Real Estate, Property, Apartments, Villas, Land, Businesses For Sale in Egypt.
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Real Estate Investment in Egypt -
Overview
The Egyptian property market is particularly attractive to overseas investors
along the Red and Mediterranean Sea coasts, and also in the major cities
of Luxor, Cairo and Alexandria.
Investors have been benefiting from the
country’s increase in tourism traffic and also as a result of the
Egyptian government’s sweeping reforms designed specifically to attract
further inward investment.
The ancient and fascinating country of Egypt is of immense interest to many
thousands of foreign visitors each year and now it is increasing in interest
for overseas property investors and also world renowned foreign property
development companies such as Dubai based Emaar Properties who made a move
onto the Cairo property scene in 2005. And while real estate prices currently
remain low, the Egyptian property market’s star is rising fast.
Having consistently worked to promote the historic, cultural and entertainment
attractions available in Egypt, the Egyptian government was rewarded in
2004 when the country received its greatest numbers of visitors on record
to date. Despite some terrorism threats that persist,
Egypt is now a number one, medium haul, top end destination for European
travellers.
Tourists are attracted to Egypt for its history that dates back to around
3200BC, for the warm waters of the Mediterranean Sea, for the diving possibilities
on the Red Sea and for the luxury hotels and resorts that make Egypt something
special for the international tourist. An increasing number of visitors
are buying into new build luxury apartment complexes in the major holiday
hotspots and are being rewarded with low off plan prices, guaranteed rental
yields, a holiday home in the sun and an investment that even begins increasing
in value over the build period.
These property investors are taking a very
small risk in real terms since the government of Egypt has committed
itself to transforming the country’s economy through the promotion
of inward foreign direct investment over the long term. To that end the
government began the introduction of new reforms to customs, income and
corporate taxation in 2004, they are privatizing certain sector industries,
working on currency liquidity and are trying to develop an export market
for their natural gas deposits. Experts agree that all these efforts should
improve the economy of the country, create more opportunity for employment
and domestic wealth growth and increase the attraction of the country from
an overseas investor’s point of view.
In terms of the overseas interest that the real estate market place in Egypt
has already attracted, a subsidiary of Dubai based Emaar Properties - namely
Emaar Misr. - signed a contract worth somewhere in the region of 4 billion
US dollars to develop an exclusive and iconic series of villages in Cairo
in 2005. The seven villages will be known as Cairo Heights when completed
and will be located in the Mukattam Suburbs and consist of luxury residential
accommodation, exclusive retail facilities and breathtaking communal areas
- and it is of absolute credit to Egypt and Cairo in particular that Emaar
have chosen to build in the city as their first step in their bid to create
an exclusive residential development in every major city of the world.
Property investors moving into the real estate market place in Egypt right
now could be said to be pioneering; but with the Egyptian government’s
absolute commitment to economic growth and stability and the country’s
growing attraction with international visitors ever increasing, those
buying now are set to profit substantially from their property investment
decision over the medium term whilst benefiting immediately from some incredibly
imaginative and exclusive modern developments being constructed across the
country.
Real Estate Investment Potential in Egypt
Interest in the investment property market in Egypt is beginning to awaken
as the wider world becomes aware of the incredible
investment opportunities and incentives available for investors in
Egypt.
The key factors attracting overseas investor interest include Egypt’s
fast growing tourism sector, the fact that the government is continuing
to commit to legislative initiatives designed to enhance the investment
climate and the fact that property prices in Egypt remain low and affordable
whilst demand for quality property for sale and short term let is increasing.
The majority of real estate investment interest is currently centred upon
the resort areas of Egypt and the major cities like Cairo and Alexandria.
In the resort areas on the Red and Mediterranean Sea coasts property investors
are tapping into the increasing tourist demand for short term rental accommodation;
this market is currently returning the best rental yields countrywide.
The second home resale market in the resort areas is also beginning to present
profit potential on the underlying capital
investment made because more overseas buyers are seeking holiday homes or
second homes in these areas. Egypt is close at hand for European holiday
makers and therefore owning a holiday home in this exotic location makes
perfect sense for many European travellers.
In Egypt’s main cities like Cairo and Alexandria overseas property
investors are again seeking to profit from rental returns, and with
the creation of brand new luxury residential property districts like Cairo
Heights, international interest is increasing.
Overall the future prospects for the property
market in Egypt are positive. Egypt is a politically stable country
and one currently enjoying the best relationships with many of the world’s
most influential economies that it has ever enjoyed. The economic climate
in Egypt is open for investment and investors are being actively encouraged
by taxation breaks, low labour costs and a country that has a growing middle
class who are beginning to exercise their increased purchasing power.
Overseas real estate investors are aware that the growth in the purchasing
power of the domestic market is fantastic for
the long term profitability of all investments in Egypt’s property
sector. The overseas tourism and second home markets will account
for good yields and returns but a growth in domestic demand and purchasing
power will allow investors to more aggressively target Egypt safe in the
knowledge that they have a wider market to potentially profit from.
Property in Egypt - Purchase
As a foreign investor you have the right to
own real estate and land in Egypt. An investor who buys into this
emerging property market now may well be buying into a prolonged period
of growth which is the exact appeal of Egypt from an investor’s perspective.
