Top 10 most expensive cities in Cairo

The prices of the housing units in Greater Cairo cities have recently recorded a dramatic rise, an Egyptian recent property report showed.

New cities have topped the list of the most expensive housing units in Cairo, where the prices of compounds and resorts there have broken a record.

Topping the list, the cost per metre for residential units located in the First, Second, Third, Fourth, Fifth Settlement areas in New Cairo ranged between 7,000-15,000 Egyptian pounds (US$871.51-1,867.53).

Another new city whose prices broke a record was Sheikh Zayed City, located 38 kilometres (23.6 miles) in the northwest of Cairo downtown, where the residential units cost 6,000-10,000 pounds per metre.

Additionally, Sixth of October City, 32 km (19.8 miles) from downtown Cairo, has become in the list of the highest cost of living in Cairo cities. In the Sixth of October City, the cost of per metre for residential units, complexes, and compounds there varies between 6,000-14,000 pounds.

Old is Still Gold

Meanwhile, old classic cities in Cairo such as Garden City, featuring panoramic views of the Nile, are still on the top of the list of the most expensive areas to buy housing, administrative, or commercial units.

In Garden City, it is very rare to find an apartment for sale due to the sharp rise in prices which amount to 14,600 pounds per metre; whilst renting housing or an administrative unit there would cost between 3,000-8,000 pounds.

On the east bank of the Nile about 12 kilometres (7.4 miles) upriver from downtown Cairo lies Maadi district alongside its branches Zahraa Maadi City and New Maadi, where house prices range between 4,000-8,000 pounds per metre.

For Cairo’s Downtown area, buying a store could cost much due to the decline in the number of flats and administrative units put up for sale.

Other old yet classic and highly expensive Cairo districts to live in are Dokki and Mohandessin neighbourhoods, where the cost per metre for housing units varies between 5,000-10,000 pounds.

The Highly Desirable

The study also demonstrated the most demanded areas to live in, showing that New Cairo district comes on the top, followed by Sixth of October City, Nasr City, Sheikh Zayed City, Heliopolis, Maadi, and Al Shorouk City, which locates in the northeast of Cairo and at the north of New Cairo.

According the study, 75.3 percent of the buyers prefer new cities whilst 25 percent like to live in Downtown.