As 2017 is drawing to a close, Invest-Gate surveys a number of brokerage companies and platforms to learn more about the the highest yields areas this year, as well as, the highest yields compounds.
Leading brokerage company Coldwell Banker’s highest yields area “in 2017 was the 5th Settlement, constituting 52% of its sales,” Vice President of Coldwell Banker and Coldwell Banker New Homes Mohamed Banany tells Invest-Gate.
Coldwell Banker’s second highest yields areas were west of Cairo’s 6th of October and Sheikh Zayed, according to Banany, contributing to 19% of their sales.
The company’s North Coast sales more than doubled in 2017 to reach 15%, up from 7% last year, Banany elaborates. Similarly, Coldwell Banker’s sales in Ain Sokhna in 2017 increased to 11% from 4% in the previous year.
“A total of 51% of properties sold by Coldwell Banker were apartments,” Banany reveals.
Similarly, BYC consultancy and brokerage firm’s highest yields area was east of Cairo, “mainly the 5th Settlement, making up 50% of its sales,” BYC’s Founder Karim Ghoneim tells Invest-Gate.
He adds that Palm Hills New Cairo, Emaar Misr’s Mivida, and Misr Italia Properties’ IL Bosco-New Capital are the highest yields projects east of Cairo.
“Sheikh Zayed and 6th of October constituted 20% of our sales with the top selling projects being Inertia’s Joulz compound,” Ghoneim states. BYC’s sales in the North Coast comprised 20% while Ain Sokhna contributed to 10% of their sales.
Ghoneim also reveals that 85% of sold units were in gated communities and 15% of sold units were in non-gated communities.
“Our work mainly involves residential units, but we entered the commercial real estate market as of July 2017,” Ghoneim reveals, adding that those five months of handling commercial properties contributed to 20% of BYC’s sales in 2017 while residential properties made up 80% of their sales. The company’s highest yields commercial project was Linx Business Park in Smart Village, west of Cairo.
Meanwhile, Ahmed Amin, CEO of Property Advisors, a brokerage company that works primarily with A-class compounds and residential units, tells Invest-Gate that his company’s highest yields areas in 2017 were in west of Cairo, namely 6th of October and Sheikh Zayed, deriving 40% of their sales.
He adds, “The highest number of properties sold in residential communities west of Cairo were in Palm Hills October and Sixth of October Development & Investment (SODIC) development.”
Palm Hills New Cairo, Mivida, and SODIC’s Eastown residential communities were Property Advisors’ highest selling compounds in New Cairo, according to Amin, who claims, “30% of his sales in 2017 were derived from properties in New Cairo, both resales and new projects.”
Amin notes that in the past year, his company’s units sales in the North Coast were higher than that of New Cairo, “In 2017 the North Coast sales dropped to contribute to only 20% of the company’s revenues,” he states.
On the plus side, Amin says sales in Ain Sokhna grew this year, constituting 10% of his company’s sales. He describes the increase as a “solid and sizable,” adding that the majority of sales were in Tatweer Misr’s Monte IL Galala and Madaar Development’s Azha.
As opposed to Property Advisors, AFOK Real Estate Experts made its main revenues in 2017 from property sales in east of Cairo’s 5th Settlement and Al-Shorouk districts, constituting 85% of their sales, the company’s cofounder, Tareq Haggag, tells Invest-Gate.
Haggag, whose company caters to the A-, B-, and upper C-classes, adds that projects by Sabbour Consulting Company and Palm Hills Developments constituted his company’s highest yields compounds in 5th Settlement district.
“In Shorouk City, Talaat Moustafa Group’s (TMG Holding) Mayfair compound derived our main resale units, while La Vista Developments’ Al-Patio compound constituted our main new units’ sales,” he elaborates.
The remaining 15%of AFOK’s sales this year, according to Haggag, were derived from properties in the North Coast and Ain Sokhna. The highest yields compounds in the North Coast were Palm Hills Development’s Hacienda Bay and Mountain View’s Ras El Hikma, while in Sokhna, La Vista and IL Monte Galala made most sales.”
While brokerage companies are a valuable source for sales figures, not everyone seeks agents to buy their properties. Third-party tools, such as online brokerage platforms, are used by many to find their new homes. These platforms often do not have access to some information such as how many of the listed properties were sold. However, these platforms collect information on users’ behavior that could still indicate highest yields areas. Such platform is OLX, a leading classifieds platform in the country.
From January to June 2017, Nasr City, Pyramids Gardens, and Maadi were the top areas in terms of “Property For Sale” listings on the platform followed by “Heliopolis, North Coast, Faisal, Al Mokattam, Al Obour, Al Zaytoun, and 5th Settlement,” OLX’s General Manager Momtaz Moussa tells Invest-Gate.
The top keywords searched in the property section were, according to Moussa, old rent, house for sale, apartment for sale followed by Maadi, Sheikh Zayed, Al Obour, Nasr City, 6th of October, 5th Settlement, and Heliopolis.
In the same time period, the “Property for Rent,” section received the highest listings in the North Coast and Nasr City areas followed by Maadi, Heliopolis, Al Haram, Marina, Sheikh Zayed, Al Rehab and Fifth settlement, Moussa adds.