Selling Property in Egypt To Overseas Investors ?


The Arab Spring, which shook the Middle East in 2011, is history now. It’s 2022, and a lot has changed. Should you sell property in Egypt this year? Yes because many investors are now buying property in Egypt without visits


First, let us understand how things have changed a few years ago, Egypt was in a major turmoil. Those were days of political agitations and mass demonstrations. Not a great time to be in Egypt if you were a foreigner. Tourism had come to a standstill, and nobody really wanted to visit Egypt, forget investing in property there.


What was equally disconcerting was the rise of the Islamic State (or ISIS) during this time in Iraq, and later in Syria and Libya. The Middle East was suddenly a dangerous place to be. There were serious questions on the lack of freedom in the Middle East, as well as human rights violations.


Things did change in Egypt, albeit not by much, since the election of the moderate politician Abdel Fattah el-Sisi as the President of the country in the landmark June 2014 election. Finally, there was at least some form of democracy in Egypt.


The el-Sisi administration has done a lot to ease up business conditions in the country, and to address the serious problem that Egypt has with corruption. A new law was introduced called Law 17/2015 which removes most of the restrictions on foreign ownership of land and property in Egypt.


This law was considered critical for the development of the overseas property market in Egypt. Egypt has everything that wealthy Westerners look for in an overseas property destination – it has a great Mediterranean climate, idyllic natural scenery, friendly local population and a peaceful, laid back lifestyle. True, this wasn’t the case back in 2011, but things have been much better since then.


Sharm el Sheikh, for example, is one of the hottest tourist destinations in the world. It receives over 300,000 Britons annually and has some of the best beaches you will find anywhere, as well as bright sunshine and plenty of water sport opportunities such as scuba diving.


Sharm el Sheikh is situated on the Red Sea. The lifestyle here is peaceful and with such a huge expat community here, Sharm el Sheikh is perhaps the most cosmopolitan tourist hotspots in the Middle East. There are over 100 luxury hotels here that cater to 200,000+ tourists per week.


However, with the ISIS in the vicinity, it’s not completely safe for tourists. The ISIS has claimed responsibility for the downing of a Russian plane that took off at Sharm el Sheikh on October 31, 2015, which killed over 220 Russian tourists. And have attacked tourist hotspots since.


The Egyptian economy is heavily dependent on tourism for revenue and any terrorist attack on Egyptian soil would only have the effect of driving tourists out of the country. As it is, Egypt struggles with high unemployment and corruption. Any drop in the tourist flow can be disastrous for the country. So the government are working hard to keep tourists safe and its working. 2021 was a record year for Tourism and 2022 looks set to be much of the same post pandemic.



If you’re looking to sell property in Egypt, the time to get out is now Russian investors are snapping up properties without visits.

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