Buying a flat in Egypt as a foreigner, where to start
A flat on the Red Sea often costs about as much as a studio in a mid sized European city, and that is exactly why the decision is sometimes made too quickly. Before you start looking at offers, a few questions are worth answering.
Foreigners do buy flats in Egypt, Hurghada included, and the path is well worn. The formalities, however, depend on the specific property, its legal status and whether the building has its paperwork in order. There is no single instruction that fits every purchase.
Start with what the flat is for
A place for your own holidays, a place to rent out and a place to live in for months are three different purchases. For renting out, proximity to the beach, a pool and ease of handling guests matter. For your own use, quiet and a comfortable layout usually win, even at a worse address.
- For holidays, meaning a few weeks a year
- To rent out for most of the year
- For longer stays or wintering
- A combination of the above, which usually means a compromise
The state of the finish changes the sum
Flats are sold in very different conditions, from bare shell to fully furnished with appliances. The price per square metre can look attractive until you add the cost of finishing, which is harder to supervise from abroad than at home.
Ask what stays in the flat. Air conditioners, fitted kitchens and appliances are sometimes part of the deal and sometimes not, and sorting that out afterwards is awkward.
Running costs, which few people ask about
The compound maintenance fee, the pool and security, electricity, water and any local taxes. For a flat used a few weeks a year, these are the items that decide what owning it really costs.
A separate matter is who looks after the flat while you are away. Someone has to take the keys, air it out and check that nothing is leaking. If you plan to rent it out, you also need someone on the ground to handle guests.
Viewings, even remote ones
Do not buy from photos alone. The minimum is a video recorded live inside the flat, showing the stairwell, the lift, the surroundings of the building and the way to the beach. A drone shot looks impressive but will not tell you that the nearest shop is a twenty minute walk.
Documents and caution
Checking who actually owns the property and whether its status is settled is the most important stage of the whole process. This is the moment where saving money on a lawyer tends to be the most expensive decision in the transaction.
If you are considering a specific flat, or still looking, describe your budget and what the flat is for. It is then far easier to say whether what you are looking at makes sense.