Tips for Choosing The Right Investments
Buying a rental property in Egypt could be daunting. There are so many options to choose from and it is completely different from the international market. When investing in a rental property in Egypt, there are certain factors you have to take into consideration and keep in mind.
The factors you need to take into consideration when investing in a rental property in Egypt are the following :
1) The rental property’s location
location is the most important factor when it comes to investing in a rental property. This is because your tenants will either be students or employees. You want to purchase properties close to universities or industrial areas
2) The average rent in the area
If you price your unit, way too high in comparison to the units around it, you won’t be able to rent it. If you price it way too low you will be missing out on money you can make. When pricing your unit’s rent you always have to consider how much other tenants are charging
3) The amenities in the area :
The services in an area increase the price of the rent. In Egypt, people rely a lot on private businesses. The more hospitals, shops, banks, schools, universities, and restaurants in an area, the higher the rent.
So where should you invest?
You can rent your property in these compounds from $1500 to $3000 a month
1) Lake view Residence
Lake View Residence is in the heart of New Cairo, the Project is 77 acres with a 22.5% built-up area.
Lake View Residence also has a neighboring retail area, an extension to the premises which is approximately 40,000 sqm consisting of a multitude of shops – global chains, high-end local brands, F&B restaurants and cafes, and many more. The ROI is high and you can receive your unit immediately!
Mivida is strategically located directly on Road 90 in New Cairo. It has an exclusive clubhouse, a sporting club, a medical complex, and a business park. This means that you can increase the rent and charge your tenants a good sum of money. The best part is: you can receive your unit right away
Sodic East Town is directly located on the 90s road and is adjacent to the AUC. It also has services like a clubhouse, shops, restaurants, and parks. Its location is prime and the services they offer are inclusive. You can receive your unit within 6 months.
TIP: In Egypt, the rent varies based on the location and the amenities, if you want to invest in a rental property make sure that the rent covers your mortgage payment.