On the 3rd of November, Egypt’s Central Bank announced the devaluation of the Egyptian pound and a raise in interest rates. This resulted in major changes across many sectors and industries. However, as usual in these cases, the real estate industry in Egypt saw a boom in sales. As people rushed to store their money in the form of assets that only grow in value over time – properties.
Real Estate in Egypt
Real estate in Egypt has always been a buyer’s market thanks to the wide array of options available all across the country. Following the recent changes in the Egyptian currency, the prices of the properties witnessed a slight increase ranging between 7% to 22%. In general, the prices of properties in Egypt increased by an average of 11%.
From afar, this might seem like a bad thing but if you look at the glass half full, you can see that investing in real estate in Egypt can make you a millionaire without a lot of effort. How can that happen? That’s simple, if you purchase a property now in one of the high-end compounds and flip it in a couple of years (or even months), you will see a major return on investment with minimal effort.
Is now a good time to invest in real estate?
Any investment has some risk factors, but investing in real estate is considered one of the safest low-risk investments. With that in mind, this may be the perfect time to invest in real estate in Egypt as the prices are constantly increasing and property’s value will only grow over time. In other words, why leave your money in the bank to lose its value when you can invest it in a property and make more money without breaking a sweat?
Where is the best place to purchase a property?
There are many areas, where you can purchase a residential or commercial property these days and turn it for a profit later on. On top of that list, comes the New Administrative Capital, New Cairo, and 6th October. You can also get a property in one of Egypt’s premium coastal destinations; the North Coast and Ain Sokhna. All these areas feature prestigious projects developed by the leading real estate companies in the region.
Needless to say, before making this life-changing decision, you need to consider your own budget as well as the property’s type, years of installments, delivery date, and finishing status.
Visit Nawy now and get the best property to store your money value!
