Buying a property in Hurghada is an easy process. There is a fantastic choice of off-plan properties available through Network Properties. We hope our Hurghada buyers guide will help you understand the in's and out's of buying property in Hurghada/

Our lawyers have performed all necessary due diligence on these developments which all come with a 100% Bank guarantee. All properties are sold freehold.

Here’s how it works step by step:

1. Book your viewing trip with Network Properties (usually a 3 day trip, including travel)
2. View the available developments and choose the ideal property or properties for your needs. We will offer you friendly, helpful advice to guide you through this choice
3. Reserve your property with a 10% deposit (this may vary slightly from one development to another)
4. Within approximately 2 weeks you will receive a purchase contract, outlining the agreed payment structure and property details
5. There are usually a series of stage payments throughout the build process

When your property is complete, we will assist you to set up the necessary documents to obtain your title deeds

Buyers Guide Payment Plan:

Tax Information

Rental Income Tax
As with Capital Gains Tax this operates on a threshold basis, depending on the profit made annually, as follows:

• £500 or less: 0%
• £500 - £2000: 10%
• £2000 - £4000: 15%
• £4000 and above: 20%

Inheritance Tax (IHT)
There is no inheritance tax in Egypt

VAT
All our properties include Egyptian VAT

Closing Costs / Completion Costs
Most costs at closing operate on a per square metre basis

Notary Fees: £50 [Under 100m²] up to £200 [Over 300m²]
Lawyers Association Charge: 0.5% of property price
Paperwork and misc. extras: £70
Legal Fees: £769 (Approx.)
We therefore recommend that you budget around £1000 total for an average 2 bedroom apartment

Ongoing Taxes/Charges
Real Estate Tax – Calculated on estimated rental value, currently calculated from the countrywide average.
Expect to pay around £40 per annum

Community Fees / Maintenance Charges
These costs are usually decided by the community of owners based on the budget allocated to maintenance of the development. As a general rule of thumb, expect to pay around £7/m² in Hurghada

Electricity
The average electricity bill is £10 (small apartment) - £150 (Large Villa) per month.

Water
Average water bills are reported to be around £5 per month

Telephone/Internet
An average pay-as-you go phone, used locally should cost around £20/month in call charges
To install internet, you must also install a land line £6/month. The internet charge is around £9/month

Repatriation of Funds
There are no restrictions on transferring your money out of Egypt.

Freehold/Leasehold
All of our properties are freehold unless clearly stated otherwise

Residency/Purchaser Requirements
In order to complete on your property, you will need to register with the local authorities. This is a quick, simple process for EU/U.S. citizens which we will assist you with, or set up on your behalf via Power of Attorney

Bank Account in Egypt
This is not required for your property purchase. If you wish to have a bank account in Egypt this can be easily set up in around 15 minutes

Work Permit / Employment
If you are under a contract to work with a company, you will be legally allowed to work for the duration of your contract. In order to obtain permanent position to work and/or to run your own business, you will need to register an Egyptian limited company. This will cost around £600, including share capital and setup costs.

Medical Insurance / Health Insurance
One time private treatment in Egypt is not expensive. However, you can also obtain permanent private health insurance for around £300 per year.

Education
There are a selection of English speaking education alternatives in Hurghada. The American school charges around £1,500 per child, per year.

Visas
Tourist Visas to Egypt are automatically granted for 30 days at a time.
It is a simple process to extend this to 9 months by submitting copies of your passport and a small fee of £7. Therein it is necessary to renew this every 9 months.

Property Ownership Rules for Foreigners
Foreigners are permitted to own up to 2 properties in Egypt, with total surface area of less than 4,000m² There is no limited on how many off-plan properties a foreigner can own, as long as they are “flipped” prior to completion. To own more than 2 completed properties it is necessary to register an Egyptian company, which is a simple process.

We look forward to showing you the area in person – it will be an exciting experience which we are confident you will enjoy.
In the interim, please use our call back facility to request personalised information from our investment advisor.