Real estate Prices to Increase in 2019

By: Taarek Refaat

CAIRO, Dec. 26 (SEE)- Ayman Sami, head of the JLL consultancy group said on Wednesday that Egypt's Real estate prices are expected to increase 10-20 percent in 2019.

Sami added that the significant increase in property prices, which occurred after the liberalization of the Egyptian currency, will not be repeated.

"The real estate market is expected to recover slowly during the year 2019 due to the low purchasing power (PP) and inflation," he noted.

The actual recovery in the sector is expected to occur by the year 2020, in which the private sector will provide 40 thousand new real estate units, compared to the 30 thousand of 2017 and 2018.

Meanwhile, the year 2018 witnessed a 25 percent rise in the prices of real estate.

New Cairo witnessed a 19 percent rise in prices, while the city of 6 October marked a 24 percent increase.

Despite the low economic growth following the 2011 Revolution, demand for real estate has remained strong. Developers have designed more flexible and extended payment durations to support purchasers during economic uncertainty.