| The prospect of growth in developing markets | | | | holidaymakers, opening up the possibility of |
| means that property investors are becoming | | | | letting a property out to tourists. |
| more adventurous in their choice of location, | | | | |
| an investment firm has said. | | | | Mr Collins cited the diving that takes place |
| | | | in the reef near Sharm El Sheikh as an |
| Investors becoming more Hetal Shah, director | | | | example, along with the new golf courses in |
| of Investors Provident, says that traditional | | | | the region. |
| markets still provide a strong draw because | | | | |
| of their guaranteed returns and reliability - | | | | Meanwhile, tourists in Egypt are currently |
| but double-digit growth in countries such as | | | | enjoying the opportunity to view the face of |
| Brazil, Morocco and Egypt means investors are | | | | the country's former ruler King Tutankhamun. |
| increasingly setting their sights on more | | | | |
| exotic locations. | | | | The mummified pharaoh has been placed on |
| | | | public display for the first time, exactly 85 |
| "I think with the established markets, it's | | | | years after it was first discovered. |
| never going to really die down. Even with the | | | | |
| recent scare in the Spanish property market, | | | | Warm countries such as Egypt are proving to |
| I don't think it's really died down to that | | | | be highly popular tourist destinations this |
| degree," Mr Shah commented. | | | | winter, experts have revealed. |
| | | | |
| "Even in tried and tested markets, I don't | | | | Britons seek sunnier climes this Christmas |
| think you can go wrong ... You've got the | | | | According to TravelRepublic.co.uk, many |
| security, you've got guaranteed capital | | | | Britons are choosing to leave the country |
| growth; although it's going to be slow. It's | | | | over the Christmas period in order to enjoy |
| not going to be as high as what you'd find in | | | | high temperatures overseas. |
| somewhere like ... India, or Brazil, Morocco, | | | | |
| Egypt. | | | | The firm said that the number of people going |
| | | | abroad for a two-week holiday during the |
| "We're finding that Morocco, Egypt and Brazil | | | | festive season was 238 per cent higher than |
| seem to be the highlights of the day at the | | | | at the same time last year. |
| moment ... People are being quite adventurous | | | | |
| in that respect. And capital growth is | | | | Egypt was said to be one of the most popular |
| really, really good in these locations. | | | | locations among British leisure travellers, |
| You're looking at anywhere between ten, | | | | along with Spain and Portugal. |
| fifteen per cent a year," he added. | | | | |
| | | | Speaking to the Northumberland Gazette, Mr |
| The possibility of snapping up a bargain | | | | Sanders commented: "More and more people are |
| property is drawing many foreign investors to | | | | choosing to go away for Christmas and the New |
| Egypt, an expert has stated. | | | | Year, whether it be to join friends and |
| | | | family or simply to catch some winter sun." |
| Egypt Paul Collins, spokesperson for the | | | | |
| BuyAssociation website, stated that the | | | | This comes after the Buy Association website |
| country was very popular because of the | | | | praised the quality and affordability of |
| relative affordability of high-quality | | | | Egyptian property. |
| houses. | | | | |
| | | | This will be good news for owners of tourist |
| Commenting on the Egyptian market, he said: | | | | accommodation in major tourist resorts, as |
| "Property is very, very cheap in comparison | | | | they will be likely to see an increase in |
| with other places where you have similar | | | | rental yields as a result. |
| facilities and similar climates." | | | | |
| | | | The research follows a similar study by |
| He added that the country's weather was also | | | | Co-operative Travel carried out last month. |
| a strong draw for overseas investors, as they | | | | |
| were "virtually guaranteed" to get hot and | | | | Analysts at the firm predicted that more than |
| sunny conditions when visiting. | | | | three million Britons would spend the festive |
| | | | period overseas - 11 per cent more than |
| In addition, he said Egypt had a number of | | | | during last year's Christmas season. |
| attractions that made it popular with | | | | |