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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Properties for sale in Hurghada Red Sea
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