Egypt's housing market to improve as home prices grew by 3.37% in 2022

Posted on March 31, 2023   |  

Egypt’s housing market is slowly improving as the overall inflation-adjusted real estate index grew by 3.37% in 2022 after annual declines of 2.21% in 2021, 14.38% in 2020, 2.28% in 2019, 19.24% in 2018, and 11.49% in 2017. 

The President recently removed the previous restrictions on foreign ownership of land and property in Egypt, to strengthen the housing market. 

Egypt is the only nation in the MENA that avoided negative GDP growth and registered an increase of 5% in the economy in 2023.

This positive trend is likely to continue in 2023 as well because the Egyptian economy is expected to grow by 4% after seeing a growth of 6.6% in 2022.