Egypt home prices rise 35% in Q1 after pound float move: Aqarmap
Egyptian real estate recorded a 9 percent increase in house prices during November, following the floatation of the local currency on Nov. 3rd, according to the leading real estate portal in Egypt and Saudi Arabia, Aqarmap.com.
Speaking at Cityscape Egypt Conference on Wednesday, Amad Almsaodi, CEO of Aqarmap, said that house prices in Egypt had risen once again at the beginning of 2017 by 5 percent, to eventually reported a 35 percent increase during the first quarter of the current year.
Almsaodi further said he expected the increase would continue to reach a maximum of 50 percent.
Egypt is a great investment destination and the developers should put into consideration while carrying out their expansion schemes that the current circumstances would not dominate the market forever, Aqarmap chief executive stressed.
