3 Tips For Buying Property In Egypt

Posted On Thursday, 17 June 2021 13:35

Are you looking for a perfect place where you can buy your next real estate property? Then, Egypt must be an ideal option for you. Apart from being commonly known as the land of the pyramids and pharaohs, this particular country is also known to be an ideal place to settle in. If you’re wondering how to obtain a property here, this article might be of great use to you. 

Why You Should Buy A Property In Egypt?

When it comes to choosing the right place for your next real estate plans, you must’ve considered the country of Egypt. Aside from its incredible historical background and stunning scenic views, the place also makes for various real estate opportunities. So, if you want to buy property in Egypt, this might be your chance. 

If you’re planning to purchase a real estate property, here are some reasons why you should choose to purchase one in Egypt.

• Due to its strategic geographic location. Egypt is an ideal travel location for nature lovers and travel enthusiasts, aside from having easy air access to its neighboring countries in Europe. If you’re looking for a place to settle down, this country is perfect for you.
• Apart from that, Egypt is also known for having a lower cost of living and can offer you luxury properties at a cheaper cost. Real estate properties in Egypt also guarantee quality, comfort, and opulence despite their economic prices.
• Particularly, most residential real estate properties in Egypt are designed and developed by international and world-class architects to ensure premium quality and top-of-the-line products. Such properties can also be purchased at a 25-40% cheaper price.

3 Essential Ways To Help You Purchase A Property In Egypt

Purchasing a property shouldn’t be as daunting and intimidating as it may sound. If you’re equipped with the right knowledge about the current trends in the real estate market, this process can be made easier for you. To help you more, here are some helpful tips you can utilize to efficiently buy a property in Egypt.

1. Choose A Property Wisely

If you’re a foreigner or a non-local and you want to acquire a property in Egypt, one of the most important things you must do is to select your prospective properties well as the country is administering strict regulations regarding foreign real estate acquisitions. 

Particularly, the country is implementing a rule that allows foreigners to acquire not more than two pieces of real estate properties with approximately 4,000 sq. meters in each of them. The reason behind your property acquisition should also be because of family ownership and foreigners can only have them as a family residence. 

So, if you’re planning to buy a property in Egypt, you must choose your place well; ponder upon its location, pricing and future expenses, maintenance, and other essential considerations to avoid dealing with future hassle regarding your land ownership.

2. Process the Legalities of Your Ownership

Once you’ve already selected a property and confirmed the price, the next thing you can do is to check the deal, including its packages, terms and conditions you must abide by, and the length of the year in which you must be able to develop your property. That’s because there are certain rules in Egypt which provide a specific time frame for foreign landowners to develop the property. In particular, such investors are obliged to develop their property five years upon the land acquisition. 

After paying for your property and once you’re issued with a purchase contract, the next thing you must do is to process your land’s title to ensure that it’ll be named after you without any hassle. 

To avoid any future conflicts, you may hire a professional lawyer to help you with the legalities of your ownership and handle your papers. They may also help you file for a Court Validity Suite, which is the process of registering your contract in the legal court.  

3. Register Your Property

After closing the deals and processing your payment for the property, you may now register your property to the National Registration and Land Registry Office located in Cairo. When it comes to registering properties for newly-built properties or newly acquired ones, the process may take longer than usual because landowners and builders can’t register them unless the construction is already finished. 

Aside from that, you must also know the two types of registration processes in Egypt, such as local and national registration. These two main types of registration manage and safeguard the register of deeds filed by landowners. 

The former enables owners to register their property upon the completion of payments while the latter only allows registration once the development has been registered.  

Takeaway

Purchasing a property in any place you want shouldn’t be as intimidating as it may sound. While there are certain processes that you must go through to acquire your prospective property, there are also helpful ways that you can utilize for an easier transaction. Particularly, if you’re planning to buy a property in Egypt, you must select your properties well, process the legalities of your transactions, and register your property to local courts to ensure your full ownership of it. Through these simple alternatives, you can now easily acquire a property in Egypt.                   

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