![\"Market](\"https:\/\/www.propertyfinder.eg\/blog\/wp-content\/uploads\/2023\/06\/shutterstock_1092113771-1-800x534.jpg\")
<\/figure>\n\n\n\nHighlights<\/strong><\/h2>\n\n\n\nFind below the highlights of the market during the first quarter of 2023.<\/p>\n\n\n\n
- Egypt witnessed a rising demand for property ownership, driven by currency devaluation and construction costs.<\/li>
- The residential and mixed-use real estate sector recorded 522<\/strong> ongoing projects worth USD 309.9 billion<\/strong><\/li>
- 17 projects with a combined value of USD 1.304 billion<\/strong> were delivered in Q1 2023<\/li>
- According to Property Finder’s findings for Q1 2023.<\/li><\/ul>\n\n\n\n
Investments Inflow in Property Development.<\/strong><\/h2>\n\n\n\nThere are major investments that are taking place in the market, which reflect how the property sector is still developing. This is according to Property Finder\u2019s data; find below the detailed insights. <\/p>\n\n\n\n
- The residential and mixed-use real estate sector recorded 522<\/strong> ongoing projects worth USD 309.9 billion<\/strong>. <\/li><\/ul>\n\n\n\n
- The ongoing real estate projects in Egypt across 21<\/strong> governorates; not just that, they have reached advanced stages of development, with roughly 52%<\/strong> halfway through.<\/li><\/ul>\n\n\n\n
![\"\"](\"https:\/\/www.propertyfinder.eg\/blog\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-20-at-6.47.24-PM-800x365.png\")
<\/figure>\n\n\n\n- There are key investment destinations in the country like Cairo and Gize. Each has attracted residential real estate investments with varying percentages.
- Cairo: 59%<\/strong><\/li>
- Giza: 15%<\/strong><\/li><\/ul><\/li><\/ul>\n\n\n\n
- Q1 2023 saw eight developers starting construction on 9 projects in 4 different cities with an estimated total cost of USD 1 billion<\/strong>; it’s expected to increase to 15 projects<\/strong> in the next quarter. <\/li><\/ul>\n\n\n\n
- The majority (44%) of the new projects are located in Cairo, while Giza is home to 33%<\/strong>, mainly in New Zayed City.<\/li><\/ul>\n\n\n\n
- During Q1 2023, Egypt witnessed the delivery of 17<\/strong> projects with a combined value of USD 1,304 million<\/strong>. This represents a 31%<\/strong> increase in terms of volume and a 32% hike in value compared to Q1 2022.
Around 24%<\/strong> of these projects are located in Cairo, with New Cairo being the focal point of development; this is because it has 50%<\/strong> of the city\u2019s delivered projects and contributes an impressive 92%<\/strong> to their total value.<\/li><\/ul>\n\n\n\n- Giza Governorate is home to 18%<\/strong> of the delivered projects with a total value of USD 108.5 million<\/strong>. <\/li><\/ul>\n\n\n\n
![\"\"](\"https:\/\/www.propertyfinder.eg\/blog\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-20-at-6.51.27-PM-1-800x265.png\")
<\/figure>\n\n\n\nThe Delivered Projects by the Top Real Estate Developers in Q1 2023<\/strong><\/h3>\n\n\n\n- Palm Hills Developments (PHD): <\/strong>It’s a prominent developer who brought to the market the Palm Hills-Fera New Cairo<\/em> project at the cost of USD 640 million<\/strong>. <\/li><\/ul>\n\n\n\n
