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May 22, 2022 | Properties

- Can foreigners buy property in Egypt?

- Can foreigners buy property in Egypt? | Properties Egypt #3085 - 1 image

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 defin...

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May 27, 2022 | Directory

Apartment for rent in Cairo for students

Apartment for rent in Cairo for students | Directory Egypt #3180 - 1 image

How much does it cost to rent an apartment in Cairo?One of the very common questions in the Egyptian real estate sector, especially the question of young people and students of prestigious universities in Cairo, about the cost of renting an apartment.Cairo includes prestigious universities, intended for Arab and foreign students from all over the world, especially those interested in studying at Al-Azhar University, Cairo University, or Ain Shams University. So, here, let us give these students a quick overview of the cost of renting an apartment in Cairo within the Nasr City area, which is close to these universities:The cost of renting an apartment in Cairo within "Nasr City":Nasr City neighborhoods are the closest to Al-Azhar University, where students rent apartments. The cost of renting an apartment in Nasr City starts from 250 pounds per month for a student in a small apartment or room, bathroom and kitchen. Students can also participate in renting an apartment together and dividing the rent amount among themselves, where there are apartments for 2000 Egyptian pounds, furnished and equipped, two rooms and a hall, and the prices increase according to the area of the apartment and its proximity to the university and services.How much does it cost to rent an apartment in Cairo within the "Sixth District - Nasr City"?The sixth district in Nasr City is the closest to Al-Azhar University for male and female students, as well as the Al-Azhar university cities, where there are a number of apartments for rent for students, either individually or jointly with a number of students.The average rent price for the sixth district in Nasr City starts from 350 pounds per month and increases to 500 pounds in apartments with small areas and far from the main streets. In the case of large spaces or the apartment being near the university headquarters, the price starts from 3000 pounds per month, especially in the case of the residential building is close to re...

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May 31, 2022 | Properties

Real estate market in Egypt: Statistics

Real estate market in Egypt: Statistics | Properties Egypt #3286 - 1 image

What is the real estate market like in Egypt?Let's look at a general view of the real estate market in Egypt, where those wishing to buy residential properties express in preparation to pay a premium of up to 45% to acquire a property in one of the communities that provide amenities and luxury, especially those located in the new development areas. Although the price per square meter exceeds 18 thousand pounds in such places, compared to an average of 14.5 thousand at the level of Greater Cairo, the demand for luxury housing has become a milestone for the real estate market in Egypt, and its luster is not expected to fade in the foreseeable future.The real estate sector represents about one-fifth of the GDP of the economy in Egypt, and is witnessing a steady growth, supported by the increase in the population of two million people annually, as well as the movement of movement from the countryside to the cities at a rate of 2% annually.These factors boost the demand for residential real estate in the real estate market in Egypt, especially the capital, Cairo, which has expanded over the past decades. Today, the residential centers in the Egyptian capital include the traditional downtown Cairo area, and in its east, New Cairo and Shorouk City, up to the new administrative capital under construction. It also includes the existing West Cairo area and the West Cairo extension area under development. The new areas are considered the largest source of the supply of housing units.The statistics of the most important real estate consultancy companies determine the size of the real estate market in Egypt, specifically housing properties at the level of Greater Cairo at 7.1 million housing units, and it is expected to rise to 7.6 million units by 2025.It is worth noting that 20% of the additional units are of the luxury category known as "Lux", specifically in the two areas of New Cairo to the east, especially the Fifth Settlement, and west of Cairo, where the ci...

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May 11, 2022 | Properties

Glimpse: Do people own land in Egypt?

