Advise Needed

[lyndsay552]

Now i'm completely confused!!

Can anyone shed some more light on this business of registering the property and the limit of 2 as this may be a complete show stopper!!

Thanks

 

[awahee123]

Hi lyndsay,
I'm sure you cannot own more than so many square meters as an individual,anybody know the exact rules?

 

[dave99]

Get LOCAL leagl advice

Now i'm completely confused!!

Can anyone shed some more light on this business of registering the property and the limit of 2 as this may be a complete show stopper!!

Thanks

There are ways around this issue but be sure you do it with full knowledge - do not accept the local attitude of not registering - it will work for a while - but the local council will soon catch on to non-Egyptians not registering since they will not be collecting fees. There is also the possibility that you could find it much harder to sell later.

Also the process of registering is the BEST way to find out if there are any problems with your right of ownership, exactly as in the UK.

You can avoid lots of potential problem by doing your own Due Diligence up front, and do NOT rely on anything an agent might tell about this unless you get copies of all the documents yourself.

Search the forum for the thread by the lawyer on Registration.


..

 

[Peter Mitry]

If you formally register your property at the Notary there is a limit to the
number of properties that you can own (currently two); also you are
prohibited from selling them for five years. For this reason many investors
do not register their properties. I am checking the legality of this with my
lawyer and will get back to you later when we have discussed it.

 

[lyndsay552]

Would it be possible to register 2 properties each?

 

[Peter Mitry]

Of course, if you are registering in different names I cannot see a problem with that.

 

[dave99]

Already on the forum - please use the search function

Hi lyndsay,
I'm sure you cannot own more than so many square meters as an individual,anybody know the exact rules?

All this stuff is already on the forum - please use the search function

The max is 4000 sqm for personal & family use.

Using two different names should be OK as long as the contracts for the purchase match with the registration.

There are also legal ways around the 5 years rule but beware local "workarounds" that may not work.

..

 

[Peter Mitry]

I have just spoken to my lawyer, Hamdy el Sawy who is based in London. There are two ways to register your property and if you register just with the court in Hurghada there is no limit to how many units you can own and no restiction on re selling. His email address is: [email protected]. This is what the Egyptians do.

 

[zayneb]

Two pieces of advice for what it's worth.
1) You really should try living in Hurghada before you buy. It is such a completely different way of life and I do know English people who have tried it and regretted it. Not to say there aren't many benefits however. Egypt is a lovely country - still very safe compared to London. You also can never really know which are the best areas for you until you've lived in a place.
2) Egypt is VERY relaxed about things like registration. We had a flat for 20 years in Alexandria but never registered it and sold it with no problems 3 years ago. The real benefit of registration is if you are buying a property off an individual and need to make sure you are not being stitched up, then you go and register it straight away to ensure it's in your name and they not (for example) selling it to other people too!! However, if buying off developers its not really necessary. A lot of people don't bother. Registering land is more important. We have land too but would not consider selling it until its properly registered. But you know, with Egypt, everything is so relaxed and slightly chaotic and there's usually a way around any problem!!

We've been visiting Hurghada for years and personally could not live in Hurghada itself but would choose Sahl Hasheesh. Just because it's more upmarket and also peaceful and more beautiful. However, if you have children, you'll probably want Hurghada (or El Gouna) for the schools. Have you considered El Gouna for your home as there is a thriving English community there although it's expensive.
For rental I'd choose - a flat in Hurghada for versatility (you then have the permanent rental market + cheap holiday lets) and a flat in Sahl Hasheesh for the more upmarket holiday let where you can charge more. There are still some reasonably cheap flats available I believe in Palm Beach and Andalous. However, that combination might go over £100,000 in which case I'd stick with the Sahl Hasheesh flat and own residence.

NEVER NEVER buy anything from the U.K. - GO AND SEE IT FIRSt!! It is great that there will be so many English people owning in Hurghada and surrounding areas.
Good luck. p.s. Sorry if I have repeated other people's advice - hope it's still useful.

 

[Mark .Y.]

Two pieces of advice for what it's worth.
1) You really should try living in Hurghada before you buy. It is such a completely different way of life and I do know English people who have tried it and regretted it. Not to say there aren't many benefits however. Egypt is a lovely country - still very safe compared to London. You also can never really know which are the best areas for you until you've lived in a place.
2) Egypt is VERY relaxed about things like registration. We had a flat for 20 years in Alexandria but never registered it and sold it with no problems 3 years ago. The real benefit of registration is if you are buying a property off an individual and need to make sure you are not being stitched up, then you go and register it straight away to ensure it's in your name and they not (for example) selling it to other people too!! However, if buying off developers its not really necessary. A lot of people don't bother. Registering land is more important. We have land too but would not consider selling it until its properly registered. But you know, with Egypt, everything is so relaxed and slightly chaotic and there's usually a way around any problem!!

We've been visiting Hurghada for years and personally could not live in Hurghada itself but would choose Sahl Hasheesh. Just because it's more upmarket and also peaceful and more beautiful. However, if you have children, you'll probably want Hurghada (or El Gouna) for the schools. Have you considered El Gouna for your home as there is a thriving English community there although it's expensive.
For rental I'd choose - a flat in Hurghada for versatility (you then have the permanent rental market + cheap holiday lets) and a flat in Sahl Hasheesh for the more upmarket holiday let where you can charge more. There are still some reasonably cheap flats available I believe in Palm Beach and Andalous. However, that combination might go over £100,000 in which case I'd stick with the Sahl Hasheesh flat and own residence.

NEVER NEVER buy anything from the U.K. - GO AND SEE IT FIRSt!! It is great that there will be so many English people owning in Hurghada and surrounding areas.
Good luck. p.s. Sorry if I have repeated other people's advice - hope it's still useful.

And that really is some top advice that you should listen to...........

Mark .Y.

 

[awahee123]

Hi Lyndsay552,

I think as you have seen on this thread it is recommended for you to go and have a good look around before you commit to anything,whilst you are sampling Egyptian life Have a look at the different developments on offer and also get a feel for Egyptian culture. I'm sure if you ask redseafurniture who is a member on the Egypt forum he will provide you with some first hand information as he lives in Hurghada.
Please remember whilst a lot of people enjoy Egypt there are some who would not visit the country twice, so do not make a blind commitment.

 

[cathegypt]

hi,
nice idea, you can find few flat in new district for 150 000 le average.
14 000gbp, and you furnished it , and it will be easy to rent to the foreigners live here or has rental vacation
bye

 

[Peter Mitry]

Where do you live Cathegypt? Are you in Hurghada?

 

[cathegypt]

i live in hurghada from 5 year in el dahar

 

[Peter Mitry]

I am looking for somewhere to rent in Sakala, Hadaba area, long term. What should I expect to pay for a decent 2 bed apartment in a quiet street?

 

[cathegypt]

average 1200 til 1500 le for 2 bed rooms flat, don t hesite to negociate , the price are never fix

 

[lyndsay552]

average 1200 til 1500 le for 2 bed rooms flat, don t hesite to negociate , the price are never fix

Is that per week or per month?

 

[cathegypt]

by month.. long term

 

[Mauro]

hello every body

 

[Peter Mitry]

Hi Cathegypt

Those are the sort of prices I was expecting to pay. Do you know anyone with a nice flat to rent? If it is in a complex with a swimming pool so much the better. You can contact me on Skype: peter.mitry or by email: [email protected]