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

So You Want to Buy Property in Egypt?

Egypt is a country that many visitors seem to fall in love with. And more people, as they become more established, are becoming interested in buying property in Egypt.

Is real estate in Egypt a good investment for you? Let’s explore the possibilities.

If you want to buy Egyptian real estate, research the cost of property, currency exchange rates (if that is a concern) and other technical aspects. Many people also factor in the possible lifestyle. The climate may be quite attractive to you, as well as the famous Egyptian food, the world-renowned culture and the possibilities for rewarding outdoor activities.

Here are some points to consider, if you are interested in Egyptian real estate:

How safe are prices for Egyptian real estate?

There has been steady growth in the property market in Egypt for years now. It has slowed down a bit lately, but it will be very promising for many years to come.

Property investors and second- home buyers have been coming here for a long time. And though this means that in some areas property prices are high, there are still plenty of good areas for the new buyer to explore. This includes both city and rural properties.

As well, the government is planning to spend many billions of pounds in the next few years throughout the country for economic development. Thus the infrastructure will improve and property value will increase.

If we don’t live in the house, at least in the near future, how will we pay for it?

First, as prices are likely to rise in the future, it’s best to buy sooner than later.

Second, there is always the option of renting your property. Major cities are always popular destinations and thus there is a need for rental properties; Red Sea apartments, flats, villas and chalets which are kept  in good condition are also eagerly sought after. There is a well established system for managing flats, villas, chalets and apartments in Egypt whilst the owner is away. Property managers for Egyptian real estate take proper care to see that the properties are well maintained so as to preserve your investment.

Where should we buy property in Egypt?

Is price more important to you or location? If you like the city life, for example in Cairo, Alexandria ,Hurghada, etc, you are likely to pay a higher price for your Egyptian home. But of course if that is where you want to live, it’s worthwhile.

Some areas that are recently touted as good places for property investment include El Gouna, Hurghada, Safaga, El Quesir,Marsa Alam  among many others. These areas may not have much of an international population or reputation, but it may be what you want. These are the areas where you can find miles of pristine beaches and many of them are very private.  Whether you choose for privacy or the company of a neighboring village, you’re sure to find great land properties at the beach cities of the Red Sea in Egypt.

Rural areas and south Red Sea Egypt are becoming less isolated also, which can be a plus for you. The Egyptian airport system is becoming more efficient and more airlines are flying from northern Europe to areas of Egypt that were previously off the beaten track.

An upscale Egyptian home with direct beach front, is likely to be quite expensive, and not for everyone.  If a private villa or chalet is not what you’re looking for then consider buying a flat or apartment in a new construction building. Many have special prices for off-plan property purchase and you can find a good deal this way. Also you can find apartments for sale in Egypt Red Sea city of Marsa Alam which are located quite close to the beach but conveniently located at town with services available for everything you might need.

A good real estate agent of course is an important source of information to help you find the right property in Egypt for you.

Will we like living in Egypt?

Of course if you prefer an overpriced country with a cold, overcast climate, where there is little culture, average food, no outdoor activities, no fantastic nature and unfriendly people, then definitely you don’t want to live in Egypt.

Need I say more?

So, to summarize buying property in Egypt is a safe investment,

For the large scale property investor there are the above advantages and a promising market which is tried and true but which also has new, untapped areas, making Egyptian real estate a most exciting and promising venture.  Land parcels have increased dramatically in value over the past few years in the Red Sea area of Egypt. There are now well established resort hotels and most all of the beach property for sale in Hurghada has been purchase for resort developments.   For the large scale property investor there are opportunities now which didn’t exist before because of the limited amount of beach front property available. The Red Sea is a popular attraction where hoteliers enjoy low vacancies most of the year and major resort developers can secure a breachfront location in this popular tourist destination.  In such scenario, the large-scale developer for property would likely experience a high return on his property investment in Egypt.

Author:  Sandra Peterson

Purchasing A Property In Egypt

You are looking at the possibility of buying a  property in Egypt, whether to actually become your permanent base or as a holiday location? Where do you start? Below are property buying points that you may consider when looking for the ideal property.

1. My first suggestion would be to go on to the internet and look at and even contact some of the various agents that are now offering properties for sale in Egypt. You will find that many of these companies are owned and run by people who are now residents in Egypt and will be able to provide you with information on the many problems and pitfalls that may arise when buying a property in Egypt, and will also know the area that you may be looking to buy the property in.

2. Your next decision is where to you want the property to be located, do you want to live in a Town (urbanization) or do you want a private beach villa (Red Sea private villa) you may even decide you want to be near the Red Sea diving locations, beachfront property location for your private villa on the sea coast. However, one thing you must consider is that you want things to be close at hand, such as shops and medical facilities, then you may be better off looking at buying a property in Town or on the Coast. It may be an idea to visit the area you are looking at to decide if this will be the right location for you.

3. Next you will need to decide what sort of property in Egypt it is you want to purchase, is it an apartment, townhouse of a finca (country house with land). You may even want to take on the challenge of buying a property that needs renovation.

4. You have now decided on the location and sort of property you want to buy. Now is the time to start contacting the various agents (both on the internet and in the location directly where you are looking to purchase). These companies will not only be able to provide you with details on properties that they feel would be of interest to you , but they should also be able to provide you with details of solicitors and banks (should you need to raise a mortgage to purchase the property). They will also provide you with information on the schools, medical facilities, and other amenities within the area of your choice.

5. If you are looking to obtain a mortgage from a bank (either in your country or Egypt) then find out what sort of percentage of monies they will lend to you for the purchase of such a property. You will find that most of the banks in Egypt will only provide you with a 50%-60%  mortgage against the purchase of the property. When purchasing an off-plan property in Egypt there are often convenient seller financing which vary in terms according to the time for completion of the off-plan property purchase. Usually the seller financing for off-plan property in Egypt consists of around 40% at contract agreement and then the remaining balance is paid over the time until the unit purchase from off-plan project is completed and ready for you.  Sometimes you can choose the time for which you want the off-plan property to be ready.

6. You have now decided on the property that you want to buy, and you should now ask the agent is the owner of the property that you want to buy have the legal rights to sell it. If they do, then they should be able to provide you with the papers confirming this (an escretera). However, if these can not be provided then do not proceed with the purchase, but any respectable real estate agent would already have been provided with sight of these documents.

7. Next confirm with the agent selling the property that all the correct permissions for the property to be built have been provided by the Local Town Hall. Because of the rise in the number of properties that have been built in Egypt over the recent years with out obtaining the correct permissions the Government has been forced to take measures to prevent this occurring in the future. However, it also means that those people/developers who have built such properties can find themselves not only incurring fines by the Government, but may also find their properties being demolished.

However, it should be pointed out that as long as you associate yourself with a reputable agent then you should have no problems in finding the property of your dreams.

Well I hope that the information that I have provided for you above will help you in making the decision to purchase a property in Egypt a pleasant one.  Whether you’re looking to purchase an off-plan project such as an apartment, villa, holiday house , vacation home, holiday home or for investment property for rental income,  good luck with your project and enjoy the experience.  In Egypt, everyone will welcome you wherever you’re from…..just be a good citizen, it’s a relaxed atmosphere with streetside cafes everywhere. Take your time. Enjoy your life. Enjoy your time at the Red Sea in Egypt. If you want to purchase a property in Egypt there’s no better place than the Red Sea city of Hurghada or Marsa Alam.

Author: Sandra Peterson