News about the country

Property prices in Egypt fell 2.28%, according to the Global Property Guide.

This was an indicator of the improvement of the local market: if the national real estate index in 2019 fell by only 2.28%, then in 2018 it decreased by 19.24%.

The cost of housing in the country last year increased by 4.66%, but at the same time, real prices in the real estate market in Egypt fell by 10.12% on a quarterly basis for the fourth quarter of 2019.

The yield on real estate in Cairo is about 9.4%. The average cost per square meter in the capital is about 831 dollars.

Egyptian real estate has become much more affordable due to the depreciation of the local currency. In January 2020, the average exchange rate was 15.8 Egyptian pounds per 1 dollar.

At the same time, there is a great demand among Egyptians for housing in Egypt - the country's population is growing by 2.5 million people a year, about 1 million marriages are concluded every year.


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