Money is still the determining factor for many people who might want to leave their home country to live in another country. Some people look for countries where the cost of living is favorable, so they don’t have to spend much on their day-to-day activities. If you are a person who is planning to travel to live in Egypt, then you have come to the right place as this article will give you a good insight into the cost of living in Egypt.
Living in Egypt is not that expensive, as you will soon find out, and it is relatively cheap compared to many countries worldwide. With the recent devaluation of the Egyptian pound, living in Egypt is now cheaper for ex-pats.
For example, an ex-pat earning around $7.25 per hour (the minimum hourly wage in the United States) can live an easy and happy life in Egypt due to rising exchange rates. Daily expenses such as transportation, food, accommodation, security, miscellaneous, and many more are pretty affordable in Egypt. Follow along as we introduce to you in the context of this article, Units for sale in Egypt, the best places to buy a unit in Egypt.
|Off-Plan Property||Resale or Key Ready Property|
|Choose your property from a brochure or plan.|
3D renders of the project.
Prices from a price list.
Usually have interest-free payment plans for several years.
Normally carry 20-40% deposit.
Property registered on completion.
|The property is ready to view and occupy. |
Price is negotiated.
Usually requires 100% Payment to complete.
Immediate registration of Contracts and property.
The most famous statement about the benefits of real estate investing is that it never loses its value; Otherwise, it stays that way. Although Egypt has a high inflation rate, many have sought real estate as the most rewarding investment option. With ever-changing public needs and continuous development, the real estate market in Egypt has exploded over the past decade.
As the government and private sector continue to diversify their construction plans in new towns such as the New Administrative Capital, Alamein Town, and Galala Town, there are numerous opportunities for residential and commercial real estate investment.
The Egyptian economy is strong, and increased government policies to boost the country’s tourism sector are strong indicators of the future success of your property investment in Egypt.
Real estate for sale success in Egypt is largely based on the ever-growing tourism industry. At the moment, prices are incredibly low (from 30,000 euros for a beachfront apartment) and offer excellent potential for capital growth in a short time.
The growing demand for year-round vacation rentals in newly built purpose-built resorts is fueling the real estate industry and attracting well-heeled international tourists looking for modern amenities in an exciting and exotic mid-range destination. Whether a vacation destination or an investor’s dream, Unit in Egypt ticks many boxes on the property buyer’s wish list.
Foreign buyers have the right to own real estate and land in Egypt. Today, the government recognizes the high-value foreign real estate investors have for the economy’s success and is committed to actively promoting foreign buyers in Egypt. New laws were introduced to secure the procedure for purchasing property in Egypt. For example, the government can no longer confiscate or expropriate the property of its choosing – a practice that has been going on for centuries. These changes and a few other changes increase the confidence of foreign buyers.
Our team of experts (Real estate for sale) will be happy to assist you in determining the best places to buy a unit in Egypt so that you avoid possible pitfalls.
After selecting a property, you must pay a security deposit to take the property off the market while contracts are drawn up.
It is customary in Egypt to negotiate the selling price of a property if you are not purchasing your plan when the price is fixed.
Also Reading: 8 Tips for Home Buying to Ease the Process
Why should I choose a unit in Egypt?
Just a 5-hour flight from the UK, Egypt offers stunning natural features and rich history and culture that will attract visitors looking for an interesting mid-term destination. Egypt’s real estate investment climate has never been better, and the usual 20-30% returns of recent years are expected to continue.
The Egyptian economy is reassuringly stable, and the country currently has great potential for property buyers in Egypt, while prices are very low. Increased investment and new and existing infrastructure in the tourism sector will ensure the profitability of your real estate purchase.
How is the real estate market in Egypt?
The performance of the Egyptian real estate sector is one of the hottest investment areas in the country. According to the Ministry of Planning and International Cooperation, real estate growth rates have exceeded 15%. The sector has benefited from the uncertainty and instability of regional and global economic challenges.