The Forecast for Egyptian Real Estate Market. What to Expect
December 23, 2020
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At the beginning of 2020 experts expected the recovery of the Egyptian real estate market with a coming increase in the number of transactions and housing prices. At the end of the precious year, analysts were optimistic and noted the success of the country's economy. However, the pandemic intervened.
Real estate in Egypt has been getting cheaper for five years in a row. In 2016, the country's authorities let the Egyptian pound free float, which led to a sharp depreciation of the national currency. Nominal apartment prices jumped, but real prices fell down with the adjusted for inflation.
Meanwhile, the economy is not in a bad condition. The government is engaged in large-scale infrastructure projects, including housing construction. The most famous one is the new capital city of the country. Banks reduce interest on loans to make purchases more affordable. Egyptians themselves prefer to save money from inflation in square meters.
According to the World Bank, Egypt has laid the foundation for a sustainable economy over the past few years. Even despite Covid-19, GDP is expected to grow by 3.5% in 2020 (there are only a few such countries in the world). Savills analysts also believe in the prospects for investment in the "land of the pharaohs".
The key reason for the imminent demand for housing is a huge increase in population (plus 2,5 million people annually) and an increase in living standards, which slowly happens.
All of the above applies primarily to Cairo and other major cities. Foreigners are interested only in seaside locations like Hurghada, Sharm el-Sheikh and some others. The resort real estate prices depend both on the situation in the economy, the income of local residents, and the results in the field of tourism, which brings new vacationers and buyers here.
In 2019, the country received 13.1 million guests, and the contribution of the travel industry to GDP was more than 15%. This money did not come back in 2020, every month without tourists costs a billion dollars lost, about 3 million workers in the industry suffer.
On the one hand, real estate in Egypt for foreigners (anyone who keeps savings in dollars or euros) has become twice as cheap as it was five years ago. Now prices in the red sea resorts start from $250-300 per sq.m and that makes Egypt one of the most affordable countries in the world to buy a cottage by the sea.
In the vibrant and developing Al Ahei area, our Turtles Resort is located.
Supermarkets, pharmacies, restaurants, banks, buses and taxis are only 5 minutes from the resort and are very easy to find.
Turtles Beach Resort offers you a cozy and large 2 bedroom apartment with an area of 90 square meters overlooking the street, on the 2 floor...
Living Point Property LTD
24 784 €
Flat in Sharm el-Sheikh, Egypt
20 sq.m1
Remote Transaction
Delta Charm - the most active sales! The most popular rental! Modern residential complex Delta Sharm ("Delta Charm") Surrounded by greenery and flowers, it is a favorite place of all residents of Sharm el-Sheikh and is especially popular with tourists.The Delta Sharm residential complex is located in the most developed area of Sharm el-Sheikh,...
SunResidence
645 312 €
Villa in El-Gouna, Egypt
181 sq.m35
CitizenshipOnline Viewing
Project features:A complex of villas with a total area of 87,000 square meters (Designer EDSA) Spectacular view from each villa on the Ancient Sands golf course The spacious location of each house at a distance of 12 meters from each other ensures maximum privacy for all residents There is a 2-kilometer running track on the territory with a...
Villa in Mubarak 6
Land 300 meters
Garden 280 meters
+ house 120
First floor:
120 meters 2 large bedrooms, hall with open kitchen, dining area, storage room, bathroom
2nd floor 95 meters
2 bedrooms, a bathroom and a master bedroom with a separate bathroom, a balcony
Roof 95 meters
There is a room with a bathroom 30 meters, the...
apartment on the territory of the Stella Makadi hotel, 2nd floor studio, but converted into 1 bedroom, with its own beach, 500 m from the sea, lifelong maintenance. Super offer!!
