The demand for affordable luxurious properties will always remain high in Egypt, as you notice when you are driving around the city and realize the amount of billboards advertising real estate in their developmental areas. The real estate industry just like any other business is all about supply and demand. Despite the instabilities witnessed since the Egyptian pound devaluation, the property market has remained quite stable. With the Egypt economy being in flux because the all the classes have devalued with the high class going to middle and so on. Surprisingly, this has had the supply in Egypt exceeding the recent demand.
With the demand rising for new properties between residents since 2018, the growing population of Egypt has reached over 100 million people, which all have been faced the real estate market one way or another. If they would have chosen to purchase a property, rent a property or even the various properties provided by the amount of organizations that have allowed their employees to reside in the country for a few years. With all this information discussed, you should understand that this is the best time to invest within the real estate sector and be able to make a profitable return in the nearby future.
Although the demand to invest in real estate is always high but for certain investors the high prices within the current market make it less possible of a chance to risk. Whether they are planning to invest in residential households or commercial properties, not many investors have enough capital to manage such an high investment. Which in return has had most investors turning to smaller units such as studios, one to two bedroom apartments located in less populated areas. But with House Solution, we seek to help real estate investors find the best deals that would offer both value in appreciation and a profitable return.
Investing in real estate isn’t always the first option for many people. They would consider what would they really do with their lifetime savings, would they invest it in foreign currency or gold? But most people should consider and invest within the real estate industry as it is a lifetime investment that when you make the right choices can change your lifestyle as well.
If you are looking forward to have that retirement home that you have saved for or a household that pursuing to get married and raise children, the market will always have what you need with a suitable payment plan that would make it easier for you whether short term or long term depending on your budget on the investment. With the population rate growing over 2 million per year, which can lead to over a million marriages with each year, which can lead to half a million housing units in potential demand.
With the devaluation of the currency and the property developers raising in the process, there is not much care towards the people as much as most people are considering where their next salary will be received. Which doesn’t make it much of a surprise when the private sectors per year are over 50 thousand units, targeting only the elite 10 percent of Egyptian residents. Many potential investors should understand that over 15 percent of the land of Egypt is actually inhabited, leaving 85 percent with potential real estate developmental projects. Most projects are currently being constructed within Cairo and the areas around Giza while leaving housing projects in Upper Egypt being required and in return a profitable investment.
OUR INVESTMENT OPTIONS
House Solution has one of the best options if you are looking to invest within the country of Egypt and that option would be North Edge Towers. Our duty is find the best investment projects that would guarantee a high return on investment (ROI) within a short period of time. In our quest to fill the gap between property owners and potential investors, we have found that the best way to make both parties satisfied would be finding the best properties and property owners that would be ready to complete the task and ready to occupy the investment. House Solution has many villas for sale within brand new compounds within the New Cairo and New Capital areas, all being at affordable prices.
All our properties are set to the highest set of standards of living and exquisite modern lifestyles regarding the locations. You would have the freedom to choose which property location that you can choose as well as the type and size. With all our current property listings and our experienced professional real estate agents which can find you the best prices in the market and assist you with your preferred household in the desired location.
PURCHASE VS. RENT
The prices to purchase real estate in Egypt, regarding developers are in belief that the prices are more than fair due to the fact that most of the installments for luxurious properties can actually have a duration of a decade to be completed. The current method used by developers nowadays would be the flexible payment method, which allows the home buyer to pay their installments in a duration of a decade as well but with no down payment in the process.
Since there has been a devaluation in the currency in Egypt, buyers would still have the benefit in paying toward their installments for 3-5 years with atleast a 20-30 percent down payment. Egyptian citizens who once believed that the prices were high before the devaluation, they are now considering many options as most citizens don’t have the proper funds since the devaluation has occurred. The client who desired to purchase a large property is now looking into smaller properties to make a better investment and not having to pay much capital if possible.
Renting in the real estate market in Egypt has been showing an increase within the studio apartments and smaller locations that would usually include 2 bedrooms and less. Since there are a lot of younger people nowadays that would prefer properties that are both comfortable and affordable towards their budget. Most independent people who are young at age would usually prefer renting rather than purchasing a property in their name.
Due to the currently insane prices that are just increasing, for most youngsters it makes it difficult for those who are willing to grow their career path so they would choose to rather rent than purchase a property with installments. The demand for smaller locations has increased as well as the new office and modern furnished office spaces. The newer office spaces are just basic locations that have been situated to handle business affairs as well.
The upcoming generation of Egyptian citizens have the point of view of actually starting their own businesses rather than joining an office job that would occupy their time, effort and most of the time isn’t as reliable as most might assume. They would then choose to rent their own office space, purchase some office furniture such as desks and shelves and just like that they are ready to conduct their business matters.
