Egypt’s real estate market in Brief
- Real estate activities have grown by 5% from fiscal year 2001/2002 to fiscal year 2002/2003, and almost by 9% in fiscal year 2003/2004.
- The private sector obtains about 96% of the Real Estate activities in Egypt.
- This boom in the Real Estate market is due to the government expansion in utility projects, like infrastructure, urban development and related activities.
When it comes to real estate brokerage activities in Egypt, it is good to know it has grown by 60% from the year 2002 to the year 2004 for several reasons:
- Consolidation of the government entities, USAID and Mortgage Finance Authority (MFA) to smooth the Real Estate transactions such as legal issues, real estate registration …etc
- Real Estate Mortgage being on the move.
- The increase in the number of real estate professionals (individuals and institutions) in Egypt.
- The establishment of professional real estate institutions (real estate banks, real estate developers…etc)
- Tremendous development projects, built to sell, stimulate more transactions.