Back to the complete issue
Thursday, 6 April 2017

90% increase in number of Egypt’s vacation homes over past 11 years -Colliers International

The number of vacation homes in Egypt has increased 90% in the past 11 years, with the North Coast remaining the most popular destination for Egyptians to purchase a second home, according to Colliers International’s report on Egypt’s second home market. The depreciation of the local currency has driven up real estate sales as a whole as people increasingly turned to purchasing second homes as a hedging instrument, thereby pushing up the average cost of these units. Nonetheless, holiday homes in Egypt remain affordable, relative to international markets, the report says.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594). Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2016 Enterprise Ventures LLC.