Foreign investors remain cautiously positive about the Egyptian real estate market.

Posted by admin 13/10/2021 0 Comment(s)

 

 

Is this the right time to sell property in Egypt?

 

Yes, this is probably a good moment to enter the Egyptian property market, whether you want to sell or look for property for sale in Egypt. Many professionals, particularly foreign businessmen, who were formerly pessimistic about Egypt have become cautiously hopeful in recent years.

 

According to Mohamed Banany, senior vice president at Coldwell Banker, "the market is expected to continue operating normally as a safe investment haven for many buyers, but some components may differ in 2018, for example, there is a growing demand on the Administrative Capital city that will continue to rise in 2018."

 

"Generally, it is not a question of what to invest in; rather, the question is if there is any secure investment that will assure that the value of your money will not depreciate other than real estate," says Ahmed Shalaby, CEO of the top real estate development business Tatweer Misr.

 

Another major real estate developer, Abdel Rahman, co-chief executive officer of Palm Hills Developments, claimed in an interview with the Financial Times that overseas investors return to Egypt and account for 16% of his customers.

 

"This is enormous demand," Mr Rahman adds. Many of these individuals wish to leave Cairo and settle in new villages [on the outside]. Initially, it was only the wealthy who did so. But now that schools and workplaces are moving out, many individuals want to stay there to save time commuting."

 

"People are buying property before it becomes more costly, and everyone with excess income is putting some in real estate and keeping some in dollars," he says.

 

Of sure, there will be difficulties ahead. The Middle East scenario is as difficult as it has always been. A confrontation between Iran, the United States, and Israel may erupt at any time, impacting the whole region, including Egypt. That is undoubtedly a risk that international investors confront when investing in Egypt.

 

Fortunately, Egypt's political situation has stabilized. Egypt has a stable administration in place, and they have done a decent job of handling the economy thus far. Many international investors' worries have been eased as a result of this.

 

Foreign investors are interested in homes in Cairo and tourist regions such as Giza, the Red Sea, Suez, and Alexandria. Cairo's most desirable neighbourhoods are New Cairo, Nasr City, Heliopolis, Maadi, Sheikh Zayed, and the Sixth of October.

 

Egypt's population is rapidly increasing. Moreover, 60% of Egypt's population is under the age of 35. In addition, housing is in high demand in Egypt. Housing is so scarce that over 3.5 million families are actively looking. While there are over 5.5 million empty properties, most of them are out of reach for the majority of the poor and middle classes. Nonetheless, this is an excellent moment to invest in the Egyptian real estate market.

 

 

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