Five Things to Consider When Buying Property in Egypt

International Property often makes a great investment. The likelihood of your investment appreciating in value over the next 5 to 10 years is pretty good, if past performance is anything to go by. Something that we are seeing more and more when it comes to property investments are holiday properties, rental properties and second home properties abroad. Buying property abroad allows an investor to maximize his or her investment potential by purchasing property in up and coming areas and areas with a high volume of tourism.

One of the most popular places to buy such property is in Egypt. Why? Like most other countries, Egypt is experiencing a much smaller decline in their housing market than that of most other areas but still they too are feeling the hit of the economic times. These days, sales are down and there are plenty of properties to choose from. This means that you can buy virtually any property you want for a bargain price. The culture, allure and beauty that have always been an integral part of Egypt are still there. But now you can buy a piece of it for a fraction of the cost than you could in years past. Throughout Egypt, there are apartment homes for sale and properties to purchase. Choose from the city life in Cairo or Alexandria or choose the beach life of the Red Sea area in Egypt. Red Sea city life is different than the rest of Egypt. Red Sea Egypt property owners always say the sun shines every day 365 days of the year. It makes a nice place to own an apartment near to the sea and owning property by the beach in EGypt.

Egyptian Property: 5 Things to Consider

Whenever you buy any type of holiday property whether it be in Egypt or some other exotic location, you will have many considerations that you will need to make. You should never buy a property in Egypt without weighing the pros and cons. Here are some things you should consider:

• Location – Location is everything. Egypt is experiencing a decline in the housing market, but some places are harder hit than others. Try to choose a property in an area that will recover quickly once the downturn is over. Areas that are holding their own in spite of current market challenges are the best places to start. The Red Sea area is one such place, anywhere along the Red Sea are well established destinations with good signs of growth potential on Egypt real estate investing.

• Use – How will you use the property? Will it be used as a second income, as a holiday home or both? If you plan to sublet it, will you hire a management company to take care of the details?

• Affordability – You should be absolutely certain that you can afford all of the costs associated with the property without the extra income from a tenant. After all, you might not be able to secure a tenant right away or at all. You should be prepared for all possibilities.

• Salability – How long do you plan to hold the property? Remember; sales are down in Egypt. If you’re looking for a property that you can buy and sell quickly, you might want to look somewhere else. If you’re looking for a long-term investment, on the other hand, Egyptian property is ideal.

• Laws – Buying property abroad is different than buying property at home. You have to abide by the country’s property laws where the property is located. Some of these laws might be favorable to your situations, some might not be.

Buying property in Egypt is a venture that you should not enter into lightly. Do your homework; study the market. Hire a great agent. Do everything possible to ensure that you get the property you want and the best deal possible.


Author: Sandra Peterson


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