Egyptian Real Estate Market Forecast 2024

The Egyptian real estate market is considered one of the most prominent areas that are witnessing increasing interest, especially in New Cairo. Population growth and continuous economic developments exceed the demand for real estate, making understanding the real estate market expectations for 2024 of great importance to investors and stakeholders alike.

The general situation of the real estate market in Egypt:

The real estate market in Egypt is characterized by its diversity and activity, as many residential, commercial, and tourist projects are witnessing continuous development. The government is also working on developing the infrastructure and simplifying procedures to facilitate buying and selling operations.

Real estate market advantages:

• Increasing demand: The Egyptian real estate market is witnessing an increasing demand for various types of real estate, especially residential units, due to the continuous population growth and the rise in the standard of living.
• Diversity of projects: The Egyptian real estate market offers a great diversity of projects, in terms of location, type, area and price,
• Foreign investments: Egypt is an attractive destination for foreign investments in the field of real estate, especially with the improvement of the investment environment and the provision of many facilities for investors.

Real estate prices in New Cairo:

Real estate in New Cairo is witnessing a fluctuation in prices, as it is affected by several factors, including the location, available facilities and general economic developments. However, the demand for real estate in this area remains high due to the continuous population growth and the increasing interest in modern real estate projects.

The impact of economic developments on the real estate market:

Economic developments play a major role in determining the trends of the real estate market, as economic growth, changes in the exchange rate and interest rates affect the decisions of investors and buyers in the real estate market.

The most prominent effects of economic developments on the real estate market:

• Economic growth: Economic growth leads to an increase in the demand for real estate, especially residential units, due to the improvement in the standard of living and the increase in income.
• Changes in the exchange rate: Changes in the exchange rate affect real estate prices, especially in the presence of foreign investments in the real estate market.
• Interest rates: Interest rates affect the ability of individuals to obtain real estate financing, and thus affect the demand for real estate.

Advantages of life inside the compound in New Cairo:

Life in the compounds is characterized by luxury, security and integrated services, making it a preferred option for many individuals and families. It provides an integrated environment that includes schools, hospitals, shopping centers and green spaces, making it ideal for living and investment.

• Luxury and security: The compounds have modern designs and advanced infrastructure that provide a safe and quiet environment for the residents. They provide advanced security systems such as surveillance cameras and around-the-clock security. They provide various recreational services such as swimming pools, sports clubs and playgrounds for children.
• Integrated services: The compounds provide all the basic services such as schools, hospitals and shopping centers within their borders. They provide periodic cleaning and maintenance services for public areas and residential units. They provide various recreational services such as swimming pools, sports clubs and playgrounds for children.

Reasons for the increase in demand for residential units in New Cairo:

The reasons for the increase in demand for residential units in New Cairo are due to the continuous population growth, the availability of advanced infrastructure and integrated services, in addition to the political and economic stability that Egypt is witnessing.

Al Riyadh Egypt and its new project PEERAGE residence

Al Riyadh Egypt is one of the leading companies in the field of real estate, and it is distinguished by providing high-quality projects with a unique design. Among its new projects, the peerage residence project stands out, which provides a group of luxurious residential units with innovative designs and integrated facilities.

Allowing foreigners to buy real estate without restrictions:

The government’s decision to allow foreigners to buy real estate without restrictions is considered a positive step that enhances the attractiveness of the Egyptian real estate market to foreign investors and contributes to increasing the demand for real estate.

Conclusion:

The real estate market expectations in Egypt for 2024 indicate the continuity of growth and stability, making it an ideal environment for investment in real estate, especially in New Cairo. With the development of infrastructure and the diversity of real estate projects, the market is expected to witness a significant increase in demand, especially for residential units.