Property in Egypt

For years, Egypt has been attracting not only Russian tourists but also property buyers. The unquestionable advantages of this country include a year-round beach season and clean sea, well-developed tourist infrastructure, and, of course, affordable prices for new homes and housing on the secondary market. In addition, under certain conditions, housing purchase grants the buyer a residence permit. Foreigners may freely buy Egyptian property without any restrictions. The so-called “Pearl of the Red Sea”, Hurghada (144) is not only the most developed Egyptian resort, but also a popular real estate market, with a wide variety of properties offered by developers. Apartments in Sharm el-Sheikh (7), especially in elite complexes, are also demanded by Russians. The most daring investors pay attention to the country's capital, Cairo, where an apartment or a house may be purchased directly from the owner.