Egyptian expats’ demand for real estate increased by 2% in March following a six-month stagnation period, Invest-Gate reports.
The rise in demand indicates that the real estate market is still in a state of anticipation amid recent economic challenges, according to a recent report released by Aqarmap, a real estate engine operating in Egypt and Saudi Arabia.
Despite decreasing local demand that as a result of increasing construction costs, upped demand has been recorded mostly among Egyptians abroad.
By purchasing properties in foreign currency, Egyptian expats can generate returns of up to 50%. Aqarmap adds that real estate prices have increased by 4.8% in March alone, recording a high increase rate in a short period of time.