Real estate in Egypt review

Things to Know About Real Estate in Egypt

If you are planning to invest in real estate in Egypt, you may want to know the local market before buying or selling property. Here are some things to know about real estate in Egypt:

Economic growth

While the overall demand for residential units is expected to remain strong, it is primarily concentrated in the upper and mid-income segments. This is reflected in a lack of available supply, as most of the major developers are catering to the upper classes. In addition, the number of slums has doubled in recent years, leaving just 1% of Cairo's urban areas as slums. The government has introduced new regulations aimed at improving the quality of living for residents. Check out Hassan Allam apartment to learn more.

Housing stock

While a large number of Egyptians are privately owned, a significant proportion are renters. The housing shortage is a result of high population growth and an increased migration rate from rural to urban areas. The public and private sectors have struggled to meet this need. Between 1980 and 2000, three-fifths of private investment was directed towards residential construction. During the same period, resources were also directed to improving identified slums and developing new development areas. In addition, a new capital city was constructed.

Investment opportunities

Purchasing property in Egypt is a fun, risk-free way to invest. Moreover, you can get the benefit of getting into a visionary project at an early stage. In Egypt, there is no stamp duty or other taxes on real estate, which makes it easy for you to reap the maximum returns. You can buy an off-plan property, and sell it before the completion date. In this way, you can profit from the low prices as well as excellent rental incomes.

Legality

If you are planning to purchase a property in Egypt, you should be aware of the rules regarding the legality of real estate. The rules regarding property ownership in Egypt are specific to each area and will not apply retrospectively. For example, non-Egyptians cannot dispose of their property before five years after it has been acquired. Non-Egyptians who purchase a property before this time must first develop it within that time. If they do not comply, the prohibition period will be extended by one year. In addition, there are certain areas that are restricted to Egyptian ownership only.

Property development

Property development in Egypt is a popular option for investors and home buyers alike. The market is developing rapidly with a variety of residential options to choose from. Investments here are generally high-end and boast high RORIs and capital growth. The right location is key to the success of any investment, however, as the wrong location can have significant disadvantages. Listed below are some benefits to property development in Egypt. You can choose to buy or rent your dream home in Egypt for the best possible price.