- Cairo Investment and Real Estate Development (CIRA): <\/strong>They invested approximately USD 200 million<\/strong> in the newly delivered Katameya Dunes Compound in New Cairo<\/em>.<\/li><\/ul>\n\n\n\n
- SODIC<\/strong>: The well-known developer played a significant role in Q1 2023, completing USD 44.5 million<\/strong> worth of projects in phase 2 of The Estates compound<\/em> in Sheikh Zayed City. <\/li><\/ul>\n\n\n\n
Property Ownership Is on the Rise <\/strong><\/h2>\n\n\n\nThe average asking price for apartments in Q1 2023 increased by 30%<\/strong> compared to Q1 2022, while the average asking price for villas witnessed a rise of 25%<\/strong>. <\/p>\n\n\n\nBesides, the average rental cost for both apartments and villas saw a significant surge of 24%<\/strong> compared to the corresponding period of the previous year.<\/p>\n\n\n\nHere are some reasons behind these changes in the market:<\/p>\n\n\n\n
- This increase can be attributed to the impact of the devaluation of the Egyptian pound and the prevailing high inflation rate on the construction costs in the real estate sector. <\/li><\/ul>\n\n\n\n
- Developers also experienced changes in profitability. <\/li><\/ul>\n\n\n\n
- Also, the rush of buyers to buy properties in an attempt to avoid being negatively affected by the drop in value of the local currency against the dollar.<\/li><\/ul>\n\n\n\n
![\"\"](\"https:\/\/www.propertyfinder.eg\/blog\/wp-content\/uploads\/2023\/06\/shutterstock_1570000870-1-800x534.jpg\")
<\/figure>\n\n\n\nHigh-in-Demand Areas for Rent and Sale<\/strong><\/h2>\n\n\n\nThe following table includes the top options for owning or renting an apartment or villa in Egypt.<\/p>\n\n\n\nApartments for Rent<\/strong><\/td>Villas for Rent<\/strong><\/td>Apartments for Sale <\/strong><\/td>Villas for Sale<\/strong><\/td><\/tr>New Cairo City<\/td> 6 of October City<\/td> New Cairo City<\/td> 6 of October City<\/td><\/tr> 6 of October City<\/td> Hay El Maadi<\/td> 6 of October City<\/td> Hurghada<\/td><\/tr> Hay El Maadi<\/td> Madinaty<\/td> Hay El Maadi<\/td> Madinaty<\/td><\/tr> Madinaty<\/td> Mokattam<\/td> Hay Sharq<\/td> New Cairo City<\/td><\/tr> Nasr City<\/td> New Cairo City<\/td> Nasr City<\/td> New Capital City<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nProperty Sale Prices in Egypt<\/strong><\/h2>\n\n\n\nThe table below shows the average asking prices for apartments in Egypt in Q1, 2023:<\/p>\n\n\n\nAreas<\/strong><\/td>One Bedroom<\/strong><\/td>Two Bedrooms<\/strong><\/td>Three Bedrooms<\/strong><\/td><\/tr>New Cairo City<\/td> EGP 1,950,000<\/strong><\/td>EGP 2,450,000<\/strong><\/td>EGP 3,000,000<\/strong><\/td><\/tr>6th of October City<\/td> EGP 1,050,000<\/strong><\/td>EGP 1,320,000<\/strong><\/td>EGP 2,000,000<\/strong><\/td><\/tr>Hay El Maadi<\/td> EGP 792,000<\/strong><\/td>EGP 1,700,000<\/strong><\/td>EGP 3,087,500<\/strong><\/td><\/tr>Hay Sharq<\/td> EGP 1,435,000<\/strong><\/td>EGP 1,700,000<\/strong><\/td>EGP 3,250,000<\/strong><\/td><\/tr>Nasr City<\/td> EGP 1,040,000<\/strong><\/td>EGP 1,200,000<\/strong><\/td>EGP 1,950,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nVillas<\/strong><\/p>\n\n\n\nThe table below shows the average asking