Investing in Egypt’s real estate market has been known as a “foolproof” way to gain rewarding financial returns. Invest-Gate speaks to a number of real estate marketeers to present its female readers with advice on investing in the market.
“I would tell [those who did not invest in real estate yet] to start now as it is the best investment opportunity with low risk and minimal effort,” Fawkia El Awadi, group director of Marketing and Communications at Catalyst Developments tells Invest-Gate.
She adds that first-time home investors should not blindly follow anyone, instead, they should do their own research to find what is suitable for them, according to their set budget and needs.
“They should choose a service provider who creates fully-integrated projects, and focuses on after-sales services,” El Awadi says.
She further recommends taking the risk to new profitable frontiers such as offices, clinics, and retail spaces, citing their higher return on investments and easier resale, compared to other properties.
“In brief, all you have to do is choose the right developer, the right project, and the right budget for you, and thoroughly research the project,” El Awadi concludes.
A trusted developer and a wise unit choice are Nellie Nour El Din’s, marketing manager at Capital Developments, main advice.
“Try to go for smaller units that are in high demand and can be sold easily,” she says, adding that investing in real estate does not require the know-how and does not involve much effort.
“It just requires some market research for a promising place to invest in,” Nour El Din adds.
Female investors should closely monitor the real estate market to be able to weigh their options when it comes to good investments, Ala’a Saleh, marketing director at Inertia, advises.
Invest-Gate takes it personal and talks to several female homebuyers and investors, exploring the reasons behind their decision to invest in the real estate market, as well as their experiences.
“I decided to rent a small apartment on my own because I was living in another town with my family and had to move to Cairo to work and study,” Nadia Khaled, a data processing executive in her 20’s, tells Invest-Gate. Among the important factors Khaled considered before choosing her home was the location.
“I chose my unit in New Heliopolis as it is safe and upscale neighborhood and also because of its proximity to my workplace,” she notes. Khaled preferred to have a small apartment with an area of 70 square meters because of its reasonable rent. “I didn’t feel like I needed a larger space,” she adds.
Another case is Fayrouz Ahmed, a journalist in her mid 30’s, who bought an apartment of her own to start a calmer life in a place away from the hustle and bustle of central Cairo.
“I chose Hadayek October as it offered very reasonable prices compared to other locations and all the facilities needed for one’s daily life are located a few miles away,” Ahmed says. “I was keen to have nearby facilities such as malls, supermarkets, sporting clubs, schools, universities, as well as metro and bus stations,” she adds.
In regard to her unit’s size, she says, “I love simple spaces as it makes one’s daily life much practical and easier,” adding that she chose a unit with an area of 100 square meters. “Investing in properties is always a very good decision because you are always the winner when you sell it even after one year as real estate prices are hiking rapidly,” Ahmed notes.
“Investing in real estate is a good decision because real estate is one of the most stable things one can invest in, especially amid the current unstable economic status in Egypt,” Khaled reiterates.
Khaled adds that, as a middle-class woman, she can afford paying from EGP 100,000 to EGP 250,000 as a downpayment, with a monthly installment averaging EGP 5,000. Khaled further advises women who are considering investing to thoroughly research their different options, as well as ask about all the documents related to the unit’s land to avoid fraud.
She also urges investing with a developer that is trustworthy, preferably recommended based on personal experience from a family member or a friend.
“It is also preferable to choose projects in the mid-construction phase instead of those in early stages of construction,” Ahmed adds.