Your full guide on the Egyptian Real Estate market in 2023!

The year 2022 had witnessed major local and global events and drawbacks. And as for real estate market, it was one of the areas that underwent significant change. Egypt was able to demonstrate that its real estate market can face challenges and still be profitable. It is estimated by developers and investors that real estate market in Egypt will continue its progress.

The year 2022 had witnessed major local and global events and drawbacks, which undoubtedly had an impact on all areas and levels, and particularly the economy. And as for real estate market, it was one of the areas that underwent significant change.

Egypt was able to demonstrate that its real estate market can face challenges and still be profitable. Therefore, despite all challenges, we saw a number of new real estate development companies arrive in Egypt and a number of real estate projects begin.

This year has also seen a significant presence of national projects, the significant among them are the inaugurations of El Alamein, the new administrative capital, and Mansoura, the new city.

One of the wise choices you can think of if you want to secure multiple income sources is investing in real estate. As one of the best options for securing the future of your family, you must either create a plan for your investments or begin to consider buying the home of your dreams.

Real estate purchase or investment decisions involve a number of factors, all of which must be present for the buying or selling process to be successful. To get the desired results, it's important to use every rule and tip.

Check out: Should you own commercial space or lease it?

Real Estate investment in Egypt

Real Estate investment in Egypt

One of the best and most significant types of investment in Egypt is real estate. Real estate investing involves buying a home with the intention of renting it out or selling it for a profit. As the Egyptian government has recently focused on developing numerous new cities, as we mentioned some of the significant ones above, this type of investment has been rising even more over the past few years.

Due to this trend, more Egyptian investors and businesspeople are eager to buy real estate in these emerging areas. As foreigners view investing in those areas as a worthwhile opportunity, it is also seen as a significant step towards real estate exporting, which has the effect of stimulating both the real estate market and the Egyptian economy more generally.

What are the benefits of real estate investment in Egypt?

Avoidance of Economic Inflation

Due to a property's ability to maintain value over time, real estate investment is a powerful tool during times of economic inflation, depreciation of the Egyptian pound against the dollar, and rise in the cost of goods and services.

It is regarded as the best investment option among the rest because it offers higher returns, lower risk, and inflation protection. For all those reasons, investors are always keen to invest their money in real estate despite any increase in property prices and market fluctuations.

Long and short term profit 

Long-term and short-term gains can be made from investing in real estate. You can purchase a property and make quick money by renting it out. Or you could purchase a property, make improvements to it, and sell it years later to make long-term profits.

Safe income source after retirement

A great way to generate a reliable income after retirement is through real estate investing. Anyone who wants to invest their money to be able to generate a consistent income for their future can do so successfully.

Given this information, what’s the market overview in 2023?!

Real Estate Market in 2023!

Real Estate Market in 2023!

According to Daily News Egypt, due to rising inflation and price spikes in construction materials, property prices in Egypt will undoubtedly rise over the first quarter of 2023. As a result, developers will be forced to raise the price of available units for sale. 

It is estimated by the developers and investors that the building of new cities in Egypt will continue its process in 2023, following the vision of Egypt 2030. As these cities and big projects attain a big part of Egypt’s projects. 

Additionally, both domestic and international investors have a high demand for commercial and administrative space, particularly in the New Administrative Capital. The property market in West Cairo and Sphinx Airport will also benefit from the Grand Egyptian Museum's opening. This is consistent with Egypt's efforts to grow and advance in this area.

Although the Egyptian government has given the local real estate market a lot of attention, there is still much that needs to be done to regulate it. For example, more rules, laws and regulations between the buyers, developers, and investors to sustain the growth. We’re anticipating to see this through 2023!

Moreover, as stated by Langer-Paget, Head of Savills Egypt, he predicted that prices would rise across all industries, including the office and retail sectors, but that Egypt's logistics industry would experience the greatest growth over the next 24 months.

However, we’re still in the beginning of the year and many things are still not certain due to the fluctuation of the dollar and the depreciation of the Egyptian pound. A lot can happen these days in the market and we, at Tayf, will try to keep you updated. 

If you’re looking to invest in real estate do it now because real estate prices and market-affecting commodities like the price of gold are constantly rising, and it’s always better to start at the beginning of the year. 

At Tayf, we’re making every possible effort to provide you the updates you need and also support you with your investment journey all the way. 

Contact us now and visit our website to know more!