IdealHome
313 000 €
Villa in Sahl-Hasheesh, Egypt
177 sq.m954
il Bayou is a fully serviced complex in Sahl Hasheesh on the Red Sea. The beach is only 350 meters away. About 85 villas and +60 serviced apartments of various types are located on the territory of the project. Design revolves around the quality of shared spaces and the values of landscape design. The layout is organized by the presence of...
NOA Real Estate Egypt
261 500 €
Villa in Hurghada, Egypt
276 sq.m656
Residence
La Quinta Heights offers a wide selection of fully finished villas surrounded by greenery and high-level services, which makes it an ideal place for a quiet and safe family life. This exclusive project was designed with the concept of comfortable living in mind, with basic amenities that are very close to such as a shopping center, hotels,...
NOA Real Estate Egypt
38 950 €
Studio in Hurghada, Egypt
41 sq.m11
Location: Al-Hadaba, Hurghada, Red Sea Project delivery: within 24 months with all amenities Delivery of apartments: within 18 months on a turnkey basis Convenient installments of up to 3 years with a down payment of 35% The balance is paid in equal installments within 36 months. Payment upon receipt of keys (additional payment) 10% service fee...
NOA Real Estate Egypt
87 875 €
Flat in Hurghada, Egypt
95 sq.m321
Location: Al-Hadaba, Hurghada, Red Sea Project delivery: within 24 months with all amenities Delivery of apartments: within 18 months on a turnkey basis Convenient installments of up to 3 years with a down payment of 35% The balance is paid in equal installments within 36 months. Payment upon receipt of keys (additional payment) 10% service fee...
NOA Real Estate Egypt
87 000 €
Apartment in Hurghada, Egypt
78 sq.m211
A new project in Hurghada is the "Storia del Mare" project. It is located on an area of 10,000 square meters with a large marina, and 97% of the apartments have sea views. The project provides for its own landscaped beach. A distinctive feature of this project is its excellent location near the Hilton Plaza and City Centre Mall shopping centers....
NOA Real Estate Egypt
29 900 €
Apartment in Hurghada, Egypt
75 sq.m211
Online ViewingRemote Transaction
LOCATION: Hurghada-Al Kawther, EGYPT
BUILD YEAR: 2017
LEVELS: 5
FLOOR: Ground
SQM.: 75
VIEW: 44
BEDROOM: 1
LIVING ROOM: 1
AMER. KITCHEN: 1
BATHROOM: 1
BALCONY: 0
AIR CONDITION: YES
FURNISHED: YES
GENERAL FACILITIES DISTANCE 24/7 SECURITY
CLOSE TO THE PUBLIC BEACH
SWIMMING POOL
CLOSED COMMUNITY
ELEVATOR
AIRPORT...
NOA Real Estate Egypt
57 000 €
Apartment in Hurghada, Egypt
76 sq.m431
Online ViewingRemote Transaction
LOCATION: Hurghada-Makadi Heights, EGYPT
BUILD YEAR: 2012
LEVELS: 2
FLOOR: Ground
SQM.: 76 + 50
VIEW: Garden view
BEDROOM: 3
LIVING ROOM: 1
AMER. KITCHEN: 1
BATHROOM: 1
BALCONY: 1
AIR CONDITION: NO
FURNISHED: NO
GENERAL FACILITIES
DISTANCE
24/7 SECURITY
PRIVATE BEACH
SWIMMING POOL
SUPERMARKET
CLOSED...
NOA Real Estate Egypt
46 668 €
Apartment in Hurghada, Egypt
65 sq.m321
Online ViewingRemote Transaction
LOCATION: Hurghada-Al Ahyaa, EGYPT
BUILD YEAR: 2023
LEVELS: 5
FLOOR: Ground
SQM.: 65
VIEW:
BEDROOM: 2
LIVING ROOM: 1
AMER. KITCHEN: 1
BATHROOM: 1
BALCONY: 1
AIR CONDITION: YES
FURNISHED: YES
GENERAL FACILITIES
DISTANCE
24/7 SECURITY
CLOSE TO THE PUBLIC BEACH
SWIMMING POOL
CLOSED COMMUNITY
ELEVATOR
AIRPORT...