prices for villas in Egypt in Q1, 2023:<\/p>\n\n\n\nAreas<\/strong><\/td>Three Bedroom<\/strong><\/td>Four Bedrooms<\/strong><\/td>Five Bedrooms<\/strong><\/td><\/tr>6th of October City<\/td> EGP 5,554,500<\/strong><\/td>EGP 7,800,000<\/strong><\/td>EGP 10,500,000<\/strong><\/td><\/tr>Hurghada<\/td> EGP 7,000,000<\/strong><\/td>EGP 11,000,000<\/strong><\/td>EGP 11,730,000<\/strong><\/td><\/tr>Madinaty<\/td> EGP 8,000,000<\/strong><\/td>EGP 13,000,000<\/strong><\/td>EGP 18,750,000<\/strong><\/td><\/tr>New Cairo City<\/td> EGP 8,000,000<\/strong><\/td>EGP 10,000,000<\/strong><\/td>EGP 13,500,000<\/strong><\/td><\/tr>New Capital City<\/td> EGP 6,000,000<\/strong><\/td>EGP 9,500,000<\/strong><\/td>EGP 12,500,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nProperty Rental Prices in Egypt<\/strong><\/h2>\n\n\n\nThe table below shows the average rental prices for apartments in Egypt in Q1 2023:<\/p>\n\n\n\nAreas<\/strong><\/td>One Bedroom<\/strong><\/td>Two Bedrooms<\/strong><\/td>Three Bedrooms<\/strong><\/td><\/tr>New Cairo City<\/td> EGP 11,000<\/strong><\/td>EGP 13,000<\/strong><\/td>EGP 16,000<\/strong><\/td><\/tr>6 of October City<\/td> EGP 8,000<\/strong><\/td>EGP 9,000<\/strong><\/td>EGP 12,500<\/strong><\/td><\/tr>Hay El Maadi<\/td> EGP 6,500<\/strong><\/td>EGP 10,000<\/strong><\/td>EGP 13,000<\/strong><\/td><\/tr>Madinaty<\/td> EGP 9,000<\/strong><\/td>EGP 11,000<\/strong><\/td>EGP 14,000<\/strong><\/td><\/tr>Nasr City<\/td> EGP 6,500<\/strong><\/td>EGP 7,000<\/strong><\/td>EGP 12,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nThe table below shows the average rental prices for villas in Egypt in Q1 2023:<\/p>\n\n\n\nAreas<\/strong><\/td>
Investments Inflow in Property Development.<\/strong><\/h2>\n\n\n\nThere are major investments that are taking place in the market, which reflect how the property sector is still developing. This is according to Property Finder\u2019s data; find below the detailed insights. <\/p>\n\n\n\n
- The residential and mixed-use real estate sector recorded 522<\/strong> ongoing projects worth USD 309.9 billion<\/strong>. <\/li><\/ul>\n\n\n\n
- The ongoing real estate projects in Egypt across 21<\/strong> governorates; not just that, they have reached advanced stages of development, with roughly 52%<\/strong> halfway through.<\/li><\/ul>\n\n\n\n<\/figure>\n\n\n\n
- There are key investment destinations in the country like Cairo and Gize. Each has attracted residential real estate investments with varying percentages.
- Cairo: 59%<\/strong><\/li>
- Giza: 15%<\/strong><\/li><\/ul><\/li><\/ul>\n\n\n\n
- Q1 2023 saw eight developers starting construction on 9 projects in 4 different cities with an estimated total cost of USD 1 billion<\/strong>; it’s expected to increase to 15 projects<\/strong> in the next quarter. <\/li><\/ul>\n\n\n\n
- The majority (44%) of the new projects are located in Cairo, while Giza is home to 33%<\/strong>, mainly in New Zayed City.<\/li><\/ul>\n\n\n\n
- During Q1 2023, Egypt witnessed the delivery of 17<\/strong> projects with a combined value of USD 1,304 million<\/strong>. This represents a 31%<\/strong> increase in terms of volume and a 32% hike in value compared to Q1 2022.
