An estimated 50 percent of investors and 69 percent of real estate professionals expressed confidence in Egypt’s real estate market and expected growth over the upcoming year, according to a market analysis by YouGov, an internet-based market research firm, reported Daily News Egypt.
YouGov’s survey of investors and real estate professionals found 54 percent expected the real estate market to grow over the next 12 months, while 28 percent expected the growth to plateau.
The data came from 1,207 consumers, 178 real estate professionals, and 321 real estate investors, according to YouGov.
Almost 60 percent of investors said that residential real estate is the most attractive asset class if they were given a chance to invest $10 million. The second tier asset class is retail at 9 percent, and hotels also came in at 9 percent.
Investors’ clear preference for the residential sector demonstrates the immense potential in Egypt’s housing market, coupled with the demand from the country’s growing population, said Tom Rhodes, Cityscape Egypt Event Director, reported Cityscape Egypt.
Other research by property advisor Colliers emphasizes the value of creating development in Egypt.