OFFPLAN NEWS

(14.06.2007 )
Property in Egypt Property Guide: Egypt
Any foreign investor has the right to buy property in Egypt.
The real estate market in Egypt is an emerging one and there is a big chance for the property investor to see great return on investment in the years to come.
The market is flourishing at the moment and it had been like that for the past few years with capital growth exceeding 100 per cent in some areas such as the Red Sea Riviera.
Red Sea Property are the most popular among the property investors.
In Cairo, an apartment can be bought for as little as 50,000 $ but can go as high as 500,000 $ or more.

Ian Marsh of Think-Egypt commented: "You can buy an eco lodge on the Red Sea of 1,000 square feet furnished for around £30,000 or a golfing two bedroom apartment of around 1,500 square foot on the Red Sea near Hurghada will cost £120,000. In Sharm El Shiekh, apartments will cost from £50,000 upwards whilst a villa in the Four Seasons resort would be £750,000".

In Cairo, one should expect to pay a minimum monthly rent of $2,500 for a flat and $4,000 for a villa..

In order to buy a property in Egypt it is highly advisable to employ a real estate specialized lawyer.
Your lawyer is responsible for researching the title of the property registering it in your name and acquiring the deeds to the real estate, and generally assisting that the transaction is conducted legally.
Also it will be wise to hire a well known or recommended real estate agent.
Besides the fact that they will do the research for you, they will be able to negotiate the property's selling price.
The property registry in Egypt is out of date,but the majority of real estate investment interest is focused on the main cities and resort areas and the government is committed to attracting investors in these areas.
The property should be checked against any loans, debts and disputes, correct signatures and all relevant power of attorneys from the seller should be verified by the lawyer.
Once a property has been decided upon, a deposit can be paid in order to take the property off the market.
Property registration fee is 3% of the purchasing price.

News by Country

»(14.06.2007 ) Property in Egypt Major real estate project in Cairo’s Smart Village, Egypt
Emaar Properties, the world’s No 1 real estate developer in terms of market capitalisation, signed a Memorandum of Understanding (MoU) with the Egyptian Government to start work on a new development in Cairo ... » find out more

»(14.06.2007 ) Property in Egypt Property Guide: Egypt
Any foreign investor has the right to buy property in Egypt. The real estate market in Egypt is an emerging one and there is a big chance for the property investor to see great return on investment in the years to come. ... » find out more

»(14.06.2007 ) Property in Egypt Al Futtaim Group unveiled US$3 billion Egypt project
Dubai-based Al-Futtaim Group’s US$3 billion Cairo Festival City, the 2.5 million square metre mixed-use, residential, commercial, hospitality and retail property in Egypt development under construction in New Cairo City,... » find out more

»(14.06.2007 ) Property Egypt Buying a Property in Egypt million times easier
For investors, second home hunters and even those looking to develop or renovate real estate, buying a property for sale in Egypt just became a million times easier ... » find out more

»(14.06.2007 ) Egypt property DAMAC enters Egypt with Gamsha Bay Project
DAMAC Properties, Middle East’s largest private-sector luxury property developer, announced its entry into real estate Egypt market with the launch of its 320 million sq. ft., Gamsha Bay project – the largest development in the region ... » find out more

»(14.06.2007 ) Egyptian properties Egypt enters a new era
Egyptian real estate with its exotic and enchanting features could be labelled as the oldest tourism destination in the world. ... » find out more

»(14.06.2007 ) Egyptian property Egypt expects more Chinese investment
Egypt property land for sale expects more Chinese investment as the country embraces a better environment for foreign direct investment, Egyptian Minister of Investment Mahmoud Mohieddin said on Wednesday.... » find out more

»(14.06.2007 ) Egyptian real estate Shrewd investors are buying early into Egypt
Shrewd investors are buying early property Egypt, an emerging property market with exciting investment potential.... » find out more

»(14.06.2007 ) Egypt real estate Egypt Property Buying Process
As a foreign investor you have the right to own real estate and land for sale in Egypt, but unfortunately the property registry in Egypt is out of date, ... » find out more

»(14.06.2007 ) Real estate in Egypt Egypt Property Investor’s Country Guide
The Egyptian property market is particularly attractive to overseas investors along the Red and Mediterranean Sea coasts, and also in the major cities of Cairo and Alexandria. ... » find out more