Egypt’s property sector backed by resilient economy
The real estate market in Egypt is maintaining its position and is regarded as an attractive investment, supported by the impact of the country’s economic expansion, according to Head of Savills Egypt, Catesby Langer-Paget.
The Egyptian economic expansion is expected to moderate to nearly 4.5% between 2021 and 2022, yet starting 2023, the gross domestic product (GDP) growth is predicted to return to its pre-pandemic rates of above 5.5%.
“The decrease of interest rates in the market is positioning real estate assets as the safe haven for investments across the country, driving demand for local investors, Egyptian expatriates, as well as foreign investors,” Langer-Paget noted in a press release on Wednesday.