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Favourable tax rules make Egypt a popular choice
Country: Egypt
30 October 2008
According to reports, Egypt’s agreeable tax rules should be exciting the savvy overseas property investor of today.
West Side Village in Hurghada have reported an 18% increase in enquiries and sales this year, compared to 2007, and say that with no capital gains or inheritance tax investors can maximise returns in this emerging area of Africa.
In addition, profit from the sale of property can be taken out of Egypt with no restrictions. Investors are only required to pay a minimal annual real estate tax of approximately £50 per year.
West Side Village claim that property prices in Egypt have risen by 50% over the last two years and are predicted to continue to grow by at least 27% annually until 2011, despite the economic downturn. On top of these capital gains, rental yields are higher than average, reaching 12% in certain areas.
Marketing director, Stephen Smith, comments: "Serious investors analysing their buying and selling costs are drawn to low-tax destinations, which will enable them to maximise their returns. Hurghada offers fantastic buying opportunities, with some of the lowest cost property in Egypt, virtually no tax to pay and strong rental demand driven by tourism.”
Browse other Egyptian property news stories, read articles about investing and buying property in Egypt or view our range of property in Egypt.
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Price: €6,105
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Type: Studio
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Bedrooms: 1
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Following on from the phenomenally successful Tiba Towers 2 (one of Hurghada's fastest-selling development in 2010) and its sister development, Tiba Heights, comes the developer's latest and most luxurious project to date - Tiba Palace.220
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Price: £6,570
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Type: Studio
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Bedrooms: 1
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Just Released Fantastic Value studios, 1-bed and 2-bed apartments in Hurghada. Unbeatable prices!
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Price: €6,913
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Type: Apartment
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Tiba Paradise is the sixth development in the incredibly successful Tiba series of projects in the fast-growing Al-Ahyaa area of Hurghada and is eagerly awaited by thosewho missed out on getting their perfect apartment when the developers last
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Price: £7,317
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Type: Apartment
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Bedrooms: 1
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We thought when we launched Tiba Towers 2 and Tiba Heights a short while ago that we had found the best value for money developments in Hurghada. But we were wrong. Isida beats them both.
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Price: £8,334
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Type: Apartment
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Tiba Star is an exclusive development from the successful Tiba Resorts family located in the heart of Al-Ahyaa, Hurghada. Tiba Star joins Tiba Tower 1 & 2, Tiba Heights, Tiba Palace and Tiba Garden as the sixth successful development in the area.
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Price: £10,142
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Type: Apartment
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Bedrooms: 1
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Tiba Garden is coming to be a fourth sister in 'TIBA'S' family of resorts development to continue the incredibly successful family which is located just a front of TIBA TOWER2 project.
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Price: $10,356
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Type: Studio
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Anyone who has looked through Hurghada's options for affordable, best value developments is sure to quickly come across the Tiba developments in El-Ahyaa - Tiba Towers 2, Tiba Heights, Tiba Palace and Tiba Garden.
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Price: £11,634
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Type: Apartment
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Bedrooms: 1
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Tiba Garden is coming to be a fourth sister in 'TIBA'S' family of resorts development to continue the incredibly successful family which is located just a front of TIBA TOWER2 project.
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