Around 24%<\/strong> of these projects are located in Cairo, with New Cairo being the focal point of development; this is because it has 50%<\/strong> of the city\u2019s delivered projects and contributes an impressive 92%<\/strong> to their total value.<\/li><\/ul>\n\n\n\n- Giza Governorate is home to 18%<\/strong> of the delivered projects with a total value of USD 108.5 million<\/strong>. <\/li><\/ul>\n\n\n\n<\/figure>\n\n\n\n
The Delivered Projects by the Top Real Estate Developers in Q1 2023<\/strong><\/h3>\n\n\n\n- Palm Hills Developments (PHD): <\/strong>It’s a prominent developer who brought to the market the Palm Hills-Fera New Cairo<\/em> project at the cost of USD 640 million<\/strong>. <\/li><\/ul>\n\n\n\n
- Cairo Investment and Real Estate Development (CIRA): <\/strong>They invested approximately USD 200 million<\/strong> in the newly delivered Katameya Dunes Compound in New Cairo<\/em>.<\/li><\/ul>\n\n\n\n
- SODIC<\/strong>: The well-known developer played a significant role in Q1 2023, completing USD 44.5 million<\/strong> worth of projects in phase 2 of The Estates compound<\/em> in Sheikh Zayed City. <\/li><\/ul>\n\n\n\n
Property Ownership Is on the Rise <\/strong><\/h2>\n\n\n\nThe average asking price for apartments in Q1 2023 increased by 30%<\/strong> compared to Q1 2022, while the average asking price for villas witnessed a rise of 25%<\/strong>. <\/p>\n\n\n\nBesides, the average rental cost for both apartments and villas saw a significant surge of 24%<\/strong> compared to the corresponding period of the previous year.<\/p>\n\n\n\nHere are some reasons behind these changes in the market:<\/p>\n\n\n\n
- This increase can be attributed to the impact of the devaluation of the Egyptian pound and the prevailing high inflation rate on the construction costs in the real estate sector. <\/li><\/ul>\n\n\n\n
- Developers also experienced changes in profitability. <\/li><\/ul>\n\n\n\n
- Also, the rush of buyers to buy properties in an attempt to avoid being negatively affected by the drop in value of the local currency against the dollar.<\/li><\/ul>\n\n\n\n<\/figure>\n\n\n\n
High-in-Demand Areas for Rent and Sale<\/strong><\/h2>\n\n\n\nThe following table includes the top options for owning or renting an apartment or villa in Egypt.<\/p>\n\n\n\nApartments for Rent<\/strong><\/td>Villas for Rent<\/strong><\/td>Apartments for Sale <\/strong><\/td>Villas for Sale<\/strong><\/td><\/tr>New Cairo City<\/td> 6 of October City<\/td> New Cairo City<\/td> 6 of October City<\/td><\/tr> 6 of October City<\/td> Hay El Maadi<\/td> 6 of October City<\/td> Hurghada<\/td><\/tr> Hay El Maadi<\/td> Madinaty<\/td> Hay El Maadi<\/td> Madinaty<\/td><\/tr> Madinaty<\/td> Mokattam<\/td> Hay Sharq<\/td> New Cairo City<\/td><\/tr> Nasr City<\/td> New Cairo City<\/td> Nasr City<\/td> New Capital City<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nProperty Sale Prices in Egypt<\/strong><\/h2>\n\n\n\nThe table below shows the average asking prices for apartments in Egypt in Q1, 2023:<\/p>\n\n\n\nAreas<\/strong><\/td>One Bedroom<\/strong><\/td>Two Bedrooms<\/strong><\/td>Three Bedrooms<\/strong><\/td><\/tr>New Cairo City<\/td> EGP 1,950,000<\/strong><\/td>EGP 2,450,000<\/strong><\/td>EGP 3,000,000<\/strong><\/td><\/tr>6th of October