NOA Real Estate Egypt
441 094 €
Villa in El-Gouna, Egypt
149 sq.m433
CitizenshipRemote Transaction
The townhouse is in a traditional local style, but with a modern renovation. Double ceiling height, roof with seating area, view of the communal pool.
Real estate on the territory of a large project that was awarded the Global Green City award, established by the United Nations as part of the environmental protection program. There is even a...
Apex Capital Partners
95 394 €
Apartment in Hurghada, Egypt
85 sq.m211
LOCATION: Hurghada-Al Kawther
BUILD YEAR: 2016
LEVELS: 5
FLOOR: 5
SQM.: 85
VIEW: Sea view
BEDROOM: 1
LIVING ROOM: 1
AMER. KITCHEN: 1
BATHROOM: 1
BALCONY: 1
AIR CONDITION: YES
FURNISHED: NO
GENERAL FACILITIES
CAFE & RESTAURANTS
24/7 SECURITY
CLOSE TO THE PUBLIC BEACH
ELEVATORS
UNDERGROUND...
NOA Real Estate Egypt
85 752 €
Flat in Hurghada, Egypt
73 sq.m211
Online ViewingRemote Transaction
Storia Del Mare elevates the Red Sea lifestyle with luxury and creativity. The building combines beauty, sophistication and unsurpassed convenience Storia Del Mare is a low—cost investment opportunity on the shores of the magnificent Red Sea, combining outstanding elegance and creativity. The Del Mare History project. It is located on a 10,000...
Go Shalabi
155 000 €
Flat in Hurghada, Egypt
146 sq.m321
Online ViewingRemote Transaction
LOCATION Located on the first line of the Red Sea coast in the Al Ahia area, La Quinta offers an excellent location next to the Al Ahia area hotels and the Palm Beach Hotel. Just a 10-minute drive from El Gouna, 15 minutes from Hurghada International Airport, 20 minutes from Kauser district and Hurghada Tourist Boardwalk, and 30 minutes from...
Go Shalabi
38 960 €
Flat in Hurghada, Egypt
89 sq.m321
Online Viewing
The 3 Pyramids Resort offers easy access to shops, restaurants and entertainment venues. Live in the center of everything, but at the same time feel far from the city. "Amenities Guide:" Take advantage of the best-in-class facilities at 3 Pyramids Resort. From the gym to the park The area of the apartments is from 48 sq.m. to 142 sq.m. Types of...
Go Shalabi
35 539 €
Flat in Sharm el-Sheikh, Egypt
55 sq.m211
ResidenceRemote TransactionRental property
Apartment in the center of Sharm el Sheikh.Discount until the end of the month! A spacious 1-bedroom apartment with a total area of 55 sq.m is located in a residential residential complex in the heart of Sharm el Sheikh in the Naama Bay area.There is a tourist promenade nearby, where there are many cafes and restaurants. The sea is 600 meters...
SunResidence
52 500 €
Flat in Hurghada, Egypt
70 sq.m321
Online ViewingRemote Transaction
3-room apartment in La Prestigia – life in the city center
Apartment in La Prestigia – modern amenities and services right in the residential complex! This apartment is an interesting option for people who want peace and comfort in their own home. Why? It's very simple.. This apartment in La Prestigia has enough space for...
On the other hand, the prospects of moving around the world (and this is critical for vacation home owners) are still not clear, and the consequences of the pandemic for the economy are unpredictable. In 2019, it seemed that the price "bottom" was already very close, but now the great finale is shifted indefinitely until the world will cope with the coronavirus.
The state of the market depends only on what will happen after the pandemic. As soon as the situation is exhausted, prices will rise. I assume that in the year after the pandemic, the growth will be gradual. And in another year, if the virus does not return, prices will double compared to the current ones. Well, such low prices as today, was not the last fifteen years.
