The Clap
Prime Minister Moustafa Madbouly held a meeting to discuss developments on “exporting real estate”.
You should know
By exporting real estate we refer to its sale to foreigners in exchange for foreign currency, which can take many forms. For more info on the subject click here.
What
The real estate sector wants to benefit from the high USD/EGP exchange rate, by marketing real estate sales in foreign markets.
So what
The purchasing power of non-Egyptian residents has increased significantly due to the EGP’s devaluation, according to industry insiders, giving Egypt a competitive advantage over other countries.
Now what
There are some obstacles when foreigners come to buy property in Egypt, the most important of which is the property registration process, which foreigners consider a hassle.
