Property in Egypt
Posted on February 16, 2009
Filed Under Property short sale |
The current hotspot for overseas investors is without a doubt Egypt.Low prices means many investors are not having to approach cash starved banks who have made lending harder. Seasoned investors can put a deposit down using a credit card and pay small monthly payments on many off plan or pre construction properties
So lets learn more about Egypt. Officially the Arab Republic of Egypt situated in North Africa it includes the Sinai Peninsula, Egypt borders Libya to the west, Sudan to the south, and Israel and the Gaza Strip to the northeast; on the north and the east are the Mediterranean Sea and the Red Sea, respectively. Egypt increasing tourism and desire to attract overseas property investors combined with low prices makes it a very attractive place to buy property
Egypt Property Hotspots
Tipped for the Top Sahl Hasheesh Egypt.
A stunning s mega resort in the shape of Sahl Hasheesh,with 20 five star minimum hotels and eight golf courses.Sahl Hasheesh is just 20 kilometers south of the Hurghada Airport and located along a 12 kilometer-long bay of the Red Sea. The climate here is nearly perfect year round, with averages in the winter around 14ºC and in the summer approaching 30ºC. There will be an Old Town with bars, shops and restaurants at the heart of the new development, as well as medical facilities, water sports and a sunken city for divers and snorkeling.
The first golf courses are scheduled to open in 2008, with the Old Town opening its first shops and clubs in mid year as well. Several hotels are already open, including the Pyramisa, The Oberoi and Palm Beach Piazza.
Hurghada Egypt.
Considered by many as the leading bathing resort of Egypt this area has attracted international investors.
Red Sea Egypt.
The Red Sea Riviera is a great place to dive with a stunning coastline and low prices for off plan property and new homes buyers can find cheap property in Egypt
Luxor Egypt.
Luxor is an attractive place for tourists and includes the Valley of the Kings and Karnak.Luxor is a city of some 150,000 people and is governed by special statues that allow it more autonomy
Investment property in Egypt.
Overseas investors know that profits are made on the purchase price and with low entry prices Egypt is set for good capital growth. Buying off plan property in Egypt allows investors to pay with staged payments. This means for the price of a second hand car investors can enter a market that has so much potential. The government is continuing to commit to legislative initiatives designed to enhance the investment climate demand for quality property for sale and short term let is increasing.
Buying property in Egypt is a very attractive proposition; it offers a whole host of advantages including:
Lots of sunshine
Inexpensive flights
Low cost of living
A unique atmosphere
Low property prices
Diving destination of the world
Increasing tourism
Government favourable to overseas buyers
Sound investment potential
Nicholas Marr
http://www.articlesbase.com/finance-articles/property-in-egypt-388034.html
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3 Responses to “Property in Egypt”
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I have bought a property in Egypt, fully paid. Do I need a Judges stamp ?
I am confused as I want my documents stamped by a judge confirming I have ownership. I have the agencies stamp but I have not been to any court. Can someone inform me of the right procedure
Sorry, note I am an English passport holder
Yes, you need to register the sale with the local government offices, for your safety. There is a Tax to pay when doing it, but if you dont, you never really own the property. Seek out a reputable lawyer, pref one who has been recommended by a good friend (so you can trust). OR, get advice from a rep agency on how to go about it.
Good luck, its a tricky business, i found it very long-winded & costly when i did it 7 yrs ago.
References :
English Ex Ex-pat, lol, i went back home.
yes.
two steps
go to the office of Al Shahr El 3aqary , Registration, of the district in which the property exists .
go there to register the signatures in the contract .
this is easy and not expensive .it is done on the spot .
next , go to a good lawyer and ask him to take the necessary steps to register the property in your name in the books of the registration.
this can be a bit expensive , you pay according to the total price of the property .
References :