While reduced confidence in the Egyptian property market has affected demand in the short term, the prospects for medium to long term investment look increasingly positive. A recent statement by investment advisory firm Jones Lang LaSalle explained that on-going uncertainties had caused buyers to sit on the sidelines, but their analysis predicted a positive medium to long term outlook.
The statement said that property decisions may be delayed until the ‘dust settles’ and greater certainty returns to the market after the elections later in the year,’
Ayman Smai, a representative from Jones Lang LaSalle’s MENA division added
‘Egypt could emerge stronger eventually through greater transparency and business friendly policies. Such a scenario could make the country more attractive for business in the long term in comparison to the pre-revolution period,’
‘Egypt was and will remain as one of the most attractive real estate markets in the MENA region in terms of its potential long term opportunities, growth and diversity. In the present climate, there remains (albeit reduced) liquidity in the system and those opportunistic investors currently active in the market could be rewarded’