Wait a sec...you're actually looking to BUY property here?? Why would you want to do that? I own a condo in Giza and let me tell you, its not worth it at all. Even if you plan on permanently residing here, you're better off renting. Its tough for Egyptians to buy/sell property let alone for an expat. Don't mean to shoot down your idea, but trust me, you don't want to get into it.
After the first revolution my condo's value went down almost 50%. No joke. It's been "on the market" now for the past year. And the funny thing that people are willing to buy it, but the sale never occurs because of all the red tape and bureaucracy here. Not worth it. The other thing is that you are likely buying a condo (cuz that's what 99% of EG is). You really don't own the condo in the sense as you would think in US/UK. soooo much red tape. I'm a US trained lawyer and having trouble. My new idea is to rent it out on a short term basis to foreigners on holiday...but I could totally see someone having a problem with that (other unit owners, the gov't, etc.). As for a good lawyer, if he's willing to take your money without at least giving you the disclosures I'm giving you, then he's not worth a damn IMO. Good luck.
This is excellent advice.
Buying any property is a long term commitment, but when not in your country of origin/knowledge you have to rely on the advice you are given and verify as much as possible. The risk of buying overseas is higher, moreso in a developing country. And if you must go ahead, avoid off-plan and buy something move-in ready.
I bought by Egyptian flat 11 years ago after 2 years of research and visiting various developments. It was brand new in an area that has stayed nice with quiet professional Egyptian neighbours. Maintenance charges continue low, security good, lifts work, common areas cleaned daily. Build quality still seems good with deterioration minimal, so no regrets from that perspective. I still think it was a bargain.
My lawyer seemed upfront with lots of information about the conveyancing process and limitations of buying into what I would describe as an owners' association. Yes it is different to UK flats (which, by the way, you can never own 100% as they are leasehold with annual charges payable to the freeholder).
For my situation I could transfer the property to my husband who has an EG passport and in retrospect we should have done that in the beginning except we weren't married then.
Apologies for the ramble... I guess to sum up if you want to buy property in Egypt: caveat emptor (buyer beware) and don't be too trusting! Oh, and one other thing, make sure the lawyer assigned to your case (not just the boss) speaks and writes in English!
