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Ras El Hekma, Marassi and the new resort cities of the North Coast: how foreigners buy prime property in Egypt, paying in foreign currency, and citizenship from US$300,000.
At a glance
| Can foreigners buy? | Yes, freehold, under Law 230 of 1996: up to two homes for the owner and close family, each up to 4,000 m², with exceptions granted by the Minister of Justice. Sinai, agricultural land and border and military zones are closed to foreign ownership. |
|---|---|
| Buyer costs | Low: registration fees on a fixed scale, plus lawyer and agent fees. Residential units carry no VAT on a primary sale. Developers usually take a maintenance deposit. |
| Seller pays | 2.5% tax on the gross sale price, kept by Law 151 of 2026. |
| Residency through property | Yes. Citizenship from US$300,000 in property, and renewable residence permits linked to property value (thresholds to confirm). |
| Payment | Foreign buyers pay in foreign currency through an authorised bank. |
| Currency | Egyptian pound (EGP). Prices rose fast after the 2024 devaluation, so compare in US dollars. |
| US tax treaty | Yes. |
Why buy here
Egypt's North Coast on the Mediterranean, west of Alexandria, has become one of the fastest-growing resort coasts in the region. At its heart is Ras El Hekma, a new city being built by Abu Dhabi's Modon, with homes by Egypt's leading developers alongside; to the east lie Sidi Abdel Rahman, Marassi and the year-round city of New Alamein.
Buying costs for the buyer are low, developers sell on long instalment plans, and property of US$300,000 or more can lead to Egyptian citizenship. The rules are often changed by cabinet decision rather than statute, so a good Egyptian lawyer matters.
Planning a first visit? See our guide to the Pyramids, the Grand Egyptian Museum and the Nile.
Who can buy
Law 230 of 1996 allows a foreigner up to two homes for the owner and close family, each no larger than 4,000 m², with no resale for five years unless the Prime Minister consents. The official investment portal (GAFI) still lists these limits, with the power to grant exceptions now delegated to the Minister of Justice. A 2023 Cabinet draft to lift the caps for buyers paying in foreign currency was not found enacted, so treat the caps as live and get a written exception or legal opinion for any purchase beyond them.
Closed to foreigners: Sinai (foreigners get usufruct only), agricultural land, military and border zones, protected areas and archaeological sites.
Americans are treated like other foreigners. A company majority-owned by foreigners is treated as foreign; a holding company is not a workaround for a private home.
Best areas to buy
All figures are indicative. Compare in US dollars.
Indicative prime priceEGP 217,768 per m² on average (third quarter of 2025)
The new city by Modon of Abu Dhabi, with SODIC June, Palm Hills Hacienda and Mountain View EVIA alongside.
JLL, reported by Daily News Egypt, May 2026.
The Egypt's North Coast Territory →Indicative prime priceVillas about EGP 298,800 per m² on average (third quarter of 2025)
Seasonal beach villas and chalets on the white-sand bays west of Alexandria.
JLL, reported by Daily News Egypt, May 2026.
The Egypt's North Coast Territory →
Indicative prime priceNo reputable per-m² figure published
A year-round, state-built city with towers on the sea.
Searched 31 October 2026.
The Egypt's North Coast Territory →Also bought by international buyers: the gated villa compounds of Sheikh Zayed and New Zayed in West Cairo (villas about EGP 236,400 per m²) and New Cairo (apartments about EGP 102,245 per m²) (Knight Frank, May 2025), and Orascom's lagoon town of El Gouna on the Red Sea.
Developers
Projects selling or taking enquiries on 31 October 2026.
The Abu Dhabi master developer of Ras El Hekma. Visit website (opens the official site) ↗︎
Marassi North Coast, Uptown Cairo, Mivida and Cairo Gate. Visit website (opens the official site) ↗︎
June, Ogami and Caesar on the North Coast, SODIC East and The Estates Residences in West Cairo. Visit website (opens the official site) ↗︎
The Hacienda resorts, including Ras El Hekma, and Badya. Visit website (opens the official site) ↗︎
EVIA at Ras El Hekma and the iCity communities in Cairo. Visit website (opens the official site) ↗︎
The lagoon town of El Gouna on the Red Sea, with resales and a marina. Visit website (opens the official site) ↗︎
How to buy
Signatures are authenticated at the Real Estate Publicity Department (Shahr Aqari) or by a court.
The developer's land title and building licence, the master-plan status, any security-zone restrictions and, for resales, the chain of contracts back to a registered title.
For new builds, a reservation fee, then a sale contract with a down payment and the balance in instalments over several years.
Pay through a Central Bank-authorised bank and keep the bank's certificate of inward transfer: it supports later repatriation of the proceeds.
Ownership passes only on registration at the Shahr Aqari. Many buyers in new communities hold only the developer contract; insist on a route to full registration.
Off-plan homes are usually delivered in three to five years; a resale of a registered unit takes about one to three months.
Lawyers and lenders who serve foreign buyers can be listed on this page. To advertise, write to [email protected].
Taxes and fees
| Item | Rate or cost | Paid by |
|---|---|---|
| Real estate disposal tax | 2.5% of the gross sale price, with no deductions (kept by Law 151 of 2026) | Seller |
| VAT | Residential units are exempt | — |
| Registration fees | A fixed scale by floor area, about EGP 500 to EGP 2,000 | Buyer |
| Stamp duty | A nominal EGP 1 per contract copy | Buyer |
| Annual real estate tax | 10% of the assessed net annual rental value; only one family main home is exempt, so holiday homes are taxable | Owner |
| Rental income | Progressive income tax on rent after a flat 50% deduction for costs | Owner |
Egypt has no wealth tax and no inheritance tax.
Residency
Citizenship by investment: open. US$300,000 in property, paid from abroad in foreign currency (payable over up to 12 months), with no sale for five years. Since September 2023 property bought from private developers and individuals also qualifies. Obtain a file number from the Citizenship by Investment Unit before transferring funds. Other routes include a US$500,000 refundable deposit or a US$250,000 non-refundable payment.
Residence through property: renewable permits linked to the value of property owned exist, but published thresholds conflict between sources. Confirm the current figure with the Passports and Immigration Administration before relying on it.
For Americans: the US–Egypt income tax treaty applies, and US citizens remain taxable in the US on worldwide income.
Founding Partners
Founding Partners
Three places for Founding Partner Agencies and three for Developers in each Territory. Places are open.
Territory in Egypt: Egypt's North Coast.
Questions
Yes, freehold, generally up to two homes for personal use, each up to 4,000 m², outside Sinai and restricted areas. Larger purchases need a written exception.
Yes. Property worth at least US$300,000, paid in foreign currency from abroad and held for five years, qualifies.
Buyer costs are low: registration fees on a fixed scale, lawyer and agent fees and a developer's maintenance deposit. The seller pays a 2.5% tax on the gross price.
Not freehold. Sinai is reserved to Egyptian ownership; foreigners can hold usufruct rights only, with security clearances.
Where to stay while you look
Selected by TheMediterranean.com · Aswan, on the Nile
View the ResortChecked and sourced
Checked 31 October 2026. Rules and rates change; confirm with a qualified lawyer and tax adviser before you buy. TheMediterranean.com is not a real estate broker, agent or finder, and nothing here is legal, tax or immigration advice.
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