According to various reports, Egypt’s mortgage market, which goes back to the beginning of the 2000s, it’s been rather low. However, it is not expected to stay that way for long as it’s foreseen to grow drastically for so many reasons, like, the government’s generous initiatives through the Central Bank of Egypt especially in the real estate domain.
It started around 2014 when the Central Bank of Egypt financed banks to help qualified candidates at a low interest rate depending on their income level, it happened again in 2016 when the initiative expanded to include more people and add a whole segment of beneficiaries, it also affected the number of Financing companies at least 5 times in 10 years.
It’s heavily believed that Real Estate in Egypt will be a main alternative for saving alternatives due to the increase of demand in the Real Estate market in Egypt, the fluctuation in global economy, the drop in interest rates, and the stabilization of the US Dollar, it’s also believed that currently the payment terms are very attractive on so many levels for the first time in years.
Finally, the numbers are looking really good according to the World Bank and other professionals in the Real Estate consultancy in Egypt and if anything, it’s time to take a look and make some calls.