Egypt’s property market to outperform its neighbours according to Credit Suisse
Egyptian property stocks are set to outperform the rest of the MENA region over the next 12 months, a report by international bank Credit Suisse has revealed.
The growth will be born from “strong domestic housing demand recovery that should filter through developers’ sales figures this year, especially on the middle income segment” according Credit Suisse analyst Ahmed Badr.
In the report, Badr describes the property market in Egypt as a cash market offering a stable outlook for pricing compared to the Gulf.
The report pinpoints Cairo’s commercial property market as possessing “strong growth potential”.
There is also much evidence to suggest that Egypt is fast becoming a residential hotspot, particularly popular Red Sea destinations such as Sharm el Sheikh and Hurghada. Properties here are affordable and rental demand high, making these resorts popular with overseas investors as well as those looking for a holiday home.
Source: Bloomberg Business Week