If you live abroad, Egyptian property is becoming less expensive.

Consider the scenario from the attitude of the rich Egyptians. If he lives abroad, Egyptian belongings have all at once come to be a whole lot much less expensive, due to the foreign money depreciation. In March 2019, the common change fee stood at EGP 17.37 in step with USD 1 – approximately 49% decline from its price of EGP 8.88 in step with USD 1 earlier than the choice to go with the flow of foreign money. For people who stay in Egypt, the decline in charges makes homes more affordable, making it the proper time to buy. There is a huge, actual call for housing in Egypt because the country’s populace will increase with the aid of using 2.5 million every year and there are approximately 1,000,000 marriages taking place each year.

Foreigners should purchase belongings in Egypt, below Law No 230 of 1996.

Foreigners can’t purchase greater than portions of actual estate, which can’t exceed 4,000 rectangular meters (sq. m.), and their reason ought to be for a member of the family to stay withinside the belongings. The buy ought to have the approval of the Council of Ministers, which takes around months.

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