• Can foreign nationals own property in - Egypt?
  Yes they can own property in Egypt and all coastal resorts along the mainland Red Sea and the Sinai Peninsular.
• Are there any restrictions on buying property in - Egypt for foreign nationals?
  No, there are no restrictions on buying property in Egypt or Sinai for foreign nationals.
• Do I need a visa to visit Egypt?
  Yes you do need a visa, either from the UK Embassy, but easily obtained on airport entry.
• How easy is it to get to - Egypt?
  It is easy as there are several direct flights from major airports in England to Cairo, Hurghada and Marsa Alam International Airports.
• How long are the flights from the UK to Hurghada - Egypt?
  It is a 5 hour flight more or less depending from which point you are flying from in England.
• What is the time difference?
  Egypt is 2 hours ahead of UK time.
• What is the climate like?
  In winter is around 15 degrees as the lowest, but the normal is 28 degrees. The summer temperatures range between 25 degrees at the lowest, the highest can be 40 degrees.
• How popular is - Egypt as a holiday destination?
  Egypt became popular over the last 30 years and coastal resorts for the last 20 years, Hurghada being the first, followed by the now famous Sharm el Sheikh resort.
• Where do the tourists come from?
  The tourists are coming from several destinations in England, Germany, USA, Russia, Austria, Switzerland, Italy, Spain, Scandinavia and of course Egypt.
• Are there any tax incentives associated with the purchase of Egyptian property?
  Yes. More so if new residents wish to create business opportunities or offer skills.
• Do the developers have the support of the Government?
  Entirely. Egypt has very good support from the Government as tourism became the most important industry after independence from United Kingdom.
• Has the land been purchased and a full title been passed to the development company?
  Yes. In order to commence building work.
• Is the property freehold or leasehold?
  Property in Egypt (mainland) is generally Freehold. Sinai is leasehold unless laws change.
• What is the completion date for property?
  Unless bought as complete or a re-sale, Egyptian property has completion dates set by each developer. Most are completed in the first year of sale. Other resorts may take longer to occupy because full resort facilities and amenities may have to be completed simultaneously for use by residents and holiday-makers alike.
• What is the purchase procedure?
  Each developer will have there own set procedure of payments for new-build. After an initial administration deposit to start the purchase contract, monies are generally paid as "stage payments." 20% to 50% of the unit price may be asked on the signing the purchase contract usually around 30 days after deposit. An arranged % of the unit price is to be paid according to each individual contract and time-scale after signing the purchase contract. With the final payment and after signing of the final contract, clients will receive the keys for their property. Full Deeds of Entitlement will be released in accordance with the Authority of the location of each property.
• How much are the legal fees?
  About £200 sterling for each property registration fee. Egypt Conveyancing fees are around £350 sterling. It is advisable for you to have your own lawyer cover all legal and contractual details throughout the purchase, to liaise with your own (or ours) in Egypt.
• Will I be offered a mortgage?
  In Egypt not many banks are open for mortgages. However private mortgages can be arranged by reputable companies or from your own country of origin.
• What are the registration costs?
  The buyer will pay the government a "one off" registration fee of around £200 sterling, regardless of value, according to the 2006 property laws.
• Are there any management costs?
  Maintenance fees of between £350 to £700 sterling depending on the size of the apartment is usual if property is part of a resort complex, with access to resort facilities. Some luxury villas may require a one off "lifetime" fee which is fixed by the developer.
• Is there a build guarantee?
  There are build guarantees. Make sure they are written into contracts.
• What are the likely rental rates?
  A one bedroom studio apartment will easily rent out at £240 sterling per month for the long term stay. One bedroom prices are around £80 sterling per week. Duplex apartments, Villas and luxury Villas can be charged accordingly and depend on location, beach access and number of bedrooms.
• Is this rental net of management charges?
  This rental is before management charges.
• How long is the rental season?
  All year round. Most owners let property for 75% - 85% of the year, regaining mortgage and maintenance or costs.
• Who is guaranteeing the rental?
  If the buyer makes a contract with us at our Legal & Management offices we can guarantee some locations a rental value of 5% from the unit price and for the contract duration in 5 years. Some superior 3/5 bedroom properties can offer serious rental income if placed in experienced hands.
• Are the properties sold fully furnished, if not how much are furniture packages?
  The property can be sold as fully furnished. Generally, new build are not. Clients have differing tastes in furniture and colour schemes. However, Coralife-Style can create various packages to suit all personal requirements.
• Can I have personal use of my property?
  Total use. If a management and letting agreement is arranged, buyers can stay in his property depending on the occupancy. Each personal booking requires notice in advance.
• Will parking be provided for each property?
  Resort complexes and Private Clubs have secure parking facilities. Parking areas are generally available to private villas, some having multiple garage space.
• What currency is used for the property purchase and rental payments?
  Most purchases are Sterling or Euro. Rental is mostly in Euro, Sterling or USD.

European Head Office Alan Cockayne CEO - Europe Tel: +44 (0) 114 288 9274
© Coralife-Style Ltd 2006