Supply & Demand in the Real Estate Market
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According to various sources123, Egypt’s real estate market is one of the hottest investment areas in the country, despite witnessing a surge in energy, building materials, and real estate industry inputs prices. The market has benefitted from the uncertainty and instability of regional and global economic challenges, as well as from government initiatives and megaprojects such as the New Administrative Capital, New Alamein City, and Suez Canal Economic Zone.
The residential real estate market in Egypt is expected to register a CAGR of more than 6.5% during the forecast period (2022 – 2027)4, driven by strong demand for housing from a growing population and increasing urbanization. In 2021, around 19,000 residential units were completed in Cairo4, bringing the total residential stock in the governorate to approximately 227,0004. The countrywide real estate price index increased by 28.3% (22.6% inflation-adjusted) in the year to Q1 20215, compared to a y-o-y decline of 30.8% in the same period of 20205.
The commercial real estate market in Egypt is expected to record a CAGR of approximately 5% during the forecast period6. As the Egyptian economy experienced a slowdown because of the COVID-19 pandemic, several factors combined to create a stable outlook for its traditionally resilient real estate sector6. These include low interest rates, flexible payment plans, digitization efforts, foreign land ownership reforms, public-private partnerships, and increased demand for office space and retail outlets.
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