Foreigners can legally purchase property with full “freehold” and “leasehold” rights across many districts in Egypt, Mansoor Ahmed, director of development solution & healthcare at Colliers International notes. With the new investment law, the government grants foreigners the right to buy a property and obtain a temporary residency
From the challenges facing foreign homebuyers to prominent investment opportunities in the real estate market, Invest-Gate explores what holds Egypt back from seizing a larger share in the international market of real estate exports
Invest-Gate speaks to a number of foreign expats living in Egypt, exploring the reason behind choosing the country as well as obstacles facing foreign homebuyers. “I moved from the UK to Egypt specifically because it is the safest country across Africa,” Samantha Morgan-Lister, a 47-year old doctor, who rents properties in Egypt, says. Egypt’s new legislations on residency permits gives it the chance to compete with other European countries such as Greece, Portugal, and Spain, who have similar pleasant weather year-round. However, Egypt remains at an advantage due to its low housing prices as well as its low living costs
Egypt is generally witnessing increased investments in the real estate sector for it being a safe haven against continuous inflationary pressures, yet some geographical areas experienced growth and demand more than others
Joining the Nile Property Expo’s worldwide tour taking off this month in Abu Dhabi, Egyptian property developer giant, Sixth October Development and Investment Company “SODIC” is to present its latest projects to the GCC market, following the high
demand received from Egyptian expats and Arabs alike. SODIC Managing Director Magued Sherif shares his insight on the Egyptian real estate market, tackling opportunities and challenges. SODIC has gained unbeatable recognition in Egypt and the Middle East, presenting modern thinking when it comes to the Egyptian home buying and living culture.
Page 1 of 1
