Real estate in Egypt - File Photo
CAIRO - 29 March 2022: Egyptian real estate market has witnessed an increase in sales by 18 percent in February compared to the previous month, according to the monthly Aqarmap Real Estate Index.
This raise came in coincidence with the Russian war on Ukraine, which has had an impact on global markets and the prices of energy, iron, and other commodities.
“The Egyptian real estate market is witnessing currently an unprecedented movement, and some real estate development companies started to raise the prices of units, while others preferred not to sell units at the present time until the vision became clear,” CEO and Founder of Aqarmap Amad Almsaodi said.
He added that the website is witnessing a remarkable turnout from buyers who are seeking to purchase real estate units before the price hike.