Egypt
Real estate property in Egypt
Why investing in real estate of Egypt is so effective?
There are numerous reasons to buy a property in Egypt. Everybody finds its own motive, but some common truths are obvious.
Among them are:
Climate in Egypt
Egypt is admitted to be Paradise on Earth due to its climate. Its unique climatic environment made Egypt the cradle of Life (remember the empire of Ancient Egypt). A lot of sun, mild breeze from Mediterranean and Red Seas, hot summer and warm winters, send beaches and bright &fascinating underwater world – these all attributes any human being can consider the main criteria of Paradise. Any Egypt is rich in them. So it’s not surprising many people, who have ever had a tour to Egypt, wish to come back here again and again. If you remember some of world wonders located exactly in Egypt and add the extremely interesting and mythical history of Ancient Egypt, you can easily understand why Egyptian resorts are so popular.
Egyptian taxes and laws
We will not advertise Egypt for you. There is no need in it. The plain figures can prove everything you wish to find here. So what expenses you’ll have in Egypt as a landowner?
1) The total tax from each Property Purchase contract is 3%. Additionally the foreigner is paying to Notary he chose to make and register the Purchase contract, but the price never exceeds 50$.
2) The annual property tax is only 5 cents per each square meter of your real estate. So if you have a 400sq m condo somewhere in the beach, your property tax will constitute 20$ per year.
3) The average month price of all public utilities in the apartment varies from 10$ till 40$ (depends on your needs and amount of members in your family).
All expenses you have when acquisition the real estate in Egypt are mentioned above.
The procedure of purchase is also easy.
For purchase you need to have only one Document – your passport. The physical body is signing the Purchase Contract with owners of property. Then the contract should be notarized. Since the contract is notarized it comes into a force and you are the owner of Real estate in Egypt. After that the contract is registered in local court to receive the official certificate of Owner.
Economics in Egypt
More and more people all over the world are choosing Egypt for investments or as their second home country. The economic of Egypt is stable within last 15 years, the prices are extremely low. The economics of Egypt is minimum affected from World Crisis and will not depreciated. That’s why investment in Egyptian property is a real way to increase your savings. The statistics proves it in figures – about 50% of Egyptian property is owned by foreigners. It’s high time for you to join the successful landlords of Egypt!