Investment Property Egypt
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Investment Property Egypt
With the growing economy and middle class in Egypt, the booming tourism sector and the political stability of the country, the predictions for the coming years for Egypt are significantly positive.
As the economy continues to improve, the growing middle class will result in a subsequent rise in demand for primary and secondary residences. Also, as the tourism sector continues to thrive, more and more secondary residences will be needed. With Foreign Direct Investment steadily expanding, there will be an increase in demand for housing to accommodate the labour pool of the companies relocating.
There is currently no Capital Gains tax in Egypt, no Inheritance tax when property is passed on to direct relatives, there is no Stamp Duty tax and also no Wealth tax. There is a Real Estate tax which varies according to location and property registration fee which can be no higher than E£ 2000 (approx £ 175 GBP). There is an applicable sales tax when a property is sold at 2.5% of the sales price.
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