With Next Move Egypt, powered by Cityscape, taking place next month, experts and developers make the case why now is the right time for homebuyers and investors to buy real estate.
21 November, 2017, Cairo, Egypt: Next Move Egypt, powered by Cityscape, which kicks off next month from 14 - 16 December at CICC, looks to spur more real estate investment opportunities for investors and homebuyers, amid growing evidence that it’s the right time to invest in property.
Time to invest in real estate
“I would advise homebuyers and investors to purchase real estate as soon as they can as the prices continue to increase and the more you wait the less affordable it will get. In addition, investors would benefit from the capital appreciation, which is normally quite high,” advises Ayman Sami, Country Head – Cairo Office, for property consultant JLL.
Sami says that the market is now starting to stabilise and they are expecting it to begin its growth trajectory across most of the asset classes.
For the residential sector a few projects are expected to launch, JLL says that an increased number of projects are expected within New Capital City. “A number of new projects of further stages of existing projects have also been announced across West Cairo, with many of these projects seeking to target those currently living within central Cairo,” notes JLL.
Property consultant, Colliers says that the market remains positive despite the economic challenges. “The residential market has witnessed YoY increases of 10% - 12% in rentals and sales prices from last year, given the increasing demand for accommodation and the need for investment in real estate.”
Flexible payment terms
For homebuyers, says Sami, a benefit of the market is that developers have been offering more flexible payment terms on apartments, villas and townhouses in Egypt. Exhibitor, Integrated Solution will showcase two new projects in New Cairo; Jiran, and B81. In addition, the exhibitor will offer visitors flexible payments, with instalments made over 8-years.
““The Egyptian real estate market is one of the fastest growing sectors in the country, and this makes our clients eager to invest. My advice to potential homebuyers: the sooner they purchase, the sooner they get their return on investment.” says Amir Abdelmoniem of Integrated Solution.
“Flexibility is the new competitive edge with developers now adjusting their product base and operation plans,” according to JLL’s latest Cairo Real Estate Market Overview. “Among the strategies being used to attract sales in an increasingly competitive market are extended payment plans and improved community facilities as developers seek to offer more value for money. Community creation has become a key means of ensuring a competitive edge to target those consumers seeking to maintain a dynamic lifestyle.”
Colliers agrees. “Although there is considerable supply expected to enter the market, demand is likely to remain strong due to the rapidly increasing number of households. Homebuyers can also take advantage of the flexible payment plans offered by developers spanning up to 10-years in some instances.”
Over 40 exhibitors are expected to showcase hundreds of real estate projects from across the country and offer homebuyers and investors the ideal platform to secure their next townhouse, villa or apartment. Developers at this year’s event include: Wadi Degla, Prime Properties, Porto Vacation Club, Tabarak Holding, Diarna Real Estate, Heliopolis Developers Group, OUD, Amlak Masr Real Estate Investment, Memaar Morshedy Group, Cecilia Lagoons, Life Park, First Group, Al Safwa Real Estate, Zahraa El Maadi Investment & Development Company, Gardens (Emerald City), Al Oula-Taamir Mortgage Finance Company to name a few.
About Next Move Egypt:
Next Move Egypt, powered by Cityscape, takes place from the 14 – 16 December at the Cairo International Convention Centre, from 12 – 10pm on Thursday and Friday, and from 12 – 8pm on Saturday. Next Move Egypt will showcase hundreds of real estate projects from across Egypt, offering homebuyers and investors the ideal platform to secure their next townhouse, villa or apartment. Next Move is powered by Cityscape which launched in 2002 and has since grown to be the largest real estate event brand globally. Cityscape has welcomed over 500,000 real estate professionals and investors from over 160 countries.