City<\/td> EGP 1,050,000<\/strong><\/td>EGP 1,320,000<\/strong><\/td>EGP 2,000,000<\/strong><\/td><\/tr>Hay El Maadi<\/td> EGP 792,000<\/strong><\/td>EGP 1,700,000<\/strong><\/td>EGP 3,087,500<\/strong><\/td><\/tr>Hay Sharq<\/td> EGP 1,435,000<\/strong><\/td>EGP 1,700,000<\/strong><\/td>EGP 3,250,000<\/strong><\/td><\/tr>Nasr City<\/td> EGP 1,040,000<\/strong><\/td>EGP 1,200,000<\/strong><\/td>EGP 1,950,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nVillas<\/strong><\/p>\n\n\n\nThe table below shows the average asking prices for villas in Egypt in Q1, 2023:<\/p>\n\n\n\nAreas<\/strong><\/td>Three Bedroom<\/strong><\/td>Four Bedrooms<\/strong><\/td>Five Bedrooms<\/strong><\/td><\/tr>6th of October City<\/td> EGP 5,554,500<\/strong><\/td>EGP 7,800,000<\/strong><\/td>EGP 10,500,000<\/strong><\/td><\/tr>Hurghada<\/td> EGP 7,000,000<\/strong><\/td>EGP 11,000,000<\/strong><\/td>EGP 11,730,000<\/strong><\/td><\/tr>Madinaty<\/td> EGP 8,000,000<\/strong><\/td>EGP 13,000,000<\/strong><\/td>EGP 18,750,000<\/strong><\/td><\/tr>New Cairo City<\/td> EGP 8,000,000<\/strong><\/td>EGP 10,000,000<\/strong><\/td>EGP 13,500,000<\/strong><\/td><\/tr>New Capital City<\/td> EGP 6,000,000<\/strong><\/td>EGP 9,500,000<\/strong><\/td>EGP 12,500,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nProperty Rental Prices in Egypt<\/strong><\/h2>\n\n\n\nThe table below shows the average rental prices for apartments in Egypt in Q1 2023:<\/p>\n\n\n\nAreas<\/strong><\/td>One Bedroom<\/strong><\/td>Two Bedrooms<\/strong><\/td>Three Bedrooms<\/strong><\/td><\/tr>New Cairo City<\/td> EGP 11,000<\/strong><\/td>EGP 13,000<\/strong><\/td>EGP 16,000<\/strong><\/td><\/tr>6 of October City<\/td> EGP 8,000<\/strong><\/td>EGP 9,000<\/strong><\/td>EGP 12,500<\/strong><\/td><\/tr>Hay El Maadi<\/td> EGP 6,500<\/strong><\/td>EGP 10,000<\/strong><\/td>EGP 13,000<\/strong><\/td><\/tr>Madinaty<\/td> EGP 9,000<\/strong><\/td>EGP 11,000<\/strong><\/td>EGP 14,000<\/strong><\/td><\/tr>Nasr City<\/td> EGP 6,500<\/strong><\/td>EGP 7,000<\/strong><\/td>EGP 12,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nThe table below shows the average rental prices for villas in Egypt in Q1 2023:<\/p>\n\n\n\nAreas<\/strong><\/td>
- The ongoing real estate projects in Egypt across 21<\/strong> governorates; not just that, they have reached advanced stages of development, with roughly 52%<\/strong> halfway through.<\/li><\/ul>\n\n\n\n<\/figure>\n\n\n\n
- There are key investment destinations in the country like Cairo and Gize. Each has attracted residential real estate investments with varying percentages.
- Cairo: 59%<\/strong><\/li>
- Giza: 15%<\/strong><\/li><\/ul><\/li><\/ul>\n\n\n\n
- Q1 2023 saw eight developers starting construction on 9 projects in 4 different cities with an estimated total cost of USD 1 billion<\/strong>; it’s expected to increase to 15 projects<\/strong> in the next quarter. <\/li><\/ul>\n\n\n\n
- The majority (44%) of the new projects are located in Cairo, while Giza is home to 33%<\/strong>, mainly in New Zayed City.<\/li><\/ul>\n\n\n\n
- During Q1 2023, Egypt witnessed the delivery of 17<\/strong> projects with a combined value of USD 1,304 million<\/strong>. This represents a 31%<\/strong> increase in terms of volume and a 32% hike in value compared to Q1 2022.
