May 22, 2022

- Can foreigners buy property in Egypt?

Can foreigners buy property in Egypt?

Egypt is the first country that opened the door for foreigners to buy property, because Egypt is interested in developing the real estate market and revitalizing the Egyptian economy sector, and because Egypt is one of the most important regions for tourists from all over the world, and the tourism sector is always in need of renewal and supplying the region with huge and foreign investments.

In addition, the decision to allow foreigners to buy property in Egypt helps balance the real estate market between supply and demand, and contributes to increasing job opportunities for Egyptian citizens.

Egypt allowed foreigners to buy property with ease and through simple and uncomplicated transactions. Through the passport that proves the identity of foreigners, they can own a property, in addition to some conditions such as:

1- Foreigners can buy two real estate properties in Egypt as a maximum for ownership.

2- Foreigners must adhere to a full area of ​​the two properties that does not exceed eight thousand square meters, and the area of ​​one property must not exceed four thousand square meters.

3- Foreigners must adhere to the purpose of real estate when buying property, such as residential or commercial real estate, or for the purpose of investment.

4- Foreigners must commit themselves to start implementing their investment in real estate (empty land) in Egypt within a maximum period of five years.

5- Foreigners have the right to dispose of real estate ownership in Egypt after five years from the date of the ownership contract registered in their name.

6- There are areas prohibited for foreign ownership in Egypt, especially real estate located in areas classified as “heritage or antiquities”, or real estate lands on the state borders, as well as agricultural lands are prohibited for foreign ownership.

Do foreigners who buy property in Egypt profit?

Of course, if the purchase is for the purpose of investment, you will definitely get additional benefits when you buy a property in Egypt:

- Foreigners can obtain a temporary residence that can be renewed when buying a property worth one hundred thousand dollars or more. The duration of stay is determined by the value of the investment.

- Foreigners can invest in all types of real estate: residential, commercial, land and mega projects, and investment in Egypt is available, no matter how small or large your budget is.

- The real estate market in Egypt is very diverse, and this makes investing in a property inside Egypt profitable and diversified as well. The returns of the real estate market in Egypt are always high, and the profit may reach up to 20%.

- New Egyptian cities and huge housing projects are developing rapidly in Egypt, and this opens a wide door for surely guaranteed investment opportunities.

What is the average price of a property in Egypt?

Of course, the number will be approximate because it varies according to the region and the type of property:

But for the investment of any property, we can give a glimpse:

• The price per square meter in different regions of Egypt starts from five thousand pounds, or the equivalent of four hundred dollars.
• For new cities, the price per square meter starts from ten thousand pounds, or the equivalent of seven hundred and fifty dollars.
• For the most demanded areas in downtown Cairo and Alexandria, the price per square meter may reach twenty thousand Hanna, which is equivalent to one thousand two hundred dollars.