What are the hidden costs when buying property in Egypt?
Beyond the property price, buyers should budget for several additional costs. Being prepared for these expenses ensures a smooth purchase with no surprises. Registration and Legal Fees: Property registration 3-5% of property value. Lawyer fees 500-1,500 EUR for full legal due diligence. Power of attorney 100-300 EUR. Contract notarization 50-200 EUR. Taxes: Property tax annual is very low in Egypt, typically 50-200 EUR per year for apartments. Capital gains tax on resale is 2.5% of sale price. There is no annual wealth tax on property ownership. Ongoing Costs: Service and maintenance charges 30-150 EUR per month depending on resort amenities. Utility connections 200-500 EUR one-time setup. Furniture package if unfurnished 2,000-8,000 EUR. Developer-Specific Costs: Some resorts charge annual club membership fees of 200-500 EUR per year. Developers may add 5-15% to the total price if paying in installments. Check your contract for late payment penalty clauses. Budget 5-10% above the property price for all additional costs. Contact MAMO Property at +20 11 52980998 for a detailed cost breakdown.