Start-up business and small businesses have increased the demand of the residential properties more than most people would like to imagine. On the other hand, the higher prices within the real estate market in Egypt makes most newly married couples be forced to ditch their cultural tradition and actually be married in a home that is rented and not purchased as past generations have been accustomed. They would choose to rent a furnished or unfurnished apartment for at least a year and see where life and their careers can take them from there.
PAST VS. PRESENT
The past law of renting in the real estate market in Egypt has been stated that if you choose to rent in that apartment for life then your children can actually inherit it in the end. Which makes both yourself and your children to be paying the same amount agreed upon on the actual rental agreement even if there has been a decade since that contract has been signed. In the process, many landlords have lost money and their properties were losing appreciation value as well.
In 1996, the Egyptian government stopped that law with only one exception which is that if the contract has already been signed before the legal law has passed then it would still be acceptable. The current law of renting in the real estate market in Egypt states that the landlord can determine the rent of the property in which they can increase the value. Most tenants would rent the property with the real value for an amount of money for a certain amount of time as the contract will be stated all these terms and conditions. The benefit behind the new law of renting in Egypt is that it assures the rights of both parties, the tenant and the landlord.
THE DOWNFALL BEHIND RENTING
Most people who resort to renting, actually just solve a current problem but they will be facing long term problems ahead such as the 10 percent increment that is applied annually by the landlord for the rent. Although the original law of Egypt states that no more than 10 percent should be incremented by the landlord, it doesn’t state how the increase should be implemented.
With most landlords increasing the rent, it makes most of the tenants to keep paying more and more with each upcoming year. In the process it makes most residents only be renting for a year because they can either choose to go to a better place with a small amount increase towards the rent or they can choose somewhere else that can be cheaper in a less populated location. With the procedure not being so easy and stable for most people, it makes them feel insecure and feeling nomadic from one time to another.
Tenants who have families or even the newly married couples would actually lack the feeling of security due to the issues of renting and the price increasing with year, which can actually lead to many disagreements and in such cases divorces and unsettlements.
SUPPLY AND DEMAND
The real estate market in Egypt has been unstable yet increasing with the many developmental projects in which also the many investment opportunities. In present time, the prices of property, land, construction and the required projects would be costly, but it still keeps the property maintained in the best manner as it makes many wages, goods, costs of living technically not in the same page.
The real estate market is usually going through a common cycle of recovery, expansion, hyper supply and a recession period which makes it not the easiest to predict where the real estate market will lead or when it would be the best time to invest. But with all the developmental areas being improved and the government looking to care after their projects, it would be best to look into the current real estate investments in Egypt today. Whether you are looking to target the middle class or the elite class of Egyptians, people are always seeking for better rental properties throughout the year.
The demand for new properties in Egypt is over 200 thousand units per year which is far more than what the market can provide without future developmental projects in the process. Investing in our properties all just guarantee comfort for those who are seeking residential households. When you choose to purchase a property, you are set to live in a secured location. All our compound listings in New Cairo and New Capital are well secured, protected and private and nearby police departments. All the properties are well gated areas where you can enjoy some amenities such as modern schools for your children, playground areas and retail therapy for those who seek it. You can also enjoy the basic needs that are commonly unstable among many other areas in Egypt such as uninterrupted power supply, water supply and even the newly paved roads to ease your transportation methods. Our aim is to ensure that every client finds what they desire within the real estate market and being able to provide them with all the services and locations so that they can choose what is best for them depending on their budget.
Find out More Real Estate Articles on https://housesolutionegypt.com/
Find out More Real Estate Articles on https://housesolutionegypt.com/
House Solution Egypt has much expertise regarding real estate services and property management with over a decade of successful experience. Covering the majority of the capital of Egypt, House Solution is dedicated to being the leading real estate company for valuing the priorities of all parties involved. Customer Satisfaction is our number one priority when it comes to tenants, home buyers, or homeowners alike. When you are dealing with House Solution, you can understand that we allow our clients to feel secure with the right knowledge that you would need to know regarding any case if you are looking to rent, purchase or sell a property. We provide many home solutions whether you are looking to relocate within the city or even if it is your first time as an ex-pat, House Solution Real Estate will offer you the best available properties with the best prices that you can find in the real estate market. At House Solution Real Estate, we take each one of our cases professionally with our experienced real estate agents and office staff you can expect nothing but the best service that you can find within Maadi and New Cairo. Offering a wide variety of available properties, House Solution provides you the most profitable deal for your property and you can ensure that with our assistance, guidance, and consultancy, you can expect that you will make the best decision with House Solution Real Estate. With our detailed list of clientele regardless if they are local or international, you can expect the best service with us as we seek the best quality of life with each client, develop long-term relationships built upon respect and prosperity with each and every client. With House Solution Real Estate, it is understood that we pay close attention to every detail that is told by both parties and deliver the best offers for each client, which makes House Solution Real Estate the leading Real Estate company in Egypt.
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