Egypt is the oldest country in the World with the documented history of almost 5000 years. As of April 2009 its population is 83 million people, the biggest among Arab countries and the third in Africa. Egypt is located in the northeast part of the African continent, around the Nile River banks, bordered by the Mediterranean Sea to the north and the Red Sea to the east, its neighbours being Libya, Sudan, Israel and Gaza Strip.

Egypt's capital is Cairo - one of the world's biggest cities with a population of 16 million is a lively metropolis, merging the richness of the oldest civilization with the modern development and culture. Around Cairo's remainings of the only existing of the Seven Wonders of the Ancient World can be found - the Great Pyramid of Giza. This area is well known for its biggest inhabitant as well - The Sphinx, biggest monolith sculpture in the World, believed to be sitting there since the third millennium B.C.

Except for pyramids, Sphinx and mirages - Egypt is known for three main things – the Sun, the Sun and the Sun. The country's average of 363 non-raining days a year make it a perfect tourist destination, ideal for the active relax /diving, strolling the dessert/ as well as history dwellers /Alexandria, Cairo, Luxor, El Alamein/ or simply a lazy and refreshing time at any of the Red Sea's coast resorts.

The fact the tourist industry is one of the country's main income sources gives it a high priority and a lot of attention from the government. As a result the infrastructure is improving and the property market developing. Investing in property in Egypt is a solid source of the guaranteed rental income as well as the property value appreciation. Buying an apartment in Egypt will bring 6-8% in the annual rental profit and stable 15% annual value growth /20-30% p.a. before the market slowdown of the late 2008/.

Egypt is in fact "The Arab Republic of Egypt", with Egyptian as the official language. English is widely used in Cairo and tourist resorts.

Egypt's official currency is Egyptian Pound (EGP). Nevertheless, the usage of US dollar, euro or the British Pound is widespread and these can be exchange in every hotel and many of exchange offices. The property prices in Egypt are often denominated in any of these currencies, especially in GBP.

Egypt's economy depends mainly on agriculture, media, petroleum exports, and tourism. The later one is especially important from the real estate investor's point of view. With the constant inflow of tourists, property prices notice stable growth and strong demand on both primary and secondary markets.

While entering Egypt, the passport should be valid for at least another 6 months.

The most popular Egyptian resorts:

Sharm El Sheikh
Called "The Pearl of Egypt", located at the very South end of the Synai Peninsula, relatively new resort is tourists' favorite spot. One of the main reasons for are the fantastic coral reefs, so much loved by the scuba divers. The Underwater Nature Park attracts millions of tourist every year and so does the vivid nightlife of entertainment center Naama Bay. Sharm El Sheikh has its limitations for the property investors, though. The property is sold only with a leasehold title.

Hurghada
Located 600 km south of Cairo, Hurghada is one of Egypt's and the world's most popular tourist destination for the last 20 years. It underwater life makes it one of the best scuba diving attractions in the world. The nearby resort of Sahl Hasheesh, with its luxurious villas, perfectly designed golf fields, attractive apartments, private airport, the underwater town and the best 5 stars hotels became one of the luxury top spots in the world. The full ownership with the freehold title makes it a great investment opportunity, worth still a very reasonable price per square meter.

As mentioned above, the property prices are often denominated in British Pound.

Foreigners can buy property in Egypt, under Law No 230 of 1996. Up to two units of real-estate can be acquired, up to 4000 sq.m in the built size. The purpose must be for a family member to live in the property. The purchase must have the approval of the Council of Ministers, which takes around two months and is, in fact, a formality.

Registering property in Egypt
If registered, the property cannot be sold or rented for five years. The purchase sum must be brought into Egypt in foreign exchange, through one of the public commercial banks (though this provision of the law is not enforced). Finally, the property must be rented furnished after the 5 years period, which has tax disadvantages.

Recently Egypt capped the total payable under the 3% registration fee rule at EGP 2,000 (about $350), regardless of the purchase price of the property. So registration is now less expensive than it used to be. But the process still takes a long time. The buyer can, nevertheless, use his property as soon as the purchase contract has been signed and before the registration process is completed.

Nile river is longer than many rivers in the World.

An average distance from Cairo to the Moon is 384,4 thousand kilometres.

In July and August the temperatures in Egypt are highest  (average 27.9°C / 82°F) but than, lowest in January (14°C / 57°F).

The majority of the local Egypt's population are Egyptians.

Pyramids are not the only luxurious properties in Egypt.

No doubt about it today: Cheops' effort, who - with a little help of thousands of workers - built something that his contemporary could call a funeral architecture show-off, was not to no avail.

The question, bothering Giza's Sphinx for many years now, is: "where the hell is my nose"?

Wouldn't this be for oasis, one could call Sahara a "cultural desert".