Around 24%<\/strong> of these projects are located in Cairo, with New Cairo being the focal point of development; this is because it has 50%<\/strong> of the city\u2019s delivered projects and contributes an impressive 92%<\/strong> to their total value.<\/li><\/ul>\n\n\n\n- Giza Governorate is home to 18%<\/strong> of the delivered projects with a total value of USD 108.5 million<\/strong>. <\/li><\/ul>\n\n\n\n<\/figure>\n\n\n\n
The Delivered Projects by the Top Real Estate Developers in Q1 2023<\/strong><\/h3>\n\n\n\n
- Palm Hills Developments (PHD): <\/strong>It’s a prominent developer who brought to the market the Palm Hills-Fera New Cairo<\/em> project at the cost of USD 640 million<\/strong>. <\/li><\/ul>\n\n\n\n
- Cairo Investment and Real Estate Development (CIRA): <\/strong>They invested approximately USD 200 million<\/strong> in the newly delivered Katameya Dunes Compound in New Cairo<\/em>.<\/li><\/ul>\n\n\n\n
- SODIC<\/strong>: The well-known developer played a significant role in Q1 2023, completing USD 44.5 million<\/strong> worth of projects in phase 2 of The Estates compound<\/em> in Sheikh Zayed City. <\/li><\/ul>\n\n\n\n
Property Ownership Is on the Rise <\/strong><\/h2>\n\n\n\n
The average asking price for apartments in Q1 2023 increased by 30%<\/strong> compared to Q1 2022, while the average asking price for villas witnessed a rise of 25%<\/strong>. <\/p>\n\n\n\n
Besides, the average rental cost for both apartments and villas saw a significant surge of 24%<\/strong> compared to the corresponding period of the previous year.<\/p>\n\n\n\n
Here are some reasons behind these changes in the market:<\/p>\n\n\n\n
- This increase can be attributed to the impact of the devaluation of the Egyptian pound and the prevailing high inflation rate on the construction costs in the real estate sector. <\/li><\/ul>\n\n\n\n
- Developers also experienced changes in profitability. <\/li><\/ul>\n\n\n\n
- Also, the rush of buyers to buy properties in an attempt to avoid being negatively affected by the drop in value of the local currency against the dollar.<\/li><\/ul>\n\n\n\n<\/figure>\n\n\n\n
High-in-Demand Areas for Rent and Sale<\/strong><\/h2>\n\n\n\n
The following table includes the top options for owning or renting an apartment or villa in Egypt.<\/p>\n\n\n\n
Apartments for Rent<\/strong><\/td> Villas for Rent<\/strong><\/td> Apartments for Sale <\/strong><\/td> Villas for Sale<\/strong><\/td><\/tr> New Cairo City<\/td> 6 of October City<\/td> New Cairo City<\/td> 6 of October City<\/td><\/tr> 6 of October City<\/td> Hay El Maadi<\/td> 6 of October City<\/td> Hurghada<\/td><\/tr> Hay El Maadi<\/td> Madinaty<\/td> Hay El Maadi<\/td> Madinaty<\/td><\/tr> Madinaty<\/td> Mokattam<\/td> Hay Sharq<\/td> New Cairo City<\/td><\/tr> Nasr City<\/td> New Cairo City<\/td> Nasr City<\/td> New Capital City<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Property Sale Prices in Egypt<\/strong><\/h2>\n\n\n\n
The table below shows the average asking prices for apartments in Egypt in Q1, 2023:<\/p>\n\n\n\n
Areas<\/strong><\/td> One Bedroom<\/strong><\/td> Two Bedrooms<\/strong><\/td> Three Bedrooms<\/strong><\/td><\/tr> New Cairo City<\/td> EGP 1,950,000<\/strong><\/td> EGP 2,450,000<\/strong><\/td> EGP 3,000,000<\/strong><\/td><\/tr> 6th of October City<\/td> EGP 1,050,000<\/strong><\/td> EGP 1,320,000<\/strong><\/td> EGP 2,000,000<\/strong><\/td><\/tr> Hay El Maadi<\/td> EGP 792,000<\/strong><\/td> EGP 1,700,000<\/strong><\/td> EGP 3,087,500<\/strong><\/td><\/tr> Hay Sharq<\/td> EGP 1,435,000<\/strong><\/td> EGP 1,700,000<\/strong><\/td> EGP 3,250,000<\/strong><\/td><\/tr> Nasr City<\/td> EGP 1,040,000<\/strong><\/td> EGP 1,200,000<\/strong><\/td> EGP 1,950,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Villas<\/strong><\/p>\n\n\n\n
