# buying an apartment



## CarloDemarco (Mar 7, 2016)

Am thinking of buying an apartment in Egypt, but am not sure what are the nice areas to buy and what would around 300 to 400 thousand Egyptian pounds would get? Am looking to use it as an investment to rent out so need an apartment with good potential for letting. (buy to let).

Your suggestions appreciated in advance. 

Carlo


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## MaidenScotland (Jun 6, 2009)

Personally and after living here 15 years I would never buy property in Egypt.. the country is unstable, there are no foreigners to rent your property, you will be ripped off, I presume you do not speak or read Arabic.. and selling on your property.. who will buy and if you find someone you cannot take the money out of the country.. 

There must be other countries that are safer and will give you a good return for your money


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## hurghadapat (Mar 26, 2010)

MaidenScotland said:


> Personally and after living here 15 years I would never buy property in Egypt.. the country is unstable, there are no foreigners to rent your property, you will be ripped off, I presume you do not speak or read Arabic.. and selling on your property.. who will buy and if you find someone you cannot take the money out of the country..
> 
> There must be other countries that are safer and will give you a good return for your money


.


Don't buy and certainly not as an investment.......many,many apartments in Sharm and Hurghada standing empty.I have a friend who has recently sold her apartment in Sharm at a 20,000 loss fortunately she sold it just before the Russian plane disaster but she sold it to a Russian who now has no direct way of getting there as Russia has cancelled all flights.
Personally i think it will take years now for Egypts tourist trade to recover.Lots of expats are now leaving to live elsewhere and one of the reasons is for sure because of all the recent carry on over extending tourists visas and the inconsistency of it all.


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## Basheer (Oct 2, 2009)

An apartment in that range would rent out for about 1500-1800 EGP a month if I am not mistaken. That is about $150 a month (the exchange rate for US dollars is about 10.4 last time I checked at local exchanges).

So I do not think the income you would generate is worth the hassle of buying then looking to sell when you leave Egypt, or if you had to leave due to instability, etc.

Also, beware of scams. Certain locals would never think of scamming anyone and if an Egyptian came to buy his apartment, it would be a smooth transaction. But if a foreigner comes to buy that same apartment, he would try to scam him out of the entire sum. This happened to a foreign family here recently, so just be careful.


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## bishoybahaa (May 30, 2016)

the best area in the range of 300 to 400 thousand EGP now is " El Zaytoun " , You can rent it at 1500 to 2000 EGP per month.
But i don`t recommend Buying an apartment in Egypt .


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