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Are properties freehold or leasehold?
In Sharm el sheikh they are usually on a 99 year leasehold and the is renewable so when you sell it you sell it as a 99 year lease. In Hurghada they are usually freehold.
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Is there an annual maintenance charge for complexes with communal facilities?
There are usually annual maintenance fees for example for a 2 bed apartment it is around £350 and this covers, swimming pool maintenance, communal areas, garden maintenance and communal area lighting. |
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Are there local taxes to pay?
The annual council tax will be approx £200. |
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How long is the rental season?
52 weeks a year. |
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What are the likely rental rates?
Around £250 a week for a 2 bedroom apartment.. |
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Are mortgages available?
Mortgages are available but are expensive. |
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What is the purchase proceedure?
90% of Egyptian property is bought and sold on a contract and no further action is required you have a further option to register the contract in law courts and this will cost approx £300 including lawyer fees. |
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Where do the tourists come from?
Uk, Belgium, Italy, Germany and Russia. |
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How popular is Egypt as a holiday destination?
Extremely popular with English tourism in Egypt growing by 52% last year. |
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What is the time difference?
1 hours to 2 hours depending on the time of the year. |
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What is the climate like?
Sunny every day no humidity and around 20 degrees in the winter and 35 - 45 in the summer. |
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How easy is it to get to Egypt?
You can fly from heathrow Gatwick, Manchester, Bristol, Birminham, Luton etc and it will take 4 and a half to 5 hours. |
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Do I need a visa to visit Egypt?
yes it is £10 and if you purchase you can apply for residency and multi entry visa. |
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Are there any restrictions on buying property in Egypt for foreign nationals?
No there are none at all. |
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Can foreign nationals own property in Egypt?
Yes there is no problem with this in Egypt and the Prime Ministers decree last year gave all foreigners the same right to property ownership as the Egyptians with the exception of Sinai where foreigners can only own on a 99 year lease basis. |
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Is there a build guarantee in Egypt?
All property in Egypt is inspected every week and by Egyptian law you have to give a 10 year guarantee. |
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