Normal 0 false false false EN-GB X-NONE X-NONE MicrosoftInternetExplorer4 Since I am seriously considering investing in one of the beachfront properties in Egypt, I decided to take a more serious look at Egypt property law. Although there are many countries that offer a relatively cheaper property investment, the property laws in such nations are so outrageously complicated that it is not really worth one’s effort to undergo a stressful buying process. In Egypt, however, the laws are geared toward promoting worry free and virtually straightforward buying process. In fact, it seems that owning a property in this country is so much easier compared to most European nations, including the UK. This helps explain why the property sector in Egypt is doing great while other markets are experiencing a terrible downturn.
Egypt property law has actually improved in recent years. According to my friend, who incidentally is an expert in property law in Egypt, the government is very serious about attracting foreign investors. So, it has created new law changes that enable quicker and smoother transactions for foreign property ownership. New regulations ensure that people from other countries, such as the UK, do not have to undergo several complicated processes just to enjoy owning a beach front property in, say, Hurghada.
Although the new Egypt property law provides good incentives when buying a home in the country, the bustling real estate market is also quite attractive in their own right. The investor in me wants to know for sure that the property that I am going to buy will keep increasing in value in the future. In many countries, property markets are in really big trouble and there is really no indication as to if or when these markets will be able to recover. In Egypt, however, the prices are very low and demand continues to increase. So if I come to sell the property that I am looking to buy, I know that I would get a good price, but I will also find a buyer easily.
Egypt property law is not the only favourable incentive the Egyptian government is offering foreign investors. The property taxes relating to Egypt property ownership, for both foreigners and Egyptians, are also favourable. Did you know that British nationals do not have to pay for inheritance tax and capital gains tax? Moreover, you dont have to pay stamp duty when you buy property in Egypt. But since these specific changes to Egypt laws are still new, it is a good idea to coordinate with a local tax and real property law expert before you buy any property in Egypt.