The table below shows the average asking prices for villas in Egypt in Q1, 2023:<\/p>\n\n\n\n
Areas<\/strong><\/td> Three Bedroom<\/strong><\/td> Four Bedrooms<\/strong><\/td> Five Bedrooms<\/strong><\/td><\/tr> 6th of October City<\/td> EGP 5,554,500<\/strong><\/td> EGP 7,800,000<\/strong><\/td> EGP 10,500,000<\/strong><\/td><\/tr> Hurghada<\/td> EGP 7,000,000<\/strong><\/td> EGP 11,000,000<\/strong><\/td> EGP 11,730,000<\/strong><\/td><\/tr> Madinaty<\/td> EGP 8,000,000<\/strong><\/td> EGP 13,000,000<\/strong><\/td> EGP 18,750,000<\/strong><\/td><\/tr> New Cairo City<\/td> EGP 8,000,000<\/strong><\/td> EGP 10,000,000<\/strong><\/td> EGP 13,500,000<\/strong><\/td><\/tr> New Capital City<\/td> EGP 6,000,000<\/strong><\/td> EGP 9,500,000<\/strong><\/td> EGP 12,500,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Property Rental Prices in Egypt<\/strong><\/h2>\n\n\n\n
The table below shows the average rental prices for apartments in Egypt in Q1 2023:<\/p>\n\n\n\n
Areas<\/strong><\/td> One Bedroom<\/strong><\/td> Two Bedrooms<\/strong><\/td> Three Bedrooms<\/strong><\/td><\/tr> New Cairo City<\/td> EGP 11,000<\/strong><\/td> EGP 13,000<\/strong><\/td> EGP 16,000<\/strong><\/td><\/tr> 6 of October City<\/td> EGP 8,000<\/strong><\/td> EGP 9,000<\/strong><\/td> EGP 12,500<\/strong><\/td><\/tr> Hay El Maadi<\/td> EGP 6,500<\/strong><\/td> EGP 10,000<\/strong><\/td> EGP 13,000<\/strong><\/td><\/tr> Madinaty<\/td> EGP 9,000<\/strong><\/td> EGP 11,000<\/strong><\/td> EGP 14,000<\/strong><\/td><\/tr> Nasr City<\/td> EGP 6,500<\/strong><\/td> EGP 7,000<\/strong><\/td> EGP 12,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n The table below shows the average rental prices for villas in Egypt in Q1 2023:<\/p>\n\n\n\n
Areas<\/strong><\/td>
- Also, the rush of buyers to buy properties in an attempt to avoid being negatively affected by the drop in value of the local currency against the dollar.<\/li><\/ul>\n\n\n\n
- Developers also experienced changes in profitability. <\/li><\/ul>\n\n\n\n
- This increase can be attributed to the impact of the devaluation of the Egyptian pound and the prevailing high inflation rate on the construction costs in the real estate sector. <\/li><\/ul>\n\n\n\n
- SODIC<\/strong>: The well-known developer played a significant role in Q1 2023, completing USD 44.5 million<\/strong> worth of projects in phase 2 of The Estates compound<\/em> in Sheikh Zayed City. <\/li><\/ul>\n\n\n\n
- Cairo Investment and Real Estate Development (CIRA): <\/strong>They invested approximately USD 200 million<\/strong> in the newly delivered Katameya Dunes Compound in New Cairo<\/em>.<\/li><\/ul>\n\n\n\n
- Palm Hills Developments (PHD): <\/strong>It’s a prominent developer who brought to the market the Palm Hills-Fera New Cairo<\/em> project at the cost of USD 640 million<\/strong>. <\/li><\/ul>\n\n\n\n
- Giza Governorate is home to 18%<\/strong> of the delivered projects with a total value of USD 108.5 million<\/strong>. <\/li><\/ul>\n\n\n\n
- During Q1 2023, Egypt witnessed the delivery of 17<\/strong> projects with a combined value of USD 1,304 million<\/strong>. This represents a 31%<\/strong> increase in terms of volume and a 32% hike in value compared to Q1 2022.
- The majority (44%) of the new projects are located in Cairo, while Giza is home to 33%<\/strong>, mainly in New Zayed City.<\/li><\/ul>\n\n\n\n
- Giza: 15%<\/strong><\/li><\/ul><\/li><\/ul>\n\n\n\n
- Cairo: 59%<\/strong><\/li>
- There are key investment destinations in the country like Cairo and Gize. Each has attracted residential real estate investments with varying percentages.