy real estate in Egypt think about the fact there are no capital gains or death/inheritance taxes in Egypt and the government has now made it easy and safe for foreign buyers to own a home or multiple real estate assets in Egypt and surely you have enough evidence to support taking a closer look at the Egyptian property market.

Rhiannon Williamson writes about property investment worldwide,

Now is the time to buy property in Egypt according to analysts

Egyptian Property: Too Good to be True or Too Good to Miss?

The recent media reports relating to the real estate market in Egypt paint a picture that would make anyone think twice about buying property anywhere else. Even the Prime Minister of Egypt believes that the construction industry has just witnessed a 15% expansion. But are all these tall tales about the success of the Egyptian property market too good to be true, or do they illustrate a picture of an investment asset that really is too good to miss?

The thing with Egypt is that it is an undeniably amazing country in terms of its travel and tourism appeal. It’s not like the authorities, tour operators or property professionals have got to flog a semi-decent location like Bulgaria is it?! Egypt has year round sunshine, it has the Red Sea, it has incredible beaches, it has the pyramids, Cairo, Alexandria, Tutankhamen – I mean, it has it all in abundance! And what’s more, the tourism industry is truly thriving…up 20% in 2007 on 2006 levels, set to increase by about 7% on average a year for the next ten years, and being targeting for inward investment by the government seeking to stabilise and diversify its economy.

So, the fact that the entire fledgling real estate industry is built on tourism makes property in Egypt initially seem like a no lose commodity. Surely as tourism numbers rise and rise and rise and all these amazing developments in all these amazing resorts are built and sold, so those who buy will be able to let to the tourists coming in and profit right? Well, yes…and no. What about all the hotels in Egypt? And all the hotels that are being built in Egypt? And the fact that tourists still prefer hotels with all their facilities and conveniences to self-catering? Aye, there’s the rub, not every tourist visiting Egypt is going to want to rent a fly-to-let investment property belonging to someone from the UK who has invested their life savings into what is being oversold as an amazing investment asset ‘guaranteed to double your money, honest.’

Sigh…

Sorry, we got carried away – it’s just that we despair when we see developers advertising properties for sale in untried and untested emerging markets with ludicrous promises about guaranteed rental yields, guaranteed capital appreciation and guaranteed returns. Yes Egypt is potentially a great place to invest, yes there are amazing fundamentals supporting the development of the nation economically speaking…but come on, it’s not a sure bet. Please, proceed with caution and look at any investment opportunity with just a little suspicion if you want to do the best for your money.