7 Tips to Follow Before Buying Your Dream Home in 2023

7 Tips to Follow Before Buying Your Dream Home in 2023

Real estate is among the most traditional means of investment, being a safe haven for long-term investors.

In the Egyptian market, as an example, prices usually go no way but up despite the current challenging economic situation the world is facing and suffering.

However, Egypt is witnessing a revolution in urbanization with the building of new cities like the New Administrative Capital, New Galala, New Alamein, etc.

With these new cities, Egypt is moving towards smart and sustainable development and you should, therefore, book yourself a place in the future of the real estate.

As an investor, you must ensure that you are getting your money’s worth, or at the very least, get what you have been promised.

So, let’s jump right in and count our tips for buying your dream home in 2023.

1- Consider Financing Options

The challenging economic conditions in 2022 took their toll on the real estate market. With inflated unit prices, triggered by sky-high building material prices, mortgage finance is a reasonable choice for many.

At the end of December, Egypt’s Financial Regulatory Authority (FRA) increased the installment limit for the mortgage finance schemes to up to 50% of the purchaser’s income, from a range between 35% and 40%.

Accordingly, you have the chance to upgrade your aspirations for your dream home.

FRA’s data shows that finance mortgage companies provided EGP 4.2 bn in mortgages in the third quarter of 2022, 71.5% higher than last year.

Other finance options are installments. Many developers in the Egyptian market are offering installment plans of up to 12 years with 10% down payments.

2- Check Developer’s Background

With several newbies in the real estate sector, you might be confused regarding the one you choose to buy from.

Of course, being new in the market is not a problem if new companies begin big and build good portfolios. You are encouraged to do thorough research and to be able to do that you need data.

Check the recent projects posted on real estate developer’s websites to be updated on the latest projects that may meet your expectations for location, design, or prices.

3- Review Delivery History

One of the crucial aspects that will give you a complete picture of a developer is its ability to deliver on promised times.

Being punctual in deliveries sends a positive message to customers and proves credibility and reliability.

You may not depend on the official websites of developers to extract ample information relevant to delivery, and – apart from reviews and testimonies – there is a good way to do that.

You can also check companies’ announcements on the official website of the Egyptian Exchange (EGX).

Gathering all this news and information will help you compare companies’ promises and plans to what took place, in reality, to check if they deliver projects with all phases on time.

4- Know Developer’s Financial Position

Data you may collect about developers will also help you paint a picture of their financial capabilities which has a direct impact on their abilities to meet deadlines and satisfy the needs and expectations of their clients.

Companies’ financial statements are the perfect aid where financial matters are concerned. These statements can be found on EGX’s website and economic news websites.

5- Examine The Legal Ground

You may take the extra mile and verify the promises of your chosen developer.

A reliable developer should obtain and maintain all required legal documents and regulatory approvals for land and buildings.

This information may not be easily accessible, but at least you can trust companies listed on the stock markets. These companies are obliged by EGX to disclose all necessary information periodically. These disclosures are accessible and reliable.

That, of course, doesn’t mean that non-listed developers are less credible. For such developers, you may contact them directly to check their documents, or may contact authorities to verify their legality, should that be applicable.

6- Read Some Reviews

You can check new real estate projects and the latest news in the sector on some property blogs like

These websites provide you with very useful info including new projects and their prices.

You can also rely on reviews from your own circle, as word of mouth is the ideal way to tell you about the best real estate offers, as well as the developer you should buy from.

Some projects have already established a good reputation and can be a safe option in case of hesitation.

These developments offer various units from villas to apartment buildings. They also introduce a new concept of integrated carefully-planned cities

7- Do Some Field Trips

It is not enough to do all your investigations online, or over the phone.

Before signing a deal with any developer, try to make some effort. Visit the location of the compound or the city you want to buy in and make sure that units are complete and have a tangible existence, rather than just being on a blueprint.

That doesn’t mean that you can’t buy a unit that is still under development.

In that case, you can check the progress of works on land, or check other developments by the same developer to ascertain that they deliver on time and with good quality.

Finally, buying a property is not an easy decision. It requires a lot of planning and research. But it is better to hurry and take a decision quickly, as prices are prone to rise more this year.

Experts in the Egyptian real estate market expect unit prices to surge by up to 30% in 2023 amid anticipated increases in prices of building materials and corrections in the exchange rate.

That shouldn’t be disheartening, as developers are launching and planning new projects, with more investments on the way, especially after the New Urban Communities Authority announced new measures allowing companies outside Egypt to buy land in new cities and pay in US dollars.


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