Buying your first property in Egypt is an exciting milestone, but it comes with its own set of challenges. This comprehensive guide walks you through every step of the process.
Understanding the Market
Before you start viewing properties, it's essential to understand the distinction between off-plan (new) and resale properties. Off-plan purchases from developers typically offer extended payment plans — often 6 to 10 years with minimal down payments — making them accessible to younger buyers. Resale properties, on the other hand, offer immediate occupancy and the ability to see exactly what you're buying.
Legal Requirements
Egyptian property law allows both Egyptian nationals and foreigners to own property, with certain restrictions on land ownership for non-Egyptians. Key legal steps include:
- Title Verification: Always verify the property's title deed (green contract or registered contract) through the Real Estate Publicity Department.
- Power of Attorney: If buying through an agent, ensure proper legal authorization.
- Registration: While many transactions in Egypt rely on preliminary contracts, full registration at the Real Estate Publicity Department provides the strongest legal protection.
Financing Your Purchase
Several financing options are available:
- Developer Payment Plans: The most common route for new properties, offering installments over 5-10 years.
- Bank Mortgages: The CBE mortgage initiative offers subsidized rates for certain income brackets and property values.
- Cash Purchase: Offers the strongest negotiating position, especially in the resale market.
Common Pitfalls
- Not verifying the developer's track record and delivery history
- Skipping the legal due diligence on title and permits
- Underestimating finishing and furnishing costs for core & shell units
- Not factoring in maintenance fees and compound service charges
Our Advice
Work with a trusted real estate consultant who knows the market intimately. At AddressOn, our team guides you through every step — from initial property selection to final handover — ensuring a smooth and secure transaction.