Find your Property



Find your Property
FAQ

Listed below are some commonly asked questions, if you need more information, please do not hesitate to contact us by phone or email.

Can foreigners buy property in Egypt?

Yes, foreigners have the opportunity to both buy and sell land and property in Egypt.

Do I need an Egyptian Bank account?

You don't need to have an Egyptian Bank account in order to purchase real estate, although it may be useful at a later stage, if you want to rent out your property, there are lots of different banks to open an account easy.

Can I rent out my property?

Yes, we are happy to be at your service to help You to rent out Your property.

Apartments are usually sold with or without furniture?

Both are possible, if You need the service of furnishing Your property, we are ready to provide this service.

Can i sell the apartment without finishing?

Perhaps, however, we recommend you to decorate the apartment to maximize your profits.

Is it possible to insure property in Egypt?

Yes, there are several recognized insurance companies operating in Egypt, we will be happy to provide you with contact numbers.

How long will it take to register the contract in court?

The time varies from case to case, but in General we can say that it takes about 3 - 5 months. Ideally, it is easier to write a power of attorney to a lawyer who will prepare all the necessary documents and You will get certified in the court agreement.

What kind of expenses should I expect if I have a property in Hurghada?

Water and electricity is normally calculated by the meters installed in the apartments. Prices may vary depending on location and availability of city water lines.

Service: most homes have a 24-hour doorman is available for your help. About 100-150 Egyptian pounds a month, depending on the house. If to speak about complexes with swimming pools and infrastructure, when you purchase the contract specify the price of service, usually paid once a year 1.

What are the payment terms?

Payment terms varies depending on the readiness of the project. Under construction, You can buy an apartment with an advance payment of 15-50% and the remaining amount is interest-free installment payments for 1-5 years, depending on the conditions of the developer. Ready property, usually purchased on 100% payment at closing. More information, You can get a consult with our Department of sales.  [email protected]

Are there any taxes?

Until June 2008, the buyers are not obliged to pay taxes for the buying process or real estate after registration. But since June 2008 the new real estate tax law No. 196 for the year 2008 to fix the annual real estate tax in the amount of 10% of the annual rental value of property ( per year ) minus 30% due to annual costs on the property ( repairing costs , maintenance , etc.) .

Thus, if the market value of your property less than 500,000 Egyptian pounds You don't have to pay taxes on your estate under the new tax legislation .

How much is the lawyer?

Prices vary from lawyer to lawyer, our lawyers will be charged a fixed charge (1,000 to 2,500 €) including all expenses, taxes and duties. You may choose any lawyer.

Do I need a visa?

 

You must have a valid tourist visa in order to be make a deal the purchase. Further, based on the available documents of property ownership, if you wish, You can apply for a visa for up to 1 year, if You are going to live in Egypt. Please note that this visa does not give You the right to work.