The great popularity of Egyptian resorts is explained not only by their marine beaches unique in their beauty, the rich coral and amazing fish of the Red Sea and the worldly recognized historical attractions, but also thanks to active measures taken in Egypt for the development of the tourism industry in the country.
World recognition as a resort region and Europeans’ trust in this country is confirmed by steadily growing demand for resort real estate in Egypt on the coasts of the Red and Mediterranean Seas. The Egyptian government pursues a policy according to which all the conditions for the development of luxurious complexes for recreation and residence of the premium class will be created in the resort areas. For this, during the construction of new resorts, an infrastructure is created, which is standardly present in premium objects: golf sex, Marina, airfields, hippodrome, etc. D.
In addition, great importance is attached to the development of the existing and construction of a new social infrastructure: airports, roads, power plants, schools, hospitals, etc. D. The successful experience of the already built Luxury resorts led to the fact that more and more investors became interested in the investment of their capital in the resort territories of Egypt. Among them there are even well -known Luxury brands, such as LVMH (Moet Hennessy Louis Vuitton SA), planning to build a total of 100 million on the island of Orascom Hotels and Development on an island in Asuan. dollars.
The most popular are apartments in Hurghada and in Sharm El-Sheikh. The cost of finished objects varies from $ 500 to $ 1,500 per 1 sq. m. Depending on the location and class of the object.
A more attractive way to purchase housing in Egypt is real estate in new buildings. The procedure for buying and registering such real estate in the ownership of the most simple and safe.
To register real estate in the property for foreign citizens in Egypt, only a foreign passport is needed. The whole procedure takes 3-6 months and does not require the constant presence of the new owner. All the necessary actions to register real estate in the property may be performed by a lawyer whose services are $ 800- $
In Egypt, two types of registration by foreign citizens of real estate in the property are considered legal: registration and certification of the parties to the parties to the contract of sale in court.
In the first case, restrictions are imposed on the acquired real estate: it is impossible to sell or rent a purchased object earlier than in five years and the number of objects cannot exceed two total area of 4,000 kV. m.
Due to the strict restrictions on the first method of registration of real estate in Egypt, among foreign investors, the method of certifying the signatures of the contract in court as the simplest and does not impose restrictions on the acquired property is widespread. At the same time, the second method is no less safe, especially in the case of buying an object in a new building from the developer.
Real estate at sea in a developing resort zone has, of course, high investment potential, because the growth of tourism affects the growth of demand not only on hotel complexes, but also for apartment housing for short -term and long -term lease.
This type of tourism is especially gaining great demand among Western tourists who prefer to organize their rest on their own.