Is it a good idea of buying a property in Egypt Sharm el sheikh?

Jack886 wrote:

Yes you can, and I guess its the same as if you are Egyptian, I mean there is not much difference. Actually there is a LOT of foreigners have properties in Sharm, most of them have it as an investment, I used to work there for a while, if you are interested in further information or more details let me know I'll make some calls to know all the details ...

Thank you very much！　I was quite surprised that somebody answered that no foreigners can own property in Sharm. So thank you for the clarification.

jhgreen wrote:

Yes you can buy.  If you note above (in the flat for sale in Sharm),  I am a foreigner selling my flat in Sharm.  As a foreigner you would have to buy leasehold and not freehold.   If you are interested in my flat, please contact me.

Hello, Jhgreen,
Thank you for answering, what's the difference between leasehold and freehold? what should i do? and how much is it?

Thank you so much for your help in advance.

jhgreen wrote:

Hello Yaqianq  When I bough during the Mubarak ear, there was a 99-year limit on freehold property rights. Essentially, this means that when a foreigner “purchases” a property in South Sinai, he is in fact purchasing a 99-year lease. However during the Morisi era this was reduced to 39 years.  When El Sisi became President, this was going to be reviewed but no official changes have been announced.  I do find that some of the  property developers seem to be issuing contracts with whatever time frame they feel comfortable with but generally leases are as long as 39 years at a minimum.

I see, I thought it's still 99 years leash. So was it this gonna show in the contract or I have to bring the contract to the government to get it certified?  Thank you very much.

Are you currently living in Sharm? How is it there after the plane tragedy.

jhgreen wrote:

Your lawyer can get the contract certified for you.  Or you can do it yourself if you have the time to run around to all the places for stamps and such.    Also the leases can be renewed so it should not be a problem to do this if you are still here after 39 years.  You can also do a next of kin addendum  so your family can inherit the lease. 

Sharm is quiet but the Easter holiday will start soon so the place will be full of Coptics having their holiday.  Lots of people will be here then.

Thank you so much Jhgreen, you've been very helpful. When is the easter holiday there? I will travel to Sharm at Mid April. Maybe we can meet up and have a cup of coffee.