At the end of the third quarter, rental rates increased by 22% per year in West Cairo and by 22% in New Cairo. Will this trend continue next year?

The most important numbers:

In the first 9 months of 2023, housing prices have already doubled. In early November, experts began to say that by the beginning of 2024, real estate prices would rise by another 30%.

The north coast, the most attractive coastal tourist destination, was in the highest demand this year.

West Cairo turned out to be cheaper than East Cairo: house prices are rising by 85% per year, and at least another 40% is expected in 2024 due to rising prices for building materials and a falling currency.

The investment "rising star" is New Cairo (the New administrative capital). It is most profitable to invest in commercial real estate here; many have fixed returns of up to 22%.

Important! The price dynamics are indicated in Egyptian pounds, and the local currency exchange rate is unstable.

Check out the real estate projects in Egypt from VelesClub Int.