World full-service research company YouGov says that appetite for properties in Egypt has grown since the EGP float, Invest-Gate reports.
Speaking during the second day of the Cityscape conference on March 30, YouGov Egypt Managing Director Yasser Omar says, “Investor confidence in Egypt’s property market has recently increased, supported by a number of factors, including the central bank’s decision to float the EGP.”
Omar adds that the flotation of the local currency has pushed up demand on buying and investing in properties, especially amid government plans to expand in new cities.
According to a study conducted by the company last year, 48% of clients have shifted towards investing in properties, considering it a “safe haven”. The study adds that about 43% of clients are confident that the property sector will continue to grow.
Property prices will definitely increase, the report also says, expecting a 6% price hike in upcoming months.