Flats and Apartments

Properties on the East Bank of Luxor are predominately flats or apartments typically built in five story blocks. Many top floor flats are available for sale or rent and are eagerly taken by Europeans. They are less expensive than flats on lower floors as they are extremely hot in summer with even air-conditioning struggling to cool them and very cold after dark in winter. Frequently walking up four or five floors, as it is very rare to find an apartment with a lift, is also not for the feint hearted especially in the heat of Luxor. Second and Third floor flats are most in demand as the first floor here in Luxor is what we in the UK would call the Ground Floor.

Windows and Doors?

There are 3 main ways a flat is available for rent or sale:

1. Rent or buy the shell. No windows, doors, electric, water, just plain brick. Electric and water will be supplied to the block of flats so having it connected is fairly straight forward. This can often look to be a cheaper way to buy but the cost of finishing can easily run away with the money even if you think you have a fixed quote.

2. Rent or buy a new finished flat that has been fitted out for sale. Usually very nearly finished but the final touches are left depending on whether it is sold to an Egyptian or European. For example a typical Egyptian kitchen sink is fitted much higher than we would want.

3. Rent or buy an established flat. You can see the area, the neighbours and the flat has a history which can be easily checked with the courts. There will also be electric and water records and perhaps telephone records. No gas bills here as there is only bottled gas in Luxor.

Do I Rent or Buy?

If you are going to stay for only a few months then obviously rent but for a longer term then, in our opinion, there is no other option but to buy, but at the correct price. We bought a flat in the Fayruze area of Luxor and lived in it for just under a year whilst we were waiting for our house to be ready to move into. Though finished there was a problem with getting electric to our house so we bought a larger flat and sold the first one, but as it happens here, suddenly the electric was connected and we moved straight to our house so we sold the second flat without ever moving in. As we owned our flat there were no monthly charges except for the electric and every six months or so water, both of which were very small bills. We insured the flat which cost less than £40 for the year and that was it, nothing more to pay. If we had put the money in the bank we would have received between 6.75% and 8.50 % interest, tax free, but property in good areas is increasing in value far above this. The biggest drawback to purchasing is ensuring that you do not pay too much in the first place and, of course, that all the paperwork is correct. As an example, around three years ago when we were in Fayruze, we were offered the flat next door for less than £9000. It wasn't in very good condition so we didn't want to buy it but it was sold a couple of months later, by an unscrupulous Egyptian, to an English couple for £21,600 and this is a far from an isolated case.

Whatever you do, before you commit to anything, you MUST have your own lawyer. NOT one recommended by anybody connected with the sale or rental. Your lawyer works for you and should be able to advise you on a reasonable price to pay for a flat, which differs greatly depending on the area and which floor it is on, but it is worthwhile getting a general feel of the prices before you commit yourself.

Once purchased do not forget to insure your property and its contents to protect your investment. This is easy to do yourself or Nasser at Luxor Legal can arrange property insurance for you.

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