The real estate sector has been on the rise since the announcement of 4th gen cities, but the whole economy was shaken by the pandemic and the Covid-19. That didn’t stop the real estate sector from returning profit to investors by a growth of 8% in the 2021 year considering current circumstances.
The Egyptian real estate market has been very stable in the recovery from covid-19(corona virus). This may be a result of the actions taken by the government and the CBE(Central Bank of Egypt).
Government issues new rules & regulation that will affect the entire market.Firstly, not to announce any project or market it until it reached 30% completion in order to ensure companies are able to finance their project and provide proof for potential client on the delivery date.As well as, lenient payment plans with installment reaching 30 years.
The CBE has initiated 100bn EGP to finance lower & middle class families to find their required housing.
The ACUD( Administrative capital for urban development) which is responsible for the new city which is causing a boom is the real estate market in egypt “New capital” to ban companies from marketing their projects until 30% is reached and even backing up developers financially to ensure clients are profitable no matter what project they choose and that delivery date is meet up with.
These laws have resulted in an outstanding growth in the market of 8% and is predicted to grow even more specially since the covid-19 outbreak is under control and the economy is stable which is already starting to happen.