Egypt is an interesting country with a rich thousand-year history. The problem of overpopulation of the capital of Egypt - Cairo - prompted local authorities to start large-scale projects to build not only new housing in Egypt, but even entire new cities. They have become a mecca for foreign real estate investors.

Features of new housing in Egypt

Real estate in Egypt from the developer is distinguished by its good adaptability to the local climate. Most often, climate control systems or central air conditioning systems are found in the properties, but not only. They are also characterized by:

Affordable cost. Prices for new buildings in Egypt are lower than in other popular tourist countries such as the UAE.
Tourist attractiveness. Properties are often located either on the Mediterranean or on the Red Sea coast. Such housing is in demand among tourists, which means it will allow you to earn money on rent.
Flexible purchase terms. Egyptian developers provide properties at a discount or under a preferential lending system at the early stages of construction.

Cost of new housing in Egypt

Prices for new buildings in Egypt depends on the specific location of construction. Real estate in the resort cities of Hurghada or Sharm el-Sheikh is more expensive due to increased demand. In developing areas, prices are not much lower, but you can also find budget options.

Average cost of new housing in Egypt:

City	Average price per sq.m (USD)
Cairo	1200–1500
New Cairo	1000–2000
Sheikh Zayed	1500–2500
Alexandria	1000–2200

Nuances of investing in real estate from a developer in Egypt

Buying properties in a residential complex in Egypt is fairly standard, but not without nuances. For example, foreigners who want to buy housing on the Sinai Peninsula can only issue a 99-year lease. This is not much different from full ownership, but requires the approval of any actions concerning the property with the landlord. In the African part of the country, foreigners are allowed to buy no more than two properties up to 4,000 sq.m each.

For foreigners, buying a property in Egypt also opens up the possibility of obtaining a resident visa for up to 5 years, and with investments of $300,000 or more – even citizenship.

Popular cities for purchasing residential complex in Egypt from developer

Egypt offers many attractive places to buy real estate. But Cairo is not among them, since the local real estate market is heavily overloaded. The authorities decided not to pay much attention to the capital, but built New Cairo, which slightly eased the situation in the capital. According to the same logic, the New Administrative Capital (temporary name) has been built since 2015. It is designed for 5 million residents, but due to high prices, it has not gained much popularity among the middle class.

Hurghada. This resort on the Red Sea is the leader in the number of offers from developers. Here you can find affordable apartments and villas with sea views. The city attracts with its mild climate and developed infrastructure.
Sharm el-Sheikh. Situated on the Sinai Peninsula, this city is popular among beach lovers. Residential complexes in Egypt here often include premium amenities such as private beaches.
El Gouna. A small, upscale resort known for its canals and cozy atmosphere. Suitable for those looking for exclusive accommodation.

Guides on Buying New Builds in Egypt

Personal Experience of Living in Egypt: Pros and Cons, Prices and Slowness of Locals

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.

New buildings for sale in Egypt