Steps to Buy Property in Egypt: A Comprehensive Guide

8 Steps to Buy Property in Egypt

Egypt is known for its active and diverse real estate markets, catering to various budget requirements. If you're preparing to buy property in this country, you can follow the key steps outlined below:

1. Research and Analysis

 Before engaging in the buying process, conduct extensive research on real estate markets in targeted areas. Look for high-demand regions with future growth potential. Consulting real estate agencies or local market experts can be helpful. Keep in mind that property prices vary significantly in Egypt, allowing you to choose an area that suits your budget. For instance, reasonably priced apartments can be found in areas like ‘the 6th of October’ and ‘Al-Obour’, while real estate prices in ‘Greater Cairo’ tend to be higher.

2. Set a Budget

 Egypt offers a wide range of property options to meet different budgets. You can find affordable apartments in rural areas and luxurious villas for investors with larger budgets. Carefully set your budget, considering prices, tax variations, and legal fees.

3. Legal Assistance

 It's crucial to collaborate with a local real estate lawyer to assist in examining and verifying documents. This includes ensuring the property's legal security and the transaction's legal validity. Additionally, a real estate broker can play a vital role in providing legal advice and facilitating the buying process, acting as an intermediary between the buyer and seller.

4. Negotiation and Offer Submission

 After finding a suitable property, initiate negotiations with the seller. Working with a real estate agent may be advisable to ensure that the agreement reaches a mutually satisfactory point. Present your offer after agreeing on the terms.

 A real estate broker can help in settling agreements and confirming deal conditions. They can tailor offers to match your budget and requirements. At Imtilak Global, we prioritize providing the best prices for our clients through effective negotiations and leveraging our expertise in the Egyptian real estate market.

5. Contract Signing

 Once a final agreement is reached, the official sales contract is signed. The contract should be transparent, specifying all deal conditions, including prices and timelines.

6. Property Registration

After signing the contract and completing the purchase, the next step is to register the property in the real estate registry. This step is crucial to ensure the deal's validity and establish actual ownership. To execute this process, specific steps need to be followed:

Registration Requirements:

• Sales Contract: An original signed sales contract with additional copies for registration.
• Action Document: The buyer must provide an action document proving their right to purchase, specifying the property's purpose, whether for residence or investment.
• Certificate of Passage: The seller should submit a certificate of passage for the property.

 Required Procedures:

• Visit the General Authority for Real Estate Registration: The buyer or their representative must visit the authority to submit the necessary documents.
• Completion of Official Forms: The buyer fills out official forms related to property registration and submits them to the authority.
• Fee Payment: Both parties are required to pay fees associated with property registration based on the applicable tariff.
• Ownership Inspection: The authority conducts an inspection to ensure document accuracy and verifies the absence of any legal issues.
• Property Registration: Once all conditions are met, the property is officially registered in the land registry, confirming the buyer's ownership.

While the authority aims to facilitate the registration process and guide parties through the necessary steps, seeking the assistance of real estate lawyers is essential to ensuring the smoothness of this process and avoiding future complications.

7. Fee and Tax Payment

When purchasing property in Egypt, the buyer must bear certain fees and taxes integral to the buying process. Here is an explanation of the main fees and taxes that may apply:

• Registration Fees: An essential part of the property buying process, these fees are imposed upon registering the property in the real estate registry. The amount is determined based on the property's agreed-upon value in the contract.
• Transfer Fees: Transfer fees relate to the transfer of ownership from the seller to the buyer. It is crucial to pay these fees to confirm the change in property ownership.
• Property Taxes: Property taxes in Egypt are imposed on real estate properties and vary according to the property's overall value. Buyers are obligated to regularly pay these taxes.
• Advertising Fees: Occasionally, advertising fees may be requested to permit the publication of property details in official newspapers and other advertising channels.
• Legal and Consultation Fees: Legal professionals or consultants providing guidance throughout the buying process may charge fees for their services.
• Government Fees: Some additional governmental fees may be imposed on the transaction, depending on factors like the property type and location.

These fees and taxes are crucial to ensuring compliance with legal regulations and government requirements. Since these fees may vary based on the prevailing legal framework, it is advisable to stay informed about legal updates or consult a real estate lawyer for accurate and up-to-date information on the required fees and taxes.

8. Property Handover

After completing all procedures and paying all fees, the actual ownership of the property is handed over to the buyer.

Buying Property in Egypt with Imtilak Global:

After this guide, we strongly recommend working with our company, Imtilak Global, when buying property in Egypt. We take pride in providing outstanding services in the Egyptian real estate market. Our team possesses extensive experience to make the buying process a successful and hassle-free experience.

Before the Sale

• Specialized Consultation: Our team of experts offers specialized consultations to assist you in identifying your needs and finding the perfect property within your budget.
• Best Offers Provision: Our brokers provide exceptional offers and negotiate to secure the best prices for buyers.

After the Sale

• Legal Services: We offer comprehensive legal support to verify documents and ensure the legal safety of the transaction.
• Registration Services: Our brokers provide complete support for the property registration process, ensuring effective ownership transfer.
• Property Management: Our company offers property management services to assist you in leasing and maintaining the property post-purchase.

In summary, you can rely on our company, Imtilak Global, to provide an ideal property-buying experience in Egypt. We strive to offer comprehensive and professional services to make your journey into the real estate world a successful and comfortable experience.