It is no doubt that North Coast is becoming more than just a holiday destination. It has become one of the trendiest spots in Egypt in 2018 between different generations and social statuses.
This trend has resulted in an overall increase in Demand on its resorts by 170% in 2018 in comparison with the demand in 2017.
Y-O-Y Performance in North Coast (2017/2018)
Let’s break down the numbers to know more about the market in North Coast and what to expect from it whether you are looking for an investment or your next holiday home or even a place to enjoy your time for a couple of days..
Best Times for Buying Properties in North Coast 2018
While North Coast is one of the most sought after holiday destinations, it certainly has its own season.. “Summer”!
In Summer the demand on both rental and sale properties in north coast is the highest throughout the months from April to September – especially in June and July – due to its amazing weather and ongoing activities that can take place at this time of the year including concerts and water activities.
While in Winter, the demand is the lowest from the months November till February because of the exams season and cold weather.
Although most people would prefer to buy a property in North Coast in Summer, driven by the prompt delivery advantage, there are so many perks in buying a new property in Winter.
First of all, you have less buyers to compete with and that works in your favor by guaranteeing that you get the best value with the best price.
Secondly, the low demand in winter means that sellers are more willing to negotiate in order to sell. This will secure you a good bargain regarding price and payment methods. Moreover, when sales volume is low, real estate agents will give you their undivided attention and work their best to find you the best value to close the deal.
Finally, you get to judge a resort best when it is not fully accommodated as you can witness all the features and services first hand.
Best Times for Renting Properties in North Coast 2018
When it comes to rent, the months June, July and August face the highest demand with 37% of it in August.
However, it’s a well known fact that when supply is exceeding demand, without a doubt prices would get lower to balance the gap. This means that if you are willing to take a couple of days off and enjoy North Coast in the quiet, away from its peak season, you would also be enjoying it with less prices.
Top Performing Areas in North Coast 2018
When it comes to where to buy a property in North Coast, some choose the best price, some choose the best value, some go after the trend and others just trust the well-known developers.
No matter the reason behind it, this map shows you the residential compounds that were the superstars of North Coast in 2018 with the price per meter in each based on Propertyfinder.eg’s report as follows: Marassi, Amwaj, Marina, Hacienda Bay, Fouka Bay, La Vista, Golf Porto Marina, Mountain View, Bo Sands, Siela.
If you would like to know more details about those resorts and much more, you can check out The 27 Best Compounds in North Coast Egypt.
Top Performing Property Types in North Coast 2018
When it comes to the property types that are most required by buyers, we would find that Apartments win the highest share with 65.8% demand yet the demand is still higher for the apartments for rent with 5% difference between both. This is justified by the higher overall demand on rent in North Coast.
While Apartments and chalets have a variety of sizes and prices offered, it is clear that the majority seeks buying or renting apartments because of their small sizes that starts from 58 meters square only. Those property types are suitable for the younger segments of single people and small families who are most interested in a vacation in North Coast. (The Average price of Apartments for sale in North Coast is: 600,000 LE)
On the other hand, villas with their large sizes and high prices are least demanded because they are mostly suitable for large families who are not as interested in this holiday spot. (The average price of villas for sale in North Coast is: 2,000,000 LE)
Lastly, if you are seeking a property for investment or a holiday home you get to enjoy with ROI guaranteed, then North Coast is the place for you. Check out Properties for Sale in North Coast on Propertyfinder.eg and compare prices to find the best value for you.