I have looked at a few websites advertising apartments in Sharm.
Would you recommend buying a one bed apartment there ? I have heard conflicting views and can not make my mind up.
I am thinking of buying and renting it out through a local agency to an Egyptian local (rather than have to constantly find tourists to rent to)
I am aware of some of the pitfalls such as always checking that the developer had permission to build on the land, checking that the owner actualy owns the apartment, having a overseas property lawyer inspect the contract and advise on the sales process but are there any other things that I need to look into?
I have heard that there is some kind of property tax around £50 a year. Is that correct ?
Are there any other taxes to pay on buying an apartment ?
Would the apartment need registering with an Egyptian authority ?
Thanks for your advice.
Please remember irrespective of any advice that you receive on here from members it is vital that you seek and get professional advice so as to protect yourself and any payment that you make.
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