Real estate consultant, JLL, reveals in its latest report that a period of increased stability in 2018 has seen a positive impact across Cairo’s real estate markets.
The majority of sectors have bounced back from effects of the currency devaluation and a number of new regulatory changes which have led to increased residential sales prices, new project launches and further investment in the hotel and tourism sector, says JLL.
“There has been increased positive sentiment in what has become a more stable real estate market this quarter, further boosted by the government's continued focus on increasing foreign direct investment and implementing further social reforms,” says Ayman Sami, Country Head, Egypt, JLL.
The residential sector in particular – says JLL – has benefited as sale prices have continued to increase resulting in several new projects being launched in Q1, the majority being to the east of the city. In addition, developers continue to report strong sales activity and the increased competition across many sectors of the residential market – a positive factor with no indications of oversupply developing.
JLL maintains that positive sentiment remains across the hotel and tourism sector,