Deputy Dr. Mohamed Attia El-Fayoumi, Chairman of the Housing Committee in Parliament, revealed details regarding the implementation of the new rental law, clarifying that the law has officially come into effect with rent values being determined in several Egyptian governorates.
El-Fayoumi explained in a television statement that the governorates have started publishing their decisions regarding the classification of housing types (Premium, Medium, Economic) in the Official Gazette, and rental values have been determined according to these classifications.
He stated that the value of premium housing is calculated by multiplying the current rent by 20, with a minimum of 1,000 EGP. For medium housing, the value is multiplied by 10, with a minimum of 400 EGP, while for economic housing, the increase is also calculated by multiplying by 10 but with a minimum of 250 EGP. He added that differences for the past three months must be paid, with the option to divide the owed amount into three monthly installments.
He pointed out that the application of these procedures begins from the date the decisions are published in the Official Gazette and will apply to all properties. He also clarified that the annual rent increase will be 15% per year until the end of the specified term for non-residential properties, which is five years, after which the relationship between tenant and property owner becomes free. In the case of residential properties, the relationship will remain governed by the law for seven years.
El-Fayoumi concluded by emphasizing the actual start of the law’s implementation, stressing that these steps aim to achieve the principle of justice and protect the rights of all parties, whether tenants or property owners.
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