Glimpse: Do people own land in Egypt? | Properties Egypt #2979 - 1 image

Do people own land in Egypt?All Egyptians can own land in all parts of the country, but Egyptian laws set certain conditions for non-Egyptian foreigners to own land and real estate.It is known that Egypt has many agricultural lands, but these agricultural lands are only sold to those who hold Egyptian citizenship.As for the other lands (empty land), it is like any other real estate that an Egyptian and a foreigner can buy.As for the most important laws of foreign ownership of land in Egypt, they are:- Owning only two real estate in Egypt.- The maximum total area of real estate owned by a foreigner is eight thousand square meters, and the maximum for each land or property is four thousand square meters.- The process of construction or investment in the land purchased by the foreigner must be carried out within a period of five years, or his authority to dispose of this land must be suspended.- The areas identified by Egypt as belonging to the protection of antiquities are, of course, prohibited from selling.Do people own land in Egypt? Why has such a question become so popular for non-Egyptian foreigners?The land of Egypt is a wonderful opportunity for investment. We are talking here about a very ancient land with diverse terrain and geography, and in many ancient and modern cities and cities under construction now.Egypt is characterized as a country that is very open towards modern civilization, and all its modern cities have been designed to be fourth-generation cities, i.e. smart and developed cities with modern technology and take into account the standards of sustainability.People own land in Egypt within the new urban complexes:The authority responsible for real estate development in these modern complexes and cities presents a set of organized plots of land for sale in modern areas in Egypt.In the latest real estate statistics that monitor the process of selling lands in the cities of Egypt, it was noted that lands designated for industrial and service activit...

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May 27, 2022 | Discussions

Analysis: Real estate market in Egypt

Analysis: Real estate market in Egypt | Discussions Egypt #3179 - 1 image

How is the real estate market in Egypt?The real estate market in Egypt is a broad and multi-field concept, and here we must take a deeper idea about the main points that make up the real estate market in Egypt:1- Real estate is so influential sector for the Egyptian economy, as real estate represents about a "third and a half of a third" of the wealth of Egyptian families from the middle and high-income classes, and even more than that for the low-income class. In addition, indicators of the success of the future of real estate investment in Egypt are witnessing a doubled growth in its revenues at the level of the Egyptian Stock Exchange, as the real estate sector has grown by more than 20 percent recently, and its total contribution to the GDP has exceeded 10 percent.2- The real estate market in Egypt is not a "single homogeneous sector" across the country, as this market is "divided geographically" between Cairo, the coastal areas, and the rest of the regions throughout Egypt. Most discussions about real estate focus on the first and second categories while the rest of the market does not get enough coverage. The real estate market in Egypt can be divided in another way in terms of category, where we find luxury housing, luxury apartments, medium housing and social housing. The last three categories of this division receive less attention, although they are very profitable, and are considered one of the indicators of the success of the future of real estate investment in Egypt, as it is a golden and guaranteed opportunity.3- The real estate market in Egypt is going through a "bubble", as the rate of increase in real estate prices is much higher compared to the rate of increase in construction and finishing costs. These prices feed the investment objectives and not the real demand to move or upgrade. This "bubble" is exacerbated by the sharp decline in the value of the Egyptian pound, where real estate acts as a sto...

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May 26, 2022 | Properties

How much does it cost to rent in Cairo?

How much does it cost to rent in Cairo? | Properties Egypt #3171 - 1 image

How much does it cost to rent an apartment in Cairo?Cairo is the ancient capital of Egypt and one of the very old and always inhabited cities, and it is considered a super vital center in the entire Arab region. Although Cairo is also one of the most populous cities in the world, it is always a destination for work and stability, and all those coming to Cairo have the first question in their minds: How much does it cost to rent an apartment in Cairo?When we talk about Cairo, we mean a place larger than any ordinary city in the world. Cairo itself is a city and an entire governorate, officially comprising thirty-seven large neighborhoods distributed on the four sides, east, south, west and north, and all its neighborhoods are residential and densely populated, and everyone asks: How much does it cost to rent an apartment in Cairo? Or ask about the cost of apartment prices in different neighborhoods within Cairo.Cairo since ancient times is an important city internationally because it includes a wonderful diversity in the cultural, commercial and economic movement, in addition to being one of the most important cities in the world on the map of historical tourist places, and because many foreigners come to it permanently, we note that the search for an apartment for rent in Cairo is very active, and also Egyptian citizens, they are looking for an apartment for rent in Cairo, for several reasons, not everyone has the ability to buy an apartment, and sometimes the purpose of renting an apartment in Cairo is to stay for a certain period only to study or work, so it is important to take a look and answer our question: How much does it cost to rent an apartment in Cairo?In numbers; How much does it cost to rent an apartment in Cairo?The neighborhoods of Cairo are many and vary between the old neighborhoods and the new neighborhoods and the developed urban expansion that is now rising on the outskirts of Cairo. Therefore, the cost of renting an apartment in Cairo varies acc...

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