Relocating in Sharm El Sheikh part 2

So we were talking about whether it would be better to rent or buy a property if you wanted to relocate in Sharm El Sheikh. Obviously the answer lies primarily in your financial availability and the reason why you are moving out of your country of origin but above all whether you plan to stay for a long time or for a short period. If you are thinking of moving but you are not sure you want to stay, renting will certainly be the best solution: renting a house is simple but at the same time requires some technical knowledge. First of all, long-term rentals in case of foreigners are normally signed for a maximum duration of 1 year renewable, the contract can be in Arabic or in Arabic and English, a minimum of one month's deposit will be required and generally the consumption of water, electricity, gas if present and internet are separate. If the house is located in a residence generally the annual condominium will be paid by the owner, obviously make sure you are dealing with the owner or his direct representative such as a real estate agency.

Three-room apartments, i.e. apartments with 2 rooms, normally have a minimum surface area of ​​75 m2 up to 14-150 m2, after which we move on to four-room apartments and the next step will be town houses, duplexes and villas.

Condominium fees are generally paid annually but in some projects we find the “una tantum” system, i.e. the payment of the condominium only once and forever, with small annual adjustments.

As regards the terms of payment of the property itself, if under construction, payment in installments is normally contemplated for at least 2 or 3 years, until delivery which in some cases can occur earlier. If the property is ready for delivery, generally a lump sum payment is required or 50% immediately and the remaining 50% to be paid within a few months. It all depends on the agreements made between buyer and seller.

To be continued...

If you think that your stay in Sharm El Sheikh will be long-lasting, it is much better to save yourself rent and buy a house. To buy, you will only need your passport and cash. The choice of house will depend on its proximity to the center or the sea, in short, on everything that you consider most important in choosing your new home. If you want to be close to services and shops, currently the best served and crowded areas are Naama Bay and Hadaba, the latter has residential areas very close to the sea. If, on the other hand, you want a life closer to nature and the sea, Montazah will certainly be the best choice. Next comes Nabq, the newest area, with its shops where the houses are still close to the sea. The size of the property will depend on the budget available and the number of family members, generally studio apartments start from an average size of 30 m2 up to a maximum of 60 m2, two-room apartments from a minimum of 50 m2 up to a maximum of 80 m2 although you can also find two-room apartments of 90-100 m2.