The expected annual growth rate for the real estate market from 2022 to 2030 is anticipated to reach 5.2%, according to information from the Prime Minister.
A recent study predicts a high annual growth rate for the real estate market in Egypt from 2023 to 2030. Reports indicate that the expected annual growth rate for the market during this period will be around 5.2%. This increase in the annual growth rate is attributed to several economic and political factors currently affecting the country. These include improved investment security, infrastructure development, and a general enhancement of the investment climate. This continuous growth is expected to lead to increased demand for real estate in Egypt and improvements in prices, making the market more attractive to both local and foreign investors.
The real estate market in Egypt has been significantly affected by the COVID-19 pandemic. The market has undergone radical shifts due to the challenging conditions imposed by the pandemic on the Egyptian and global economies. Notable negative impacts on the real estate market in Egypt due to the pandemic include a decline in demand and supply for properties, delayed buying and selling transactions, and price decreases in some areas due to financial pressures faced by investors and buyers. Other sectors linked to the real estate market, such as construction, real estate services, design, and decoration, have also been heavily affected due to production and construction halts and the postponement of new projects.
However, the real estate market in Egypt has gradually started to recover with the beginning of 2021 as the government eased restrictions and reopened commercial and investment activities. Continuous improvement in the market is expected in the long term, especially with the development of vaccines, easing precautionary measures, and boosting confidence in real estate investment. This recovery may lead to increased demand for real estate in the future and price improvements in certain regions. It is crucial to take necessary measures to support the real estate market and enhance confidence in order to achieve sustainable economic growth in Egypt.
The market may face some challenges in the coming period, such as rising construction costs and interest rate fluctuations. However, these challenges are expected to be overcome due to the growing interest in the real estate sector in Egypt and efforts to promote it. Therefore, it can be said that the real estate market in Egypt is likely to experience sustainable growth in the coming years, making it an attractive investment opportunity for investors interested in the real estate sector.
While forecasts for prices in the real estate market in Egypt are available for the upcoming period, it’s essential to note that these predictions depend on various variable factors, such as political and economic disturbances, social conditions, and changes in supply and demand.
It is expected that real estate prices in Egypt will experience relative stability in the upcoming period, with an increase in the annual growth rates of the market. Some areas may witness greater price increases than others due to local factors influencing each region individually. Price expectations can be obtained through real estate market studies, financial analyses, demand and supply analysis, as well as by monitoring developments in the local and global real estate market. These forecasts can be valuable in making future investment decisions in the real estate market in Egypt.
