Buying an apartment in Egypt from abroad on installments: steps, power of attorney and money transfers

Many Egyptians abroad want an apartment in Egypt on installments, but travelling for every step is hard. The good news: most steps happen from where you are, and someone you appoint can sign for you.

1. Choose the unit from your budget

Set the amount you have now and the monthly installment you can pay. On for Egyptians abroad you type your budget in your local currency and see the units it covers in pounds.

2. Check the unit remotely

• Ask for copies of the contract and the receipts.
• Ask for a balance statement from the developer; see what a balance statement is.
• Ask about the developer’s administrative fee and who bears it.

3. The power of attorney

If you will not attend the signing, you need a formal power of attorney for someone you trust:

1. It is made in person at the Egyptian consulate in the country where you live.
2. The original is sent to Egypt and authenticated by the Ministry of Foreign Affairs.
3. It is deposited at the Real Estate Registry (الشهر العقاري) before use.

Before making it, ask the developer whether it accepts signing a transfer by power of attorney, and in what wording.

4. Moving the money

Transfer amounts through banks only, and never pay cash or into the account of anyone other than the seller or the developer. The seller is paid at the signing at the developer’s, not before.

5. After the transfer

You continue the installments to the developer on their dates, and you can pay them from abroad through the ways the developer offers.

Start now: type your budget in your currency, or browse the available units.