The Egyptian real estate market in 2024 has proven resilient despite significant economic challenges. From currency fluctuations to rising inflation, the year saw rapid changes, government interventions, and innovative strategies by developers to attract investments and sustain growth. Let’s delve into the key developments and trends that shaped the industry this year. Highlights of Egypt’s Real Estate Market in 2024 1. Rising Inflation and Currency Depreciation - Egypt faced a sharp depreciation of its currency after the Central Bank floated the Egyptian pound in March 2024. - Inflation soared, leading to increased construction costs and a notable 100% surge in property prices across several prime areas like New Cairo, the North Coast, and the New Administrative Capital. - Developers responded by extending installment periods, offering payment plans up to 12 years to balance affordability and sustain demand. 2. Government Support for Developers - The Egyptian government implemented measures to stabilize the sector: Reduced reservation fees for large projects. Extended project deadlines by six months in new cities. Allowed flexible land pricing and installment postponements for developers. - Such policies encouraged continued activity in the sector despite economic pressures. 3. Growth in North Coast Projects - The North Coast saw exceptional sales, contributing over 53% of Egypt's total real estate revenue in 2024. - High-profile projects like Ras El-Hekma, backed by UAE’s ADQ Holding, garnered significant attention with $150 billion in investments. 4. Shifts in Market Dynamics - Luxury housing demand increased, while the resale market gained traction in the year’s first half due to rising primary market prices. - However, economic instability in the latter half caused a slowdown, with buyers hesitating amid price uncertainties. Top Trends That Defined the Real Estate Market Flexible Payment Plans Developers introduced innovative payment solutions to combat affordability issues: - Down payments as low as 10%. - Installments spread over 8–12 years. - Promotions, such as upgrades to fully finished units or cash discounts. Focus on New Infrastructure The Egyptian government prioritized creating world-class infrastructure in projects like Ras El-Hekma, which promises to transform the Mediterranean coastline and generate over 100,000 jobs in construction and contracting. Rising Rental Yields - Rental prices increased annually by 22% in West Cairo and 18% in New Cairo, as real estate emerged as a financial hedge against inflation. Emerging Investment Opportunities in 2024 1. Ras El-Hekma: A Mediterranean Marvel - The Ras El-Hekma project is a flagship collaboration between Egypt and the UAE, featuring investments from the New Urban Communities Authority and ADQ Holding. - With a $24 billion commitment from ADQ alone, it is projected to become a global tourism hub, boosting employment and Egypt’s foreign exchange reserves. 2. Affordable Housing Options - Developers are revisiting mid-range housing due to increasing demand for affordable properties. - Flexible financing options have become the norm, drawing in both local buyers and foreign investors. 3. Resale Market Boom - Many investors leveraged their properties for quick profits during the year's first half. - Despite the slowdown in the latter half, the resale market remains attractive for those seeking safe, high-yield investments. Egypt’s Real Estate Outlook The Egyptian real estate sector’s resilience highlights its potential as a lucrative investment opportunity. With government-backed infrastructure projects, innovative developer strategies, and a growing demand for luxury and affordable housing, the market is poised for steady growth in 2025.
La Luna Azure
Sokhna | Convoy Developments
Boho Sokhna
Sokhna | Atric Developments
M Residence is located in Galala, Sokhna. The developer of M Residence is Tatweer Misr.
The completion date for M Residence is and the finishing for the properties are Fully Finished.
La Luna Azure is located in Zafarana, Sokhna. The developer of La Luna Azure is Convoy Developments.
The completion date for La Luna Azure is and the finishing for the properties are Fully Finished.
La Luna Beach is located in Zafarana, Sokhna. The developer of La Luna Beach is Next Deal For Real Estate Inv..
The completion date for La Luna Beach is and the finishing for the properties are Fully Finished.
The starting price of properties in La Luna Beach is Ask for price with a price per sqm of Ask for price. The downpayment for a property in La Luna Beach is starting at Ask for price or Ask for price. The number of installments for a property in La Luna Beach is 24 installments and has a payment plan of 6 years. The monthly payment of a property in La Luna Beach Ask for price
Bellagio is located in Zafarana, Sokhna. The developer of Bellagio is Next Deal For Real Estate Inv..
The completion date for Bellagio is and the finishing for the properties are Fully Finished.
The starting price of properties in Bellagio is Ask for price with a price per sqm of Ask for price. The downpayment for a property in Bellagio is starting at Ask for price or Ask for price. The number of installments for a property in Bellagio is 12 installments and has a payment plan of 3 years. The monthly payment of a property in Bellagio Ask for price
Boho Sokhna is located in Attaka, Sokhna. The developer of Boho Sokhna is Atric Developments.
The completion date for Boho Sokhna is and the finishing for the properties are Fully Finished.
La Vista 4 is located in Attaka, Sokhna. The developer of La Vista 4 is La Vista Developments.
The completion date for La Vista 4 is and the finishing for the properties are Fully Finished.
The starting price of properties in La Vista 4 is Ask for price with a price per sqm of Ask for price. The downpayment for a property in La Vista 4 is starting at Ask for price or Ask for price. The number of installments for a property in La Vista 4 is 8 installments and has a payment plan of 2 years. The monthly payment of a property in La Vista 4 Ask for price