Guides on Buying New Builds in Egypt
FAQ on new buildings in Egypt
What is the list of documents needed for foreigners to buy new housing in Egypt?
It is necessary for foreign persons to have a passport and a valid visa confirming their lawful stay in the country. No other documents required.
Is it necessary to pay taxes and commissions when buying real estate from a developer in Egypt?
The buyer pays a tax fee ranging from 1,000 Egyptian pounds (about $32) to £2,000 (about $64), depending on the total area of the property purchased. When buying an apartment in a new residential complex in Egypt you also need to pay the commission of the realtor (1.5-5% of the cadastral price of the property).
Is a residence permit issued for the purchase of new housing in Egypt?
For the purchase of property from $ 100,000 foreign investors receive a one-year residence permit, from 200,000 - three years, from 400,000 - five-year. If the apartment or house is less than 100,000 dollars, the residence permit is issued for six months.
In which Egyptian cities people buy new properties most often?
Increased demand for residential complexes in Egypt can be viewed in the popular resorts - Hurghada and Dahab. Apartments in new buildings in Cairo and Alexandria are also being actively purchased.
