Buying property in Egypt as a foreigner
Are you planning to move from the EU to Egypt? One of your first priorities may be to buy a property. Or perhaps you want to buy a holiday home or an investment property in the country.
Whatever your plans, we’ve got you covered – with our essential guide to buying property in Egypt as a foreigner.
Read on to find out how to start your home search, how to pay off your apartment in Egypt, taxes and fees for buyers and the latest property prices in Egypt.
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Buying Property in Egypt as a Foreigner – A Step-by-Step Guide
Before you start looking for a home, it may be helpful to know a little about how the process of buying property in Egypt works.
Here is a brief overview of the steps involved:
- Appoint a Lawyer
The process of buying property in Egypt is quite different from the EU. To make sure you get it right and avoid any pitfalls, it is a good idea to find and appoint a lawyer.
Look for someone who speaks both English and Egyptian and is experienced in Egyptian property law and the local market. . - Get your finances in order
The next important step is to get your finances in order. You need to set a budget and arrange the finances for the purchase.
You should also focus on defining exactly what you are looking for, focusing on the type of house/apartments, location and price range of the property. - Find and view properties
If you want to find your dream home/apartment, you can use our real estate agency to search for properties. Later, we will go over some tips on how and where to start your search.
If you see something with potential, arrange a viewing as soon as possible and start researching the area in the meantime. - Carry out due diligence
If you’re considering making an offer on a property, it’s important to carry out some checks on it first. Have your solicitor verify the property’s legal status, ownership, claims, conditions and any other potential issues through a title search. - Negotiate the purchase conditions and sign the purchase agreement
Once you’ve found your dream home/apartment, you can instruct your solicitor to make and offer and negotiate the terms of the purchase with the seller. Once everyone is happy and your solicitor has reviewed the purchase agreement carefully, both parties can sign it. - Apply for government clearance
In Egypt, all property or land purchases must be approved by the government. So you’ll need to apply for clearance from the Council of Ministers. This is to check that the property isn’t in a restricted zone or is of strategic national or regional importance. - Complete the financing
This is the time to complete the financing. The payment terms and payment schedule will be agreed upon between both parties. - Complete the purchase
The final steps include signing the final purchase agreement and arranging for the transfer of the remaining balance. Your attorney will register the transfer of ownership with the relevant authorities and ensure that any taxes and/or fees are paid.
And then all that’s left is to collect the keys to your new home.
