Egypt's real estate sector has always been a significant contributor to the country's economy. The summer homes market, in particular, has seen remarkable growth in recent years. One of the driving factors behind the growth of this market in Egypt is the country's demographic changes.
The ongoing Russia-Ukraine war has resulted in a significant acceleration of global inflation rates, affecting numerous economic sectors. As a result, both investors and individuals have been compelled to curtail spending and seek alternatives amid the continuous rise in prices.
Egypt has recently been seeking to export properties extensively in light of various decisions coinciding with the beginning of the summer season.
Egypt organized the Alamein Festival, which lasted 45 days, to promote properties in this new city and encourage investors to purchase real estate in the country using foreign currency (USD).
During the summer season, many people escape the heat and congestion of the city by opting for a relaxing vacation by the sea or in the countryside. The number of Egyptians investing in second homes for weekends and summer gateways is increasing. Prospective buyers face an initial dilemma - to either rent or purchase a vacation property. When making this pivotal decision, it is essential to consider key factors that align with your lifestyle and financial plan.
Translated by Reem Selim
The Egyptian summer real estate market has become attractive for those seeking recreation; in fact, summer homes are now a golden opportunity to join the second home market community of investors.
Recently, the Egyptian second home market has also been a potential among foreign homebuyers. Accordingly, Egyptian government has paid a great deal of attention to coastal cities development, in a bid to revitalize the second home market, especially on Egypt’s Northwest Coast area, which attracts hundreds of visitors, compared to other regions.
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