The new Real Estate Law

The change of the new real estate registration law aims to facilitate procedures.To complete the procedures faster,

the head of the real estate registry has set a new time limit of  37 days, where before it was 2 years, to transfer ownerships,

including all cases of real estate registrations.

Dr. Jamal Yaqout, head of the Real Estate Registration Authority,

said that the costs of transferring real estate ownerships to chalets are not different from transferring units.

He pointed out that to obtain the contract within 37 days,

the administrative expenses for moving a unit of 200 meters,

amounted to 4,000 pounds and for units that exceed 200 – 300 meters,

the registration fee will not exceed 4,500 pounds. Furthermore,

he explained that starting from the first of July, they will start to register ownerships electronically.

Dr. Jamal Yaqout mentioned, that the new law made sure to end all problems related to registering or transferring real estate ownerships,

allowing all real estate registration activities to be carried out electronically.