Location, Location, Location – Where to Buy Property in Egypt

You can have a piece of it all in Egypt: beauty, history, culture, lifestyle, sophistication. And you can have it all for a lot less than you could a few years ago.  How so? Property values in Egypt have leveled out for the time being. Some areas are even considered “bargain areas.”  In these areas you can get luxury and style for very little cost. In a few years, after the housing market turns around, you will be able to sell such properties for a profit.

If you’re not looking for an investment, Egypt has numerous, beautiful holiday properties for sale as well. You can choose from areas that are secluded and practically shut down in the off season or areas where nightlife, shopping and culture abound. You can even buy a private property on one of Egypt’s many beaches.

No matter your reasoning for buying property in Egypt, you need to be sure that you are buying the right property. This is where location comes in. Location is everything. Location dictates the kind of lifestyle you will be living while in Egypt. It also is vital in terms of appreciation and resale value.

There are many areas in Egypt that are ideal to buy. Let’s take a moment to talk about a few of them. There is a large variety of different types of locations, so we are going to give you a taste of what type of property you can buy in Egypt as well as highlight some of the best areas.

• Convenience and Stability – If you  want to be in the middle of everything, Cairo, Alexandria and Hurgahda has everything you need. Airports, shops and a  bus system that runs all the way throughout Egyptian towns and villages  will keep you connected and in the middle of it all. And the coastal beauty of the Red Sea will leave you speechless. The price tag of living in this area might also leave you speechless. A basic apartment here is quite low cost when compare to other beach resort destinations. There are very high end apartments, villas, flats and chalets available for sale in Egypt but there are also great bargains that make buying an apartment in Egypt to be very easy for almost anyone. But the area is virtually untouched by the recent housing market decline. Housing prices have risen steadily in spite of the market.

• Value and Familiarity – The highest concentration of British landowners live in Hurghada. And there is good reason why. Flats start out at only 30,000 Euros. Cheap beer and cheap flights to Britain make this the ideal area in which to purchase a holiday property. But don’t expect to get rich off of property appreciation. You will find great stability however and good returns should you decide to rent while you’re not using your unit.

• Seclusion and Beach Life – If you want seclusion, the small Red Sea village town of Marsa Alam is for you. One of Egypt’s most protected coastal regions, Marsa Alam has seen little development until recent years. Conveniences are few and far between if you’re looking for major type conveniences but if you just want a place to get away then this is really it.  Properties are also few. But if you want to purchase a piece of unspoiled island paradise, this Red Sea destination is for you. Brand new apartments start out at around 25,000 Euros. Luxury properties can cost as much as 500,000 Euros. It’s up to you, possibilities await you at the Red Sea in Egypt, where the sun shines 365 days of the year and the sky is always blue.

Remember; location is everything. If you want to purchase a property in Egypt that you can enjoy and resale when the time is right, you need to pay attention to where you are buying. In fact, where is more important than what. With the resort destinations in Egypt available today you have a nice choice when looking to buy an apartment or property in Egypt.

Author:  Sandra Peterson

Buying Property In Egypt

In recent years Egypt has become a prime destination for investment and holiday properties, with regions around the major cities seeing a particular boom. With this increasing popularity it’s the perfect time to think about getting in on the action, but keep in mind these important tips:

Like with any property purchase, ensure you don’t rush into things. Take your time to get to know a region, its people, its amenities and its cuisine. If you can’t make it a home, don’t live there. To really get a feel for a place you’ll need to spend a good deal of time there. Don’t just go for a weekend thinking you’ve read all about the area and it sounds lovely; invest some time and uncover the true character of your chosen region.

Likewise, don’t combine business with pleasure. If you treat your buying trip as a holiday you’re liable to fall in love with properties that don’t make financial sense, and primarily your investment has to be affordable. Don’t get carried away just because you think you’ve found your dream home or because someone else might make an offer; all the usual rules of buying houses still apply, and you should never go over budget and regret it later.

Consider more out-of-the-way destinations to save money. The big cities are obviously most expensive, but you can still find the Egyptian experience in other parts of the country. Marsa  Alam,in the south Red Sea, Egypt for example is on the up but still unspoilt by development and tourism, so it just goes to show that you can pick up a bargain if you’re willing to live outside the most popular destinations. From Hurghada to Marsa Alam you will find miles of pristine beaches and Marsa Alam is now served by Egypt International Airport at Marsa Alam. Also there is an international airport in Hurghada and Cairo. Air transport within Egypt makes all areas accessible and such great investment opportunity for buying property in Egypt at great prices.

Once you’ve found a house or apartment you love, you can start to go through the buying process. This involves making an offer which, if accepted, you’ll sign an agreement on. Then you have to pay a third of the offer to the seller, which is non-refundable if you decide to pull out. The rest of the balance is transferrable usually with payments monthly through to completion, which takes up to a few months; this is when documents are signed by both parties and their Notary which transfer ownership to you.  Egypt apartments for sale and property for sale is transferred by freehold ownership and taxes are very low. There is good return of investment for property in Egypt, it is a safe investment and popular destination for tourists. Many ex pats are living in their own home in Egypt.

There are no restrictions on foreign nationals buying property in Egypt, you are liable to pay a fee, which covers all the deeds to the house, planning regulations etc being checked to make sure that the sale of the house is legal. This is a standard procedure, it doesn’t cost very much and it is for your protection. Buying property in Egypt is easy for anyone, just be sure you’re buying property from someone that has the right to sell it and you can be sure of this by having your documents properly taken care of.

Buying an Egypt property is a straightforward process, and as long as you do your research and follow the correct procedures, you’re sure to find the right investment.

Author: Sandra Peterson