An Egyptian Property Seller’s Guide

Here are a few pointers to help you quickly and profitably sell your Egyptian property. After recent events, Egypt’s real estate market has rebounded, and tourists from the UK, Russia, and Europe are returning.

 

It appears that foreign investors from cash-rich countries like the Middle East, UAE, Russia and China are once again purchasing Egyptian homes.

 

Hurghada and Sharm-el-Sheikh, two of Egypt’s most popular tourist destinations, have seen a 60% surge in visitors and property investment. The capital of Egypt Cairo and Luxor are also rebounding with a record 25,000 homes sold in 2021 to international investors and figures predict 2022 is poised to follow the same patterns.

 

There are a few things you need to know even if you’ve never purchased or sold property in Egypt before. All of Egypt’s “lawyers” are either untrained or unscrupulous, and you’ll need a trustworthy one to represent you. To be on the safe side, ask for a referral to a competent attorney from your real estate agent. This is something that we are able to assist you with.

 

Searches will need to be conducted to discover if your house is eligible for sale in tourist hotspots, since many properties were erected illegally without planning licences. Your online real estate agent should be able to tell you whether or not your complex is suitable for resale. Engage the services of an experienced agent who is fluent in the languages of countries like Russia, China, and the United Kingdom.

 

It is imperative that you get the advice of an Egyptian lawyer before engaging in any real estate transaction in Egypt, and unless you have previously worked with an Egyptian lawyer, you should avoid doing so.

 

If you’re selling Egyptian property, you may choose from a variety of different trading methods, based on the value of the region and the sort of property you’re selling. The buyer of new off-plan houses must always pay a 10% deposit of the purchase price. As the purchasers are always international, a multi-lingual contract is written up at this point. This contract will then have all the specifics of all stage payments accepted by both parties.

 

The deposit for resale homes is typically between 15 and 20 percent and is non-refundable under Egyptian law, depending to the conditions of the agreement. Following a thorough investigation by the buyer’s attorney into the title to the property and any liens or encumbrances on it, When the final payment is made, the deeds are often switched over.

 

To achieve the greatest possible price from the buyer, you’ll need the guidance of a trusted specialist in Egyptian real estate resales. When you buy in Egypt you open yourself up to tens of thousands of potential customers since we promote in every language and in every cash-rich country.

 

For fast and free guidance on how to sell property in Egypt, contact us immediately.

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