As per the government’s announcement, all governmental operations will be moving to the New Administrative Capital starting in June 2021, it’s highly expected that prices will inflate recognizably by as much as more than 20%.
Lots of preparations and promotions were made in honor of the new capital on so many levels, lots of changes and improvements were made to make the movement easier, and that’s why by the movement’s date around the corner and having the price per meter increase to 4000 and 4500 LE in comparison with 2000 LE at the beginning of the project, also note that these prices are directly affected based on the location, the points of distinction, and the nearness to commercial areas.
Supply and demand are the main drivers of every industry, and that’s exactly what is expected to happen after owners start moving to the New Administrative Capital, the prices will go way up, especially after the high leveled governmental figures move there.
Digging deeper, some resources revealed that prices will approximately spike by 10-15% in the downtown area and its neighborhoods, while governmental districts will witness less inflation in price and so does the financial district.
So, if you’re looking forward to getting out of your comfort zone and start investing or taking a look at the real estate domain, we’ll always be happy to help you get professional consultancy.