Salma Elogil explains the position of real estate prices in Egypt

Salma Elogil, a real estate expert, explains that the prices of strategic goods have increased significantly during the last period, and the prices of cars and others have also increased, due to the economic pressures that the world has been exposed to in general, and Egypt in particular due to the wars that occur throughout the region, which directly affected the strength of the economy. And also among the series of price increases, the real estate market had a share of these increases, but after the economic amendments approved by the Egyptian state after the increase in dollar flows and the increase in investments since last February, followed by a decision to liberalize the currency exchange rate, through which it led to the elimination of the parallel market. Completely, but after these economic adjustments that occurred, will the real estate market price in Egypt stabilize or continue to rise?


In this regard, Salma Elogil, a real estate expert, expressed that after the recent economic improvements in addition to the stability of the currency exchange rate, it led to a decline in most of the goods that are linked to the exchange rate, and even most of the prices and goods that used to be overpriced are no longer present in a large way as was the case during the past period. .


Salma added that the real estate market differs from the prices of other commodities because the real estate market has different calculations, represented by the investment value and others. It is also linked to the idea of ​​not delivering the property at the same time because the property is under construction and can be delivered after two years or more, so a study is being drawn up for this period. In addition, installments can be made over eight years, and there are real estate developers who make offers to the consumer to pay the unit in installments for a period of up to 10 years, and this period may even increase.



He stated that during the coming period - there will likely be a state of price stability with the annual price increasing steadily as was the case previously, meaning that when the time for handing over the property approaches and it is ready for delivery, it is natural for its price to rise, and the price of the property may rise by a percentage ranging from 10 to 15% per year, so there is no state of panic or anxiety after the price increase that occurred over the past period