Property in Egypt is turning the heads of international property purchasers looking to buy into an exotic, historical and beautiful country with a warm climate and a booming tourist industry to match. Egypt is a fascinating tourist destination with history dating back to around 3200BC and the warm waters of the Mediterranean and the Red Sea attract divers worldwide. As a tourist destination with many possibilities to suit all interests, Egypt attracts increasing numbers of visitors and property buyers alike who come here to reap its many rewards.

Low off-plan prices (from £30k for a beachside apartment), guaranteed rental yields, holiday homes in the sun and high returns on investment (up to 25% per annum in some locations) are all reasons for the current success of Egypt as a holiday and property location. An increasing number of visitors are buying into luxury apartment complexes in the major holiday hotspots, safe in a strong belief in the current Egyptian government’s commitment to further economic growth and stability. Egypt is now well known as a number one medium haul top end destination for European travellers.

Foreign purchasers have the right to own real estate and land in Egypt. Today the government recognizes the great value foreign investors in property have for the success of the economy and have set about actively encouraging overseas buyers to Egypt. New laws have been established to make the Egyptian property purchase procedure more secure. For example, the government can no longer impound or nationalize any property they wish – a practice that stood for centuries. These changes, along with a few others, are increasing confidence amongst overseas buyers.

We will gladly guide your through the purchase process in Egypt to ensure you are fully informed of the facts to avoid any potential pitfalls.

Once you decide on a property, you will need to pay a holding deposit to take the property off the market while contracts are drawn up.

It is completely usual to negotiate a property’s selling price in Egypt, unless you are buying off-plan when the price is fixed.
Lawyers

Lawyers in Egypt will normally speak English and will be able to produce your necessary paperwork in Arabic, as required by all the authorities. Egypt has many complex real estate registration issues so it is critical to have a lawyer conduct the appropriate searches and provide you with legal advice regarding the purchase.

Local lawyers will also help you through the best way to conduct business with the local people who have their own particular idiosyncrasies and customs which are important to be aware of.