Back to the complete issue
Tuesday, 4 July 2017

Market trends show Egypt’s property boom looks set to continue on the back of expat growth

Market trends show Egypt’s property boom looks set to continue on the back of demand from abroad: Egypt’s property boom appears to show no signs of slowing down, particularly since the EGP float, according to OLX Egypt’s most recent report (pdf). The appeal appears to be significant among foreign investors and expats, with traffic of online searches for property in Egypt from the GCC reaching 51%. The report, which ran a comparative analysis between Cairo and Dubai, suggests that the decreased purchasing power of the EGP is driving this influx. The cost of living index in Dubai is approximately 186.15% higher than in Cairo, with the value of apartments for sale being seven times greater and where rent prices are almost six times more expensive. Overall, Egyptians spent a total of 65 mn minutes perusing for real estate on OLX Property in 2016, with top locations searched being Nasr city, Maadi, Sheikh Zayed City, Heliopolis and the Fifth Settlement. “These results demonstrate the Egyptian property trend moving towards urbanization, as property seekers are on the look-out for areas such as Fifth Settlement and Sheikh Zayed where the long-term investment is worthwhile as prices are always on the rise,” said the report.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. 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. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.