The current hotspot for overseas investors is without a doubt Egypt.Low prices means many investors are not having to approach cash starved banks who have made lending harder. Seasoned investors can put a deposit down using a credit card and pay small monthly payments on many off plan or pre construction properties
So lets learn more about Egypt. Officially the Arab Republic of Egypt situated in North Africa it includes the Sinai Peninsula, Egypt borders Libya to the west, Sudan to the south, and Israel and the Gaza Strip to the northeast; on the north and the east are the Mediterranean Sea and the Red Sea, respectively. Egypt increasing tourism and desire to attract overseas property investors combined with low prices makes it a very attractive place to buy property
Egypt Property Hotspots
Tipped for the Top Sahl Hasheesh Egypt.
A stunning s mega resort in the shape of Sahl Hasheesh,with 20 five star minimum hotels and eight golf courses.Sahl Hasheesh is just 20 kilometers south of the Hurghada Airport and located along a 12 kilometer-long bay of the Red Sea. The climate here is nearly perfect year round, with averages in the winter around 14ºC and in the summer approaching 30ºC. There will be an Old Town with bars, shops and restaurants at the heart of the new development, as well as medical facilities, water sports and a sunken city for divers and snorkeling.
The first golf courses are scheduled to open in 2008, with the Old Town opening its first shops and clubs in mid year as well. Several hotels are already open, including the Pyramisa, The Oberoi and Palm Beach Piazza.
Hurghada Egypt.
Considered by many as the leading bathing resort of Egypt this area has attracted international investors.
Red Sea Egypt.
The Red Sea Riviera is a great place to dive with a stunning coastline and low prices for off plan property and new homes buyers can find cheap property in Egypt
Luxor Egypt.
Luxor is an attractive place for tourists and includes the Valley of the Kings and Karnak.Luxor is a city of some 150,000 people and is governed by special statues that allow it more autonomy
Investment property in Egypt.
Overseas investors know that profits are made on the purchase price and with low entry prices Egypt is set for good capital growth. Buying off plan property in Egypt allows investors to pay with staged payments. This means for the price of a second hand car investors can enter a market that has so much potential. The government is continuing to commit to legislative initiatives designed to enhance the investment climate demand for quality property for sale and short term let is increasing.
Buying property in Egypt is a very attractive proposition; it offers a whole host of advantages including:
Lots of sunshine
Inexpensive flights
Low cost of living
A unique atmosphere
Low property prices
Diving destination of the world
Increasing tourism
Government favourable to overseas buyers
Sound investment potential
Property In San Antonio
Whenever you buy or sell , there are costs to be considered. Not just the selling price which you will either pay or receive, but also taxes and other fees which you have to take into account.
In Israel the purchase tax is paid buy the purchaser in the transaction. It is between 3.5% and 5% of the property price, depending on its value. Israeli residents pay 0.5% less if that is the only real estate property they own.
If there is a couple where one already owns a piece of property, one partner will have to pay the higher purchase tax rate. If a property transaction takes place between family members, then the purchase tax is assessed at only one third the standard rate.
There is also a sales tax to be paid - this is paid by the seller. This is either 2.5% of the sale price or .08% for the sale of residential properties by contractors. However, the sales tax is often waived if the seller is an individual rather than a company.
Commissions paid to real estate agents are paid by both buyer and seller. However, a good real estate agent can save you more money than you will have to pay to them, thanks to their extensive experience and knowledge. Typically, the commission paid to the broker is 2% of the inclusive price of the property at the time of sale. When leasing a property for a term of one year or longer, there will be a VAT of one month's rent along with the commission (17%). The commission is payable upon signing the contract to purchase or lease real estate in israel.
A real estate lawyer will charge a fee of 1.5% (plus the VAT) when buying a property from a contractor. This fee is to pay the fees of the contractor's lawyer. When buying a property not at first hand, the lawyer will charge between .5% and 1% plus VAT.
You'll also need to pay a fee of $400-$500 USD plus VAT if you bring in a property inspection engineer to have a look at the property before you buy; this is especially advisable when purchasing a used property. This fee may be more or less depending on the size of the property you are thinking of buying.
Payments for property purchases in Israel are generally made in Israeli Shekels (NIS). When converting from other currencies to Shekels, banks typically charge a fee of somewhere between .01% and .05% of the amount being converted to Shekels.
Both Nicholas Marr & Zgtop Gurmn are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Nicholas Marr has sinced written about articles on various topics from Real Estate, Property Investment and Home. Nicholas Marr is CEO of overseas property portal at his knowledge has been gained com. Nicholas Marr's top article generates over 74000 views. to your Favourites.
Zgtop Gurmn has sinced written about articles on various topics from Finances. About the author: zgtop gurmn is the owner of Israel Guide website. See more of his stuff enter here: and for Exclusive. Zgtop Gurmn's top article generates over 3600 views. to your Favourites.
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