A real estate investor contemplating the purchase of undeveloped land or
older, well established resale properties will need to employ a lawyer specializing
in real estate law in Egypt to assist with any such purchase to ensure the
transaction is conducted legally and that at the end of the property buying
process the investor is the legitimate owner of the real estate and can
seek to have it registered in his name and acquire the deeds to the real
estate.
An investor requiring a mortgage to purchase property in Egypt may like
to secure this outside of the country - alternatively mortgage law in Egypt
has recently improved and investors and foreign buyers do have access to
mortgage products in Egypt now. However, the real estate they are seeking
to purchase has to be registered at the property registry for the mortgage
company to consider it. To be eligible for home finance an investor will
need to fund no more than 85% of the property purchase price and be able
to repay within either 20 or 30 years.
Those considering investment property in Egypt would be wise to employ an
estate agent to assist them with their search, negotiations and also with
the property buying process. Once an investor’s objectives have been
identified a local estate agent can find the types of property or land that
fulfill the objectives and can make offers to the vendor and deal with any
counter offers to ensure that a property is secured for sale to the investor.
It is usual to negotiate a property’s
selling price in Egypt - unless buying off plan. If buying off plan
the price is fixed with some extras usually negotiable for inclusion in
the asking price. Once a property has been decided upon it is usual to pay
a holding deposit that takes the property off the open market while contracts
are drawn up. In a country with real estate registration issues as complex
as Egypt it really is critical to have a lawyer conduct searches and to
advise on the legality of the purchase. Even if a property investor in Egypt
is buying a brand new property from a well established developer it is wise
to take advice from an independent lawyer.
Index of Property for sale in Egypt:
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Egypt Real Estate
Property for sale in Egypt - Apartment
Egypt Real Estate Villa
Property for sale in Egypt - Villa
Egypt Real Estate
Property for sale in Egypt - Apartment
Egypt Real Estate
Property for sale in Egypt - Apartment
Egypt Real Estate land
Property for sale in Egypt - Land
Egypt Real Estate Land
Property for sale in Egypt - Land
Egypt Real Estate
Property for sale in Egypt - Apartment
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Property for sale in Egypt - Apartment
Egypt Real Estate
Property for sale in Egypt - Apartment
Hotel For Sale Luxor
Hotel for sale in Egypt - Luxor City Centre
Location: Luxor
Category: * * * *
Ref: GA01
Price: P.O.A.
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Luxor
Ref: PJ5007
Price: £ 43,000
Details: Beds: 3 | Baths:2 | Built M2 180 | Pool: No |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Luxor
Ref: PJ5006
Price: £ 43,000
Details: Beds: 2 | Baths:1 | Built M2 180 | Pool: No |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Luxor
Ref: EA226
Price: £ 39,950
Details: Beds: 2 | Baths:1 | Built M2 120 | Pool: No |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Luxor
Ref: CC5014
Price: £ 33,000
Details: Beds:- | Baths:1 | Built M2 140 | Pool: No |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Luxor
Ref: EA227
Price: £ 33,000
Details: Beds:3 | Baths:1 | Built M2 160 | Pool: No |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Luxor
Ref: EA222
Price: £ 30,000
Details: Beds:2 | Baths:1 | Built M2 100 | Pool: No |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Sharm El Sheikh
Ref: PJ5001
Price: £ 28,000
Details: Beds:1 | Baths:1 | Built M2 - | Pool: Yes |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Sharm El Sheikh
Ref: PJ5000
Price: £ 25,000
Details: Beds:1 | Baths:1 | Built M2 - | Pool: Yes |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Luxor
Ref: EA111
Price: £ 24,500
Details: Beds:2 | Baths:1 | Built M2 145 | Pool: No |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Sharm El Sheikh
Ref: MDC5000
Price: £ 24,000
Details: Beds:1 | Baths:1 | Built M2 78 | Pool: Yes |
Egypt Real Estate
Property for sale in Egypt - Apartment
Location: Luxor
Ref: EA110
Price: £ 19,995
Details: Beds:3 | Baths:1 | Built M2 150 | Pool: No |
Egypt Real Estate
Real Estate for sale in Egypt - Apartment Building (4 Apartments)
Location: Luxor
Ref: G7919
Price: £350,000 GBP
Details: Beds:- | Baths: - | Built: M2 - | Plot: M2 - | Pool: Yes | | Garage: -
Egypt Real Estate
Real Estate for sale in Egypt - Apartment
Location: Luxor
Ref: G5582
Price: £82,000 GBP
Details: Beds: 3 | Baths: 1 | Built: M2 - | Plot: M2 - | Pool: Yes | | Garage: -
Egypt Real Estate
Real Estate for sale in Egypt - Apartment
Location: Luxor
Ref: G7296
Price: £55,000 GBP
Details: Beds: 2 | Baths: 1 | Built: M2 - | Plot: M2 - | Pool: -| | Garage: -
Egypt Investment Links:
http://www.escapeartist.com/egypt/economy.html
http://www.menareport.com/en/business/196760
http://recefil.com/c/?text=Investment%20Opportunities&refID=19