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If you have a home in Egypt and are looking for tips to sell property in Egypt fast, you’ve come to the right place. As you know, Egypt has a fast growing population and requires half a million homes to be sold every year.
However, since the Arab Spring and the subsequent revolution in Egypt, things haven’t really been all too easy for those who have properties to sell in the country. Property prices in Egypt declined greatly in this period and Egypt’s status as a major overseas property destination suffered as well.
Since then, the election of Abdel Fattah el-Sisi as the President of Egypt has helped to stabilise things considerably. The economy has largely recovered and the property market has normalized. But there are serious problems, such as the growing threat from the ISIS.
The attack on the Russian jet at Sharm el-Sheikh in 2015 which killed 221 was a serious setback to the property market in Egypt as well as to the prospects of peace in the region. Still, in spite of the ISIS threat, there is a growing realisation among overseas investors that Egypt is open for business.
The new Egyptian government has introduced a new regulation called the Law 17/2015, which gets rid of all restrictions on foreign ownership of property in the country. The government has simplified things to a great extent for overseas property hunters, which is excellent news indeed.
There is a big demand for Egyptian properties among Chinese and Russian investors. For all its faults, Egypt is a beautiful country which has much to offer. Sunny Mediterranean climate, lovely beach resorts, river cruises along the Nile, there is so much in Egypt to look forward to.
The demand for real estate in Egypt is also driven by the depreciation of the Egyptian currency, which has made properties in Egypt very affordable for overseas buyers. Also, the foreign currency restrictions have been largely removed by the Egyptian government, which has added to the positive sentiment.
So what can you look forward to when looking to sell your overseas property in Egypt? One, you will have to be aware of the laws related to buying and selling of property in Egypt. There are some laws that are very confusing, especially when you are a foreign national and a non-resident of the country and want to sell the property to another foreign national.
So hire a good lawyer or solicitor to help you out with the process. Any lawyer hired by you should have a good reputation in the expat community in Egypt and should be bilingual. He or she should be comfortable about talking to you in English and should specialise in real estate transactions in Egypt in which at least one of the parties is a foreign national.
It is very important that your paperwork should be in perfect order. A single mistake can lay to waste all the efforts made by you so far to sell the property. Your lawyer will help you with this.
Finally, you must hire an experienced estate agent specialising in overseas property to help you market it to cash rich individuals in Russia, China and the Middle East, who might be interested in buying a house in Egypt.
Hiring the right expert estate agent like Euro Resales LTD can make all the difference in the overseas property market. There are so many things that the estate agent does that you cannot do yourself, such as promoting the property in international property shows held in Beijing, Moscow, Dubai and Hong Kong, marketing the property in Chinese and Russian property portals, online forums and the social media. So trust the experts to sell your overseas property in Egypt.
Contact us today to sell your property in Egypt fast. UK & Irish Estate Agents Selling Egyptian Property.