Egypt Mortgage Rates, Developer Plans and Finance for Foreign Buyers

Foreigners in Egypt may generally own up to two residential properties for personal use, subject to a cap on total area, and some zones, including parts of Sinai, add restrictions. Ownership is separate from financing. Check the current rules with a lawyer, and read our Egypt consultation guide and the Egypt property page.

Egyptian banks lend mainly to residents with local income. Loans are in Egyptian pounds, and interest rates have been high because of inflation and monetary policy. The pound has weakened in recent years, which makes foreign currency attractive to sellers and has increased the appeal of dollar or euro payments. Some banks have schemes for expatriates earning abroad, but they are limited and conditions change.

Because rates and the exchange rate can move quickly, verify the position on the day you sign. Use the mortgage calculator only as a rough guide.

A developer sells a unit for a down payment and a schedule of instalments that may run for several years, often with no stated interest. The cost of finance is built into the price, so compare the cash price with the sum of the instalments. Read the penalties for late payment, the handover date, the compensation if the project is delayed and the terms on resale during the instalment period. Check the developer's track record by visiting delivered projects and talking to owners.

An Egyptian developer contract deserves a slow read with a lawyer. Check the unit's exact description, the floor area including how it is measured, the specification of finishes and the delivery date. Look for clauses allowing the developer to change the plans, extend delivery by a grace period or keep a share of your payments if you cancel. Ask what maintenance deposit and annual service charges apply, and whether a club or resort membership is included or charged on top.

Finally, check what happens to your payments if the developer faces difficulties. Reputable projects hold buyer funds against a licensed land title and have approvals from the relevant authority. Request copies, not promises. Buyers who skip these checks sometimes discover too late that the land was not fully owned by the developer.

A preliminary contract does not by itself give registered ownership. Registration at the real estate registry (shahr aqari) provides the strongest evidence, but it can be slow, and costs and procedures vary. Ask your lawyer when registration is possible in your project and what happens if the developer has not yet obtained final title to the land.

Registration fees, developer charges and agent commission all add to the price.

Because the pound has moved sharply, the currency in which you pay shapes your real cost. Some developers quote prices in dollars or euros and accept foreign currency transfers, giving buyers certainty. Others quote in pounds and adjust prices for inflation. Make sure the contract states the currency, the exchange rate used at each instalment and what happens if the rate moves.

Keep bank transfer receipts and proof that funds came in through the banking system. They support registration and, later, the repatriation of sale proceeds. Ask your lawyer about the central bank's rules on moving funds out of Egypt, since these have changed in recent years. If you hold your instalments in a foreign account until each is due, you retain flexibility while the schedule runs.

Buyers mainly look at the Red Sea resorts, the North Coast and new cities near Cairo. The North Coast and Red Sea compounds are heavily developer-led, while established Cairo and Alexandria neighbourhoods have more resale activity. Browse apartments, villas and studios in Egypt, and see the Egypt market data.

If you prefer to borrow, equity release at home may be cheaper than anything available locally. Send questions through our contact page.