With all the economic and political episodes that occurred during the last decade, the real estate domain in Egypt never failed to prove that it’s one of the toughest and most resilient domains, on multiple occasions in spite of the lag after 2011.
As much as any other sector, The Real estate in Egypt is derived by many factors, like: The strong demand and the supply gap, the booming population, and the inflation of prices which leads to a general drive to buy properties as an investment or for a change.
In terms of investment and contribution, the real estate sector in Egypt is on the rise as the demand is always high and even increases, while some consider it a safe investment. It’s also believed that in spite of the recent global pandemic that led to budget cuts, global recession, and increasing rates of unemployment; It was claimed that real estate properties represent more than quarter the wealth of high and medium income classes, and surprisingly, a lot more to lower-income ones.
This gave a chance to start thinking out of the box and start digitizing the housing experience, which is clearly noticed recently, real estate companies are encouraged now more than ever to start shifting to digital solutions including: Augmented Reality (AR), Virtual Reality (VR), and virtual 360 panoramic tours. This kind of progression is expected to revolutionize the industry, cut the costs, and make Real estate more accessible to everyone.