Egypt's Real Estate Sector

An overview of the real estate market in Egypt, highlighting its trends, developments, and key players shaping the sector's growth and dynamics.

Notes: Data shown is using current exchange rates. Data shown reflects market impacts of Russia-Ukraine war.

Most recent update: Apr 2023

Source: Statista Market Insights

Highlights:

• The Egypt real estate market is forecasted to achieve a value of US$1.45 trillion by 2024.
• Residential real estate is poised to lead the market, reaching an estimated volume of US$1.08 trillion by 2024.
• Anticipated annual growth (CAGR 2024-2028) stands at 8.91%, projecting a market volume of US$2.04 trillion by 2028.
• China is expected to lead globally, with a projected value of US$135.70 trillion in the real estate market by 2024.
• Egypt's real estate sector is witnessing increased demand due to stable economic growth and government initiatives, attracting foreign investors.

Value Split:

Volume:

Analyst Opinion

The Egyptian real estate market has seen notable advancements lately, with a shift in customer preferences towards modern and upscale properties. This trend is fueled by a growing middle class and higher disposable incomes, resulting in increased demand for luxury housing and integrated communities. Additionally, there's a rising focus on sustainable and eco-friendly developments, driven by awareness of environmental conservation. This includes incorporating green building practices to reduce energy consumption. Real estate investment is also gaining popularity, supported by government reforms and incentives to attract both local and foreign investors. Egypt's strategic location, cultural heritage, and tourism industry contribute to its real estate growth, with demand for vacation homes and rental properties in key tourist areas. Infrastructure development, population growth, urbanization, and economic stability are underlying factors propelling the market's growth. Overall, Egypt's real estate sector is poised for continued expansion, supported by government initiatives and favorable economic conditions.

Transaction Value

Notes: Please note that this chart only covers residential real estate sales. Data shown is using current exchange rates. Data shown reflects market impacts of Russia-Ukraine war.

Most recent update: Apr 2023

Source: Statista Market Insights

Methodology

Data coverage:

The figures provided are derived from various metrics such as the value of residential and commercial real estate, average real estate value, residential estate transactions, and lease data.

Modeling approach / Market size:

Market sizes are assessed through a comprehensive methodology combining both Top-Down and Bottom-Up approaches, tailored to each market segment. This involves utilizing data from global organizations and industry associations. Key market indicators and country-specific data, including GDP, price level index, household wealth, and housing consumer spending per capita, are then analyzed to estimate market sizes for individual countries.

Forecasts:

In our forecasting methodology, we employ various techniques chosen based on the characteristics of each market. One such technique is exponential trend smoothing, tailored to the market's behavior. Key drivers considered include GDP per capita, population dynamics, the number of renter and owner households, price level index, and housing consumer spending per capita.

Additional Notes:

The market undergoes biannual updates to account for any shifts in market dynamics. Specifically, the impacts of the Russia-Ukraine conflict are assessed on a country-specific basis, ensuring comprehensive consideration of geopolitical factors affecting the real estate landscape.

Source: statista‍