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Buying and selling real estate in Egypt
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Property in Alexandria
Alexandria is one of the oldest cities in Egypt. This city is considered the capital of world science, culture and commerce. Alexandria has always been the royal residence, well-known people of history and the science lived here. Now Alexandria is the largest port of Egypt, so it has great economic importance for the economy.
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Property in Egypt
Today Egypt is the country that in addition to quality resorts offers one of the cheapest real estate in the world. Buying property in Egypt's Red Sea coast may be available not only for rich people, but also for many middle-class. According to statistics, almost half of the new resort real estate of Egypt is acquired by the citizens from Germany, Holland, Britain and the CIS. They consider buying real estate in Egypt, not only as the place to stay during the holidays, but also as the promising investment projects. The potential of Egyptian real estate market is huge, and soon the demand for property on the Red Sea in Egypt will increase by several times. Therefore, investors realize that Egyptian real estate will be such cheap not always, as it becomes more marketable and thus more expensive.
Now owners of apartments and villas in Hurghada, Sharm el-Sheikh, Dahab get good extra income by renting. Utility costs in Egypt are minimal and are no more than $20 per month, however, the tourist season lasts all year round. Therefore, renting property in Egypt is justified and profitable, some property owners in Hurghada receive up to 30% of the property cost per year.
But the annual increase of property prices in the main resorts of Egypt brings higher dividends to holders of real estate in Egypt. According to analysts, now the annual increase in price of real estate makes up 10%, but soon this figure may reach 40%. Potential buyers can be sure that not only the cheap cost of Egyptian real estate makes it so popular, but plenty of other advantages:
- Minimum utility costs and low purchasing property taxes. And in Egypt there is no annual property taxes;
- Excellent climate allows to take property for rent year-round;
- Lack of industry on the Red Sea;
- Developed tourist infrastructure and the best diving centers;
- Steady growth in property prices and demand;
- Visa-free regime and proximity to Europe.
