Ahmed Mansour, a member of the board of directors of the Egyptian Real Estate Development Chamber, said that real estate prices in Egypt are expected to rise by 10-20% during the current year.
And it is expected that this year will be better than last year, especially in light of the huge land purchase deals that took place at the end of last year and the beginning of this year, which indicates that companies have a positive view of the market.
He pointed out that the worrying year that may cause a rise in real estate prices is the rise in the prices of raw materials
With regard to the new rules that are expected to be applied to the real estate market, these rules are required by all companies in the market because they will control the pace of the market and if they are applied, they will positively affect them
. The real estate market is awaiting the start of implementing the controls regulating the sale of units in real estate development projects after their approval by the Council of Ministers at the end of last year.
And Mustafa Al-Jallad, a member of the Real Estate Development Chamber, added that the sector will reap its fruits from residential projects, in the current year 2022, whether at the level of national projects from fourth-generation cities or large towers.