With its diverse neighborhoods and dynamic real estate market, Greater Cairo is where every investment is rewarding. Ok, this might be a bit exaggerated but the city surely includes some of the best real estate investment opportunities in Egypt.
But before investing, you need some due diligence!
Understanding the trends in square meter (SQM) prices is crucial for making well-informed decisions in the ever-evolving real estate scene. In this blog, we will present you with the SQM price trends in Greater Cairo, New Cairo, and 6 October.
Whether you are a prospective buyer, investor, or simply curious about the real estate market in Greater Cairo, this analysis will provide valuable insights to guide your decisions.
This study was done over the period starting the 1st of January, 2022 till the 1st of July, 2023.
As you can see, prices per SQM in Greater Cairo witnessed a drastic increase of around 30,000 EGP.
To put that into perspective, imagine you purchased a 50-sqm apartment at the beginning of 2022 for 1 million EGP. Then thanks to the price increase, you sold it last August for 2.5 million EGP. That means your profit would have been equal to a whopping 1.5 million which is more than your initial investment.
Already on the edge of your seat? Wait till you hear about the SQM price trends in some of Greater Cairo’s top areas!
New Cairo has witnessed a surge in demand due to its modern infrastructure, luxurious compounds, and proximity to international schools, shopping malls, and business hubs.
The New Cairo market even went higher and SMQ prices exceeded the 50,000 EGP mark. However, it started from over the 20,000 EGP mark, so the overall increase is somewhat similar to that of Greater Cairo as a whole.
6th October is another area that has seen rapid development, attracting buyers with its great prices, the array of amenities, and serene living experiences.
6 October started with the highest price rates and it didn’t slow down. But even though prices per SQM are almost at the 60,000 EGP mark, the overall percentage of increase in prices was less than the one witnessed in New Cairo.
New Cairo’s price per SQM increase was 92% on the other hand 6 October saw an 82% increase.
Although the percentage increase is higher in New Cairo than in October, that’s not a direct indicator that it is a better investment opportunity. You also have to keep in mind many other factors that will affect the prices of the specific property you are investing in.
For example, the reputation of the neighborhood or the compound and the property’s type, layout, finishing status, and even designs.
It is also worth noting that in New Cairo and 6 October, the most popular types are apartments followed by villas and administrative spaces. Discover more in The Most Popular Property Types in New Cairo and 6 October
Like any investment decision, there is no cheat sheet, but with these numbers, you can make a better-informed decision and find the best investment opportunity.
Whether you are seeking a home or aiming to capitalize on the best investment opportunities, Nawy can help you out!
Simply tap the WhatsApp button and our team of professional property consultants will offer you expert advice and help you get the most suitable property.
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